Gone are the days when computers were huge. In today’s world, the revolution of mobile computing and the presence of smartphones have made it easier for everyone to stay connected in this digital world.
The good thing about mobile computing is that it has better opportunities for making money. If you create an amazing mobile app used by people around the world, you can easily make good money from it.
All you have to do is to identify what you want to develop and what will be the target audience of your app. After finding answers to this question, the next step is creating your app and making it a success for your audience.
But where comes the part about making money? The good news is that there are several proven strategies you can follow to make money from your apps. Keep reading this article to find eight ways you can monetize your mobile app.
1. Run ads on your apps
The easiest way of making money with your app is using a mobile ad platform. By integrating an advanced ad system in your app, you will be showing ads to the users of your app, and you will get paid based on the number of users.
The best part about using a mobile ad platform is that you don’t have to contact different ad tycoons. With an integrated service, it will be easier for you to stay focused on development, as the managers of your mobile ad platform will be responsible for bringing advertisers and customers on the same page.
2. The premium model
You don’t have to give away your app for free. After nailing the mission of building a great app and attracting users to use your app, the next step is selling your app through the premium model.
Many mobile apps available in the market can only be downloaded after paying for a certain time. Compared to the subscription model, you will not be obliged to give money back to the users after they’ve downloaded your app.
The good thing about the premium model is that it shows your authority. Users are more willing to install an app that’s not available for free, like many apps available in the market.
3. Sell a proper subscription
You can force your target audience to pay you a certain amount for downloading your app. But remember that this model might not work for all developers. If you don’t have a reputed presence in your market, you won’t be able to charge good money for your apps.
A better option instead is introducing a subscription model in your app. Instead of making people pay before installing your app, you will give a free trial to all your users. It will be the choice of your customers to opt for the subscription if they find value in your app.
4. Enable In-App purchases
Both the Premium and Subscription model have their perks and disadvantages. For example, if you give access to all the features in your app through the Premium or subscription model, you won’t be able to make money through the upselling process.
How can you ensure that you keep making money even after the users have paid some money? You can simply do so by enabling In-App purchases in your app. Your users will have to pay a certain amount of money to access a certain feature in your app.
The good thing about this model is that it doesn’t limit you to making only a certain amount of money.
5. Find a sponsor for your app
There’s no denying the fact that it can get hard to manage the subscription/premium/In-App purchase models. You will have to integrate everything in your system the right way to ensure that your customers don’t face any problems.
A simple way you can ditch this whole problem of using different models mentioned above is by contacting a sponsor. Your sponsor will pay you a fixed amount of money to show ads on your app.
By working with a sponsor, you get a better chance of focusing on development. You don’t have to worry about making money, as your sponsor will get things done for you.
6. Make money through affiliate marketing
Affiliate marketing is one of the best ways of making money through your app. With the affiliate model, you don’t have to worry about integrating the mobile ad platform or selling a subscription model of your app.
You will get a fixed amount of money every time someone clicks on your affiliate link. As you know already, ecommerce is getting more popular every day. Affiliate marketing is going to help you make money without having to worry about anything.
7. The membership process
Selling membership is the best way of making money through your app. With a membership model, you will have to manage a lot of things to ensure that your customers don’t find a problem using your app.
But the good thing about the membership model is that it helps you build your audience. With active members who love your app and want it to develop the right way, you will be more focused on working on the betterment of your app.
New membership platforms like Patreon make it easier for developers to integrate the membership model. By using these platforms, you won’t have to make changes to your app, and you will be making money simultaneously.
8. Sell your merch
As mentioned above, ecommerce has made it easier for customers and marketers to sell and purchase things. You can also use the advancement of ecommerce for your benefit by selling merchandise online.
Remember that users love to show which app they like the most. For example, if you look at MMORPG players, you know how much they love promoting their favorite game with other people.
You can make things easier for your users with custom merch. The best thing about selling merch is that you can outsource the whole process through 3rd-party platforms.