The mobile application industry welcomes new ideas to expand its area. While the eCommerce industry gets a new boost with mobile apps to sell products or services more conveniently, many people get a way to earn income by building demanding apps. An app can be used to earn money if it successfully justifies its purpose. Gaming applications are the best example in this regard. They are free to download, but they earn profit through in-app purchases. Native app developers for both Android and iOS platforms are in high demand for creating apps with innovative ideas. Find out how a free app can make money.
Not all apps succeed in creating a craze in the market. Very few apps live up to the hype. Choose the right platform to build your apps. Two names are dominant: Android and iOS. Analyze your market and get an idea of the interest of your audience. Create an app that your target audience wants.
In-App Purchases Vs. Paid Downloads:
Apps that come with a paid download lost their demand to the competition. People no longer want to pay before use. This is the reason why in-app purchases get a solid footing in the market. The apps allow users to download them free of charge and offer limited services. They fixed a subscription charge for premium features. In-app purchases became the buzzword in the app industry, and app owners successfully captured the right interest through it.
In-app purchases are divided into three different categories: consumables, non-consumables, and subscription. Users make a consumable purchase when they use their purchased in-app products, such as virtual currencies. Non-consumables are those that have permanent use and never expire, like a new game level. Subscriptions are used to get new features or unlock a new installation for a limited period of validity.
Apps that make money:
No matter if you browse Apple App Store or Google Play Store, you will get billions of apps. Some apps ranked at the top and others failed to get any attention. In general, there are three types of applications that grow enormously in terms of making a profit.
• Game applications
• Matchmaking apps
• Privately owned applications
Gaming apps take the top spots when it comes to earning money. In recent years, a number of gaming applications are being witnessed that enhance the interest of the user. Candy Crush Saga and Pokémon Go grab the headlines. Every day these games earn a lot of money and build a strong foundation for such applications.
While the gaming industry benefits greatly from the idea, matchmaking groups aren’t far behind. These apps have a long list of subscribers and are even ready to pay charges to get premium facilities. Tinder instantly becomes famous and is known as one of the highest grossing apps.
Video streaming apps are also seeing a surge in demand. Netflix opens the new market and works on the subscription based method.
The app industry gets bigger and better by giving space to new ideas. Some privately owned apps also position their position in the market and generate windfall income through simple approaches. Apps like Telepathic and Hooked are the top-grossing names in the books category. Their ideas were new as they came up with a simple but interesting reading process.
Native Android app developers and iOS app developers are in high demand these days. They are given the task of developing an app that greatly touches the intent of the users.
In addition to in-app purchases, there are many ways an app can generate revenue. Focus on advertising, email marketing, subscriptions, and other strategies to monetize your app.
Advertising:
In general, there are four types of advertising that help an app earn revenue. Interstitial ads are full-screen popups that are displayed for a specific period of time. Users can close such ads by touching the close button. Banners or display ads come in many different shapes and sizes and appear at the top or bottom of an application. In-app video ads are also common and these ads are displayed as an in-app reward. Native ads are designed to promote products.
Junk mail:
App developers design and develop apps, and it’s the strategy that makes them famous. Email marketing is an old concept and is still used by marketers. Increase the reach of an application. Email marketing is essential when you want to promote products or inform shoppers about discounts and offers.
These are the things you can do to earn profit from your app. Free apps are beneficial in many ways. You need a proper strategy to promote them.