One of the major things everyone is always looking to talk about and learn about is making more income. Whether passive or active, earning a substantial income is one of the major ways to sustain oneself. One of the ways to earn from an app that very few people are talking about is through apps. Learning how to earn money on apps isn’t as hard as it is often made out to be. This article provides information on all the ways you can make money from apps.
How Much Can You Actually Make From An App?
One mistake many people interested in owning apps make is that app earnings are a long process and aren’t often worth it at the end of the day. If it’s that way, though, why are all the free apps still standing strong after years of running? Research made by Creative has shown that all the apps in the top 200 categories on the App store make around $82,500 every day. At the same time, the top 800 apps make up to $3,500 from the apps every day. If this isn’t proof that you can make money from apps, what else is?
What Do You Need To Know About Monetizing Apps?
To make money with apps, you can use many strategies and methods. Many people think you can only make money with mobile apps when it is paid to download on the app store or has strictly paid access. However, you can earn money even from a free app. Yes. Why else do you think those free apps are continuously at the top? If you are wondering how to create an app for free and make money, know that monetizing an app isn’t hard, and your app earnings can be superb as long as it’s useful to your target audience. Certain information and statistics will influence how money is made with your app. They include:
The purpose of the app’s creation
Of course, you can only earn money when people use your apps. To make money with mobile apps, your app needs to be useful and worth your target audience’s time, and it must address their specific needs and be very easy to use. The app earnings of your mobile app can only peak when users enjoy using your apps as often as they can. So, the more useful your app is, the easier it is to make money from it, no matter the niche. Also, when you understand the purpose of the app’s creation, you can then decide how to monetize an app with the best method befitting the app’s purpose.
The demographics of your target audience
Many mobile app owners mistake creating and developing apps without considering who they are making the apps for. If nobody knows how to use your apps, how will you make money from apps? Your target audience has the biggest influence on how much money you can make with apps. Taking a survey to understand the target audience and what they need help with will help any app soar and increase the app earnings. The more people use the app, whether it is free or not, the more money to be earned from it. Understanding the target audience that an app is directed at gives the app owner the chance to decide the best monetization scheme that won’t waste their time and will be easy to use.
Analysis of the competitive market
No matter the niche the services an app is offering is rooted in, and no matter whether the niche is saturated or not, there is always competition. Somehow, there is an app somewhere that people already know and are already using. Your competition greatly influences certain decisions, such as app advertising revenue and how you decide to make money with apps. To successfully run an app enough to make money from apps, it’s best to analyze the strength and weaknesses of the competitor apps in the app market. This way, a mobile app owner can gain leverage by addressing the target audience’s problems with these apps. How to make money with an app, you ask. You can’t neglect this analysis if you’d like to do it successfully.
The technology used with the apps
Creating mobile apps and maintaining them is quite a long process. There will be updates, tests, remakes, and many more steps. In figuring out how to monetize an app, it is best to keep in mind all the technologies and the process required to maintain and keep up the use of the app. There will be a need to work with the developer, or if you’re using a more straightforward method with Andromo, there will be a need to revisit the app process. So, when thinking of making money from an app and increasing the app earnings, it is best to consider this factor.
What Makes A Free App Different From A Paid App?
There are two major categories of applications on every mobile app store, even a desktop app store. There are free apps and paid apps. As the name implies, free apps are apps that a customer or user can download and install without any cost due to the absence of a cost or money paid for a salesforce security review. Simply put, there is absolutely no download threshold or hindrances for the user with free apps. Deciding how to monetize an app depends largely on whether it’s free or not.
On the other hand, paid apps work differently. The app owner is in full control of the license, and therefore, the user or customer will have to go through a payment processor platform to purchase the license and make payment to download and install the app. Once the app is downloaded, there are guaranteed app earnings with paid apps. With these kinds of apps, the question of how much money apps make per download comes up. To make money with apps, accessibility should be considered.
Free apps have multiple monetization opportunities compared to paid apps that give limited monetization options in monthly and yearly fees. Also, developing free apps is less expensive and easier because they are not as complicated as paid ones.
Free and paid apps have always been compared in many app stores and reviews. One major thing to notice is that free apps have always outnumbered paid ones in terms of numbers. There are always more downloads of free apps compared to paid apps, and the reason for this is pretty obvious. At the same time, surprisingly even, free apps bring in more app earnings and profits compared to paid apps on any app store.
According to research and a graph made by Space O technologies, from 2011 till 2017, the number of free apps downloaded has increased greatly, by hundreds of billions, compared to paid apps that only increased slightly. According to Google play, 98%of the worldwide revenue is made from free apps. If this isn’t a sign to consider how to make money from mobile apps, what else is?
How To Make Money From Apps?
There are paid and free apps, there are multiple ways to monetize apps, no matter what kind of apps they are. For paid apps, as mentioned earlier, there are limited options to make money with paid apps. When it comes to paid apps, there are just a couple of ways to monetize apps, including paying to download and then a monthly and/ or yearly subscription payment to continue using the app.
When it comes to free apps, there are lots of options to make money with mobile apps. Due to their ease of download and higher number of users, the app earnings with free apps are more because making money with free apps is easy. Some of the methods of how to make money from mobile apps include in-app advertising, in-app purchases, paid subscriptions or upgrades, Sponsorship, affiliate links, and many more.
In-App Advertising: How does it work?
In-app advertising is one of the very common ways to monetize apps. Due to how subtle and less disturbing they can be, a lot of app owners of free mobile apps often opt for this option. This method of monetizing an app is very easy to use. All the app’s owner has to do is develop an app, which can be easily done with Andromo, publish the app and decide how to make money from an app by deciding whether to let advertisements show on the app.
This is a seamless way to make money on mobile apps because the app owner gets paid according to how many impressions and lead generations the ads get, the number of clicks on the ads, and the kind of ads. However, at the same time, as an app owner, you would have to consider what your audience might want to see as you wonder how much do apps make from ads. Some of the ways these in-app advertisements can be used include:
Banner Ads
These in-app ads are often shown in different sizes and forms on the phone’s screen or the app’s interface. It is one of the most well-known advertisement methods of in-app advertisement due to how easy it is to implement on the app’s interface. A banner ad can be placed on different parts of the interface, such as the top, bottom, left, or right of the screen. Luckily, Andromo makes this method of monetizing an app very easy. Andromo produces a network of top companies and payments that will help increase the reach of these ads. You can use this advertisement method on different app times like Fashion apps, educational apps, and many more. If you’re wondering how much money apps make per ad, banner ads might be a good place to start to find out.
Native Ads
Another kind of in-app advertising used to make money with mobile apps is native ads. Native ads are one of the ways to monetize apps that are almost unnoticeable, and their aesthetics is what makes them appealing. This is because native ads can be integrated into the app’s interface through the use of similar designs and properties. So, it doesn’t stand out oddly to the user. This is how to make money with an Android or iOS application without destroying the user interface. Andromo also provides this feature as you can see that you can create an app for free and make money using native ads. Native ads work perfectly with book apps, news apps, educational apps, cooking apps, and many more.
Interstitial ads
These ads are perfect for apps that have or require waiting times at certain intervals while the app is in use. When considering how to monetize mobile apps, interstitial ads should certainly come to mind as they are a form of advertisement covering the whole screen. A full-screen advertisement pops up with these kinds of ads, covering the app’s interface for a specific time frame. This time frame is mostly fitting during the waiting time of the app. This ad can usually be closed by using a close button that’s often situated at the top corner of the ad, either left or right.
Interstitial ads have to be properly placed at time frames that the users won’t mind, so they won’t feel disturbing. This is why Andromo provides the best feature for this. The app development platform, Andromo makes it easy to integrate interstitial ads into an app’s interface regardless of its niche. Also, Andromo ensures that the ads are benefitting both you and the users of your app. Some of the app niches you can integrate interstitial ads into including motivation and workout apps, Online courses apps, wallpaper apps, and many more.
Andromo makes app development easier than other platforms. Simply, you get to know how to make an app that makes money once you use Andromo. Providing multiple ways to monetize apps, Andromo will help your app advertising revenue and app earnings.
In-App Purchases
Another standard method of monetizing your app is by integrating in-app purchases. In-app purchasing, as the name implies, there is an option to purchase goods and services from the application on a mobile device. When thinking of making money with mobile apps, in-app purchases are always bound to come up. Mobile app owners can offer their apps as free versions on the app store to their audience with in-app purchases. Then, to integrate the in-app purchases feature, the app will give paid future unlocks, special items for sale, an ad-free version, or even a paid version.
All of these are methods of integrating in-app purchases into an app. This way, the user can use the free version of the app, and if they are willing to improve the app user experience, they can pay for an upgrade or a feature in the app. An in-app purchase is any fee or amount paid for anything in the app after the initial download. Over 50% of the most popular apps on the app stores have in-app purchases used to monetize apps. Simply put, in-app purchases are based on the freemium model to explore how to make money on apps.
One of the app development platforms that make the integration and use of in-app purchases as to how to make money from androids applications is Andromo. Andromo provides multiple ways to monetize apps and how to make money with apps through different options. These options include these in-app purchase features.
On Andromo, this feature is known as the “Paid access to content” feature. Using Andromo, your app can be programmed to have certain features that will be restricted only to those who are willing to pay. This content can be of any kind and any niche. Some of the niches this feature is used on with Andromo include music apps, photography apps, spiritual apps, education or study apps, cooking recipes apps, and many more. So, if you’re wondering how to make money from Android apps and iOS even, Andromo’s “paid access to content” feature is a great option.
Subscription
The subscription model is often regarded as a fair deal for all the parties involved. When considering how to make an app that makes money, a monetization model that can be considered is using subscriptions. Mobile app subscriptions for any app niche are quite common as they allow users to pay for a service as long as they want to. The subscription model serves as a model that provides software or the mobile app as a service. To make money with apps, an app owner can offer a service with the app and require the users to pay a weekly, monthly, or annual fee to access this service.
This method of making money from apps is often used by apps that offer cloud-based services and video and audio content providers. This is why YouTube, Apple Music, Netflix, Spotify, and many other well-known apps have this feature. However, only a small percentage, 5%, of successful app developers use subscriptions to get income.
So, this subscription model can make money with android applications by having a free version at first with limited features that the user can pay to access. It can also be integrated by giving the user a free trial period to enjoy unlimited access to the features on the app for a short period and then decide whether to pay for the limited features or not.
Paid Apps
Creating and launching an app is a long time-consuming, and financially consuming process. It is only right to monetize the app by making the download paid. Yes, paid apps are apps with tags of price and require the user to pay once it’s time to download and install the app. This method is used on the app store, as there will be an easy payment platform and process to aid the payment.
To make money with apps through paid apps method, all that’s necessary is to and the payment option and category on the app store for easy payment by the users. This method of creating an app for free and making money is beneficial because as long as people download the app, there will be continuous passive earnings for the mobile app owner. However, it’s not as common because not many people are willing to pay at once for an app they’ve never used or had a taste of.
Sponsorship
Sponsorship is pretty self-explanatory as it is a term used in many places and events. Sponsorship is an effective strategy that can be used as a way to monetize apps. However, it is very uncommon, although it’s an interesting strategy. As an app publisher, you can reach a sponsor within the same niche and have the same target audience as your mobile app. Simply, you can build an app for a niche and work for hand in hand with another company to build and launch an app.
To successfully make money from apps using this method, the app in question must be in a niche where the sponsors will have a target audience. So, you can create a list of all the possible companies and organizations that can benefit from the app’s use. A company or organization can only agree to sponsor an app when it is beneficial to them. You can monetize this method by putting up space for ads for these sponsor companies and including the brand’s presence into the app’s interface, providing users with exclusive features without disrupting the user experience.
Choosing how to create an app for free and make money can end in you choosing to find sponsors as it is not very common and is quite lucrative.
Affiliate Program
Another one of the answers to how to monetize mobile apps that are very uncommon is through the affiliate marketing program. Getting people to use an app is one of the important ways to make money from mobile apps. Affiliate schemes and partners can help promote the apps and use their influence to sell the apps. Affiliate programs are a cost-effective method for you to earn and improve your app earnings. This affiliate program expenses can be gotten through the implementation of an app advertising revenue.
Affiliate programs are pretty much straightforward when it comes to mobile apps. With affiliate partners, they can sign up for the program and agree on a commission that they will be paid after achieving or reaching a particular aim at a set period. As an app owner, you will then provide links and incentives to the affiliate partners. By providing incentives, promotions, and many aids to make them find it easy to sell your product for you, you’re opening your app up for more growth and use. It is a perfect way to make money from apps.
It is also stress-free because as soon as you have convinced an affiliate to sign up for your app, you have agreed to hand over the job to them. Simply, the affiliate partner has to do all the groundwork of promoting, marketing, and showing your app to potential users through any method they prefer. Affiliate programs are also risk-free as you don’t have to pay an affiliate partner until they fulfill their part of the commitment.
Selling Merchandise
Merchandise is one of the sales methods or business methods that many people are delving into right now. Many people are making merchandise to start a clothing or accessory brand depicting different things. Business owners also use merchandise to promote their businesses and, at the same time, make money. As an app owner, you can be part of the people who take advantage of the use and existence of various kinds of merchandise. No matter the niche your app is in, you can know how to make money on apps through your merchandise.
Unlike in the in-app purchases version, where you can sell virtual services, selling merchandise is selling physical products that are affiliated with your app. This model is very beneficial if you create an e-commerce app as you can sell the products and services as merchandise from your company or app. At the same time, you can also sell merchandise such as branded clothing, items, and keepsakes that will sell your apps by informing people all about it anywhere they go.
Making branded merchandise and related items to your app can be a perfect way to promote your app if your business doesn’t involve selling any physical merchandise anywhere. You can see that making money from apps isn’t as hard as it sounds.
As selling merchandise depends entirely on the kind of business category of the application that you are developing and launching, you need to use a reliable app building interface that will provide the use of this option very easily. A perfect example of this platform is Andromo. Andromo gives app owners a chance to create business category applications. Many features on the app-building platform make this more accessible for the app owners to integrate. So, whether you’re running a restaurant business or a nightclub, reservation business, catalog, event, and many more, a feature is available on Andromo to make this easy to develop.
For instance, if you want to build an event application, of course without coding, you get the chance to integrate event calendars, Maps, Zendesk support, multimedia, push notifications, and action links. At the same time, if you are looking to build a community application, you get the option to integrate a global donation button, contact details, push notifications, YouTube, even your WordPress feed.
Another instance is with the creation of reservation apps. People want to be able to book reservations with their mobiles. Andromo lets you leverage this by providing the option of adding payment links, online reviews, push notifications, location links, RSS feed, photo galleries, and many more. Andromo has so much to offer for you as an app owner! So, if you have been wondering how to make an app that makes money, Andromo is here for you.
Crowdfunding
A lot of people associate crowdfunding with donations for health-wise issues like surgery, funerals, raising funds for the needy and homeless, and the like. However, crowdfunding works a lot more extensively than that, and this is why crowdfunding has become another new method to monetize your app and make money from apps. Yes, crowdfunding is a perfect opportunity to improve your app earnings.
Now, the kind of crowdfunding that has been done about apps in previous times is often in the form of raising money to develop an app. So, people use crowdfunding platforms such as GoFundMe, Patreon, Chuffed, and many others to donate to the cause of the development of an app.
However, in recent times, people have wondered how to make an app that makes money, which birthed the new kind of crowdfunding available with apps now. Instead of raising funds through a platform, there are now ways to raise funds using the app itself.
Simply, crowdfunding with apps involves building an app for an organization that needs funding and donations, such as Non-governmental Organisations, hospitals, churches, mosques, and many more. Through this app, people can now donate to their cause. At the same time, apps can also be created for small businesses that need donations and the like to run further.
Of course, Andromo has the perfect option for this. As an app-building platform, Andromo provides special features to aid donations to non-profit and charities. So, whether you are building a non-profit app, a charity app, or a community-building app, Andromo has something for you.
With charity apps, you can create features such as quick action links, contact details, photo galleries, multimedia files, PDFs, and RSS feeds to aid the use of the app for anyone who would like to donate. Also, community apps have the features of global donation and similar features to the charity apps. So, it works mainly like fundraising for these applications created using Andromo.
Conclusion
If you’ve ever asked the question, “can you make money creating apps?” then, of course, by now, you know that the answer is a yes. Apps are one of the top revenue sources globally, and by owning an app, you should open yourself up to the many opportunities to make money from apps. Luckily, Andromo makes this easy for you as an app owner. Make apps without stressing as long as you use Andromo.
