When developing an app, the goal is often to monetize it in some capacity. That’s why it’s important to focus on how to make money from apps early in the development process. You want to thoroughly understand how do apps makes money before making it available to customers.
The proper strategy for boosting app revenue will vary depending on the nature of your product. That said, when deciding which are the best apps to make money, the following are some of the more popular and effective options to consider.
Pay for Download as App Revenue Source
When building an app that earns you money, setting a price for downloading it is perhaps the simplest way to monetize.
Of course, with so many free apps available, if developers wish to go this route they need to make sure they understand what types of customers are most likely to pay for their product. Purchasing behavior experts note that those most likely to buy apps tend to be extroverts. Thus, if you’re going to charge money to download an app, it may be a good idea to incorporate social features.
That said, sometimes it can be difficult to convince a user to pay for an app if they don’t have an opportunity to thoroughly test its features first. This brings us to your next potential strategy for how to create an app and make money.
Offer Freemium Trials
Allowing users to download the basic version of an app for free may in fact be the more effective way to launch an app that makes money. Once a customer has had the chance to use your app, you can offer premium content or features. Customers will be more willing to pay for this content after they’ve used the app and gotten a sense of why those premium features may be valuable.
Leverage In-App Purchases
Did you know that mobile apps accounted for the largest share of ecommerce transactions for major North American retail brands in the last quarter of 2017? Clearly, giving customers the option to make purchases via a mobile platform can be an effective way to earn app revenue.
Retailers aren’t the only businesses that can leverage this strategy for how to make money from apps. Many different types of apps, from games to photography platforms, allow users to purchase additional products via the app itself. Although there are many answers to the question “How do apps make money?”, offering in-app purchases is one of the more common tactics to generate app revenue.
Make Money from App Subscriptions
The subscription-based model is another way an app makes money. This strategy is similar to the freemium model. It’s most effective when an app offers quality content.
Users can download the app at no cost initially. This begins a free trial period. After a certain amount of time (e.g. 30 days), they will be prompted to pay for a subscription to continue using the app. If the content they were supplied with during the free trial is appealing, they will likely happily start paying. That’s why the best apps to make money using this subscription model must have compelling and/or useful content, and should be available across platforms.
Launch the Best Ads for Your Apps to Make Money
When considering how to create an app and make money, sometimes it helps to simply think of an app like a website or publication.
This is another strategy that works best for content-based apps. There are many advertising networks designed specifically for people who want to know how to make money from apps. If you don’t think users would be willing to pay for your app, they may still be willing to accept advertisements in exchange for free content.
These are all strategies worth considering when you’re looking for how to make money from apps. That said, the best apps to make money from are those designed by experts who already have experience monetizing apps. If you have an app idea you’d like to profit from, partner with a qualified development team for the best possible results.
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