Apps have been the next big thing for some time now, and every year someone releases one that makes us go “Why didn’t we think of that?!” Consider how much we use our smartphones these days; they basically run our lives, right? And, smartphones are run almost exclusively on apps. Everything you HTC, or Sony, or iPhone is able to do is only through the use of apps, so that’s how important they are.
Well, did you know that you can actually make money off of apps these days as well? More and more people are creating apps these days, and battling for market share. We can’t all come up with the next WhatsApp, but, there is a market for pretty much any app these days. If you want to drive in-app revenue, we recommended utilizing one of these awesome monetization strategies.
In-app purchases
This is one of the most common ways of making money off a free app, and one of the more agreeable ways for users. The way it works is that the basic functions of the app are available for free, and then the users can purchase additional things in the app. This is very popular with app-based games such as Candy Crush Saga, and a great way of providing people with something that’s free, but also has enough scope to bring you money as well.
Subscribing
Subscriptions are another great way of making money with a free app. The idea here is that the user is allowed to trial the app, and get limited access to the content. But, if they want to actually access the exclusive content, or get unlimited usage, they will be required to pay a subscription fee. Content-based apps are generally the sort that will use subscriptions, like newspapers, or music streaming apps like Spotify.
Adverts
Adverts are an annoyance for users, but they are important in the makeup of apps, and how they work. Adverts are sometimes necessary for helping you generate cash through the app in two ways. The first way is the fact that companies may wish to pay to see their adverts placed in your app, especially a popular app game. There is also an opportunity of making money by offering users the chance to pay for ad-free use of the app. Adverts are the oldest type of money-making for mobile apps, and something you should definitely go with.
Freemium
This is kind of a new idea and one that is fairly self-explanatory. It offers users a combination of both free and premium content to choose from. They can select additional features by paying a bit extra, and this will help you to generate a bit of extra money. Freemium is a fairly new concept, but one that is proving popular. For example, freemium is used a lot with mobile app gaming, where players can progress for free, but they need to pay money to progress quicker.
These are some of the best things you can do to make money from free apps. With so much competition out there, and people battling for market share, it’s difficult to make it unless you incentivize and get creative. You need to make money off your app, without shelling out too much to be able to do it.
