How Free Mobile Apps Make Money – Do you have an app idea in 2020? Still wondering if it’s worth investing in? How much money can you earn per app? If you want to create a mobile app and don’t know how to monetize the app, we will discuss it in this article.
But before we answer those questions, let’s share something. According to statistics, as of June 2020, 96.4 percent of all Android apps are available for free. However, there is stiff competition in the market for Android and iPhone app monetization.
How Free Mobile Apps Make Money
So, this article is for entrepreneurs who want to make app money by publishing free apps on the mobile app market. So, let’s see how you can make money with free software.
How Do Free Apps Make Money: Monetization Strategies Of Top Earning Apps
According to Digital Information World, Apple’s App Store and Google Play generated approximately $83.5 billion in purchases from users worldwide in 2019. That’s why the mobile app market is a great opportunity not to be missed!
Also, if you think free mobile apps aren’t as useful as paid ones, you couldn’t be more wrong. In fact, most mobile apps in the Google Play Store and Apple App Store are FREE. Freemium apps also account for 98 percent of Google Play’s revenue.
At the same time, 5-10% of mobile app users are willing to buy paid apps. And in the coming years, revenues from paid programs will decrease.
Now that you’re ready to learn how to monetize your app, here are 6 factors to consider before developing an app.
How To Make Money Using Free Apps
With more than 5 years of experience, we have worked with many entrepreneurs and helped them turn their ideas into monetization apps. How many users will find your free mobile app? How many of them will download it?
So we are here to help you earn and rank in the app store.
When you start focusing on how to make money with an app, the first thing you should keep in mind is:
If your app has a catchy name that reflects its main function, it can attract more users. In particular, it is also important to include keywords in the app title.
How Free Apps Make Money A Complete Guide
In particular, let’s look at Tinder, one of the most popular apps in the world for meeting new people. As you can see, the full title contains an explanation of what this app does. It offers you to meet new people, expand your social network, meet locals while traveling or live in the moment.
In general, the first few sentences of the app description should be informative and describe the main idea of the app. Not many people click the “read more” button. however, make sure that this part of the description is meaningful and informative.
The next step is to provide your application with descriptive content. Let’s look at Netflix’s definition. As you can see, this helps users see what they can do.
When considering how to monetize a mobile app, another factor is the app’s screenshot. Users want to know how your app looks on their device. That’s why you should choose the best screenshot.
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For example, look at the screenshot of Uber in the App Store. Accordingly, text describing the main function is added.
It’s not just good mobile app ideas that make money, but understanding how technology can improve an app. At the same time, in order to distinguish it from competitors, it is important to determine the method of development.
For example, new apps are better suited for subscription services and gated content, while gaming apps benefit from in-app purchases.
Whether you’ve developed a paid or free money-making app, you need to have a monetization strategy that satisfies your future users while also keeping your business safe.
Make Money With Mobile Applications By Esparkbiz
It is important to choose the right funding model for your potential employer. There are several different ways to successfully monetize your app:
Here users can get free apps with basic features. But they pay a lot of money to have extra work. So, if you’re looking for ways to make extra money with free apps, you need the paid version.
Even if only 0.5-2% of app users buy the premium version of the app, your app will reach a large audience with the free version. This model works well for games, cloud services, photo editing software, and educational platforms.
In other words, to enjoy the full Minecraft experience – including creative mode, multiplayer and more – buy the game at any time during or after the trial period.
How Do Free Apps Make Money 11 Monetization Strategies To Create Apps
In short, this app investment strategy involves selling additional features or items within the app, such as in-game currency, valuable items, extra time, health points, tips.
When considering in-app purchases, the first thing you need to know is the difference between consumables and non-consumables. Consumables are products that users can use in the app, such as health points, virtual or digital currency.
And things that can’t be used can be used constantly, like new games, cards, or blocks. Here’s how free apps make money without ads.
Take the mobile game Pokémon GO, for example. The main currency is PokéCoins. According to Rakuten Intelligence, 100 PokéCoins is the most expensive set, and nearly 37 percent of in-app purchases are made with that one dollar. Also, while many buyers only buy entry level Pokémon Coins, mid level at 1200 PokéCoins is the most profitable trophy in the game.
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Another strategy that will help you make money quickly from your app is the subscription model. But this model is useful for applications that have high user activity. This type of business is often offered in music/video apps like Spotify, Netflix, and Apple Music, or productivity apps like Todoist.
Are you looking for endless sources of income? With in-app advertising, app publishers earn money based on interactions with ads displayed in the app.
In-app advertising is the most common way to monetize free apps these days. By the end of 2019, mobile advertising will account for 72% of all digital advertising spending in the US.
However, to avoid common mistakes, you need to know these important questions before running an in-app ad. For example:
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Also known as influencer marketing, referrals are a very effective way to monetize mobile apps. Let’s explain.
If you already have a large user base, your brand may be interested in using your mobile app to connect with your target audience. There are two types of support agreements:
In fact, choosing support with your trusted partners can be a win-win situation. Not only are you monetizing your app, but you’re also connecting your users with brands they might need. For example, if you have an on-demand food delivery app, you can work with partners who share these values, giving users valuable tips about nearby restaurants or coupons. .
For the best results, you need to develop an overall strategy that includes several of the techniques discussed in this article. But if it’s full of ads or in-app purchases, your users might feel uncomfortable and install the same thing. As an app publisher, you must remember that apps are not profitable unless people use them.
How To Create An App
Now you know how to make money with programs. Next, you should benefit from the fact that mobile apps will be developed in 2020. In conclusion, there are endless opportunities related to the money you can make with apps.
If you have any questions about outsourcing, ask them below! We will try to answer each of them and maybe write another article about the most frequently asked questions about outsourcing.
In Vietnam, we have expert project managers with skilled teams who have achieved excellent results for clients in more than 10 countries, especially in the US, UK, Germany, France and Singapore. You can contact us at [email protected] or (+84) 936 281 059 for more information.
Tags:app development app development company make money with app make money with app find appcan make money outsourcing companies make money with apps mobile app development make money software outsourcing company Quick Summary: Free apps use different investment strategies and business models such as in-app advertising, in-app purchases, subscriptions, support and partnerships, API sales, and product sales.
How Do App Developers Make Money With Free Mobile Apps?
Regardless of what this statement says, you can’t deny that FREE programs are very profitable. The “free” tag doesn’t stop them from making moolah.
A recent Sensortower report shows that mobile users will spend $111 billion on mobile apps by 2020. Call it the global shutdown effect, but it’s high enough to make software companies a hundred billion dollar market. Any guesses on which app has the most?
To name a few, TikTok, YouTube, Tinder, and Tencent Video are non-gaming apps, while PUBG Mobile, Arena of Valor, Pokemon, and Coin Master are the most popular mobile games.
At this point, you may have an epiphany. If not, let me tell you: All these programs are free, but they use smart financial strategies to earn money. SY
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