Besides creating a great mobile app, we all want to earn some money from it. Building apps is a large business nowadays, and you need to make money to keep it going. Unless you have an ingenious idea, or you have come up with a unique problem-solving app, it’s always hard to be competitive, and have a solid cash flow. Since we want to help you monetize your work, here’s a list of 8 ways to do so.
If you decide to go with this model, make sure your app is flawless and so useful that users don’t mind paying for it. If you get bad reviews at the beginning it will be very hard, almost impossible to correct them. And it’s obvious that you depend on good reviews. Also take a good look on your competition and price they have for their products. And be sure to remember that cheaper apps have more downloads than the expensive ones.
You want to go with “one-time paid” model but you think your app is worth more than those from your competition? Then go for this model. At first put lower price on your app, collect good reviews and let those lucky ones enjoy your app. But when number of downloads starts growing and good reviews keep start piling up, increase you price. If users know that app is really good and useful they’ll pay for it, that’s for sure.
Create your awesome app and let users download it for free. But wait a minute, where is the money? Well we didn’t say that everything should be free. What you need to do is limit functionalities of the app and then offer in-app purchase. Once the users get a basic and free version of your app they’re more likely to pay for additional features.
If you have no idea what to create as additional feature, adds are here to help you a bit. You can include Pay Per Click (paid for each Ad click) or Pay Per Impression (paid for each 1000 display views) adds. But make sure your adds are not intrusive because users don’t like that. And too many adds can make them stop using your app. You also must know that you need lots and lots of app downloads to really start making money with the advertising model.
If you don’t like the idea of freemium then create two versions of your app. One should be “Lite” which means everyone can download it for free. And the other one is “Paid” which means money, money, money. Is there any problem? Well… since you now have two apps your reviews are split, so make sure they all know about the cool stuff in your full version app. Now that all of them had opportunity to try out your app there is a bigger chance they will be willing to pay good money.
If you plan to build an app that will have regular updates, especially data updates, then you can offer subscription to your users. That will help you generate more leads. More leads = higher probability to making a sale. This is a good way towards having continuous income.
This approach is popular with game apps. Offer your app at one price, but you can raise the price with every new version. What you need to do is create new features and make users wanting more.
Even if you have already charged your app’s downloads, you can create in-app purchases. Give your users a fully functional app, but offer fee-based additional content, add-on features, or upgrades.
Yes, there’s more!
One thing we haven’t mentioned is marketing. It brings you more leads, and has a big role in preparing your sales (generating numbers). Be sure to promote your app in all the ways you can. Blog about it, share across social networks, forums, create teaser videos, etc. Let people know you’re in the game. Make sure you get some money for your hard work, hours spent developing your app, or investing in app development. Decide what suits your goals and your app the best.