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Having apps on your smartphone is no longer a kind of joy – it is a real necessity, an option for work, and even a facility for handling business, and doing many other things. In this global world of apps, there are so many things to explore.
Still, many features and approaches remain unrevealed for users, especially those that are associated with gaining profits, even where may not expect that. Did you know that many apps are designed in a way to gain money? And it is not about subscription plans only. Free apps can also raise money easily. Are you surprised about that? If yes, PRO developers from https://jatapp.com/services/application-development/ are ready to share with you more details on the matter, even about monetization strategies for free apps. Surprised more? Let’s review all available options plus tips for choosing the best monetization model…that may even suit you if you decide to develop your app.
Did You Know? Free Apps to Raise Money
The model of offering a free app is a modern modification of the well-known model of offering commodities for free. In the digital era, the Internet simply has made available not only goods but also created digital products. If earlier providing razors, blades, cell phones, calling, and data plans for free were possible…and now free apps also. It is a feasible and fruitful thing for modern entrepreneurs. Among the reasons in favor of this endeavor is the option to monetize it easily, with lots of associated benefits, of course.
About the Benefit of Free App Option
Getting new users is a time-consuming and sometimes even herculean effort. It may become a number of times easier if a tool is offered for free. This approach also removes all possible hesitations and barriers while getting an app. Any free app always has a larger user database. This is always a matter potential investors pay attention to. The larger database of users – the greater investments that may be obtained. And, of course, some options can be made free and some of them may be payable, premium ones. If a user likes your concrete app, he/she will more likely purchase some premium features. Still, this is not the single option to get money for an app.
Making Money with Free Apps TOP Monetization Strategies
Wish to know more about how do apps make money? Review the most popular ways of doing this:
This is probably the easiest and most widespread way to monetize any app. A good thing is that it is usually done thanks to using a third-party advertising network. Ad publishers pay app owners to display their ads in the target apps. Yes, you provide your app and you get paid for it. Finding such options is possible on different marketplaces. Calculation of payouts is made according to several approaches:
- cost per view (CPV)
- cost per install (CPI)
- cost per click (CPC)
It is possible also to place ads in different forms:
- Banner ads – placed usually on the bottom or top of the screen; ads contain text and graphic elements.
- Interstitial ads – full-screen ads that are displayed at special occasions and times, for instance, after completing some tasks or between the rounds of something. Usually, they interrupt the ordinary course of things for a user. So, it is necessary to be moderate with these apps.
- Video apps – usually last 10-39 seconds and are placed between the closest rounds of something or between some events.
- Rewarded video ads – these videos induce their viewers to go on with a video ad. Frequently, specific phrases, like «the best revenue generator» are added to the video ads of such kind.
- Native ads – are less interruptive in nature as they blend with the apps’ experience. Instagram in-feed ads are good examples.
- Payable ads – allow active interaction with the users. Challenging a bit as it may be difficult to maintain the balance between the ads and app content. If this balance is broken, an app may be a bit intrusive.
2. Freemium is a widespread model focused on selling premium features to free users. Basically, all users are offered some standard functionalities. But, they can also get access to other advanced features for a payment. This payable option opens an enhanced customer experience.
The main idea of this app is that a user is ready to pay when he/she recognizes all utilities of an app in use. The approach introduces a good balance between free and paid options. This is a bit intrusive way to make money from free apps.
This is one of the variations of the freemium model. It works simply also. Limited features and options for user experience are provided first. But, to unlock the entire access to the app’s features, a user needs to opt for one of the subscription plans. This option of free app monetization enables stable and predictable income for app owners and a better experience for users as well.
Simple Steps to Define Suitable App Monetization Model
If you think about developing your app and wish to know more about how to get revenue for apps, these are major steps for assessing all available options and picking the right one for your concrete case.
- Research the market
It is a good (and even foremost) idea to realize how the market where you are going to laugh your app operates. Find out more about the list of similar options, customers’ expectations, and, of course, their monetization strategies. It is a good idea not to launch your app in an area where there are lots of similar ones unless your app is totally distinct. A good idea is to think about resolving some new issues or those that have not been covered yet. Gain more users and profits, of course, thanks to your proactive effort.
- Who is your target audience?
Your approach to making an app has to be customer-oriented solely. Identify clearly what things your potential customers expect from this user experience, what things inspire, and what points probably irritate. It is a good idea to form a profile of your target audience, including the info about preferences, age, gender, and other parameters depending on the niche where you are going to launch your app.
- What about innovative app ideas or concept
To get a profit, you should have an amazing app for obvious reasons. The more users you have – the more revenues you can potentially get. There are two basic points to think about when developing your product idea or concept. First, how to make it high-performing in terms of resolving the troubles users may have? Second, how to make this product user-friendly?
- Defining your perfect app monetization strategy
This aspect may vary, of course, depending on the chosen app. View the strategies to monetize free apps listed above. Still, in any case, your app should have a catchy title, a clear and specific app description, and good app previews (screenshots, videos, and other previews).
Having an amazing idea for making an app is one point. You should realize it for sure. Still, there is no point in expanding your audience without monetizing an app you have.
Nowadays, the Internet enables doing this effortlessly, sometimes seriously in a couple of clicks only. The core aspect here is to detect the most suitable monetization strategy and guide in your case. The Business of apps is growing rapidly. But, there are still many niches to cover. Find some new or underestimated problems and help with making the lives of your users easier.