Earning App: Everyone thinks mobile applications generate revenue in Billions of dollars. But that’s not true only some applications earn profit in billions. You can count those huge revenues generating apps in fingers.
If apps aren’t making more profit, how can the developers have more dollars in their hands?
All Apps will not make money like the apps that develop by android and iOS. Top apps will make moreover $1,00,000, but most apps make yearly revenue between $1000 to $5000.
Earning App, There are millions of apps already in the play store and the app store and millions of apps are yet to enter the mobile application industry soon.
This will create a tough competition among mobile app developers to develop an app that will make revenue in billions.
“Can you make money from an app?’, ‘How much can you earn from an application?’ are two questions you should ask yourself at first.
So, you need to be very careful before developing an application and also consider will they get success after entering the market. These things can lead you to develop a successful app.
Develop a plan for your application – Earning App
If you are introducing a new mobile application you might have doubt will this app make money?
So, develop an app plan before making an application. This will surely give some idea. This plan should contain the main things for developing an app.
The first and foremost is the platform. It’s important to decide which platform you are focusing to design and develop an app.
This will give you an idea about the platform difference and potential need of an app on that platform. Due to the development of the mobile app industry in recent years, a huge demand for developers increased at an unimaginable level.
Android and iOS are the two dominant platforms in the app industry. They make heavy earnings, which any other platforms can’t even reach. Also, the developers work in the Android platform and iOS get a huge salary.
You can even develop apps on other platforms but they will be considered successful only if they make a profit like the apps in Android/iOS.
2. Purpose of the app
App purpose will decide how much you can earn from your app. Because the purpose of your app like the service your app provides to the people, which problem of people it will solve, can help you to think about the app profit.
The purpose decides whether more people use your app and tends you to generate revenue.
3. Audience targeting
The audience targeting will give an idea, to whom you are developing an app.
If more people will not use your app better not to waste your time. If your targeting audience is very low then you can get to know how much you can make from them through your app.
4. Analyze your competition
In the mobile application industry competition is more and your need to have a good strategy to sustain.
It helps you to decide, in this competition, how much profit you can expect with your business and marketing strategies.
5. Technology you use
Think whether the technology you use in your app will be preferred by people.
If they how many will prefer to use your app and how much are willing to spend on your app. This gives a clear idea about earning that you can make from your app.
Before developing an app, ask some questions to yourself that are helpful for your app success and to earn from the app. Those are
1. Should I develop a free app or a paid app?
The answer to this question will make you think if you want to earn through the app or to reach people.
2. What types of existing apps are there and can you make money for an app, if yes how much?
The best solution for ‘how much you can earn from an application?’ is with a question asking to yourself.
3. For monetization, which platform is the best to generate revenue?
You will get clear clarification based on what models you would like to use for your app.
Earning App – App monetization for revenue
According to many developers, the app monetization is the best revenue source for their app. App monetization is nothing but the strategy by which app developers gain profits.
The different app monetization is In-app advertising, In-app purchase, subscriptions, affiliate programs, Ad remover, etc.
1. In-app advertising
In today’s world, developers use a popular strategy that will drive more revenue is In-app advertising. In-app advertising is nothing but mobile app advertising.
Many users download and use mobile apps freely, but they need revenue to upgrade that app. So, they include advertisements with the apps that will display on the screen while using the app.
Developers will get paid for each time when the user interacts with ads. This will make users spend more time in your app and increase more purchases of the product through your app.
2. In-app purchase
In-app purchase is nothing but purchasing premium features in your app. Users can get Some premium items only they pay for. So, this also makes more revenue like In-app ads.
Display the premium features on the screen and convert normal users into premium users. One who plays games and design apps utilize this app monetization.
Some users want to subscribe to the app to get their offers, content features very soon before others.
Those users are loyal customers to the app owners. They provide more offers and permission to use many features in the app.
You can provide different Subscriptions like monthly, yearly, and annually for an amount to the users. The example of subscriptions is music players, amazon, etc.
4. Affiliate programs
Most companies use affiliate programs for generating revenues easily. Affiliate programs are nothing more than promoting other apps in your app to the customers.
This will not generate more revenue but can promote other apps for the exchange of promoting yours in their apps.
Sometimes this generates more traffic to your app if you affiliate with the major websites and apps.
You can pay per customer generated from the app according to the affiliate program agreement.
5. Ad remover
Nowadays everyone wants to use the app without advertisements. Because they create irritation or disturbance to the users. So, you can charge them for removing ads in your app.
This is one of the most app monetization preferred if you don’t find any other monetization models. You can use the above app monetization for free downloading apps.
Now you may get more ideas on how you can earn from the app but before that decide which category you are going to make an app.
what are the highest revenue-generating app categories. Some of the famous categories which help you to make more profits are,
Category in which you can invest and develop apps if you want to earn more mobile applications.
2. Entertainment & Digital Services
This segment had reached a peak level after the introduction of many music apps, podcasts, and OTT platforms.
Lifestyle apps play an important role in everyone’s daily life. Grooming themselves with Trendy style clothing and ornaments has become a fashion.
4. Finance and Business
Entrepreneurs and young investors warm welcome finance and business apps.
Learning app is in need of many people because it either develops skills or teaches new skills.
Refer to this article if you are confused about how much money can an app earn and remember the app monetization when developing an app.