Making mobile applications that can generate money is something like using your time in the things of your interest and generating income from them. If kids are told that by playing games they will earn money, they will happier as they can earn from what they love to do.
Basic Strategies for Monetizing your Applications:
- Cost: If you have any unique app with you, then the best way to earn money from it is to sell it on the app store. Selling it on apple store can give you more revenue as there you can see the mobile applications available starting from Rs. 99 to Rs.9999999, depending on the features. Certain percentage of your revenue will be distributed between apple & Google and remaining they will transfer to your bank account as they have pretty good transfer systems.
If you really wish to make profit then we advise you allowing people to download your app for free so instead of keeping a price tag on it.
In case of any particular apps that are developed to solve certain business problems then you can charge accordingly however it should really solve the issues providing proper return on investment to the buyer.
- Free app Download: Allowing users to download your application for free is called as Freemium model. Generally, there are three types of applications mostly purchased by users:
- Applications having limited functions or trial version those when purchased gives you the benefit of fully functioning application.
- Applications providing virtual goods such as smurf berries.
- Subscribing to any app providing news or informative content.
- Advertising: You can place an advertisement on social networking sites such as Face book in order to sell your app at a profitable price. Face book plays an important role in assisting people to monetize their applications.
Certain advertising mechanisms such as Kiip can also be used and the best part is that they offer rewards to those application developers and users who achieve any highest level in a game.
- Other ways: Apart from the above mentioned strategies, there are many ways to earn income from applications. One such way is to create an app that will be easily acquired by internet giants like Google or Face book as we can see face book acquired What’s app, an application that is the most hot favorite among people and it earns a huge amount of revenue without much advertisements or subscriptions.
If you wish to generate revenue from your apps then you can create one which can be most popular like as what’s app that Google or Face book would love to purchase and if that’s not possible, then you should go for Freemium model and identify what suits you the best from in app purchasing, mobile advertising or a combined strategy that includes both.
In case you wish to know the process of developing mobile applications, feel free to speak to the mobile app development professionals at Softqube Technologies.