How to Earn High Revenue with Android and iOS Apps on Google Play Store & Apple Store while running either a free or a paid app. Make money with your Android and iOS native app.
In the course of this article, I will show us how to make money with Android and iOS Apps. When people ask developers to build a free Android and iOS applications for them, they are not expecting to make money from it at first, but nearly all of them seem to wonder how they can make money from their free apps.
Between Android vs iOS Native App development: Which one should I Build first?
From the look of things, it is vividly clear, that it is not enough to build and release an app on the Google play store or Apple App store that solve problems for users. As the owner of the app, you too also need to know earn some revenue with the apps. Therefore, you must understand how to monetize your app using different methods. As we process, we will highlight and discuss five (5) ways your free app can earn you high income. Now the question is; How do apps make money from users without selling physical products?
1. Trial Versions: “Freemium” apps to make money
Many people ask us, if they upload their apps for free download, how will they make money? In short, does free download apps make money for the owner? Yes, it can. The secret here is simple. All you have to do is to make your application a trial version and free to download. The full version will come with additional features at a small fee.
As a result, your users who download your app, could get a glimpse of what you app can offer them at if they decide to buy the full version. Think about it, if your application is interesting enough (especially gaming), a lot of people will be ready to spend their money for extended version of the app.
2. Full Versions but in-app purchases
Statistics has shown that in-app purchases is one of the best strategy to earn money from your users. It is an avenue where you give access to your full version and then ask for payment to get some extra feature by making purchases within an app. In the meantime, this is one of the most popular methods to make money on free full version apps.
However, this method typically comes into play in gaming apps, where a user needs to purchase additional coins, power ups, weapons, outfits, unlock stages etc. On the other hand, how much revenue can be made from an app in this case?
Regrettably, there is no statistics on this as it is not easy to envisage the total amounts of possible income. To get better understanding and possible result from this method, you have to try it out from the app you already have or currently building.
You must also keep in mind that you won’t get full disbursements that your users pay from Apple if it’s an iOS app. This is because, App Store currently functions on a 70/30 division ratio, meaning that Apple gets 30% of total users purchases (and you get 70%). You must accept this fact, if you must use the in-app purchase.
3. In-app advertising
This is the most popular and one of the simplest methods of making money with mobile apps. If you make research about the best advertising platform, you will notice that the largest ad networks are Apple iAds for iPhones and Google Admob for Android applications. Furthermore, you must know that there are certain policies your app must adhere to before it can serve ads to the users. Fundamentally, there are two options for generating revenue. They include: CPM (cost per thousand impressions) and CPC (cost per click). At first, you will not be able to earn much especially if your app is newly launched – but after a several thousands of downloads, your revenue will increase.
These are the Top five (5) mobile advertising networks
- AdMob
- Millennial Media
- Apple’s iAd
- Flurry
- InMobi
4. Sponsorship Advert
Winning a sponsor is another great method of making money with mobile apps. If your mobile application is able to solve a specific needs of a niche group of users, there may be a chance that you will locate serious partners who would like to sponsor it to reach numerous target audience in order to pass their message to them. In the light of this, you will need to provide a particular sponsored content for the app and present it as an advertising content for another company.
5. CPI (Cost Per Install) networks – pay per install
If you are the type that download apps a lot, then you might have seen those pop-up messages in games and other useful applications, which prompt you to see another app or game that you can install to get coins. Typically, those mobile applications ads are animatedly served depending on the type of application you are using, your interests, age, gender, location etc. There you go; this method of earning revenue with apps are supported by CPI (Cost Per Install) companies, which are also equivalents to CPA (cost per acquisition) in the internet/web marketing globe.
Top-5 mobile CPI app networks to earn revenue
- YeahMobi
- ClicksMob
- Matomy
- Chartboost
- Playhaven
How much is charged per installation?
First of all, for Apple iOS apps, an average cost per install as at February 2019 was $1.78 while for Android devices was $2.51. In all, you can search to find an idea of mobile games CPI rate depending on the region and type of industry.
How much money can you make from an app?
The money you will earn depends on the volume of time and efforts you are investing into development of your app. Earning revenue with apps is not easy as it sounds especially when you don’t spend much time in finding your best option. In fact, it is recommended that you do a thorough research of your envisaged users, your market audience and your competitors. Remember that ads are annoying to most users if it’s not relevant to their needs. Therefore, this research will help to make sure that your ads won’t become the main reason why your users are deleting your app.
You must know your users to earn revenue:
As can be seen above, it is important to make a good research about preferences and demographics of people who download your app, so as to offer appropriate adverts, based on their wishes and needs.
You must know your market and you competitors to earn revenue:
Even though it is difficult to really get to understand how much revenue Android and iOS apps make on your target audience, you can certainly find out which monetization techniques your competitors are currently using. Take adequate measures to observe how their users tend to react to their ads and then use the statistics to your advantage and advance your own monetization strategies.
Do not forget that any revenue-making choice you choose, it is advised for you to understand that only a fraction of the app down-loaders will help you get income from your app. For the love of God, this is one of the key reasons you need to build up a very large user and active base. Given these points, it’s also great if you sign up for analytical tools that will assist you direct lifetime customer value, free-to-paid conversion rates, and so on.
We have just concluded the major points you need to take into accounts if you want to make money from your mobile app. It is believed that you now know how to make money on free apps. It’s now your turn to try to apply the highlighted strategies. To summarize, you have to take into account your target market, user’s locations and goals of your business. At the end, whichever strategy you decide to choose, it’s up to you to ensure that you observer the data and processes and interpret them correctly. We wish you the best in your endeavours!
Next Article that are related to make money from app
- Firstly, we will write on the best apps to make money fast
- Secondly, we will focus on the best money making apps 2019/2020
- Thirdly, we will highlight the money making apps for android phones
- Fourthly, we will update you on how to make money from mobile apps
- Fifth, we shall show you how to make money creating apps for android
- Sixth, android apps that pay you money
- Seventh, how to earn money from developing android apps
- Finally, create an app for free and make money
