How to Make Money from Mobile Applications?
Every businessman who comes online with their business has a motive to earn money from it. To fulfill this goal every entrepreneur work with different opportunities to earn a maximum amount of money and for that, the businessman has to settle a long run profitable project. Many of them provide mobile services and build your application with smart tools to achieve their goals and fulfill their dream. Read this blog to know about, how you can make money from mobile applications. The blog will guide you about the facts and the tips to develop your money with apps.
Statistics have shown that the Americans on average spend their 5 hours on mobile apps. Scroll the new feeds, streaming music, etc. The people spend enough time on mobile apps and that can become a huge opportunity for the application developers.
In digital platform the mobile apps are growing at a tremendous rate which is why mobile app development company has also offered the solution for the money-making for mobile applications.
Advertisement Supported Mobile Applications
We are all aware of this in the app ads. Google and Apple, respectively, are offering ad networks such as AdMob, iAds. But for sure, it will drive a huge amount of traffic and downloads to make a good profit from your free application.
Free App or Paid App
You can develop mobile applications for free or premium paid version. To download the premium version of an application the user has to submit the one-time fee to upgrade the premium application for offering the features ads. When you develop a free application then it offers a link that lures the users to get the premium features.
If you follow the link then you directly landed to the App Store where it shows the option to upgrade the application. A lot of applications are shown there as a demo application. When the user downloads the application then the first appearance shows the buy paid version for better features.
When the customer decides to pay to download the full version of a free app, this turned out to be a real success.
Its gives the user an average time like 14 days for the free trial after that user has to pay for the better features. It eliminate the best key features that user craves for and the pay the amount for the better features.
In this situation, ads can also work better. In the app store and play store, there are many apps that promise to eliminate the ad support feature when upgrading the app. So yeah, the free version can make a profit from advertisements and by purchasing the premium version, consumers can get rid of those ads.
Cost Per Install Networks (CPI)
CPI is new in this industry. There is a third party who charges every time your application is downloaded.
The cost of charge is between $0.80 to $3.00. In some way, this method is also convenient for developers to drive a consistent profit to the application.
The premium applications get you an assured amount of money but it is quite tough to attract the user to download the application.
What’s the Future of Mobile App Development?
There are limitless opportunities for mobile app development companies to get featured in the app market. The app market is growing since Day 1, there is never a slow down in this market. More than 18% of the android developers are earning more than $5,000 per month and the same amount with 25% of the iOS developers.
I hope this blog helps you to understand how you can make money with mobile apps and its benefits.