For sure, you’re not just making an app for the fun of it. You, of course, would want your app to bring you cash, new users, customers and help your overall business. Here are the things that can do just that:
4. Free apps with ads.
- Freemium for games and apps.
This isn’t only the most common monetization means for apps and games but the most lucrative as well. In fact, in-app purchases got the 78% of the entire Apple App Store’s revenue in the United States and more than 90% in Asia.
A freemium game or app is offered for free to the users but with limited content, features, or digital goods. People can access the premium version to get extra content or feature via in-app purchases. This can also go with monthly subscriptions. Offering a free game or app enables you to get rid of the price barrier that usually hiders people to initially download an app.
- One-time paid applications.
You can also have an app that users can pay only once for the initial download. The updates and additional features will then be free.
Paid apps can be a success if it’s made compelling enough for people to buy even without trial. The drawback for this type of monetization is that there will be no repeat profit for the current clients. You still have to find new clients each time.
- Paid apps with extra paid features.
This model is promising although it has received lots of criticism, given how unfair it is to spend money to download an app then pay over and over again to get more features. Sticking to this model can be tricky, but if you can market well and highlight an attractive value proposition, it could actually work.
4. Free apps with ads.
The above options all require users to pay. This option, on the other hand, involves giving away your app for FREE. However, you can get good money through advertisements. This is the ideal model to use if your app calls for extended and frequent use since you can make the most money if there’s a huge number of people who download and actually use your app.
5. Google Admob
Simply create a Google Admob account and drop your ad code inside your Chatwing dashboard. Then ads will begin displaying inside your app and you start earning.
5. Google Admob
Simply create a Google Admob account and drop your ad code inside your Chatwing dashboard. Then ads will begin displaying inside your app and you start earning.
There are lots of monetization options. It’s up to you to choose which one suits your app best. However, it’s been proven that the type which reaps the biggest revenue is repeated purchases and transactions from current customers. As long as your app answers the need of the market, the demand for it won’t wear out, and your revenue will remain intact.
