Ever wondered how free mobile apps generate revenue?
This might sound astonishing but people generate even millions out of their free apps! Following the most appropriate monetization strategy, one can easily make good money in a short span of time.
Overview This presentation outlines ďŹ ve proven ways to fetch big bucks using free mobile apps on Android and iOS. Before kicking o the development of a new app, it is imperative for you to understand how these free app ideas make money to create a sustainable revenue model.
It is clearly a myth that the paid apps are more proďŹ table than the paid ones, in fact, the latest stats and studies suggest that revenue generated from paid apps might slow down compared to soaring free apps available in the market. So, if you have
decided to make a free mobile app, continue to this presentation and get an insight into how you can turn your free mobile app into a lucrative business model. 03
1- In-app purchases:
One of the most popular ways to generate income out of your free mobile app is using in-app purchases that enable users to make purchases of virtual items directly from the app.
In-app purchases can further be divided into two categories including: . Consumable Purchases These refer to products that can be used by the users only once. This model is most likely used by game publishers
. Non-Consumable Purchases These refer to features that users can buy for permanent use. This mostly includes additional functions or adblocking.
2- In-app ads: Not to be ignored, advertisements are the biggest source of revenue if you are considering making good money out of your free mobile app. Companies have big advertising budgets to showcase their products and services, and if they ďŹ nd your app a platform to reach their target audience, you are certain to generate huge money out of it. 75% 4 Among the several ways to display ad on your app, below listed are few ad types you can choose to display:
â—? Banner ads: Among the most common ad types are banner ads that are displayed on the top of your app screen with some graphics and content. These can appear in different sizes and are less obstructive in nature as users can freely use the app even if it keeps appearing on the screen. 75%
83%
Lorem Ipsum
Lorem Ipsum
42%
17%
Lorem Ipsum
â—? Interstitial ads: These ads cover the full screen on your mobile application as "pop-ups" that may appear at specific time frames. Users can watch or close these ads as the close button is provided at the upper right or left corner of the ad.
â—? Native ads: Not much liked by users, yet native ads work well for free mobile app developers. These ads do not seem like other ads in fact, they are integrated seamlessly into your unique mobile apps just like any other natural elements in the application, to promote a particular product or app. However, you should keep in mind that the revenue generated through this means can be a little low, compared with other ad types.
â—? Video ads: Showcasing video ads on your free mobile application can definitely bring you a good deal of money. These ads stream automatically on the screen and are often used in exchange for some in-app rewards.
â—? Freemium: To those who are alien to this concept, the freemium model refers to a model where basic features of the application are provided free of cost while getting access to advanced features, requires the users to pa and then avail special features.
� Sponsorship: There is no doubt that sponsorship can be used as a powerful monetization strategy for free mobile users. It is not always easy to find a sponsor but the sponsorship program can benefit both i.e. the developer and the sponsor if you build the right niche audience and match the sponsor’s brand.
â—? Affiliate/ Referral marketing: Referral marketing, commonly known as affiliate marketing, involves promoting a third party product or services to unlock more revenue opportunities.
Thank you! With continuous new apps developing every day and multiplying users, the mobile application market is sure to grow in the near future. Now that you know how to monetize your free mobile application, you also know how to become a millionaire. You can opt for any of these techniques or leverage on multiple options to optimize and monetize your free mobile application in the best possible way. Source: https://articles.abilogic.com/400264/how-fr ee-mobile-apps-generate.html