How to Make Money with Free Mobile Application?
The main purpose of the mobile app development is to make money or increase business performance. But, every person or business who wants to develop mobile app ask themselves that how I can make money with free app. If you are developing a mobile app as a business owner to enhance your customer experience, then you no need to worry more about monetizing your app. Because you can generate revenue from product or service purchasing through your app.
If you are new to the business world, you don’t have any product or service to offer, but you have only an app idea, then you definitely need an app monetization strategy.
Below are detailed different app monetization strategies that you can consider to make the most of your mobile app:
1. Freemium Version: In this, you offer app free for few weeks or months. After that if the user wants to continue using the app, he need to go for premium version, for that you can set a fixed amount on monthly or yearly basis.
2. In-App Purchases: In this method, you offer the app for free of cost, but to get more features and functionalities, you encourage users to go for in-app purchases. For instance, your chat app contains text messaging and voice calling facilities. But if your customers need video calling facility that you have, then you can offer them that as a premium feature. This is like a premium feature in many games, in which if a gamer wants to go for next level, he purchase those features.
3. Ads: This is very lucrative compared to other methods, in which you will allow advertisers to place their ads in your app, the ad may be about their app or products or services. In this, advertiser use AdMob (in case of Android) and iAd (in case of iOS) system to place their ad in your app.
Below are listed different types of app ads:
• Interstitial/fullscreen: This ad is shown at the end or immediately after exiting the app or game.
• Capture form: Capture form ad is in the form of a contact form, which asks users to submit it by filling the required details like email, name and contact number etc.
• Advanced overlay: This ad generally consists of a form for users to sign up to a service, purchase products or download an app.
• Banner ads: Banner ad is generally less width ad but it stretches from left end to the right end of the screen in the extreme down point of just above the extreme down point of the screen.
• Notification: Notification ad is shown as a push notification on the device’s status bar.
4. CPI Networks (Cost Per Install): In this method, you will enter into an agreement with other app owner to publish their app ad in your app. They will pay you on the basis of number of app installs.
5. Sponsorship: This is the one time deal and most profitable. In this, you will approach a brand to sponsor your app venture. You can reach out sponsor before developing the app or after the app is developed. If you want to reach out before, you should impress them with your app idea. If you want to reach out after, you should show them the number of downloads or type of users you’ve achieved.
Once you’ve got sponsor, you will show their brand logo, content or image at a fixed place of the app screen or how they want for agreed time period for set amount.
- In order to get the attention of advertisers, your app should be attractive, easy to place ads and have more downloads.
- There are few differences between add policies of iOS and Android.