How to Make Money from Mobile Apps?

Hi friends, If you’re fresh to the market, looking to start it, or have a brand-new idea for an app, some of your primary questions are likely along the lines of “Can you make money from an app?” and which mobile app development company in Singapore provides a good solution to it.

If you begin your app using one of these monetization models, you have a greater chance of getting more revenue than any other model.

Nowadays, All a businessperson is here to earn money online. To fulfill this purpose, each entrepreneur tries various business opportunities to earn money online and eventually settle for the most reliable long-run profitable project. Some give web/ mobile services; few create smart web tools to achieve their desired goals. If you are questioning how to earn money from apps, then you should read this blog. This blog will give you amazing facts & tips to develop money-making apps.

And if we go on to explain the revenue generated by iOS app development  versus revenue generated by Android app, Apple’s App Store makes almost double the revenue of the Google Play Store. Even though most of the app users download apps from google play store, it seems that App Store users are more likely to pay for apps.

Even though the free app will get us more downloads, how will it help us? Are In-app purchases more beneficial or low priced mobile apps? Let’s understand the differences which will support you to make the decision.

              Difference Free Apps and Paid Apps

Free apps

• These apps attract more targeted users and increase visibility and downloads.
• To avail, excellent reviews, these apps, are an excellent way to optimize your app on the app store.
• They are less costly as they are not complex than the paid ones.
• Multiple monetization possibilities in the future

Paid Apps

• The paid app has fewer downloads, you will automatically lose potential clients who are not ready to pay.
• Greater user-expectation- you will have to make sure your app works flawlessly and gives a full set of highlights.
• The development and design of paid apps is pretty high
• Limited monetization choices monthly and yearly fees.

Ok, so you can see that there are several different ways to make money with an app development company in Singapore, but which are the top options here? How do people make money from free apps in these ways? free apps earn money using one of these app monetization strategies Let’s review the top and most popular revenue models of how to make money on free apps.

 Most Popular Revenue Models for How Do Free Apps Make Money

1.In-App Purchases

In-app purchases is a very successful strategy used by thousands of apps in both the Google Play Store and the Apple App Store. In-app purchases provide users to buy something right in the app.

There are three major types of in-app purchases:

• Consumable. Consumables are produced that a user can use only once: for example, virtual money or health points. Such in-app purchases are usually used in mobile games.
• Non-consumable. Non-consumables are features that users buy for permanent use: for example, additional functions or ad blocking 
• Subscriptions. Your mobile application may allow subscriptions that unlock some content or functions for a certain period of time. Subscriptions can be either non-renewing or automatically renewing.

2.In-App Ads

Ads are a driving strength of the global market. They’re everywhere, and mobile apps aren’t an exception. In-app ads are tools of affiliate marketing. With in-app advertisements, you advertise your affiliates’ products (apps, games, etc.) inside your app and get paid if your users interact with those ads. 

3.Sponsorship

Finding a sponsor is a really profitable monetization model. Normally, it works this way: you build a mobile app that gets quite a quantity of users, after which you contact a sponsor company and offer to renew the design of your app to match the sponsor’s brand

There are two types of sponsorship deals: you can either split the profits with your sponsor or accept a monthly sponsorship fee.

Conclusion:

If you’re thinking of beginning a mobile application development before you should carry out a competitor analysis. Search the app stores you’re going to offer your free app in and search for similar apps. Next, find out what your competitors give, what kind of designs they have and, more importantly.

This data will support you to learn from your competitors’ experiences and see what mistakes they’ve made so you can make your free app better and more important to customers. In the end, a better app means bigger profits for you as its creator.

I hope this blog helps you to know how to make money from apps and how beneficial are these mobile apps. To know more features on app development, you can get in touch with our expert app development company in the Singapore team at DxMinds.