How App Developments Can Make More Money
Freemium
This is a business model in which a product or service is provided free of charge and made accessible to everyone. As the word suggests, this was originally done by offering the product for free and charging for “premium” features.
This can be done through subscription or in-app purchases.
In-App Purchases
This is a feature that allows users to purchase additional content. The users might need to pay some amount of money to buy a wide variety of virtual elements such as blocking ads, premium app content, and so on.
The purchases can range from game extensions to more levels and even new characters. In the case of gaming apps. In App Purchases could be powerups or coins for playing on a level without having to wait.
In-App Advertising
This is a form of marketing that delivers ads to the user while they are using an app. There are several format such as native ads, display ads, video ads and etc.
For native ads, it blends in seamlessly with the content on your site, and they provide an opportunity for advertisers to create targeted messages for specific audiences. While video ads can be used for making money on free or paid apps. It’s perfect for games and other apps where you want to provide a little entertainment while also getting an app download or purchase conversion.
For displayed ads, the banners are located at the bottom or top of the screen, or in fullscreen mode. Advertisers pay for each click on their ad, and the advertiser pays more if it’s a banner ad type instead of a fullscreen one.
Sponsorships
If you want to earn money from your mobile app, then the answer is simple: find a sponsor!
For example, if the app is a game, it could be sponsored by a company like Disney to give their characters more exposure. If the app provides information about something in your area, someone might sponsor the content to ensure that people know they’re available for services or products.
Referral Marketing
This is a type of earning that involves giving people incentives to share your app with others. When someone downloads your app, they have the opportunity to then send it on to their friends and family members via email or social media channels.
The person who referred them earns a commission for every download from their referrals. This can be a great way to earn passive income while doing something as simple as sharing.
As conclusion, the app development industry is rapidly changing and it can be difficult to keep up with all of the new trends.
If you’re looking for a way to increase your odds of success in this competitive market, then these 5 tips should help! Need a customize app? Contact us – the best app developer in Malaysia
