Mobile applications have radically changed our lives from the very first day of their existence. And this happened in just 5-6 years! With app help, we can easily:
- order food;
- book tickets to anywhere in the world;
- get acquainted with the novelties of literature;
- shoot dragons;
The mobile market is developing in leaps and bounds. It is difficult to imagine how much money revolves in this area. According to statistics, the total revenue of mobile applications in the world amounted to $ 2.4 billion for the first quarter of 2018!
Every day, the number of smartphone owners and app developers is drastically growing. Many of them realize that mobile apps market is a real gold mine for money earning.
But how to get profit on free mobile apps? And how does it work?
Anyone who is looking for an additional source of income can get it. Schoolchildren, students, mothers on maternity leave, pensioners – really anyone! The benefit of this type of earnings is that you don’t need to be tied to one place – you can get money on a trip in a bus / subway / car, while waiting in the hospital queue and in many other situations. The main thing is to have access to the Internet and a smartphone.
Let’s review the most popular monetarization methods for free apps.
Most of the free apps greatly depend on this source of income to keep the position in the marketplace.
There are three main types of ad revenue:
- Cost per thousand view (CPM)
- Cost per click (CPC)
- Cost per action (CPA)
The following ad networks are quite popular InMobi, AdMobi, Google Ads, Conservant.
Ads blocking app
Many users are getting annoyed by constant advertising. So, they opt for an app blocking the ads. There free and paid apps to block the ads. The paid version allows to make profit based on downloads rather than the ads.
It is the hottest source of profit in the app industry. This category makes 47% of all the revenue in the app market around the world. In-app purchases can be used to sell a variety of content, including subscriptions, new features, and services.
What is an affiliate program? It is a simple relationship between two parties: an advertiser and a publisher. Most giant companies such as Google, Microsoft and Apple offer affiliate programs to app developers. The profit level here is quite modest but the app selection is huge. So, it’s always possible to choose the best paid apps. It is also recommended to look for businesses offering affiliate programs.
It is the newest entrant in the app business. Sponsorship is the partnership with advertisers who provide users with rewards for completing certain on-app actions. The app earns money by taking a share of the revenue from a redeemed reward. Cooperation with another app developer or business can be a great way to attract additional financing to your project. If you choose partnership with a ready business, they can promote your app to their customers, thus significantly increasing download rates.
Mobile marketing automation
Marketing automation helps to increase the effectiveness of mailings. Thanks to it, the average conversion reaches 57.67%
Some examples of conversions:
- Encouraging users to but a product or a service in an e-commerce app
- Offering users to book travel a flight, hotel, or activity in a travel app
- Informing users of new content, such as a fresh album in a music app
Integrate a few monetization methods
Mobile App Developers should not rely on a single method of app monetization. Nowadays, developers are adopting hybrid monetization strategies.
To get the best profit it is recommended to combine several monetization methods.
For example, game apps can be united with viewing video ads.
How to start app monetization today?
First of all, you need to develop a thoughtful app monetization strategy:
- set clear aims for monetizing your mobile app
- choose a model of mobile app monetization
- make an analysis of mobile app use, purchases, sign ups data
When your app is ready, feel free to message to firstname.lastname@example.org if you are an app developer or to email@example.com if you are an advertiser. We will make a quick review and start working together!
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