If you think smart devices like digital watches, smart home speakers, and smart TVs make sense then try building your upcoming apps by considering these aspects.
The mobile app industry has a lot to earn. The statement is not only for developers but also for the app owners who are hoping to make money through apps.
Basically, the mobile market is a goldfish offering excellent money-making opportunities. With the same thought, we have come up with the most burgeoning question “how to make money from apps” with relevant facts and figures.
If you own an existing app it’s great, but if you’re thinking to develop a new one just because your existing app isn’t not making money, it’s not too late to make adjustments to correct the same.
We at MobileAppDaily conducted in-depth research to bring the true facts about how much money do apps make. Following the below-described strategies to get meaningful insights into each fact.
If you’re one of those who already own an app or planning to build one for business promotion, it would be great to take the assistance of a reliable mobile app development company. They are the masters and will let you know what types of apps are actually good and the best to invest in.
They’ll also let you know the best app type and on-boarding the best app monetization strategies that help you make money from apps? If you know how to monetize an app, it would greatly help you get the most out of your mobile app.
The mobile app market has become a big business these days!
The global mobile app revenue is predicted to reach about $188.9 billion by the end of 2020 which is clearly a 200% rise from the stats gathered for 2016.
Coming to the point of highlighting the apps category gaining the utmost popularity and revenue. High power gaming apps can be the best ones that top the list.
Be it a child or a youth, everyone has a passion to play games to polish their presence of mind. It is true that gaming apps dominate the entire mobile app industry and marked a niche in the list of top-grossing apps.
This is how gaming apps can make ways for how much money can you make off an app.
Online free dating apps are making the utmost money every minute by appealing users with impressive layouts and interesting feature kit.
Tinder is a top-grossing online dating app that is appeasing millions of global users by unleashing a variety of dating opportunities. The app has a variety of features among them a few are free and the other can only be accessed when users purchase them through in-app purchases.
You must have heard about Tinder, an online dating app. Though the app is free to download, it charges money from individuals by exciting them with additional features like unlimited swipes. This lets the users stay for long over there with the striking swipe feature.
This can be the biggest and the best example you can consider as the subscription-based app.
Tinder charges $9.99 per month for a Plus subscription and $14.99 for the Tinder Gold upgrade. And provides -
Bumble is a widely-loved location-based dating and social dating app that encourages communication between interested users. Basically, it is known as a feminist dating app where only female users are allowed to initiate the conversation with a match.
The app also possesses options for those who are not interested in hook-ups and serious dating. With relevant options, they can find valuable relationships and making friends that are not intended for dating.
Bumble initiated a subscription Bumble Boost plan of $24.99/month which has come up with features like -
Integrating apps with chargeable features is the best strategy that helps an app earn great revenue in the long run. Do follow this technique, if you want to make maximum money from your app.
Today, applications aren’t only meant to be installed on mobile devices. There are smart TVs, digital watches, smart speakers, and smart home devices that are offering wide scope to the applications to be utilized.
If you think that smart devices like digital watches, smart home speakers and smart TVs make sense then try implementing these aspects in your upcoming apps. This would not only advance the user engagement style but also expand the reach of your app among users.
Don’t forget to integrate such features if you really want to make money through apps.
App development is the major factor which affects an app revenue a lot. No matter you are developing an app for Android or Apple OS, you have to be concerned about the platform you’re choosing for app development. The best and suitable platform you choose the maximum accuracy you get for your app features.
Start developing your mobile app by keeping the market penetration and platform popularity in mind. Decide what platform you need to get your app developed. This greatly affects the app quality and ultimately the app revenue.
Best platform selection can assist both app developers and owners about how apps make money. Today, app developers are in huge demand. They are admired for their skills and the appropriate functionality integration they are offering to the proposed mobile app.
Generally, there are two major platforms one can develop an app with i.e., Android and iOS. Android is on the boom and leading the app development market with a standard salary of $97.6K for skilled developers. iOS app development is also not lacking behind as it facilitates developers with an average gross salary of $96.6K.
Both app platforms are powerful and account for a wider audience that appreciates and uses apps based on them.
Take a glance at how you can earn money from apps based on Android and iOS platforms. Now, it’s up to you how you can build an app that can quickly grab users attention and get you maximum clicks and downloads. Be cautious at whatever you armobie developing with money-making intention.
It is studied that iOS users find it easier to make online purchases than Android users. To prove it take a glimpse at the below graphical image.
According to a recent study, iOS earned optimum eCommerce users that counted around 47% whereas Android lacked behind by only accounting 38% of online shoppers. This stat also sets the example of iOS triumph over Android.
But, it doesn’t mean that the Android platform is not worth considering for making money from apps. It is a preferred platform for developers and users that will again make your doubts clear on how much do app make by opting it.
By knowing about the platform vitality in app development, it must have been clear in your mind that you can effortlessly make money off an app by using the appropriate OS platform for your app.
Now when you are aware of the type of apps and the best platforms to build an app with to generate greater revenue, it’s time to move on to the real question of how much do apps make and how does it effectively takes place.
To know how much money can you make from an app, you need to work on a few areas.
Most of the apps are free over app stores. But, it doesn’t mean that they aren’t making money. Basically, the real revenue generates from in-app purchases give mobile app owners the exact reason to earn money from apps.
In the previous year, the global revenue from in-app purchases was estimated at around $71.3 billion. There’s a detailed report behind this theory which states that 98% of app revenue has purely generated from free apps liable for offering in-app purchases options. If you’re still in doubt that how much can you make from an app, this technique will get you the exact insights of your app revenue.
In-app purchases are responsible for accounting 48.2% of mobile app earnings which is higher in comparison to ads-based and paid app downloads revenue.
Q.2 Have you tied up with any brand or company to integrate their Ads in your app?
Affiliate marketing is another name of In-app Advertising which is considered as a sure-shot tactic which lets app owners know that how much can you make from an app.
Suppose you're an app owner and have tied up with a company on a Click Per View Agreement. Here, you must have decided to charge a fixed amount (let say $0.01) from the tied up company. So, now if you succeed to divert 10,000 daily users to your app which further takes them to the featured ad, you’ll still earn great revenue from this tactic.
A study made by visionMobile states that all the subscription-based apps are likely to earn 2-3 times more than other based-on advertising or pay-to-download models.
When it comes to choosing between native and hybrid mobile app, you most probably will choose hybrid as you want to provide mobile users an exceptional regardless of what mobile devices they are putting on.
If your app is fixated for mobile, there are chances that your app earn a lot. Now the question that how much money can an app make, especially when it is meant for a variety of mobile screens, the answer is “more than a static or non-mobile app”.
There are so many ways apart from app stores where your app can make the utmost money for your business. You must be thinking that what are the ways that can help your earn money in an effective manner. Here are these:
Gaming apps are the absolute models where you can make a lot of money by integrating in-app purchase technique. Here, you can attach money to an item that you think the users will likely to purchase to get into the next level. Undoubtedly, gaming app developers have been making money through mobile apps by rendering special features and add-ons.
It’s a process where you allow other brand to disp;lay their ads through your application. For this, you charge from them on the basis of per click impression or pay per click. This is the proven strategy you can utilize to earn a lot of money through your mobile app. Going deep into it will let you know the exact insights about how much money apps make during this process.
As you can see, initially most of the apps are free to download but when you reach the end level of free version, the app started pushing notifications to switch to a premium version to unlock the best features. There can’t be another strategy better than this as when users started liking any app they are even ready to unlock the paid features of it.
Freemium model is best when you want to know how much money can an app make by offering them exciting paid features. Go for it to get excellent app monetization results.
However, this is the least witnessed model of app monetization. Here, you have to first find a brand having a mobile app similar to yours targeting the same audience bas. You then approach them with a proposal of app redesigning so that you and the brand would be able to increase the customer-base. Just think of implementing if you really want to know the facts explaining how much can an app make.
It seems quite impressive to hear that you can make money from apps in a short time span. Let’s discover how correct the statement is:
First, let’s wipe out the misconception that ‘free applications can not generate any revenue’. There are several leading app monetization techniques that can be used by mobile app marketers to make money from apps, especially with free apps.
There is undoubtedly a lot of mobile app monetization strategies to be implemented to make money through apps. You can earn money from apps providing you’ve considered the right approach and guidelines.
As you can observe the article has a lot of important factors to be kept in mind while developing an app. It is said that a tree will only give you fruits if you nurture it in absolute ways. Similarly, an app will provide you the best rate of return if and only if you develop it with keen precision and also by integrating all the modern-day mobile demands.
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Twinkle is an experienced business and marketing consultant of the mobile app industry. She advocates perfect branding to the latest tech releases. She is passionate about writing well-researched reports to help the app owners and the mobile app industry audience. Also, she has a vibrant touch that goes well in her writing as well.