Mobile apps have become a staple for any business these days and if you own a business, you would want to know how to earn from apps? Here is an in-depth answer.
The mobile app industry is full of opportunities to accelerate your earning from apps. The statement is not only for developers but also for the app owners who are hoping to find answers to the question of how to earn from apps?.
The mobile market is a goldfish offering excellent money-making opportunities. With the same thought, we have come up with the most burgeoning questions “how apps make money” and how much can you earn from an app with relevant facts and figures.
If you own an existing app it’s great, but if you’re thinking of developing a new one just because your existing app doesn’t perform as other successful money making apps, it’s not too late to make adjustments to correct the same.
We at MobileAppDaily conducted in-depth research to bring the facts about how apps earn money and how much can you make from an app. 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 experts and will let you know what types of apps are 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 will tell you ways to monetize apps. If you know how to generate income from 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 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 with higher earning from apps.
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 mark a niche in the list of top-grossing apps. Reports gathered as of April 2018, Epic Games’ Fortnite earned about $1.9 million daily, Candy Crush Saga secured the second position in the list with a drastic revenue of $1.3 million and Pokemon Go has filled the pocket with around $800 million in 2018. This is how gaming apps can make ways for how much money you can make off an app.
Online free dating apps are making the utmost money every minute by appealing to users with impressive layouts and interesting feature kits. When you will look deep into how much does an app earn? you will find dating apps at the top of the list. Tinder and Bumble are top-grossing online dating apps that are appeasing millions of global users by unleashing a variety of dating opportunities. These apps have 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.
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 want to make money through apps.
App development is the major factor which affects an app revenue a lot. No matter if 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 more suitable platform you choose, the maximum accuracy you get for your app features. When answering how to monetize apps, platforms play a significant role in it.
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 to monetize apps and how much money can you make off an app 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 are developing with money-making intentions.
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 apps make by opting for 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 effectively it takes place.
To know how much money you can 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. The real revenue generated from in-app purchases gives with vision 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 about how much you can 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 the earning from mobile apps which are higher in comparison to ads-based and paid app downloads revenue.
Affiliate marketing is another name of In-app Advertising which is considered as a sure-shot tactic which lets app owners know how much you can 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. Employing the best app marketing agencies results in reaching out to a newer audience and increasing the app’s revenue.
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 apps, you most probably will choose hybrid as you want to provide mobile users with an exceptional regardless of what mobile devices they are putting on.
If your app is fixed for mobile, there are chances that your app earns a lot. Now the question is 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 about what are the ways that can help you effectively earn money. Here is the answer to how apps earn money:
Gaming apps are the absolute models where you can make a lot of money by integrating in-app purchase techniques. 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.
Monetize app with ads is a process where you allow other brands to display their ads through your application. For this, you charge from them based on 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 an app earns with this method and also how free apps make money.
As you can see, initially most of the apps are free to download but when you reach the end level of the free version, the app starts 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 start 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 an app can 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 base. You then approach them with a proposal of app redesigning so that you and the brand would be able to increase the customer base. It's a perfect example of how do apps make money without ads. Just think of implementing it if you want to know the facts explaining how much an app can make.
It seems quite impressive to hear that you can make money from apps in a short period. Let’s discover how true this statement is for popular app monetization models:
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.
After understanding how apps make money, here we will share what the future of the mobile app industry looks like. The mobile app industry is growing to be the biggest bet for investors in the world of technology. The industries rapidly rising with no signs of slowing down in 2021 as well. Gaming apps have been making money and the pattern will follow in the future as well. Same goes for mobile apps based on Artificial intelligence, utilising chatbots, augmented reality and virtual reality. These technologies are just getting better with time and more likely will dominate the technology world in general, in coming days. Mobile applications are more than relevant in the future with service getting better and offering more utility to the consumer. Players should follow the insights to make the best out of this opportunity.
There are undoubtedly a lot of mobile app monetization strategies to be implemented to make money through apps. You can earn money from apps and figure out how much can you make off an app? provided 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 with 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.
Browse MobileAppdaily if you’re eager to know more about mobile apps and related tech news.
With a mixture of literature, cinema, and photography, Manish is mostly traveling. When he is not, he is probably writing another tech news for you!
Cut to the
chase content that’s credible, insightful & actionable.
Get the latest mashup of the App Industry Exclusively Inboxed