How to Make Money From a Mobile Application?

Do you have a mobile application? If yes, chances are that you have spent a lot of time, money, and energy on mobile apps development services and now you want the output. Maybe, the number of downloads is increasing but there is not significant cash-flow.

You might have also started questioning your decision to invest a lot in mobile app development services. Well, don’t worry! Because the web and mobile apps development services provider can make a lot of money and that’s exactly what we are going to talk about in our blog.

In this blog, we are going to talk about both free apps and paid apps. Let’s check out each of ‘em.

How to Make Money From Mobile App?

1- In-App Purchases

Mobile app development services can use In-App Purchases to get the most money out of free apps. Used by a number of apps, the App Store and Google App store enables the users to make purchases right inside the app.

In-App Purchases can be divided into three categories:

a. Consumable

As the name suggests, these are the apps that users can consume after they purchase. To continue getting benefits from it, you buy them again. For instance, some games offer users to buy additional coins for sale. In such a scenario, users pay a certain amount of money to buy those coines are extra features. Once they have used the coins, they have to spend more to buy more coins and that’s one way the best mobile app development services can earn money.

b. Non-Consumable

While non-consumable are those apps that will stay with you forever, once you have bought them. For instance, photo editing apps have 5 filters, but its premium version offers more than 20 filters and these premium filters are much better than the basic filters. Mobile app development services providers design app in a way that users can upgrade the apps in order to use the premium filters and that’s another way to make money out mobile app development services.

c. Subscriptions

Another best monetization way that is gaining a lot of popularity these days because paying each month sounds better than paying all at once.

The concept of subscriptions is straightforward: mobile app development services providers ask the user to pay a certain amount of money each month or years. Often such type of model also offers a free trial which gives users a chance to get hooked onto the benefits. And once they like it, they have to pay mobile apps development services provider to continue experiencing the benefits.

Many famous apps such a Netflix, Spotify, and others offered this model to users and it was quite successful. Today, almost all the new apps are offering their users an option to enjoy a free trial and if they want to continue enjoying the benefits, they have to get the subscription.

2- Ads & Sponsorships

The latest mobile app development services can make a lot of money through ads and sponsors, but they need to have a good number of users that are equal to the target audience of another agency. The amount of money that you earn from ads & sponsors depend on what your strategy is and how well-defined your audience is.