Revenue from mobile applications grow more than twice every year and apart from the paid apps theres a strong evidence that shows that free Android app owners are also making money out of their app. On a overall basis 89% of the income generated from an Android app comes only from free applications. If you have already had the thoughtful idea for your application then its time to see how you will monetize your product. If you want to make money with your Android apps then you must have a creative idea. Its fine if you arent a coder because you can get the app done from a good reputed Android company. There are few thing which you must consider before releasing your Application to the play store. Also read : How to start a successful blog that cane earn you for lifetime.
- Does your app already exists in the market? If so, how it differs from them?
- Does your app has potential to be used with wider audience ?
- Will the app be fun or something useful to the smartphone users?
If your answers are Yes to the above three questions then proceed further to know how can we monetize the Android apps so that it could generate thousand of dollars per day.
4 Ways Monetizing Android Apps to Make Money
Im going to list out the major resources for monetizing your Android application but, Do not use all the methods below because it doesnt provide a good user experience. Remember, If youre an Android user would you be liked to get dumped with a bunch on Ads?
1. Make a “Freemium” Android App
The Freemium model is the most successful model that can generate much larger amounts of revenue from ads from your free Android application. However, its more difficult to implement it. Freemium apps are free apps that offer additional services or benefits in exchange for a surcharge . This category is generating more income in the various app stores:
- iOS 69%
- Android 75%
The success of this model is that users are more likely to spend money on the application once the user likes the app after using it for free. But the risk of this model is especially in gaming. If we make a free application to play but impossible to finish without paying then it may cause frustration for the users. So the key to this model lies in generating attractive purchases .
The Freemium model is recommended for high volume apps downloads such as the case of Dropbox, Spotify and Farmville etc.
2. Advertisements – Best way to Earn from Android Apps
Advertisements are always the best way to make money online and especially if you have a good app which is downloaded by millions of people all over the world then assume the CTR(Click Through Rate) which that app would be getting from the smartphone users. There are several kinds of Ads which can be used with the Android app and Im listing out few of them here:
The Ad which will cover the entire screen while using the application and this could be shown at any point of time while the user is accessing the app, This one is so annoying to the user but still it could generate good income to the developer. Tapgage.com is one such site where you can sign-up to request a full size ads.
Banner ads are served on a mobile app which is connected online and basically this Ad can be displayed above or below the display of the screen. Banner ads are far better to the Interstitial ads based on the user experiences. More than 70% of the smartphone users feels in-app Ads are disruptive. Inmobi.com and Admob.com are the best Ad networking sites.
When the user is not using the application the ad will be sent to the notification tray of the user. this is more common with games in Android. This is one good way to monetize your app and Airpush.com is a good Push notification Ad network.
3. Sponsors for your Android application
Developing a viral Ad will lead to a sponsored Ad where one of the advertising sitting in front oh his desk would approach you after seeing your app getting viral on the play store. If you are getting millions of download then the number of sponsors would increase for approaching you to make a Ad deal with them. Other than that if youre making an App which will be relevant to some product then you can directly approach them for providing sponsors.
The next option to consider is to charge a monthly or annual subscription for the services offered by our app. Yet this is too green. We dont know any of the applications that uses this system, so today it would better manage subscriptions externally through the Web and offer Android App for free. These are the most obvious choices, but surely others will be at least those who can make a difference and make you really make a living from this.
If youre going to have a newspaper or magazine portal kind of Android apps then you can make use of this subscriptions system to monetize the app.
Bonus Websites to Monetize your App.
Everyone who wants to live life with application development should optimize the Ads well and for this we must engage with the users who are using your application and ask them for suggestions and points to improve your app performance. To do this, the key is that our application must be attractive and original. Without that we have nothing, but despite that we might fail if the system is chosen wrongly for monetizing.