How Do Free Apps Monetize

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Are you trying to monetize money by developing free apps? The simple thought of making money by publishing your apps on a store isn’t enough when it comes to making a living out of it. After all, there has to be something more than just creating an app. And there actually are many ways you can do this because no matter how good your app is, and what monetization methods you use, you may still fail to attract people in downloading your app because of various reasons. This article talks about all the right things you should be doing to make your mobile app visible and earn enough to keep you afloat for a lifetime.

Choose a name, it has to be catchy!

A name that reflects your app’s major functions should be the name of your app. Choosing a name that leaves a hint of what your app might be about will intrigue people and at the same time, you will also not be deviating from its major functions. Always keep in mind that the name of your app should not be more than 100 characters so that as soon as they catch the attention of the people, they end up downloading your app.

Informative App description

All your app’s description section requires is a culmination of meaningful and informative words. The first few lines should give a general information and illustrate the app’s main idea. Keep it short and simple since very few people read further if the content isn’t crisp enough.

Use impressive screenshots

Name and description do play an important role but so does the visuals you are putting up below the description. A visual representation of what people have just read about your app is a confirmation of the fact that your app is definitely worth downloading. So add screenshots that describe a few functions of your app.

Now that you are making people grab attention towards your app, it is time to make strategies so that you can earn money. Here are a few strategies to start with:

Strategy 1 – In-app purchases

In-app purchases are the things that users buy within the app and is an extremely popular strategy used by thousands of apps. There are mainly three types of in-app purchases; consumable (products that a user can use only once, mainly used for game apps), non-consumable (features that a user buys for permanent use like for blocking ads) and subscriptions (unlock some function for a certain period of time for user’s access) that you can include in your own app.

Strategy 2 – In-app ads

Ads are everywhere you go and mobile apps are no exception to this. Ads are a part of affiliate marketing with which you advertise affiliates like apps and games inside your own app, and if the user interacts with that ad, you earn some money from that interaction. Cost per click (CPC), cost per view (CPV) and cost per install (CPI) are a few campaigns used inside affiliate marketing.

Strategy 3 – Freemium

In order to use freemium monetization strategy, you need to have a second app which is a paid version of your application. And if people find your free app useful, only then do they go ahead with the paid version. With the freemium version, upgrade to the original app’s paid version is offered to the users and if they agree to that, they are taken to the app store. This option is quite efficient but keep in mind to not include too many functions in the free version itself because otherwise, people won’t invest in the paid version of your app.

Strategy 4 – Sponsorship

You create an app which attracts quite an audience, after which you contact a sponsor company and offer to update the design of your app to match the sponsor’s brand. Mainly there are two types of sponsorship deals, one where you can split the revenue with your sponsor, second where you receive a monthly sponsorship fee.

Strategy 5 – Email Marketing

This type of strategy has always worked and will still remain relevant for the years to come. You can ask the users of your mobile app to provide their email ids and later on, you can send them messages. Also, don’t forget to offer them the option of cancelling on the email notifications.

One might wonder that why to go at such lengths just for apps, but going through the user’s pattern of using apps at an ever-increasing rate, mobile app industry is the future. And with phone brands like Panasonic India smartphones, Xiaomi and Oppo who have an amazing collection of phones with outstanding processors, long-lasting batteries, large memory storage and what not, there is no chance that investing in mobile apps will be a bad idea.

Now that you know how free apps make money, if you have an idea in your mind that can turn into a potential app, then you should definitely give it a try.

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