Mobile apps are essential for any business, not only for smooth business operations and functionality but rather as a separate revenue generation channel. The free app market has always outnumbered the paid app market, but have you ever considered how free apps will make money in 2022?
Let us unravel this mystery and discover the most promising ways for a free app to make money. In most cases, some apps use more than one method to generate revenue. The income from these apps could not only be a passive source of income for you, but it could also become your biggest hit. Here are some of the app monetization methods that can assist you in gaining monetary benefits from your free app.
This is most likely the simplest and most popular way to monetize your app. Once you've finished developing your app and are ready to publish it, you can choose whether or not to allow advertisements to appear on it. As the app owner, you are paid based on the number of impressions or clicks their ads receive, as well as the type of ads you provide.
This strategy is based on the freemium model, in which you provide users with access to your app for free but with limited features. After purchasing app upgrades, users can unlock additional premium features, advanced levels, or access to privileged content to allow much swifter and empowered user interaction.
Additionally, in this model, an app can provide any additional bonus, virtual currency, or coins for the game, as well as any free premium content or unlock any extra level.
A mobile affiliate network is essentially a mobile platform that connects mobile advertisers and affiliates. While mobile advertisers may be the owners of mobile apps or businesses that sell products or services via mobile web, affiliates carry out performance-based advertising for the advertisers. Joining a mobile affiliate network allows you to earn money by advertising relevant apps, products, or services offered by your affiliates.
This revenue can be in the form of a cost per action, in which you earn money every time someone clicks on their ad, installs their app, or performs any other (desired) action.
The second type is the revenue sharing model, in which you would receive a percentage of the revenue generated for the advertiser.
The subscription model is very simple. Initially, your app would be "free" to users, allowing them to access the content to a limited extent without incurring any charges. Later, when the user gets involved in your app and discovers that it offers value to them, they can upgrade to a paid subscription where you can provide unlimited access to the app's content.
The other way is to provide users with a free trial period during which they can enjoy unlimited access to your app's content for a set period of time. After the trial period expires, you can block users and ask them to purchase a subscription in order to be unblocked and gain access to the valuable app content at any time and from any location.
Referral marketing is the practice of promoting a third-party product or service in order to maximize revenue opportunities.
Based on the number of clicks or installs, app publishers can promote or sell affiliates' products or services. Publishers use various types of referral marketing models in their development:
There is no 'correct' method here; however, different methods may be appropriate for different situations. The goal here should be to research and explore all possible methods, and perhaps even try some of them out in person, before deciding which path to take. Once you've created an app, you can sign up for any of these platforms, and your app revenue will soar!