Most Android and iOS apps are free in use, so many novice developers are worried about the fact of whether they would have an opportunity to have a monetization of their applications.
And in this article, we will take a closer look at the question of free apps monetization, and see, which ways are the most suitable for it.
What you should know from the beginning of your work
Before you start your work with monetization, you have to know, who is your target audience, and who your competitors are. To create beneficial conditions of work for yourself, you have to see, which services would be great for selling.
#1. Purchases in the application
The majority of high-quality applications provide their users with in-app goods, which would be important for comfortable work. Many people, playing different games, saw an opportunity to buy an additional life, in order to continue their gaming session.
There are three major types of in-game microtransactions:
- Subscriptions. Buying different battle-passes, or VIP subscriptions, which would include different bonuses, such as removal of ads.
- Consumable microtransactions. They include buying additional content, which would disappear after using it. Additional gaming time, or the internal currency.
- Permanent upgrades. These purchases would be the long-lasting ones, and they will grant you different paid characters in games. Removal of ads is also usually permanent.
#2. Advertising
Using pieces of an advertisement in your application would also be beneficial. And you will be able to offer “no-ads” purchases, so the average user would be able to remove all the advertisements.
There are 3 types of ads:
- Banners would be great for users, because they are usually located at the bottom of your app, and people are still able to use them. However, there will be fewer clicks on it.
- Interstitial ads are the most common nowadays, and they are just popping up if a user finishes the level, or wants to get some reward for the ad.
- Native pieces of advertisement are the minority. This way, the advertisement is being implemented in the app itself (mentioning some brands, movies, etc.).
#3. Creating referral links for users
By creating a bond with some other app, you will be able to create a referral system, which would provide you money for the installed the other app.
Nowadays, there are 3 types of referral publishers, which include:
- Cost per install. This way, you will get your money for every user who installed the application.
- Cost per click would give you money for people clicking on the ads in your application.
- Cost per view would provide you with the profit for the number of ads you show to your users. This is the most common type of advertisement in applications nowadays.
#4. Subscriptions
The subscription system is really common for the majority of developers. You will be able to create comfortable conditions for using your app for free. But adding different interesting features would encourage people to buy some VIP subscriptions.
This way, you will not only make money selling content but also extend the session of using an app by an average user.
#5. Selling a full version
Selling the full version of an app is not the common practice now This way, you have to create a demo version of an app, which would provide users with all the features the full version contains, making them wish to have the full.
Different applications with storytelling, or interesting gameplay, would be perfect for the implementation of this way of monetization.
The conclusion
The conclusion about monetization is simple. It is not as hard as many people think. The easiest way is to add advertisements to your application. This way, the profit would not be that great, but it is the most common way of monetization.
However, the creation of a high-quality app will open you an opportunity to provide different internal purchases and subscriptions selling, which would maximize your profit.
