First let us take a look at some of the top grossing apps like Clash of clans, HBO Now, Spotify music and much more like these. Are these apps are free to download? And the answer is YES. So how do these mobile apps manage to earn revenue, even so much that these apps mark their presence in the list of Top grossing apps? This question bothers a lot for new professionals in the market. Many apps charges money for download, but matter of the fact is majority of app users want apps to be free. Many professionals have observed that their free apps are making more money compared to paid apps. And they also get nearly 10x more downloads than paid apps. The earning from free apps depends on revenue model defined. There are many ways to earn money from free apps. We are listing some of them here, take a look.
In-app purchases
This is a popular way to earn money from free apps by offering users to purchase special features, next levels of the games, coins, supporting factors, special accesses etc. The amount of revenue depends on how much engaging or exciting the app is. So here, app owners should make users addicted to the app.
Physical purchases
Many owners offer free app download but via app they use to sell some products and services. These are mainly e-commerce apps which comes free of cost in most cases. So now in this case, your revenue graph depends upon how valuable and exciting your offered products and services are.
Subscription
It is very popular way to earn money through free apps by getting subscribed users for your app. In this case subscribed users gets special benefits like access to all or some features for a certain rate usually billed monthly or yearly.
Charging for upgrades
Many app owners keep base app at zero cost but they charge for higher version of app. This strategy mainly addicts users first and then they can’t stop themselves from buying updates. So your app should be engaging this time also.
Advertisement
This is probably most common and easiest way to earn money via free apps. This is normally works in the form of banner Ads via 3rd party ad network. It offers pretty much money and is most conventional way of money making through free apps.
CPI networks (cost per install)
This is a new money making technique via apps recently introduced in the market. You have often seen this as a “Pop-up” in games or apps prompting you to look at another app and install it now. It is conducted via third party like Playhaven and Chartboost. You will get specified amount of money for each app install through your app.
Sponsorship
Getting a sponsor for your free app is great way to earn some bucks. You just have to impress sponsor with your application idea, audience reach and proposed benefits for sponsor.
Email-Marketing
E-mail marketing is one of the most effective marketing techniques on internet and free mobile apps helps to gather email address of users interested in the products and services. Most of the free app owners are taking advantage of it and earning loads of money.
Concluding Note
There are many monetization strategies present in the market for free apps. You make sure your focus and refine your strategy to your goals, market and users. More strategy you will follow more sharp you revenue will be. But always keep track and monitor your data no matter whatever strategy you follow. Try new strategies, test them, work on it, focus to be effective and earn money.
Saran
September 15, 2020 Author