By 2024, the global revenue from apps is expected to reach a whopping 950 billion dollars. This is an exciting statistic for every business owner who is considering venturing into app development. Another shocking statistic is that 98% of revenue from apps and games come from apps that are free to download. This means, making money with your app will take some creativity and planning. Fortunately, by using a few methods you can build a profitable premium app.
If you are an entrepreneur who is wondering how to make money off an app this guide is for you.
Reward Videos
A reward video is a short clip a user watches to earn certain rewards to use in the app. These are best used for various types of gaming apps. The videos are advertisements and you are paid per impression, click, or install.
After having your app developed from a quality development company, one of the best ways to monetize your app is through reward videos.
In-App Purchases
A great tip for how to make money off creating an app is to include in-app purchases. These purchases make using the app easier or more interesting. Examples of in-app purchases are credits for a game, shortcuts for a brain teaser, or accessories for a character you are playing. In-App purchases are a great way to make money from apps consistently.
Premium Version
If you are wondering how to make money off an iPhone app, consider offering a premium version of your free app. The paid version will unlock certain features or additional content. You can use a free trial to pique your user’s interest in your premium content.
Partnerships
An ideal tip for how to make money off an android app is to offer partnerships. The best partner is one who has a similar customer base and can add offer something of value to your users. Working with a partner can be a mutually beneficial way to raise brand awareness and visibility.
Affiliate Marketing
If you want to profit from an app, consider using affiliate marketing. With this type of marketing, you are promoting products and receiving a commission for every sale. Affiliate marketing is a good way to make money from your app with several different companies.
Selling Merchandise
Depending on the type of app you create, you can make money by selling physical merchandise. T-shirts, mugs, toys, keychains, and other products can be sold directly to users from your app. You can do this by fulfilling the orders yourself or by using a dropshipping company.
This Is How to Make Money Off an App
By using these methods for how to make money off an app, you can start a profitable app development business. Make money from your app with reward videos, in-app purchases, sponsorships, and affiliate marketing. You can also sell merchandise, use referral marketing, or offer a premium version. Whatever method you choose, creating a profitable business with app development is possible.
Don’t forget to browse our site for more advice on running a profitable business. Visit the Startups and Tech sections of the Bootstrap Business to learn more tactics for making money off mobile application development and app marketing.
