How to earn money from Android apps - HGX TECH

How to earn money from Android apps

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Do you have a strategy to monetize your app? People have made hundreds if not millions of dollars through mobile apps.

A few years ago, it would have been relatively more straightforward to build and launch a mobile app. Starting mobile app today is tricky. If you want to make money from your mobile app, it’s even harder.

There are about 3.8 million apps on Google Play Store and around 2 million apps on the Apple App Store.

The chances of your single app making millions of dollars in revenue are slim. Here’s how the big guys play it. They usually have a few apps in their portfolio making a hundred thousand dollars in revenue which leads them to make a million dollars combined.

If you want the apps to work for you and make money automatically, then you will need a few apps in your portfolio that make around $100k in revenue so that you can make a million dollars.

Let’s break it down even further:

First of all, as you know, you either have a free app or a paid app in the stores.

1. Paid
2. Free

Paid Mobile apps – You spend a certain amount to download the app.

Free Mobile Apps – You download the app for free, and they might have to pay for in-app purchases later aka the Freemium model. This model is more common and helps you get a higher number of downloads and sign-ups.

Now, let’s take a quick look at how apps make money and what are some of the strategies that you can follow to make money with your app.

Like any business, if you can sell a product or a service through your app, then that would be the primary source of revenue for your business/ app.

But not all apps sell services or products, but they can still make money. You ask how? By using app monetization strategies. Let’s take a look at these and how it can benefit your app business.

Advertisements

This is the most common way to make money through the apps. Leveraging third-party ad networks to display the ads in your app.

Here’s a breakdown of different types of ads that you can run depending on the use-case of your app:

Banner Ads:

Banner ads are the rectangular graphic display and are placed in the visible areas of the app like top, bottom or sides. The advertiser pays the host to display the ad on the app. This can be done in three ways: Cost Per Impression, Cost Per Click and Cost Per Action.

Video Ads:

This is another type of Online advertising and it did phenomenally well these days. Earning from the video ads are in many ways, commonly: PPV (Pay Per View) or CPC (Cost Per Click).

Interstitial Ads:

These ads are displayed between the activities or the pause between game levels. Interstitial ads cover the full screen of their host app

. Referral/ Niche-Promotion Marketing:

You can promote third-party brands and products and charge them to place their offer/ logo in your app or send out a push notification. You can also make a lot of money if you list other businesses and promote a specific activity to the top of the list.

Be sure to focus on the other aspects like solid mobile app marketing plan, clean design, well thought out user-experience among different strategies. These techniques might not work alone, but they have to be well crafted in your overall strategy. Your user-experience should nudge the users towards the monetized items in your app, and it should feel natural to the user. So dive in and leverage these techniques to your advantage. Mobile apps are already a hundred billion dollar marketplace, and the best is yet to come

THANKS