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How To Earn Money With An App

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Earn Money from Mobile App
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Over the past few years, we have seen substantial growth in the mobile market, smart phones have become an essential part of our day to day lives. Gone are the days, when making money from apps was questionable but is now considered to earn some bucks.

As of now, every smart phone user is aware of several apps to explore and research on. A few of them may charge their customers while some may not. Although there is no rule book for an app to perform well in the market, cross-platform mobile development will fetch you more profits for app developers.

Mobile apps are not lagging behind when it comes to earning money. Here are some of the prioritized key points for your app to bring in some profits


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In-App Ads

 One of the most effective and easiest way to earn from an app is to feature advertisements on your app. When you own an app all the views, clicks, nature of the ads will generate revenue.

As video ads will fetch you more when compared to banner ads, Interstitial ads may get you more money as they will pop up anytime in between and occupies the whole screen. You must ensure that it is kept short and informative.

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Paid Apps

While some apps keep a pricing tag for downloads. It does make sense as they have spent a lot of time and effort to build an app they wouldn’t want to keep it for free.

But there are side-effects for this as many people are used to free versions they would think twice before spending on app downloads. The downloads count may be less for the paid versions.

Sponsors

Connect to sponsors that are targeting a similar audience as they will more interested in your app to reach their customers. Through this approach, you and your sponsor both will benefit.

As an app owner, you will gain from your sponsors brand popularity and web traffic. This strategy is more likely available for the apps that already have users.

In-App Upgrades

Majority of free version based apps attract users by offering premium level products like app-based merchandise, advance level upgrades, virtual stuff etc. As a user gets addicted to an app they wishfully spend money without any hesitation.

This kind of revenue generating strategies is growing day after day and will be seen more in further days to come.

Subscriptions

Although it is not a very appealing strategy to introduce a paid version of apps, at the start you can launch your app on a free trial version for a certain period of time and can charge it from later. As the users will be addicted to your app they would want to pay you the subscription charges for further usage.

For this to be successful it must offer unique features, where no other app can give if not so customers may find some other alternative free version to replace it.

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Conclusion

If your app is successful,  automatically the companies will pay you tons to advertise  their products. Creating apps that are compatible with multiple mobile operating systems like cross-platform mobile development results in significant cost reduction and growth in app revenue.

Don’t overdo on things as by concentrating more on making money from other sources, you may make your users feel bored which in turn may affect your overall app performance.

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Paschal Okafor is NaijaTechGuide Team Lead. The article How To Earn Money With An App was written by NaijaTechGuide Team. The article was last modified: May 13th, 2019

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