5 Ways To Maximise Revenue From A Free App

by Startacus Admin

How can you turn your app idea into a money-making venture? Here are 5 ways to maximise revenue from a free app.

Smartphone ownership is increasing steadily throughout the world. That means there’s never been a better time to earn money developing apps for iOS and Android. You simply have access to a larger potential customer base than ever before.

That said, you might wonder precisely how you would turn your app idea into a money-making venture. True, you could charge a download fee, but you might already know that the vast majority of apps are actually free. Convincing users to pay for your app when they have so many free options from which to choose can seem difficult. On the other hand, if you also offer your app for free, how can you monetize it?

This is an understandable concern. Luckily, there are in fact many ways free apps can make money. The following are simply among the more noteworthy:

Advertising

Many free apps generate revenue the same way free websites do. After all, popular websites that publish multiple pieces of new content every day can often still yield a profit despite not charging users any fee to view their content. This is because their popularity is great enough to attract advertisers.

Apps are no different. If you develop an app that offers genuine value to users, it may become so popular that advertisers will partner with you, placing banners and other marketing content in your app.

Freemium Models

Not all “free” apps allow users to access all their features at no cost. It’s not uncommon for free apps to offer premium features that users may access by paying either a one-time fee or a subscription fee.

Numerous apps also offer in-app purchases, which users can buy to enhance their experience. A common example would be a game app that allows users to buy points or resources that provide them with a competitive edge.

Referral and Affiliate Marketing

The referral and affiliate marketing strategy is another method you might consider if your app becomes popular. Quite simply, it involves naturally promoting other products within your own app. When your promotions yield purchases, you earn a percentage.

For example, maybe you’ve developed a free app that highlights digital coupons customers can use at eCommerce sites. Participating eCommerce retailers may be willing to offer you a percentage of what they earn when your customers use these coupons.

Promoting Related Products via Email

It’s possible that your app is not the only product you’re trying to market. You may already sell related products/services, or you may plan to do so in the future. 

If this is the case, your app can serve as a powerful marketing tool. When users open it, the app can request their email addresses. Those who sign up for your email list will then receive regular messages about your brand’s other products and services. You’ve simply turned your app users into a new customer base.

Of course, it’s also worth noting that you could simply develop an eCommerce app that exists specifically as a platform through which you may sell other branded items. However, you’re only likely to monetize your app in this capacity if yours is already a recognized brand with sufficient customers to sustain the business model.

Crowdfunding

Some monetization strategies serve to help you generate funds that you may use to initially develop and market your app. After all, it can’t make you money if people don’t know it exists. That’s why many use crowdfunding platforms such as Kickstarter and Indiegogo to attract investors during the early stages.

Keep in mind that app monetization trends are also always developing. These are merely a few of the more noteworthy ways free apps currently earn money. Consider these options if you have an app idea you believe can succeed, but continue to research this topic as new trends develop in the future.

Written by Alexa Marino, Glance Creative Ltd, www.thisisglance.com

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• #free app
• #business idea
• #monetise

Published on: 28th April 2020