Have you ever pondered how the free mobile applications make business?? Mobile developers might doubt often when making the investment into developing free applications.
But, any mobile application development journey entails quite a lump sum amount of funds along with a proper investment of time and skills.Since free mobile apps draw maximum users, they can be a viable option for making a long-term investment. Yet a clear understanding of the policies and methods is essential before kicking off the development process.
So, here presenting to you few tips to profit from free mobile applications:
Package your application carefully else your work is likely to sink amidst trillion of others lying in the app stores.
• March 2017 records 2.8 million apps of all types of Google Play store.
• 2.2 million Apps recorded in Apple Appstore.
Make sure the application released with proper packaging to make it visible to others of its kind.
Catchy name and informative description with self-descriptive snaps and videos are equally important besides designing an attractive package for the application to pull users in large numbers else the in-built monetizing strategies will fail to generate revenue.
Once potential users board your application, Monetizing Strategies start working to print money for you. HOW??
In-app purchase is the most common monetizing strategy used by most applications to allow users purchase content within the same app. There are types of in-app purchase:
• There are Consumable products meant for one-time usage. Example: Virtual Money.
• There are Non-consumable products meant for permanent usage. Example: Ad blocking, an add-on feature).
• Renewable or non-renewable Subscriptions unlock features for the temporary period.
In-app ads are nothing but tools for affiliate marketing and they work through different channels:
• Cost per Click or CPC where the owner of the application paid for each ad click displayed in the application itself.
• Cost per View or CPV is applicable only for video advertisements. The owner of the app is paid the number of times, the users view the video ad on the app.
• Cost per Install or CPI is applicable for third-party app installations. The application owner is paid whenever a visitor installs the affiliated advertised application is installed.
Hire best app-monetization tools:
Freemium model of app monetization entails developing two identical versions of the same app. One is a free version and the other is the advanced but a paid one. Example: If a user enjoying access to free applications greeted with, a message to upgrade the application to the paid version in order to continue enjoy the other features.
• MX Player is the free application.
• MX Player Pro is the paid version.
Sponsorships are ads, which bear relevance to the host application content. Post mobile app creation, a contract shared with a sponsor company where designs updated to match the sponsor’s brand. The profit either split or draw monthly sponsorship fee.
Subscriptions are becoming the common modes of drawing funds from users where a part of it offered free of cost and then subscribed to access the important part. Example: Netflix
Crowdfunding is one of the current app monetization tools where the app owner has to release the idea on specific platforms to gain donations or funds for the further development and brand promotion of the application without spending a penny from the owner’s pocket.
So, we got a lesson today, i.e. …NOTHING comes FREE of COST. Free applications are not exactly free. There is an understatement….Keep not of that.
The massive way, with which the global mobile market is expanding, we are likely to witness a future where even our most basic purpose will be catered to by smartphone application. With technologies like Augmented and Virtual Reality, Artificial Intelligence, Machine Learning, IoT and others, the world is gradually stepping towards a better tomorrow dominated by top-rated mobile application development companies carving a digital future for human beings.
Statistical evidence also highlights the irreplaceable influence of mobile apps on the world economy.
According to App Annie:
The year 2020 will witness exceeding gross revenue of over $101 billion from mobile applications across all app stores.
Out of $101 billion, a figure double of $51 billion will be contributed by free mobile apps alone.
China will dominate the market over the US in terms of revenue generation from app stores globally.
Emerging markets like India, Indonesia, Brazil, Argentina, and Turkey will expand their base into the digital world of smartphone applications through the year 2020.
Mature markets like those of few others, and the US, China will continue maintaining their expansion throughout.
And, these figures include the free mobile applications as well. YES!! YOU HEARD IT RIGHT…THEY MAKE MONEY TOOO…
Category: Mobile App DevelopersCompany about: Fluper Ltd. is an authentic, certified and top rated mobile application design and development company with engineers expertising in native application development, customized applications provisioning end-end 360degree mobile app solutions. We have specilized in Android, iOS, iPad, Tablets and Wearable App Development Services. We have been working in the IT Mobile App Domain and Verticals since 2013 providing following services: #Enterprise Applications: Business, Banking, Finance, Human Reso ...
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