Almost every renowned business has already launched their own mobile application and thus they now have an additional way of income. Your app has to be highly ranked as well as be popular to increase your income. Both in-app purchases and ad revenues make up the income generated through this sector. Here are a few ways to make money with your app on Google Play Store or Apple App Store:
- Sell your paid app
Creating a payware app and selling it will be the most common anddirect way of making money from the app market. Your app has to provide service to masses that is unique and better than any alternatives already in the market. Your paid app also needs to have special features so that the users are ready to pay for it over the alternative free apps.
- Earn from in-app purchases
You can add in-app purchases in different formsin your free app games. Users and gamers usually are ready to pay for the new characters, better facilities, character outfits or game cash. Using such methods, you can publish your app in the market and earn from it as well.
- Make advertisements
In-app ads are present in around 49% of mobile apps, as per an independent survey. It is true that ad revenue is much less than that of in-app purchases, but using ads will add at least one more alternative to earn from your apps. However, their use should be in controlled limits only or they will create a negative user experience.
- Make money from the sponsorship deals
Many developers make sponsorships deals with sponsors that agree to pay for the app during its development and marketing phases. You can easily follow this method. A substantial revenue can be generated when you have one or more sponsors to cover-up the cost from the development of the app to its market and publishing in the market.
- Make money from subscriptions
Charging for subscription for using your app is another way of earning money by submitting an app to Apple App Store or Google Play Store. You can come up with ideas like offering coupons, campaign or discount to the subscribers to generate a parallel and foreseeable income account. Many applications, like dating apps or online reading apps make use of this way of income.