The 7 best ways to earn money from Android apps
Today, Android, the most popular and open-source operating system for mobile devices, is used worldwide. In addition, most developers are eager to learn about Android app development.
A lot of android app developer jobs are available in various MNCs and startups.. Aside from these, many small individuals can earn a lot of money with a single application. This article explores some ways in which you can monetize your Android apps.
Knowing the main purpose of your app will help you find the best revenue generation model. This article give deep into ‘how to earn money from developing android apps’. Look at the ways here.
Table of Contents
1. Sponsorships
Currently, sponsorships are the best option for monetizing apps. App developers and owners want their apps to generate revenue without compromising the user experience. By doing so, you can directly connect with the brands, and then control the type of ad based on your application.
Additionally, you can analyze your visitors and determine if this type of ad is most appropriate for your target audience. You just need to connect or send a message to the companies who will sponsor you in order to start this revenue generation model. Your target audience should be the same as your sponsor’s. You can often reach them via email and tell them to sponsor your product.
2. The crowdfunding model
Crowdfunding is a completely different method than the normal revenue generation model, but it is currently being used. This method cannot be implemented in normal applications. Your idea should be very beneficial to the community. It should be authentic, valuable, and it should provide free content or services. Platforms such as Kickstarter, Indiegogo, CrowdFunder, and AppsFunder allow custom software developers to raise funds for their marketing and development needs. There was a game named Hello Earth featuring a cat character that generated $149k. Most users who are earning money in 2022 use this model.
3. Buying and selling virtual goods
A virtual good is an item or asset that can be sold in online communities, marketplaces, and online games. The revenue generation model for selling virtual goods is mostly found in online games and social media platforms. It is possible to buy virtual goods in online games in order to level up more quickly, unlock many features which can also be done physically, but it can take a lot of time. In this scenario, the user is willing to do something because it is curious about it. It can even be a good revenue generating model for him if he pays for it. Nowadays, it has become fast way to earn money.
4. Advertising
For websites and blogs, we have Google AdSense. We can easily integrate ads into our websites and blogs. Similarly, Google AdMob is an application service available only to Google users. You can impose ads on your application through Google AdMob. AdMob also uses an algorithm that shows the user only relevant ads. Refer to this article Overview of Google Admob to get more information about AdMob. Facebook Audience Network can also be implemented. Designed with the user experience in mind, Facebook Audience Network is designed to help monetize. Using high-quality formats, quality ads, and innovative publisher tools can help grow the business while keeping customers engaged. You can also include earn money shopping apps in the advertising model.
5. Offer paid apps at a low price
If you provide a service or premium content, such as an eBook, that is not readily available in other free sources, and if they are then there will not be a better user experience. You can then charge users a one-time fee, and then only they will be able to use the app. In these types of apps, you should not show advertisements and should not interfere with the user’s experience. Hopefully, they feel that you charged them a reasonable amount and provided them with a good service. When your application grows, it will get a tag by users indicating that it offers value for money. Not only in US, this model is being used by India, UK and many more countries.
6. Subscriptions to premium services
The premium subscriptions revenue generation model requires that you charge a fee to the user in order to provide them with a premium subscription for your app. Also, you can provide them with an application for free usage, but you can limit multiple things there, so that users have to subscribe to your premium service or product to remove the limitations. Nowadays, this is more common. If your content is valuable and premium, users will definitely subscribe to your service.
7. E-payments of bills
In order to enable electronic bill payments, you will need to give the users the option of paying their pending electricity, water, landline, postpaid connection, DTH, and many other bills online. Because people prefer to pay bills using their mobile phones rather than visiting local offices or cyber cafés. As a result, you will not charge users any fees, but you will receive a commission each time a company or authority pays the user’s bill.
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