We all love the free stuff, don’t we?
In fact, in today’s time, your audience does not want to shell out money on pricey mobile applications. Free applications are always trending on the top and they successfully grab the attention of users. That’s why, while launching any free application on the app store or play store, you must earn on it. Before starting any development process for free mobile application, you should understand clearly how you are going to recoup your investments.
The number of applications released for FREE, underpinned by an alternative monetization strategy is developing. FREEMIUM is digging in for the long haul. And this plan of action has demonstrated productivity.
Free mobile applications can generate more money than paid applications in the stores. If you will check the analytics for top branding applications with high revenue on the google play store & app store, mostly those are free applications not paid.
The free tag is exceedingly speaking to people. Generosity gets the crowd’s consideration. That is the reason that app development companies are giving them for free. It is also a winning and lucrative promoting procedure.
It meets expectations about applications as well. Doling out your application free of charge permits clients to catch wind of it, comprehend its esteem and prize you for it a short time later.
The mobile application world is an uproarious spot. The rivalry is wild. If your application is holding up to be found, grasp free.
A study directed a year ago by the examination firm that sorts demonstrated income from freemium applications overshadowed that of premium ones where the iOS and Android are concerned.
Over the long haul, free dependably pays off.
Strategies To Make Money From Free Apps
This is the most common way to earn money from free mobile applications. For developers, it is most easier to implement also as they can use any third-party services to display advertisements in the application.
Various Types Of Advertising
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You may view banner advertising in one of their usual places-at the top or bottom of the page, or think for them about a more imaginative spot. The prospect of showing ads in different sizes is convenient for consumers and effective for device owners.
Those advertisements are anything like interstitial and banner advertising. These have a larger size compared to banners and appear on predefined logic, e.g. after performing a given action such as pressing the button.
It is the most powerful advertisement paradigm when we’re talking about the incorporation of in-app advertisements. This type of advertisement is generally used in gaming apps or to give rewards points to the user after completion of video ads. That’s why it is also called as Rewarded videos ads. It is easy to make money from such an ad model, as an advertiser you can easily convey the brand messages.
These sorts of app ads are full-screen pop-ups that show up at different time frames. Users will close this ad at the upper left or right corner by pressing a close button. After a user has completed any action such as finished photo editing and uploading, it can be seen or gained a level in a game.
InApp purchases are used majorly in the applications to get the physical money directly in the account. Developers can simply integrate in-app purchases in case of any premium features or paid rewards or coins while playing games. In this way, app downloads can also be increased and earn digital money directly from users by attracting them using additional / premium features.
According to functionalities of the free application, you can add paid features using in-app purchases:
- Extra filters for photo
- Rewards points/coins in the games
- Upgradable levels
- Physical goods & services
This is a very helpful monetization strategy. Limited content is available for free in the application for a limited time. Then the user has to pay to continue using it & unlock the extra features. This type of revenue technique is generally used in audio/songs/video streaming apps, cloud services, online magazines, afterward free, etc.
Multiple app distributors are using this technique to increase downloads by offering free trials and then different types of subscriptions will be there to continue with those free services after trial periods.
Google and Apple make it easier for developers to implement subscription transactions through their platforms. For the first year of every subscription, Apple takes 30%, and then 15 % after one year of paid service. Google offers better terms, taking 15% of first-year subscription sales.
Sponsorship is one of the least commonly used forms of monetization but it can still be an effective technique.
In simple words, sponsorship can be a powerful app monetization tool in your mobile apps if the app developer creates the right niche product for a targeted market and releases it on behalf of another company.
Similar to blogs, advertisers whose target market is the same as the one addressed by the app ought to be recognized by app publishers. When creating the app, a good starting point is to build a list of organizations and brands that may benefit from the relationship.
Freemium is shaped by the words free and premium. A freemium application is an application that a distributor gives complimentary with a specific end goal to in the end profit from it by charging for redesigns or other extra administrations.
A freemium application is typically not the full form of the application or does not blanket the circle of gimmicks.
Other freemium applications are accessible with a full range of administration for a trial period after which the clients will pay for utilizing it.
Freemium Model Adaptation Ways
There are three principal choices. You simply need to choose which sort of adaptation model to use.
Free, ad-supported app – you join publicizing space into your application: sponsorship and/or support items.
The free app, plus in-app purchases – the application is free however clients will pay to get access to extra substance or extra gimmicks.
Free, subscription-supported app – you combine membership and restore your substance oftentimes.
You can join those adaptation rules as well. You could offer a free application with ads and afterward service/business charge cash for the commercial free form.
Below image displays the survey of 100 iPhone applications that are free and still make desired revenue through in-app purchases
[ Image Source: https://i.insider.com/50202240ecad04a41b00000a ]
All these freemium applications resolve to be the best in their corner. App development companies dole out an extraordinary item to the people until they are ready to pay for it. Income is the consequential convulsion of strength and handiness.
Liberality pays off. The free factor empowers your application to spread. Users will promote your application indirectly.
Simply give it away to cash in.
As described, there are many more monetization strategies available in the market to make money from free applications. When you have decided to create a mobile application for your service/business, it is important to decide target users for that and according to that, you have to choose the best monetization strategy before starting mobile application development. At Zealousweb, our sales team is always available for you to help in choosing the best monetization strategy to earn as much as money from free mobile applications.
You can use the best option according to your target users & functionalities of the application. But in general, you can use the below strategies:
Integrate multiple types of paid advertising in the applications from which you can earn money in your account according to clicks on advertisements.
Offer customers for the free trial while installing an application for a limited time. After completion of the trial period, you can provide an option for customers to choose any subscription plan to continue using services.
- InApp Purchases
Provide some of the features for free & then add in-app purchases for premium features. Using this way, you can attract customers to use premium features by paying through in-app purchases
Below are some of the key tips:
- Find the market priorities of your Free App
- Define the audience you want
- Study The Rivals