Android, currently the most popular and open-source operating system for mobile devices, is used globally nowadays. Also, currently, most developers are eager to learn android app development. Various job openings are also available as an android app developer in various MNC’s and startups as well. Computer science students are also making apps for project purposes or future startup purposes. Apart from these, many small individuals are earning a lot of money just with a single android application. In this article, we will look out for some ways from which you can earn money with your android apps.
Find the Key Purposes of Your App: Before proceeding further, we recommend you figure out the key purposes of your app and note it somewhere so that after going through these ways you can decide and choose which revenue generation model suits best for your app. For example, online music streaming services like Gaana and Spotify are generating revenue from Advertisements and Premium Subscriptions. It will be weird for users if they will start selling the physical goods and provide the services for the bill payments. So identifying the key purposes of your app will help you find the best revenue generation, model.
1. Crowdfunding
Crowdfunding is completely different from the normal revenue generation model, but it is being used nowadays. This model cannot be implemented in normal applications. Your idea should be a great help to the community. Your application should be authentic, valuable, and it should provide free content or any free services. Kickstarter, Indiegogo, CrowdFunder, and AppsFunder are the platforms where a custom software developer can raise funds for their marketing or development needs. As per the statistics, On Kickstarter 138 Free app ideas were funded between $10k- $100k. Also, a game named Hello Earth with a cat character generated $148k.
2. Sponsorships
Sponsorships can be said the best monetization option available currently for apps. Because app developers and owners want to generate revenue without affecting the experience of the user. In this way, you can directly get connected with the specific brands, and then you can control the type of ad based on your application. Also, you can analyze your visitors and can decide that this type of ad is best for your target audience. Starting with this revenue generation model is not long you have to just connect or send message to the companies which can sponsor you. The target audience should be the same for your sponsor as well. Many times they can also connect with you via email and can tell you to sponsor their product.
3. Selling Virtual Goods
Virtual goods are non-physical objects or assets that can be sold in online communities, marketplaces, and online games. Selling virtual goods’ revenue generation model can be mostly found in online games as well as on social media platforms. In online games, virtual goods can be a type of life-saver, level up more quickly, unlocking many features which can be done physically also, but it can be time-consuming. The willingness opportunity of the user is used here when a user wants something with curiosity. Even he can pay money for that then this opportunity of selling can be the best revenue generation model.
4. Selling Physical Goods
Physical goods are also a good way of generating revenue from mobile apps. After getting a fair idea of your target group of users which are mostly using your application. You can sell physical goods that are relevant to them. Also, an e-commerce application is based on this revenue generation model, but even you are not making an e-commerce application then also you can sell physical goods through your application. The only condition is to just sell the products which are relevant for your users.
5. Advertisement
Like for websites and for blogs we have Google AdSense. Through it, we can easily integrate ads into our website. Similarly, there is also an available service for application by Google only, and it is called Google AdMob. Google AdMob provides you the service through which you can impose ads on your application. There is also an algorithm AdMob is using that will show the only relevant ads to the user. Refer to this article Overview of Google Admob to get more information about AdMob. You can also implement Facebook Audience Network. Facebook Audience Network is designed to help monetize with the user experience in mind. By using high-value formats, quality ads, and innovative publisher tools help to grow the business while keeping people engaged.
6. Premium Subscriptions
Premium subscriptions, in this revenue generation model you have to charge certain money from the user which provides them a premium subscription for your app. You can give them an application for free usage also, but you can limit multiple things there and to get rid of the limitation of that service or product users have to buy your premium subscription. This is going to be practiced more nowadays. Users will definitely buy your subscription if you are providing them a premium and valuable content.
7. Physical Services
By providing physical services through your application you can also make money. In this method, you have to provide a service that users want, If you were able to satisfy their needs then they are definitely going to pay you for it. For example, you can provide them electrician, a cab service, a house or property listed for rent or buy in a particular area, and many more.
8. Electronic Bill Payments
For electronic bill payments, you have to provide an option to the users through which they can pay their pending bills of electricity, water, landline, postpaid connection, DTH, and many more. Because users prefer to pay bills from a mobile phone rather than paying it by visiting local offices or cyber cafés. For bill payments, you will charge nothing from users, but you will get a commission on every bill payment by the companies or authorities for which the user pays the bill.
9. Paid Apps
If you are providing a service or some premium content, for example, an eBook, that is not available easily in other free sources and if they are then there is not a better user experience. Then you can charge one-time money from users and then only they can use your app. In these types of apps, you should not show ads and should not create a disturbance when the user is using the service. They should feel that you have charged a reasonable amount of money from them, and you have provided them a good service. Then your application will grow vastly, and it will get a tag by users that this is a value for money app.
