Nowadays you can get even more for free apps than for launching the paid apps. 4 to 5 million free apps are available for download from the Apple App Store and Google Play Store. Now the hot topics in-app market is how do free apps make money? Whether it's worth investing for free app development?
Middle East region also has taken over the trend of free apps. Many entrepreneurs in Middle East countries like Saudi Arabia, Yemen, Oman, United Arab Emirates, Qatar, Bahrain, Kuwait, etc. approaching the leading App Development Companies in Dubai
to know more details about the benefits of free apps. Here I am explaining the options on how to earn money from free apps using various monetization strategies with the help of a leading App Development Company in Dubai
You can see thousands of apps in both the Google Play Store and the Apple App Store which uses extremely In-app purchases popular strategy. There are three types of In-App Purchases
These types of products a user can use only once, virtual money or health points are the best examples.
This In-app purchases users can buy for permanent, additional functions or ad blocking are the best examples.
This type of mobile application may offer subscriptions that unlock some content or functions for a certain period of time. Subscriptions will be either non-renewing or automatically renewing.
Ads will bring your product in the global market. The In-app ads are actually tools of affiliate marketing; you can advertise your affiliates’ products like apps, games, etc. inside your app and get paid if your users interact with those ads.
Following are the most popular types of campaigns used in affiliate marketing
Cost per click (CPC)
In these types of ads, you get paid for each click on ads displayed in your mobile application.
Cost per view (CPV)
It is based on video ads, the more times users of your app watch video ads, the higher payout you get.
Cost per install (CPI)
In this, you will get paid whenever a user of your app installs an advertised application.
You can display ads in your mobile app through different ways like Banners, Native, Videos, Interstitial, Rich media.
In this monetization strategy App Development Companies in Dubai
provides you a second, paid version of your application. Once the users like a free version, they’re likely to opt for a paid one that has some extra functions.
MX Player is a popular video player available on Google Play, it has a free version, but it contains ads.
In sponsorship monetization model you create a mobile app that gains quite a lot of users, after which you contact a sponsor company and offer to update the design of your app to match the sponsor’s brand.
Two types of sponsorships are there you can either split the revenue with your sponsor or receive a monthly sponsorship fee.
This is one of the powerful money-making strategies. You can ask mobile app users to provide their emails and, later, send them messages.
So if you are decided to build a free app, hire the best Mobile Application Development company in Dubai
and give importance to the following tips that will help you monetize your free app in the most effective way possible.
Consider the business goals of your free app
Select a monetization strategy based on your app’s business purpose that helps its users solve their problems.
Define your target audience
While creating the app first preference will be for the users. With the help of leading Mobile App Development Company in Dubai
draw a user portrait and decide what functionality users need, how much time they’re likely to spend using your app, and so on. An innovative application developed by one top-notch Mobile Application Development Companies in Dubai
tailored to the user needs may boast large download numbers, the truth is that only a small part of your users will actually bring you to profit by clicking on ads or making in-app purchases.
Research your competitors
If it is a free or paid app before launching a mobile application competitor analysis is very important. You can hire one of the best companies among the List of Mobile App Development Companies in Dubai
, who will help you to do the better competitor analysis and will give you a detailed idea about what the competitors offer, what kind of designs they have and, more importantly, what monetization methods they use.
Today the app market is highly competitive; you should make your free app convenient for users by avoiding more ads or in-app purchases. Making your app comfortable for the users will make your app stand out from the crowd. I think this article will give you a clear idea about how free apps make money, so you can give your idea a go and turn it into a real-life application.
Source code How do Free Apps Make Money?