Since the demand for free apps has often dominated the paying ones (in terms of income and download numbers), most individuals also pose a common question about how much money apps make. Have you ever considered how to make money from honest money making apps?
Now, more than 90% of the software on the market are free. And in the coming years, the revenues generated from apps that charge for downloading (paid apps) are projected to decline.
Now you’ve come to the right place if you want to learn how to monetize your app without an ad or how actually the honest money earning apps works.
In a nutshell, one of these 11 app monetization techniques uses free apps to make money: ads, subscriptions, retail sales, in-app purchases, sponsorship, referral marketing, data collection and selling, freemium upselling, physical purchases, transaction fees, and crowdfunding. Let’s examine how to make money on free apps, the top and most common revenue models.
- Advertising:- Advertising is perhaps the most common and simplest to introduce when it comes to making money from free apps. And it is achieved via a third-party ad network as well.
It’s very easy to use advertisements to monetize apps and make money, from honest money earning app. An app owner simply needs to view advertising within their mobile application or opt for affiliate marketing and get paid from ad networks of third parties.
Any time an ad is shown (per impression), you can get charged per click on the ad, and when the advertised app is installed by a customer. As a free version app, for a particular period of time, you can also run ad campaigns to generate ad revenue.
- Subscriptions:- Subscriptions can be a monetisation technique that is very useful. App publishers can opt for a limited period of time to provide free content in their applications and then charge users for a monthly fee that allows them to access full content without any restrictions.
The prominent and common approach used by most free app publishers is to give those who want to continue accessing the app content a free trial period and then charge the subscription fee, this is how the honest money earning app works.
Cloud services, audio and video streaming, and online news services also use this form of technique.
- Selling Merchandise:-
In your free mobile applications, another imaginative way is to sell products.
- In-App Purchases:-
In-app purchases are made directly from free mobile apps and are typically quite a straightforward process. Usually, they are used for accessing unique content or features such as power-ups, restrictive levels, or extra features. In simple words, in-app purchases have the opportunity directly from the app to sell a range of virtual objects. The best free game games, such as Angry Birds, Clash of Clans, have improved their user experience by offering in-app purchases to users.
Sponsorship is one of the strategies of monetization that is less widely used, but it can still be an interesting technique. In simple words, if the app publisher creates the right niche app for a targeted audience and releases it on behalf of another business, sponsorship of your mobile apps can be a powerful device monetization strategy.