Use more earn more
The average person spends about 4 hours each day on their cell phones and about 90% of that point is spent using apps So why not turn your mindless scrolling into cold, hard cash? We rounded up money making apps that assist you earn cashback on online purchases to people who pay you for your opinions, to people who will invest your spare change for you, even apps which will pay you to exercise. Our smartphones are used for essentially everything. With the help of a selected app, we’ll communicate across long distances, order pizza, or find a route in an unknown city. the quantity of apps with rich functionality is growing annually, resulting in harsh app market competition among developers.
In a nutshell, free applications make money from one of the next 8 most well-known monetization strategies:
Advertising through the banner, video, native ad, interstitial ad, incentivized ad: lately, mobile advertisements are the simplest and commonest thanks to receive money from a free app. Most of the apps have embedded commercials that generate payments per its display, per click, or per install by performing certain tasks.
Referral Marketing: Referral marketing is closely connected with the previous model of in-app advertisement to monetize your app. there’s even a separate direction in marketing. Informational about the affiliate company is placed within the earning app and, supported clicks and installs of the apps, you receive rewards. These rewards are supported a cost-per-action model.
In-App Purchase & Freemium Model: In-app purchasing may be a very fashionable strategy employed by the freemium model. it’s possible to sell virtual or physical items, offer premium functionality or bonuses, block ads, or open new app content. of these transactions are managed by the app store and thus the owner gets a commission from every trade. By selling these virtual objects yo receive a gift .
Subscription Model: The subscription model sets up revenue streams from the weekly, monthly, or annual fees for a specific service provided by the free app. This model is usually utilized in cloud services, audio and video content providers, and digital news portals. Consumers receive access to the content according to their chosen subscription plan
Sponsorship: Getting sponsorship may be a profitable model to follow to form money from a free app. If there are already a daily user sponsorship model helps to extend the event of the app. the foremost benefits are often gained by applications with a selected market opportunity. Thus, you’ll contact sponsors within the same industry to match their brand with ads, the knowledge within the app, or adapt the app design to the brand.
Crowdfunding: This one is fairly a replacement because of monetizing an app freed from charge. Developers may use these platforms to boost funds for app development and marketing needs. Raising funds financially supports the strategies.
Email Marketing: Email marketing has always been a profitable strategy in any industry. this is often an old technique of collecting user data, mostly emails, and sending corresponding marketing materials to heat up the subscribers’ interest during a product or a service. it’s helpful when your user retention indices drop or when used to notify about new features, rewards, app news, etc.
App Merchandise & E-commerce: The e-commerce industry is blooming and more and more consumers are joining the online buying community. Most physical items are sold with the help of free mobile apps. the chance to earn cash in of this app model with the help of its Merch tool, an easy program allowing app owners to form and sell their branded items within their apps.