Common and most popular ways to make money form your app

Lesson Details:

This course is brought to you by Appy Pie as part of our Academy series now let's talk about some fun things how to make money from your app I'm gonna give you a few of the best strategies the first thing people think of when it comes to monetizing their apps is ads there are a few different formats for ads what I really like is in content ads these are ads that they appear like the rest of your content you know you might be you might have an article in your app and it's talking about something X Y Z blah blah blah and then hey here's the thing that might help you with that and this is a button or a link that you would just add there it would look like really the rest of the article the rest of the app and people some people wouldn't even realize it's really an ad because precisely because it's actually a part of the content it's actually helpful to them right it's not some banner if you want to do like the standard you know banners or video ads I have a great strategy for you in the very next lecture but for now just keep in mind that generally, ads are kind of last resort ish I know they're very natural for game apps but still there should always be additional ways to monetize so in that purchases how to structure your in-app purchases so that they become effective the single best a strategy is to think about who spends money on your app usually the people who spend money are people who are mentally more open to spend money and these are the people who are your super users these are the people who need more out of your app so when you are thinking about what in-app products should I make try to create something that your super users would want to consume here's an example I used to have a customer a client he had apps for emoticons and he's emoticons they were really fun but when people ran out of emoticons then you did more emoticons right so he had you know these are the super users right yes and then later he would like to offer them extra emoticon packages that are a very simple example but you see how it works like deep you know first people ran through the free stuff and then then you did more but really only the people who liked the the original emoticons that are free were the ones who would buy more right so make sure that people like your app get some super users know which features the super users will be more likely to use and they are upselling what you think might be the next step in their use would be right so features for super users are really fantastic candidates for in-app purchases now if you cannot create an in-app purchase maybe like for example I have apps which cater to people who are starting the business these people need a website there is no in-app purchase I can make that help to make a website right they need a domain name they need hosting right they need a design that's not something you can sell with in-app purchases so some things that just not fit for in-app purchases for that reason you can become an affiliate reseller of products in my case I became an affiliate reseller or glucose hosting of a design company or you know of GoDaddy domains right a lot of companies and then if people need a website I tell them hey sign up for it here and if they do I collect the Commission because I'm an affiliate reseller some really popular affiliate sites are Amazon they are the number one biggest affiliate resale affiliate company out there they have like millions of products you can resell as an affiliate and something used to be called commission junctions check them out the CJ com they have a lot of offers that you can sell to your users, in fact, I use them a lot of their offers inside my apps and they monetize so think of what you how you can if there are any opportunities for you to resell products made by other companies so you can tell as a reseller they benefit for you is that there's no extra programming for you for the in-app purchase stuff and there is no inventory of physical products that you might have to carry because it's the another company has them which you are reselling and the other way to monetize and subscription subscriptions are amazing because imagine if a person buy something from you for $0.99 it's okay but if they subscribe they would over 12 months spend you know 12 times that that's a thousand the twelve hundred percent increase if they subscribe for two years that's 2400 increase percent increase in sales from one person right to imagine if you can explode your revenue this way and to create a good subscription you have to have something which is recurring use in your app and generally you have to make your app a recurring use the app because if people stopped using your app for some reason then that's it you know like they stopped using so you lose the chance to sell them work so your goal is to make people even when you can sexualize about this app decide the app idea you have to understand how it's gonna become a part of people's lives and if it becomes a part of people's lives then you have chances to sell them subscriptions which will explode your revenue one tip is sometimes people don't like subscriptions because they think like well I'm gonna subscribe but I'll forget to use it and I'm gonna waste money so the way around that is create consumable things when people need to use all the time they'll still come back just like a subscription but they just won't be afraid to buy it because it's just a one-time thing although they'll consume it and the next time they use it they can buy it again, of course, some people might not come back so if subscriptions are better but it's made up it makes up for it by people don't have the fear of forgetting to unsubscribe and so these are the most common ways to make money from your app.