How to make money with free apps?
App Builder Appy Pie, Aug 12: Apps, apps and apps. Today, everyone is going apps way. Be it a globally recognized brand or a small restaurant, almost every business has its own app. An app not only helps businesses in establishing a good communication with their existing as well as new customers, it also proves to be helpful in improving the ROI of a business.
Though, everyone is aware about the apps, but many still find it typical that how to make money with free apps?
It is simple, but deserves attention. Since the money is paid in terms of download numbers, so it is necessary to leverage the free download numbers, if you want to drive a good chunk of income through free apps.
A few of the app owners have tried paid apps, but left with no soaring results and less revenue. While most of the free app owners take benefits of in-app purchases and get about 10 times more downloads, as compared to paid apps. Rather than explaining what a free app can do, let’s talk about the ways to make money with the free app.
1) The Premium Upgrade
It is based on a kind of freemium model that allows individuals to have a second version of their app, which is paid. Individuals can see this as “Lite” and “Standard” or “HD” versions of the app, which are paired all together. Users can easily download the free version of the app, and upgrade it later, if they like the app functionality.
2) In-App Purchases
Similar to premium upgrade, in-app purchases also works on freemium model and allows users to unlock extra features and functionality at a fixed amount of money. As per the report, top 10 grossing apps in 2011 were available for free, and they drove millions of dollars into the owner’s pocket through in-app purchases. But, to achieve good revenue through app purchase, one needs to have an incredible app that can justify it.
Ads have evolved as an ultimate way of generating money from free apps. They are surely going to work, but requires a definite amount of traffic to make it worth. However, the revenue directly depends on the ads that is being run and the number of clicks that it gets. Though it is a slow move, but definitely fruitful.
4) Cost Per Install
Another smart way of making money through free app is CPI Networks. Similar to CPA (cost per acquisition) in the web marketing world, CPI is a new marketing technique that generates money based on the number of app installs. Individuals can add CPI feature to their apps, and be rest assured of getting optimum amount of income as their user base grows.
Finding a sponsorship for the app can be a great way of earning a good revenue from free app. Though it may take a little while to find the right match, but for sure it can boost income of the app owners. Another compelling thing is that the sponsor’s money is for marketing, which they can utilize for promoting the app on social media, through email newsletters and on websites with good traffic.
You can definitely make a good sum of money through your free app, but make sure to follow these steps for more popularity and income.
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