A lot of people wants to make money from the internet and making it. Android is at peak of its market and making money by creating android apps is now popular. In this part, we will see how people make money from their apps in play store.
You can make money from your apps in the play store by showing ads, selling paid apps, in-app purchases, and subscription services. For good revenue from your app, you have to get a good number of downloads in the Google Play Store which is the leader of the App Store for Android.
There is always a myth that Google pays for downloads. The truth is Google never pays for the number of Downloads. I have listed all the Direct and Indirect ways of making money from play store by creating apps:
Paid App Sales
Selling paid app is the most direct way of making money from the play store. But selling the paid apps is not as easy at it looks. You must prove that your app is worth buying.
Complex apps like an image and video editors, Apps that serve the very particular purpose are likely to sell more than some simple apps. You can create some apps with ads that are free to use and release a pro version without ads. Pro version may also include additional features.
Its always adviced to target a very specific niche and niches with less competitor to sell paid apps. If you have a competitor with the paid apps it’s recommended you have all the features as the other one with less price.
Displaying Ads is the most common way to generate revenue from your app. There are different Ad networks that provide this service. In fact, 50 percent of the apps made serves ads.
Most common Mobile Ad networks are Admob by Google and Facebook Ad Network. Admob has the problem of low cost per impression/click but has the high fill rate and its vice verse with Facebook Ads.
Doing Ad mediation is now more popular for increasing ad revenue. Ad mediation is the process of having different Ad network in the same app and displaying one with maximum RPM.
There are no restrictions in showing ads for paid apps also but this highly not recommended and users are not going to like that since they are already paying for it. Also, don’t flood your apps with ads this will also result in a low rating of your app. Shocking your user with an interstitial ad that interrupts user experience is also a common mistake by beginners.
Ad networks are working continuously to provide native Ad experience to the users. However, Ad units like Interstitial and Rewarded ads are likely to perform better and get you more money.
Games and Apps that perform some special tasks to help user are most likely to go with In-App Purchases. Google has made it a lot easier to make In-App sales for developers.
Games can make a lot actually if they are selling items like special kits to use in the game. This is what most of the famous games do.
For Apps, you can provide simple functionalities of your app for free and to perform complex ones the user can do In-App purchase. It’s more or less like a premium option.
But Games are way ahead in this type of revenue.
Other Useful ways
Monthly Subscription Service
If your app is providing some service like stock market status to your user on a daily basis on a subscription model then this is the best option to go. Google also provides a wonderful model for that.
Music or Video streaming apps and other apps that provide media contents are most suitable for these kinds of revenue model. Retaining users in this type of model will provide the more promising scope of business and you generally need a team to manage when it grows. So the number of subscribers is directly proportional to the revenue you will get.
Many apps that deal with SaaS model also has this type of subscription.
Other than ads affiliating the products related to ads is also a good option. For example, if your app is about camera guides affiliating products like editing software, cameras, and other related things will work fine.
In reality, if your app is doing good, Affiliate sales sometimes make more than you make through ads. Amazon affiliation is also a good thing if you can’t find any specific partner to affiliate.
Selling Products in App
Selling e-products is now common across the internet. If you are a subject matter expert people are buying the guides from you in video or pdf format by paying you.
Suppose if you have an app for photo editing sell a guide for photography and editing that will work well.
Actually, there is no specific way to make money from the app. You can make from whatever way you want. I have listed the most common ways that are currently used. You can use one or more ways among this to make money from play store. People are coming up with innovative and tricky ways to make money. But don’t be fishy for money. Always stay with play store policies and be in a safe zone.
Users are believing your product over others and make sure you meet their expectations. Start developing apps targeting user requirements and expectations. Getting paid sales is too hard then you expect. You can win only if you really sort the way out to make it.