Today, billions of dollars are generated from the mobile app industry. Most of the mobile app revenue is obtained from free apps. Google Play announced that only 2% of mobile app revenue comes from paid apps, with the remainder coming from free apps. You may think free apps are not profitable, but it is a fact that they are more profitable than paid apps. There are many ways for those who want to make money from free apps. App revenue data shows that the money you make from a free app is more than the money you make from a paid app. In this article, as Storyly, we will talk about how to estimate the app income, increase the app income, and make money from the free app.
App revenue data shows that in-app purchases are the most important revenue source for the mobile app industry, and in-app purchases account for nearly half of the total revenue from apps worldwide. One of the most effective and simplest methods you can do is in-app purchases if you want to earn income from a free mobile app. Especially in the online gaming industry, users turn to in-app purchases to gain superiority. Therefore, in-app purchases are the leading methods of making money from the app.
App developers are looking for support to improve their apps. To get investment from investors, you can offer them free marketing as part of your service. You can also collaborate with other app developers to fund your project. If you partner with a popular business, you can add their circle and customers to you. In this way, it can be an extremely beneficial partnership for both parties. Besides, a merger with different areas of expertise will be extremely helpful for both parties. You can share your app monetization methods. Thus, app developers who have grown by supporting each other will have no difficulty in finding sponsors.
App revenue data shows that push notifications allow you to earn approximately ten times more app revenue. For example, you can send a discount offer to your users using push notifications. Thus, the user will want to take advantage of this opportunity. You can reach your users instantly through push notifications and immediately send the message you want to convey. Push notifications keep your users in mind and help you share your last-minute announcements. When the app revenue data was analyzed, it was seen that push notifications increased referrals approximately ten times more in directing the user to purchase. Besides, push notifications to increase mobile in-app spend by about 15%. Delivering the right push notification to the right user at the right time will direct your users to in-app purchases. Use push notifications to generate mobile app revenue by making accurate analysis.
The most crucial method for app developers to monetize is undoubtedly the method to monetize in-app advertising revenue. Most of the free apps use this source of income to survive in this market. There are three types of advertising revenues:
Cost Per Thousand Impressions (CPM)
Cost Per Click (CPC)
Cost Per Action (CPA)
CPM is the most preferred type of ad revenue among free app developers, so users don’t have to click on the ad for its revenue. At this point, you may want to leave this job to the expert. As Storyly, we support you in this regard. If you’re going to earn mobile advertising revenue in both paid and free apps, but you are not familiar with how to estimate app revenue, increase app revenue, and methods of making money from apps, we are ready to assist you in these matters.
We have explained the methods you can use to earn app income, whether paid or free. All of the methods mentioned above will be very beneficial for you, especially in generating mobile app income. Making money from the app is not limited to this, but the parts we have mentioned constitute most of them. You can also try, analyze, and improve these methods. If you wish, as Storyly, we can provide you with professional support in this regard.