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Mobile platforms successfully solve user problems and serve as a source of profit for their owners. But the question is: how effective is such a source? Is the game worth the candle? We answer: yes, you can earn money from your app, but only with the right approach to monetizing it. This is what we’re going to discuss in our article.

The topic is really burning and relevant, in the end, the mobile market is actively developing, which leads to average app revenue growth. And we won’t be unfounded: according to statistics, users had parted with a great deal of money (more than 120 billion dollars) in 2019, and they spent this money on various kinds of applications. Isn't it impressive?

Let's add a couple more statistics: the approximate mobile app revenue (which applies to revenue from AppStore and Google Play) has recently grown by 130%, while revenues from In-App Advertising — by 60%.

The numbers are really inspiring! But what should you do to join those lucky ones who earn money from mobile app development? In other words, what is the best way to monetize apps?

These questions are too complicated to answer them briefly. So, let's discuss (in detail!) key app monetization strategies.

Mobile app earning potential

Every owner of a mobile app wants it to bring him (or her) the maximum profit. Using a mobile app seems to be one of the simplest ways to benefit… But is it really true? Let's examine the statistics…

Average mobile app revenue varies from $5,000 to $6,000 depending on the platform used;
North America is the leader in monthly revenue per app ($9.400) and in the downloads volume (over 1000 per month)

So, the more successful the selected application, the higher the mobile app profits. And what application type do you need to choose, what will have the highest demand? The answer to the specified question will allow earning money on mobile apps without extra difficulties.

The most topical mobile applications

Creating an app has become a business but not every startup becomes profitable. Success and fails in app’s building can be provided by many factors, and one of them is the right choice of the category of your future mobile program.

Games and entertainment.The highest priority belongs to a category of entertainment (mostly games). There are several reasons explaining such popularity. First of all, various games and other entertainment applications are a great way to brighten up the time and get rid of boredom. On the other hand, entertainment gives us a dose of positive emotions which people need today more than ever. And, of course, we cannot ignore the gambling factor. Therefore, users are willing to download these programs.
M-commerce. The second place in terms of profitability is occupied by purchases in mobile stores, which had grown by 30% in the United States last year.
Messengers. Viber, WhatsApp, Facebook Messenger, Snapchat, and other similar instant messaging programs are very popular, and their owners get a good profit.

Although these figures don’t mean other mobile services are hopeless. Not at all! We've just put the case of the most promising categories with maximal mobile app profits. Utilities, Education and Lifestyle categories are also profitable and popular. In fact, every program has a certain cellular app earning potential. You just need to find the right approach to monetization methods.

Monetization strategies

Hopefully, now you believe that you’re able to make a profit from apps. But how to do it, what are the options?

There is no the only answer because monetization schemes of mobile applications have been changing along with the rapid app market growth. Earning strategies are totally different, and there is no perfect business model, it doesn’t exist, at least - yet. Nevertheless, you can (and should!) find your unique way which best suits your personal needs.

First of all, you should be aware that there is a free and paid app market, and each one requires its own approach. But, of course, the most interesting thing is to learn how to make money when your app is free. So, for a start, we'll focus on the mentioned issue by discussing a few free app monetization strategies.

Free apps with in-app purchases

It’s a very popular way to make the app earn you money, which encourages users to conclude purchases right inside the program, in the process of its use. Moreover, purchases can be both real and virtual.

And although the revenue from in-app purchases is sometimes quite large, you need to remember that the majority of trading platforms take a large percentage of the profits (up to 30-40%). In addition, you should provide additional protection to prevent accidental purchases in the application (which sometimes happens, leading to user dissatisfaction).

This popular method of monetization is especially easy to implement when it comes to games. You may come up with heaps of awesome in-app shopping ideas! How about these ones?

Boosters that include different types of help: tooltips, rescue, pills, reminders, etc. These paid options are designed to help users pass challenging levels and obstacles more quickly. Of course, customers must perceive these options as an aid, not a way of your monetization. That’s why some boosters should be provided without payment (like a reward for completing the level or something of the sort). Trial boosters kindle the user's interest and allow him to experience all their benefits.
Exclusive content.You can offer users optional, but valuable game elements, such as rare bonuses, disposable pills, special weapons.. Buying them, the user gets access to additional features, and you earn some more money.
The quantitative indicators. Offer your player to purchase a level life, new stamina, a boost.. It's a quite simple way to enhance the average mobile app revenue.
Decorative elements of the characters (costumes, accessories, toys, jewelry, tuning for cars, virtual money and more). Think of interesting decorative elements, offer them to the right audience - and make a profit!

Lite and Pro apps

Also, you can make money with a free app using Lite and Pro versions.

The whole scheme is rather simple: you offer people to test the free version of your app, trying to convince them to obtain even more fun by taking advantage of a full-fledged program. Say, your customers download the free demo version of the game and enjoy it until the point with artificial limitations, like the number of game levels, de-emphasized functionality, etc. And these limitations can be removed when purchasing a premium account.

To explain the method by example, let's take a look at Tinder, a well-known dating web and mobile resource. It’s undoubtedly an excellent instance of a money making app.

First, the user loads the base program and actively taking advantage of it. Over time, he realizes he'd get even more opportunities to expand his social circle if he removes certain limitations by acquiring Tinder Plus or Tinder Gold. And if Tinder managed to captivate the user with default features and convinced him that his life would be even better with advanced functionality, he'll be willing to buy the subscription.

The most common options of Lite and

Are Apps That Earn Money Ok