How to Make Money by Creating Android APPs
So, today we are talking about the money that is available to be earned by creating apps and monetizing them. As we have all understood by now, the power of the Internet is infinite and it is going to increase over time. Everybody is looking for newer ways of earning money and creating apps is one very lucrative proposal because applications are what runs our smartphones and it is the basis of everyday life now. Also, the fact that there are many avenues which people can use to promote the applications is a big reason why people are getting interested in it. Today we will look into the world of app creation and how you can make money out of it.
Well, the first thing you can think about regarding this question is the fact that quality is everything when it comes to services and therefore you have to keep in mind that only the right quality of the appropriate can help you up the ladder. It will not only increase your chances of making money but it could very well transform into the hen with the golden egg if the quality is good enough to keep you going for a long time.
How to make money by creating apps?
- As I have discussed already, the first priority is to get a good application going. If the application is based on a new concept and is also efficient in its functioning, then there is a better chance to succeed. Quality also helps you get ahead in the race because it can sustain you for a longer period of time than your competitors, who might only try to emulate you. It is, therefore, of vital importance that you create something which has quality and also the robustness to fight off competition and become the giant in the field.
- Now that we are over this thing, it is time we learnt about how to make money by creating apps. If you think well and deep about this money-making thing, then 9 times out of 10 you will know by instinct that an app that does not come for free makes and makes the most amount of money considering the fact that it is downloaded in good volume. Remember, however, that it is also a sort of deal breaker because people generally will not pay for an application that is starting up or is not really well known. So, if you are a budding app developer, then you might want to try other sources of revenue if this does not work out.
- Advertising revenue is perhaps the biggest channel by which you can gather your income. For beginners, as well as, for apps that are starting out this is the best way to bring in some revenue because users also know that ads are a very important part of every application and they will be present especially when the apps are free. In order to get the revenue from an app you have to get into an ad network that will calculate the number of video views, clicks, and clicks on incentivized ads in order to figure out how much your application is making in terms of advertisements.
This might be a bit disruptive but it will be of great knowledge and use to you later on, but here I am providing a short note as to the various types of ads that can be found. The display ads are the most popular and common, there are three types which include the banner ad that appears for some seconds on your application, the interstitial ad which is like a pop-up and a video ad which contains a short advertisement generally of 30 seconds or a minute. Incentivized ads are also there but they are not of very great importance because it requires some kind of registration or download that users do not prefer.
- After advertisements, now we move on to affiliate marketing that has been growing in importance. This kind of marketing is like a funnel where your app or some other app has the function of redirecting the user to another application where there has to be a download or some activity in order for the app that is funneling to earn some money. This process might seem a bit complicated but once you get the hang of the basic stuff, you will understand that this is the way forward and, therefore, it is of vital importance that you start growing a network so that you can become an affiliate of some big company.
- Lastly, there are in-app purchases that might also allow you to gather revenue. If your application provides a service of any kind and if the user wants to get some additional services, then you might charge a 1-time fee or you can go the sustainable way by offering the option of a subscription.
So, these are the essentials that you have to follow in order to make some money out of your application. I have been going on about the quality of the application because it is a very big determinant as to how much money you can make out of your application and how long it will last in the face of serious competition. There are some positives that you can take strength from which is that the platform is very big for you to exhibit great stuff and if you are really successful in making something that is unique and efficient at the same time, then you can make much more than you have ever expected. All it really needs is for you to continuously monitor because the market is changing rapidly and you will have to adapt quickly to any significant change that might be going on or will be coming soon. You will have to understand your users and how to modify your app in a way that more people download and use it and you also have to think about the economic impact and the marketability at the same time.
Here is me wishing you all the very best if you are going to embark on the app creating journey and I hope it works and this post has also been of some use to you.