Wondering how free apps make money, then your search journey reached the endpoint. After launching WhiteHat Jr: Live Online Coding for Kids, I am getting many questions about this topic. Well, it’s time to reveal.
Often you never look at how these free apps generate money from it. We simply install the app from the google play store and start using it.
You know that 90% of Apps are free in the android play store. According to – TechCrunch.
The best monetization strategies –
There are tons of options to earn money from apps using various monetization strategies. In this article, we cover 3 well-known techniques.
- Affiliate Marketing(Amazon).
- In-App purchase(Fortnite Game).
The App Market overview
The number of smartphone users worldwide today surpasses three billion. It is forecast to grow by several hundred million in the next few years further. And the mobile app industry is thriving. As of 2021, there were more than 1.96 million applications in Apple’s App Store and 2.87 million in Google’s Play Market, making it the most popular distribution platform globally. It is projected that revenues generated from mobile apps, including advertisements and in-app purchases, will double by 2022.
Free Apps VS Paid Apps
Free Apps – 2,589,804 free apps available on the google play store as of 2020.
Paid Apps – 1,25,894 paid apps on Google Play Store.
How to make money with free apps
Advertising with AdMob -AdMob is google’s mobile advertising platform specifically designed for mobile apps. It is easy to set up. The most common way to generate money. 7 Out of 10 Developers choose this method to generate revenue. AdMob has various ad variants to utilize in a mobile app.
Affiliate Marketing – The second most popular way to monetize your app. Information content/banner placed in the app and based on clicks and installs. You receive rewards. These rewards are based on a cost per action.
In-App purchase – In-app purchasing is a prevalent strategy used in the freemium app model. In-app purchases provide an ability to sell a variety of virtual items directly from your app — including extra bonuses, premium content, game currency, and goods or unlock game levels.