How much money one can make through a mobile app? This has been a question that got a lot of traction recently among mobile app development company in USA. Through this write-up, we will try to give you a complete explanation.
Those who have already have an app developed or others who are planning to develop one. The answer is, an app has huge prospects to earn a significant amount.
Ok, let us quote a real market example for you. The famous gaming apps like Pokemon Go, Candy Crush Saga, and Clash of Clans have amassed $1,635,049, $442,295, and $321,784 of wealth.
On one hand, gaming apps take a lot of budget and resources. But you can’t ignore the fact that the gaming apps claim the highest-earning figures.
But gaming apps are not the only resort to earn revenues. There are other categories of apps too that can earn you huge revenues.
In this post, we will try to explain what affects mobile app revenue generation ability. By reading these, you can earn in the following cases.
In-App Purchase is Important for App Revenue
In-app purchases play a significant role in your app monetization and help you to earn more revenues. However in-app purchases a useful feature of gaming apps, but they can play huge earning resources in other app categories as well.
IAP falls in the category of the Freemium model of app monetization and lets users buy some extra features to use the entire app. So to increase mobile app revenue generation from in-app purchases, you can have a look at these factors:
- Identify your users and their specific needs
- Deliver a customized & personalized user experience
- Try to establish a long relation
- Pay constant attention
- Make frequent changes in your pricing plans.
Mobile App Revenue Depends on the Platform You Choose
The revenue generation process and the total revenue heavily depend on the platform you choose. Both iOS and Android have their attributes to earn revenue, so you have to choose between them as per your user and market segment.
Talking about in-app purchases, iOS is more expensive than Android. But still, iOS users make more in-app purchases than Android. As per the stats, ioS users spend more than 2.5X on in-app purchases than those of Android users.
But that doesn’t mean one cannot consider the Android development when it comes to in-app purchases. Don’t forget Android has amassed the largest number of users than iOS. But you have to devise the right strategy to monetize your Android app.
Focus on Subscription Model to Earn more from App
Today, a majority of apps follow a subscription model and show good growth by adopting it. Just look at Netflix, today it has more than 150 million subscribers. In terms of revenue, it has earned over $4.9 billion in revenue. Another app, Tinder charges $14.99 per month through a subscription.
In-App Advertising to Earn Revenues from App
In-app advertising lets you earn money by displaying ads of multiple brands. It is considered as the trusted and one of the most preferred ways of app revenue to earn more money. To adopt this, you have to agree with the brands interested to advertise through your app.
This model works as per the regions and revenue models run there. Just see what kind of arrangement suited you.
A mobile app has a huge earning capacity and helps you to get high ROI (Return-on-Investment). There is no limit to how much you can earn through your app. But if you customize your app and follow the above methods, you can monetize your app well.