Introduction Everybody loves freebies. We always look for free supplies that come with any purchase. Thus it is no surprise that most of the apps available on the internet are free of cost. Even most popular online services like emails are continued to be free. This ensures the loyalty and continuance of most of the customers. Why Free? For Android apps and similar other developers, the cost of developing mobile applications pose a serious challenge to keep their products free for all. The software platform, the number of employees working and other operating costs did not let them do so. However, competition from other apps and platforms make it difficult to sell their apps for desired prices. The lure of customers and popularity also force the app developers to provide their apps for free. In such a scenario, it becomes important for Android apps and iPhone app development companies to employ different strategies to gain revenues. There are fair chances that developers may taste success through their free apps. Currently, there exist statistics which suggest most of the revenue from mobile web apps comes from free apps. So here we will discuss ways or methods to make money from free apps. 1. In-app purchases. Mobile apps which offer services or entertainment use in-app purchases to make money. They provide special features, restricted content or advanced levels to those customers which buy them through digital money. Mostly used in mobile games and entertainment, they offer extra utilities through purchases. In-app purchases are excellent when popularity for any product or brand is very high. Developers must create an engaging app to make users buy online. 2. Offering paid membership or premium modules. Besides giving free usage, apps can design their premium versions which can be accessed through paid membership or modules. Consumers can get acquainted with software with basic features and later they can opt for higher features by paying for membership or premium modules. This can be seen in the field of anti-virus products, e-readers, office utilities suit and matrimonial sites. Such strategies aim in bringing niche clients and giving them a first-hand experience. After they got satisfied, they can move to a better and enhanced version for a payment. Developers must ensure a better version. 3. Selling merchandises Mobile apps can also promote merchandises based on their content or popular themes. Once the content or some figures get popular, apps can sell their souvenirs. In gaming, animation, fictional novels and entertainment industry such strategies often yield profits. They help in creating a brand for the app or their content. The developers must, therefore, create an engaging app which makes customers ask for the items. 4. Offering subscriptions Subscription based apps ask audiences to buy the membership for a limited time period or life to continue with browsing or engage further with the app. This method works well in areas where services are niche based or provide specialty services. Like newspaper websites, online content editing, streaming video services and online health and medicine. They ensure regular clientele for the specialized services. This creates a sign of loyalty for the app if the services provided are unique or excellent. Thus it requires a dedicated effort to attract and retain the customers. 5. Providing paid services. Many apps can provide generic and free content for all but require payment for any services customers want to avail. For example, an online fashion magazine gives information about current trends and popular demand to its readers but offer these items or accessories after making any payment. E-retailing and e-commerce business fall into this category. These are basically online retail shops which engage in those customers who have limited time and energy to go to market. Giving ultimate experience with variety and no technical glitches should be the motto for developers. 6. Advertising. Third-party advertising is the most common form of revenue method. Mobile apps and website can give spaces to other marketers who put up their advertisements. The developers gain profits by selling spaces at different rates. Many social media apps and websites run on this mode. The advertisement could be targeted according to customers who engage with the websites. It is used when services are generic and broad customer based. If the developer has a very large target audience, then they can provide for such advertorial spaces. 7. Sponsoring content Many apps let interested vendors use their platforms to promote respective products and services for a fee. This kind of sponsorship let developers generate revenue and passively promote a brand. Most niche based apps or websites use such strategies. Sponsoring is good for any specific feature that is popular with customers. But it must not interfere with content and its neutrality. 8. Referral marketing Referrals are often made where customers are guided for specific sites or products. Users are provided with numerous options and links to resources. This can lead to installations, videos or product descriptions. It is important that link is not outdated or spurious. It should also present the most relevant options to keep users engaged with the website. 9. Monetizing consumer data Every website or app collects or tracks user data. This makes the apps more responsive and relevant to frequent users. While this can improve the performance of the app, it is also a cache of valuable information to many marketers. Many web apps or websites like Google either sell it to third-party vendors or promote their own products based on customer usage. It may be questioned for ethical and legal issues, but this remains the most sought-after revenue form. Until it harms or interrupts a user’s life, this can be used to improve performance and revenues. 10. Loyalty programs Many apps or websites offer services to its frequent and dedicated customers. Such services include loyalty programs that offer discounted product and services or material incentives. Travelling and food apps industry often uses such incentives for frequent customers. These programs are given only to those customers that use a paid service or product. Such apps rely on dedicated customers who are ready to pay for a service or product. Developers have to rely on the demand of the service for such apps. The Verdict In the end, we can conclude that while providing free apps is difficult but surely not impossible. There is a huge market for free apps where customers pay only after trusting the product and the company. For such consumers, developers must develop an ever engaging app or website. It must gain their trust by reliability and appreciation through novelty. Free apps are opportunities for both the customers and the developers.
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AuthorThe NineHertz is an eminent mobile app and web development company with 8+ years of experience. Archives
March 2019
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