Monetization options are plenty
When it’s time to consider which method you want to use for generating a steady income, there are so many options that even the pickiest app publisher should be able to find a suitable option.
Subscription based apps are by far the most popular choice for app publishers. Currently 79% of the apps on Google Play and 94% on the App Store are using the subscription-based model.
Subscriptions are a popular revenue model for both software packages and apps, and there are some good reasons for this: there is no up-front cost to the user (or a minimal up-front cost); average revenue is higher than with other monetization methods; and this model generates recurring income for the app publisher.
Does this sound like an appealing option to you? Then consider offering a fully functional, free app for 7-14 days before a subscription is required. It creates a feeling of ownership and hopefully fulfills a need for the user who will gladly subscribe before the free trial period ends.
Freemium is another subscription model that’s seen a boost in popularity, although not as great as that of subscription-based. Popular apps using this model are Zoom, Skype and Fortnite to name a few.
With freemium, the user can use the app with limited functionality and can pay to unlock all the features. It’s possible to set payments for individual actions like buying specific features or to access the complete set of features.
These apps make revenue on clicks that take users to affiliate sale destinations. Let’s say you have an app that includes ratings of pet food, lists recalls and has related articles on the topic with a “buy now” button that goes to various resellers — you get a cut of any sales from these affiliates.
This would be a good choice for apps offering reviews, deals, convenience — or for a social interaction platform based on a certain category.
This is the oldest type of income generating model and originated with the advent of app stores. It’s the traditional method — and still a solid choice.
You have probably seen these ads in various forms in free apps before. They exist as banner ads, native ads, interstitial ads, offer wall ads and video ads.