How Much Money Can You Earning From Apps
Earning From Apps – What comes to your mind when we take the names WhatsApp, Instagram, Snapchat, Wechat, Musicals App, and Twitter, etc? Yes! They are all names of mobile applications with earnings in billions of dollars. You have a great idea and you have approached an android app development company to make an application. Do you know making money of apps? Do you know what exactly your idea converted into an android app is worth? Do not worry because many businesses do not know that.
Making Money With an App
In 2018, alone mobile app revenues were over 365 billion US Dollars. And, it is estimated to cross over 935 billion US dollars by 2023. These are just small stats to show the potential that a mobile application posses. We are into android app development services and promotion. We understand what your idea is worth and how to promote a mobile application.
How Much Money Do You Make From Mobile Apps?
Now, another question of why make a mobile application? Studies show that about 90% of the time spent on mobile devices is on apps. Also, compared with websites it is more convenient for the user to login to an app to make a purchase. They get better deals and faster options. Now, you know that apps do make money but the question is how you make money through them. We have brought here some pointers to keep in mind to ensure you make good money from your android application.
Here Are Some Tips To Earning From Apps
Workout Your Idea And Its Market- Before you plunge in and get your app development started. You must first do market research for your idea with how you will make money from it. The best way is to study the competitors in the market. As the best android app development company in Dubai, we carry out market research for our client too. Market knowledge gives a clear idea for app designing and development with a proper marketing strategy.
Choose Your Platform Right- When you have done your market survey you will know where your prospective customers are. With this, you need to focus on the platform the majority of your customers use. Whether it is iOS or Android platform, you have to make a decision. As per statistics in the second quarter of 2018, 329.5 million Android-based mobiles were sold as compared to the 44.72 million based on iOS. When we compare the in-app purchase iOS makes twice sale compared with Android. But the number of Android users is very high making it a good choice of platform. Our expertise in both the platforms and greater market understanding makes us the top android app development company in the UAE.
Choice Of Payment Gateway- The increases rate of online transactions has also increased cases for the security of online payment. You do not want your users to run away without buying your product over security concerns. You will have to choose the most compatible option. The most used mobile payment apps include Google Pay, Pay Pal, and Apple Pay, etc. You can also include the option of net banking for the payment.
Understand The Play Store- Google play store is the largest source for Android apps in the world. You can download the apps free or with the payment. In the play store, you have both the options of making your app available free of cost and paid. The play store works on the model of 70/30 that means it takes 30% of your earning and gives you 70%. It works on 30 days payment cycle.
What Is Your Revenue Model- You need to decide whether you want to make your app free to download or paid? This will form the basis for the marketing strategy of your Android app and how much money it is going to make. In case you decide to keep it free then you have multiple options in your hand. The first option is of in-app purchase, which is a wonderful option used beautifully by gaming and dating apps. Second, you can even tie-up with the companies to display their Ads. You can work on the click per view agreement for the pay. Again, you can have a subscription model for a per month or yearly basis. In this, the user has to pay the amount per month or once a year.
Think Beyond Phones- Do not get stuck with just mobile phones but think beyond them too. Nowadays, smart TV and smartwatches have come up. You need applications for them too. As time goes by, we will see more devices connecting through IoT (Internet of Things).
The moment you start your app development speaks to your android app development company about monetization. This blog will help you to learn, how to earning from apps. A smart app with smart marketing can make it viral and give you more money from it. We have an expert team helping clients make money from their apps.