Android App Monetization | How to earn money from your apps

Hello people!
Another article of the tech section is here. Today we are going to be talking about the ways to make money from our applications. After the long process of Application development. What a developer wants is to make his application available to large number of people. Every developer wants more and more people engaging with his application. What will this do? What will happen when more and more people get engaged with the application? The app would get famous. The app would have more downloads. But is it enough? Having more downloads or getting your app more famous is a good thing. But the developers also want to earn from their applications.
Everyone wants money. :D So the question is can we earn money from applications?
Yes, you can earn money from applications using the same way in which blogs and websites earn. By placing ads the most common way of monetization. Apps can also be monetized. You can place ads and get paid by the advertising agency.

MONETIZING YOUR APP

There are different ways in which one can earn money from an application. Each of the methods behave differently and affect the monetization process accordingly.

PAID DOWNLOADS

The developer makes the application available to the users for a certain amount of money. The users have to pay a one time amount to use the application. For a paid application it is important to provide something of great value because you have to convince the user to pay for the application. The user will pay for the app only if he knows that the app provides the functionality or value that will prove to be of great help. 

• It is not an easy to launch such apps because you have to pay to launch such an app.
• It is not a long term way of earning money because when the user will be ready to pay a one time amount then the user wont like to pay for other features of the app.
• It has high user value.

SUBSCRIPTIONS

This is also a method in which user has to pay an upfront amount in a certain sequence. For example : weekly, monthly or yearly subscriptions. You can offer subscriptions in which you give the user access to your app for a certain period for a certain amount. 

• It is not an easy to launch method because one will have to pay for accessing the app.
• It is a long term way of earning money.
• It has high user value.

DISPLAYING ADS

A common way of earning money from your application is to display ads in it. Whenever a user interacts with an ad the developer gets paid. There are different types of ads that you can display in your application like Banner ads, Interstitial ads and Rewarded videos. You have to place ads carefully so that the user experience isn't affected. You can also offer points or score to your user by watching an ad.

• It is easy to launch an app displaying ads because commonly ads are place in a free app.
• It is a long term way of earning money.
• It has high user value.

IN APP PURCHASES

Another alternative method of monetization is by implementing in app purchases in your application. You can offer some paid feature in your application. The user will have access to the application but to access the specific features he will have to pay a certain amount.

• It is easy to launch an app with in app purchases.
• It is a long term way of earning money.
• It has high user value.

These are the various methods by which you can monetize your app. You can also combine one or more methods according to your requirement. It is a common practice. You will often see these methods combined randomly in different applications.

combinations can be as follows.

• Ads & In App purchases
• Subscriptions & In App purchases
• Paid downloads & In App purchases
• Paid download & Subscriptions

You can try any of the combinations that suits you.
As an example of how ads can be placed inside your application i refer you to study this simple and well designed application from the play store :

ITEMIZE - INVENTORY MANAGEMENT SYSTEM

BLUINO - ANDROID BLUETOOTH CONTROL

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