In this series for Developers, we want to show you how to earn money from developing android apps with this Most Comprehensive Guide ever.
This Article is a continuation of 50+ Ways to making money from apps for android phones [App users & Developers], and this Series is strictly geared to Android App Developers.
Developing an Android App and activating it on the Play store is pretty much the same thing as building and Hosting a Website
After building and hosting your website, what next?
You need Traffic and you have to do the necessity to get the Traffic you need or else no one will know that your site actually exist.
After doing SEO, paying for Ads, going on TV and people are now visiting your website, what next?
You got to generate Revenue, you got to make Money off this Users visiting your site because you are paying for Hosting, Domain and other Expenditures
That is exactly where the Revenue Model comes in
And this is pretty much the same Process for Android App Developers….
You must find a suitable Revenue Model for your App, then apply some more high performing Tips and Strategy that will help you earn even more.
2. Making Money from Apps for Android App Developers (continuation…)
For the guys and girls who actually built this Apps, how can they make Money from their Apps?
This and so many other Questions are what we are going to address below.
How to earn money from developing android apps
We are going to make a list of 8 Best ways to earn Money from developing android Apps
First and foremost, you must know that the Android Operating System is by far the most used and dominated Mobile OS in the Market today
With a whooping 88% Market share and growing constantly over the Years.
According to Statista’s Research on Smartphone OS Market share from 2009 – 2018, the Android Operating System holds 88% of the Mobile Operating Systems market share,
Which gives you more reasons to Develop Android Apps before thinking about other OS.
8 Best ways to earn Money Developing Android Apps
Before we proceed in making the list, take note that all these ways will not work on every Android App, it depends on what your App is offering, how it was built and the type of Audience your App is geared to.
All this and so many other criteria will help you pick the right Monetization Model that will eventually work best for your App.
Most App are offer Freely but in turn runs Ads to generate Money while others are out-rightly Paid Apps
Apart from these mediums, what other Monetization channels should an Android Developer consider?
Selling your Apps
1. The Freemium Subscription Model of Generating Money from your Android App
The name of this Model is derived from the combination of FREE and PREMIUM which gives you the FREEMIUM Model
The way this Works is this, the App is built by default to give all users access to the App Freely with limited access to certain Basic content, feature or functions depending on your App
Then far more advanced Functions, Contents or Features are locked into the PRO section for only users who have tested the FREE default version and see more reason to get more.
These users are then satisfied to pay for an Advance Subscription and Upgrade their Account and Access level.
These Model works for a whole lot of Apps you can find on the Play store and it sure converts.
2. In-App Advertising on your Android App
Rated the most popular and most widely used medium to monetize your Android App,
In-App Advertising allows Advertisers to display Advertisement on your App directly or through a third party platform like Admob by Google.
Earnings on In-App Advertising is based on the popular CPC (Cost Per Click which pays you based on the number of clicks on that Ad from your App
and CPM (Cost Per Impression) which pays you per thousand Impression generated on the Ads displayed on your App.
Apart from Banner Ads on your Android Apps on the Play store, you can also monetize your App with Video Ads which will popup for your users to watch at a certain fixed interval or event.
NOTE: It is important that you weigh the options between Banner Display Ads and Video to see which one is fitting to your Audience, some Users hates Video Ads and would Prefer a Paid Ad-Free version of your App which might be another kind of Monetization Model for you.
3. Paid Apps Monetization Model for your Android App
This is basically a straight forward way to generate Money from your Android App
Basically you are saying that your App cannot be used Free but offer Premium content and one must Pay for it out-rightly in other to be able to use it
Few Apps can succeed this way, for People to pull out their hard earn Money to pay for your little piece of App, it must really worth every cent.
So in a nutshell before choosing this Model, make sure that you are providing Value beyond what they can find elsewhere and then they will have no reason than to pay for your App.
When you visit the Play store, search for Paid Apps and you will see quite a number of Apps that our outright paid
But one thing you will observe is that they have low Download stats as compared to their Free counterparts.
4. Sponsorship Monetization Model for your Android App
Not widely used though but works quite well for some niches, as the name Implies, you must be able to find a Sponsor for your App
Let’s assuming that you have an App on the Play store that allows University Students to interact and chat and you have quite a number of students using it stay engaged
You can strike a Sponsorship Partnership or agreement with a Telecom Company or Bank whom you will use their Brand Identity on the App’s UI
This keeps the Company in the mind of the users who wakes up to it each day as they Open the App even though the Brand isn’t advertising, it is a Psychological Marketing Strategy.
For instance you see a Big Coca-cola billboard on the Highway with just the word Coca-cola, nothing more and you wonder why?
Are they trying to tell you to go get some more bottles and drink? Not really, that wasn’t on the Ad Copy on the Billboard
It is just a way of keeping them alive in your mind.
Same thing happens in the Football field when the Players are playing Football, they wear their Jersey with the Logo or Brand Identity of their Sponsors.
5. Affiliate Promotion Monetization Model for your Android App
With this Model, you offer your App and whatsoever solution that you have in there for Free, Absolutely Free, at times even free of Ads
But in another way round, when users consume those contents, you are being paid by some third party companies that you have signed up with to earn affiliate commission for each referrals on a Performance-based Advertising Model
So let’s say your App is an Article Blog based on Financial Literacy and Finance Management and you offer all those invaluable contents to your Users for Free
You can signup on any Mobile Affiliate Platform that have something related to your Target audiences interest, it could be a Product, a Service, an Offer or an App too.
And when your Users end up clicking to their Offers and end up consuming them, you are being compensated for it.
Let’s assume that your Blog is about Financial Literacy and you run an Affiliate for a Bank App, each time any of your Users downloads and install that Bank App, you earn a certain Cost Per Action (CPA) fee.
6. In-App Purchase Monetization for Android Apps
Commonly found on Android Games and other Interactive Activity Applications,
The In-App Purchase Monetization Model allows you offer Purchase of access to new levels or abilities, Example: Weapons, Life Duration, Grenades, etc.
There are certain Games you can not play to the top level without buying a new powerful Weapon and your App users can only achieve this by paying a token to purchase that weapon, which will unlock that Weapon forever or on that stage only.
Some times such Games allow users to buy and exchange Coins for whatever they may need to win in their Game Play.
Like I noted earlier, this model is most suitable for Android Game Developers, as more than 50% of Games does deploy the In-App Purchase Monetization Model. Based on the same Freemium Model I talked about earlier.
7. Donation Monetization Model for Android App Developers
Do you know that a Platform like Wikipedia and many others are driven by Donation?
That same Model can be applicable on your App, if you have a Loyal Community of users and they get real value for what you Offer
Yet you aren’t charging them neither are you displaying any Advert on the App
Asking them for a certain Donation from time to time with specifics of how the Money is helping to keep the App running could be a very successful Model.
8. Build and Sell Monetization Model
Everyone must not build and launch an Android App to Make Money, the good thing is that you can Develop Android Apps
So why not Develop, Activate and Sell the App to someone else, could be an Individual or a Company looking for an Android App and yours suites their need except for a few customization
You can also do this without being a Developer, hire one, let him Build while you sell it to Companies or Individuals
Question and Answer Session
Why should you Develop an Android App?
Because the Android App Operating System dominates the Mobile Operating System by Market Share
Which creates more Opportunity for you as an Android Developer, the more the Demand, the better chances of your having a share in the bigger chunk of the Revenue Pie
On the other hand, so many Companies are developing or looking out for Android Developers as opposed to the iOS developers.
How much can you earn with Android apps?
That is one question that no one can answer in exact, because it all depends on what App you are building and how you have chosen to monetize it
If you build a Subscription App and charge $10 per Subscription per Month and you have 100,000 Paid users each Month, you will be making a million dollar ($1,000,000) from that Monthly.
On the other hand, someone who builds a Free Android App and uses the In-App Advertising Model to Monetize his App, with 10,000 to 100,000 active users on the App monthly, he or she could be earning $500 – $1,500 per Month
And this also depends on the Demographics of his users, users from the United States and other American Countries tends to favor app developers who uses In-App Advertising as opposed to Users from the African Continents, especially Nigeria.
How do you make money from a free Android app?
To make Money from a Free Android App, you can use the In-App Advertising Monetization, Donation, Affiliate Promotion, Sponsorship or App sells Model.
These Models will all work for Free Apps that you have built
For the App Selling Model, you actually Build and Sell your App on platforms like Codecanyon, ChuppaMobile and Flippa
In the end, we have been able to show you how to earn money from developing android apps and we encourage you to make a thorough research before deciding on the Model to use.
What the App is delivering is very crucial to the type of Model you decides to use, so choose wisely, choosing the wrong Model for a great App could jeopardize your chances of Success
Once again Goodluck on your Development Journey and show some love by sharing to Friends and family and in case you have a thing or two to say, don’t hesitate to comment below.