By now, you should know that the hottest opportunity to make money online is none other than mobile apps.
But what most people are unaware of are the ways to monetize these apps. They usually think of selling mobile apps as they are, but the truth is there are so many other ways to go about it. Here are six of them:
1. Sell the app for $0.99 or $1.99. Do not under-estimate the small value of micro-transactions. With hundreds of millions of smartphone and iPhone users, it’s not a surprise that even a newbie who creates a mobile app can get a lot of traffic from both the Appstore and Google Play Store.
2. Top and bottom banner advertising. There are many ad networks that you can join for free where they’ll display ads in your app. Usually you’ll get paid per click from these banner ads.
3. Nagscreen promotion. Not all apps have started using this tactic yet, but it has been proven to be very effective – display a nag screen to promote an offer before the user gets into the app.
4. Sending push notification offers. Just like email marketing, you can reach your app users through push notifications. There are many advantages of using push notification versus emails including getting your messages sent in real time and having it read instantly.
5. In-app purchases. Today, there are many awesome apps which are given away for free. Reason is: they monetize the revenue by selling related items within the app. For instance, for a video game an in app purchase could be items for the game character or some “power ups.”
6. Adsense in apps. Adsense is not just limited to websites. They can also be displayed on mobile apps. If you’re not familiar with Adsense, it’s an ad network by Google where you’re able to generate income simply by getting others to click on the Adsense ads.
The fact is there are so many opportunities to make money with mobile apps today; ironically, the most important part is not about monetization, but to simply get started. Basically, once you have the users, you can apply all sorts of monetization methods. So don’t be concerned about how to make money with mobile apps, be more concerned with how to create your first mobile app.