In 2020, there are 3.5 billion smartphone users; from this stat, it is clear that the number of mobile app users around the world will also be around the same count or more than that.
Due to the increasing usage of a mobile app, most small, moderate, and large companies also prefer to develop high fidelity app for their business.
Businesses prefer to avail of mobile app development services from the company, which offers reliable Business app Models. Nowadays, mobile apps present a variety of ways to make money. But to use this thing correctly, it is important to select the best Business Models For Mobile Application Development.
There are various ways you can go for monetizing your app. Let’s take a look at some mobile application models that you can choose to gain profit.
Top 7 App Monetization Models For Your Mobile Application
Whether it’s a mobile game or a shopping/ photo editing app, the mobile market is pretty huge. If you have an idea of developing an app, then go with your idea, but you should also plan the revenue stream.
Here I have mentioned a few mobile app development business models that will, for sure, help businesses to make money.
It is one of the most favoured ways of monetizing your app by offering it for free. But the users need to at least once purchase it to receive all the benefits from the app.
While using music, antivirus, or such mobile applications, you must have noticed that several ads get opened without clicking at any button. This occurs because the apps use the uses a freemium model. The users are more likely to spend cash on an app’s premium features by offering the app for free.
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2. Freemium Apps That Allow Multiple Purchases
Just like the basic freemium model, a multi-purchase freemium app allows users to put more money while using the application.
This thing is usually has been seen in mobile games. This model instigates the users to keep spending money on their free app by offering additional game items.
And many of the addicted users keep pumping money into the game to advance their rankings. Making money via mobile app depends on the model means which business model you have selected for your mobile app development.
3. Advertising on Freemium Apps
Advertising is the ultimate idea for any app publisher. This model offers the app for free if the users can endure banner ads, or simply they can purchase a premium version without having these disturbing ads.
The publisher will be benefited on both occasions. By running an advertisement for the mobile app or on the mobile app, you can build or cam grow up the market value of the application.
4. Partnering With a Sponsor
Unlike the old ways of advertising, where a number of ads from various companies keep disturbing, so to eliminate these types of issues, many apps have made partners to a particular sponsor.
Only the ads pertaining to a particular sponsor are shown in these kinds of apps. This also helps your businesses in targeting the audience. If your business is connected with any brand name, this model will be really helpful for your business.
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5. Video Advertisements
In this method, instead of just showing a banner ad of your app, you can show a short video to the customers, which is more appealing and attractive.
The app developers partner with ad networks to make and show short video ads on their apps, which will help generate revenue.
6. Promotional Services
Without any promotion, you are surely not going to make a single penny from your mobile application. Even films need to be promoted to earn more money.
You can simply promote your apps by using promotional services like Appshout, by which your mobile app will be visible to many consumers and app reviewers.
Even getting your app on famous websites and social media can help it grow more. This will amazingly help your app in getting the making app ranking on the first page.
7. Paid Apps
It is easy to guess that this option means paying for the app from the very beginning.
It is a business model that has the potential to make money. In order to make this method working, you need a brand or recognized product with devoted users, or you can also use promotions to show your app to your target audiences.
You can also build such apps that everyone wants, or you can also build an app as a service app; for example – Uber, Zomato, Swiggy, Ola, etc.
The Best Money Making Mobile Apps
Several mobile apps are there, which are making money by employing various sorts of business models. But among all the few mobile apps are very famous for earning money by adopting the right sort of solution. View the list of top money-making mobile apps from below:
- LINE Manga
Monetization is not possible without selecting the correct business model. Although these are not just only ways of making money through apps, as every model works differently, some help you target the audience and make good reach in the market.
Several business apps might have failed to make money; usually, this happens when anyone chooses the incorrect business models for their mobile app.
If you are also confused about making the right choice for your mobile app or Looking to develop a mobile application for your business, just hire mobile app developers from the recognized mobile app development company (ValueCoders).
ValueCoders holds 16+ years of domain experience, and our development team has launched 4500+ projects globally. The development team of the organization always tries to render valuable solutions to its clients.