It is very rare to see someone that is willing to pay for an app they know next to nothing about or even trust. And being new to the mobile app business does not improve the chances of users paying either.
It can be very frustrating as an app developer when you have to make your app free because people would not pay for what they don't know about. Then you begin to look for ways to make up the building cost, which is very discouraging.
Well, if you have a free app you are not making money from or about to make an app, do not worry as there are other ways you can make lots of money even if your app is free.
Getting a sponsor for your app is a great way to make money using your free app. You are not only going to make a lot of profit from the partnership, but you'll also get credibility and recognition; a two in one package.
When looking for a sponsor for your app, you need to be strategic with who you approach. It is best you approach a company whose target audience makes use of your app more. That would give you an upper hand while negotiating a deal since you have what they need. It’s a win situation for everybody.
How a freemium model works is that you have a free version of your app and another version for a price. Once users download the free app which does not contain the whole package, there is a link that takes them to where they can pay to download full package.
This idea is smart, but your app has to be very interesting for this to work. After your users download the free app and enjoy it, they become intrigued as to what the full version has to offer.
The fact that your app is free does not mean users cannot pay to unlock some locked features in the app or purchase some coins. With a few in-app purchases you would be making so much money from your free app, it would not matter that it was downloaded for free.
Also, these purchases can be a one-time purchase or a continuous purchase method. The latter is more profitable, but your app has to be worth every dime for it to work.
This is almost like in-app purchase because you give users the opportunity to improve the app just for a little cost. You add new features to make the app interesting or make it more comfortable by removing pop up ads at a cost.
But you have to make sure the upgrade is great else you can get bad reviews.
Ads are one of the most profitable ways to make money off your free app. But for a company to be interested in placing an ad in your app it needs to have major traffic. If you have a good number of users them, you have major traffic and having major traffic means a lot of companies would want to place ads with you. Since they want to reach a wider audience which you possess.
Ads are a good means of constant pay. They are as profitable as normal adverts.
Melissa Crooks is Content Writer who writes for Hyperlink Infosystem, a mobile app development company that holds the best team of skilled and expert Indian app developers. She is a versatile tech writer and loves exploring latest technology trends, entrepreneur and startup column.