Alike in former years, the mobile app businesses continue to grow even stronger in the year 2020, and many reasons are backing this fact. An amusing combination of impactful app, an amazing monetization model, and precise planning can help you get to a custom entry to the count of apps making huge money.
It is generally considered by the people who don’t know much about the market that only giant companies like Facebook, Instagram, and Google make money in apps, but the truth is new apps are also getting massive outbreaks in the market. To be one of them, foremost your app should be highly engaging. An interactive app has the ability to bring new users and keep them.
Once you have an app that can attract users then there are two ways you can make money through it.
Ad Revenue
Ad Revenue had always been the top priority of the app owners to monetize the app as it is the most successful strategy. When it comes to apps ad revenue bring the most amount of money to the business. Google AdSense or Google AdMob makes the job much simpler for all. They read the text and other content on your app to place the most relevant ads and pay you in return.
In-App purchases and Subscription
Subscription feature actives your app to make a continual flow in the revenue after the completion of a cycle whereas in-purchase doesn’t bring the steady revenue, but overall monthly transaction rows bring a lot for the business. How you can put these features in your app depends upon the kind of services you offer.
These are most general practice followed by many for monetizing and making money in large amount. It is also important to consider that success of these methods upon the number of users your app encounters. So for successful monetization an app need to be engaging to attract users.