If you are looking for ways to make extra money on the side, you’ve probably considered doing one of the following:
- Trying your hand at freelance writing
- Selling and buying items on Ebay
- Taking a survey
- Applying for a loan
While these are all legitimate ways to make money online, there is another route you may want to explore.
The secret is in the application. You see, when you develop an app for iOS or Android, you not only get to release it to the public, but you can begin to monetize it right away.
Not only that, but since Apple and Google both allow for in-app purchases, you can even customize your product and sell it to people within the app itself! So, in this article, we’ll tell you exactly how you can make money online with a mobile app, step-by-step.
The Difference between Mobile Apps and Web Sites
Before we get started, it’s important to note the difference between mobile apps and web sites. A mobile app is software downloaded to a smartphone or other mobile device, such as an iPad, to provide functionality for the device. Apps vary from very simple to very complex, depending on the features implemented by the developer.
A web site functions similarly, except it’s accessible from any device with an internet connection, such as your home computer or mobile device. Your web browser opens up to a blank slate, with all the data you need already loaded. You don’t have to worry about finding a WiFi connection or the internet being down at the moment. Just load up your web site and get to work!
Monetizing a Mobile App
When you develop a mobile app, the first thing you do is register a domain name for your app’s website (more on this later). Let’s say your app’s name is FoodTrialist and you’ve registered the foodtrialist.com domain. Next, you need to set up a simple home page for your web site. On this page, you can include a brief description of your app, as well as download links and other necessary information.
Then, you can either use a service like GoDaddy to handle your hosting needs, or you can install a free app like Square Space that provides basic hosting needs. Lastly, you will need to purchase a premium account to create advertisements for your app. You will need to decide how you want to monetize your app. Do you want to use ads? Or maybe a freemium model, where users can access some functionality for free, but there is a fee to use all the app’s features?
Once you’ve got all these preliminary steps taken care of, it’s time to start developing your app. Using a tool like Xcode, you can create an iOS app or Android app, depending on which platform you prefer.
The Three Main Ways to Earn Money With a Mobile App
The main ways to monetize a mobile app are:
- In-App Purchasing
Each of these will be discussed in more detail below.
Monetizing with Advertising
Advertising, or showing ads within your app, provides you with an income stream right away. When users download your app and see ads within it, they will be more likely to purchase whatever is being advertised. Simply put, if you can get someone to click on an ad within your app, you can potentially make money from that click-through.
Let’s say you’re producing a cooking app and you decide you want to advertise for a recipe blog. When someone downloads your app and clicks on the ad, they will be directed to a page with a link to the recipe blog. If that person decides to make the recipe and buys the necessary ingredients, you will earn a small commission.
This is one of the simplest ways to make money with a mobile app. You don’t have to do anything special to get the ad to appear, and you don’t need to install any special code to earn money from the ad. Simply put, all you need is a browser and an ad-reading app (such as AdBlock) installed on your device.
Monetizing With In-App Purchasing
In-app purchasing, or the purchase of items within your app, is another way to generate revenue. If you’re developing an iOS app, you can use Apple’s in-app purchase feature to implement a pricing model where users can pay to remove ads or gain access to premium features. Let’s say your app is free, but if users want to remove all the ads, they will have to pay $1.99 in-app.
You can also use Google’s Play in-app purchase feature in Android apps. Essentially, this allows for users to purchase virtual goods within your app, such as coins, upgrades, or special characters. These items can then be used to advance the story or increase the fun factor of your game. It’s a quick and easy way to get some extra cash without too much effort.
This option requires a bit more work up-front, but it’s a more reliable source of income than advertising. You can use a service like Google Play’s Console to gain insight into how people are using your app and how much money they are spending while doing so. With this information, you can determine the effectiveness of your in-app purchase model and whether or not you should keep adding more features.
Achievements, or awards, can also be a way to generate revenue for your app. If your app enables users to earn achievements, such as reaching a certain level or finding all the items in a level, you can use a service like Earnest to track your user’s progress and allow them to share their achievements on social media sites like Twitter and Facebook.
You may choose to add achievements and rewards for reaching certain milestones, such as completing a level or earning a certain number of dollars. When a user earns an achievement in your app, you can notify them on the site of our discussion and allow them to share the news. Not only will this generate a small source of income, but it will also allow you to track user behavior within your app.
Hopefully, this article has helped you discover a lucrative side-hustle that allows you to make money online. With a little bit of effort, you can definitely make a steady stream of income from a mobile app. If this sounds intriguing, don’t hesitate to try out one of the many apps available on the App Store or Google Play market. You may just find that it is the best way to make extra money.