Android is now the best-known open-source operating system for mobile gadgets, and it offers a whole lot of possibilities for developers. Since most Android users prefer downloading free applications, it seems that the chances of making a profit here is not that high. However, this platform offers an array of options you can use to monetize your product. Below, we try to sort out how to earn money from an Android app and how much you can earn.
Getting started
It seems obvious that before getting down to building an app, you need to do some research and decide what is the purpose of your work. Naturally, if the application is intended for e-commerce or trading, the strategies here are rather straightforward. You sell a product, or a service, you advertise your platform, you get your profit.
The situation is a bit different if you intend to develop a utility app or a gaming application. Here you need to think about how to monetize the app in some other way. Even with the best product on the market and the highest number of downloads, you are not guaranteed the revenue you’d hope for and it is advisable to look into certain ways of how to make money from android app. The most popular strategies here are:
- affiliate links
- sponsorship
- in-app purchases
- in-app advertising
Affiliate links and Sponsorship
The words speak for themselves. You find a company or a brand that is willing to support your app. This way you have the chance to control the content that is going to be shown on your media. However, first you need to proceed with a thorough research of your target audience, and find a brand with a similar audience. You must be 100% sure that your users will be satisfied with the content you offer them, otherwise, there is a chance that your statistics is going to decline. Another point is that you will need to reach potential partners yourself and try to persuade them to engage with your product.
In-app Purchases
This is also a rather straightforward solution widely used in gaming applications. When offering the users a range of ready-installed features, you can also suggest buying extra “perks” or extended options. This way the players have the choice whether to keep progressing slowly, or to pay and win/reach the goal faster.
In-app Advertising
This is, actually, one of the most feasible and achievable ways you might want to consider when thinking about how to earn money on your Android app. The idea is very simple - you offer your inventory (ad space) on a special platform, and the AI based technology sells it to the advertiser offering the best price. It all looks like an auction, with the only difference that the whole process takes a fraction of a second. Asgard is employing the cutting-edge SSP (Supply Side Platform) run by the latest algorithms.
How much can you earn from an Android app?
The answer to this question can be found in statistical data which can easily be found in open sources. According to fuelled.com top 200 apps are making about 82 000 USD daily, though the numbers are lower for the top 800 applications - about 3500 USD. Gaming and entertainment apps are among the leaders, whereas educational and informational products do not attract that much profit. Tekrevol.com makes a bold prediction that by the end of 2022 the global mobile app revenues will almost double and make about 188 billion USD. Thus, whatever way to monetize your app you will go for, it is really worth trying, and who knows, your newest product may land among those 200 top-earning apps.
