It is no secret that the majority of applications on the App Store are free, still, their makers manage to make a good profit on them. The whole idea of making money on something free seems surprising, however, there are a lot of strategies to earn money on iOS apps and here we are going to have a look at the most feasible ones.
Free vs Paid Models
Well, making your product paid seems a good idea at first, but, under deeper inspection, there are a lot of twists and turns. You need to be sure that the quality and the demand for your app are worth making the users pay for its content. Secondly, you need to understand - there is always a limit to the number of people willing to pay. Making your app free of charge is, on the other hand, a great way to raise awareness about the application and attract lots of organic audiences. Still, if your aim is not only to provide some content for free but also get revenue, you need to think about how to earn money from your iOS app without causing any inconvenience to the users.
Advertising within an iOS app
In-app advertising is a long-established and well-working strategy. According to the information provided by eMarketer, spending on mobile inventory makes up about a third of the whole online advertising budget, and it is expected to grow up to almost a half by the end of 2022. If we look at the time spent by average users watching mobile ads - it sums up to impressive 23 days per year (data from mobilestatistics.com). These numbers give you a hint on how much you can earn from your iOS app - quite a lot, if you put enough effort
What to look for
Having decided on applying ads within your app, you come to the point where you need to make a decision regarding the platform that will take care of your inventory. Luckily, it does not require you to go around and offer your space. Leading companies, such as Adsgard offer you a fully automated SSP (Supply Side Platform) that chooses the best advertiser within less than a second. The whole process can be broken down into the following stages:
- The mobile inventory comes up;
- The platform gets the information on the available space and runs the real-time bidding process;
- The advertiser with the best price wins and gets to show their ad on your iOS app.
It all seems rather straightforward and, in fact, it is. The huge advantage of this technology is that it reduces any chance of human interference and both the advertiser and the app owner get the best possible solution for their needs.
Another significant point here is that you do not only get to make money from your app, but you also have the chance to offer your audience the most suitable ads. The technology employed by Adsgard allows the maximum possible targeting so that you can be sure that your users will not be put off by ads that are irrelevant to them. On the contrary, well-chosen content might urge people to keep using your product, which, in turn, will lead to increased income.
And, finally, if you are still in doubt whether to go for our services, here are some numbers that illustrate how much you can earn from an iOS app. According to ironSource (is.com) the average cost of an impression is about 0.01 USD (in the US), whereas the revenue for completion is about 0.16 USD. Taking into account that the global in-app advertising budget is estimated to reach about 336 billion USD in 2022 (spaceotechnologies.com), we can safely claim that your share is somewhere there and this is the app monetization strategy well worth trying.