Jan 6, 20223 min read

Top 5 Ways to Monetize Your Android App

Monetizing your mobile app is one of the essential parts of its journey. When you’re initially designing an app, monetization might not be at the forefront of your mind – who needs to think about charging money when they’re still busy conceptualizing their next big idea? Before you know it, you’ve got users flocking to your service, and you need to keep on top of things – if only so the shop doesn’t run out of stock.

But there are so many ways to drive revenue from an app, some more obvious than others. Here’s five that will help you turn your app into a cash-generating machine

In-app Advertising

Letting people pay for extra features or content within your app might work okay, but it’s not going to get rich overnight. Why not supplement this revenue by introducing ads into your app? This is an exceptionally sensible option for companies that already have a popular desktop website – an advertisement on the mobile version of their site might not do much harm, and it could be incredibly lucrative.

If you’re going to opt for in-app advertising, bear in mind that it’s got to add value to your app – if users don’t like the idea of it, they won’t want to use your app. And you’ve also got to think carefully about ad placement. There’s nothing worse than downloading a new game and then finding that the only way you can play it is by waiting five minutes for an advert to load before you can press ‘play’.

Using Your App As A Platform

This one works particularly well if you’re trying to sell a service – rather than a product. If you’re offering, say, an email marketing solution for small businesses, don’t try and convince people that they need it on their phone as well as their computer. Instead, focus on the app’s functionality – make it worthwhile even without an internet connection, and provide a smooth user experience. But you might find that this strategy works better on some platforms than on others – if your app caters to workaholics who don’t ever want to stop using their phone, then building it as an extension of your desktop website might be the way to go.

Sell Ad Space

If you’re going to opt for in-app advertising, bear in mind that it’s got to add value to your app – if users don’t like the idea of it, they won’t want to use your app. There’s nothing worse than downloading a new game and then finding that the only way you can play it is by waiting five minutes for an advert to load before you can press ‘play’.

Form Alliances

It is worth keeping more than one string to your bow – striking agreements with other companies may allow you to generate revenue through several sources. You could, for example, partner up with an app development company to create more sales of your premium features – or you could make money by way of referrals. If another company doesn’t have the resources to develop their apps, you might be able to set them up with some deal that means they earn some cash every time someone downloads one of your apps.

Promote Affiliate Products

This is a good way for other sites to generate revenue from visitors – but it could work well even if you’re looking for different ways to monetize your app. Not everyone who uses your app will have been drawn in by the content that you’ve provided. If you’ve got links to an online store, say, why not set up some commission system where any sales resulting from your app are put straight in your pocket?

Conclusion:

It’s key to remember, though, that none of the five methods to monetize your app is quick fixes. You might have to spend some time building up a reputation before you start using your app as a platform, for example, let alone making money on it – but if you’re prepared to put in the effort, there are some great rewards on offer.

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