The app development industry is growing and flourishing each day. There is no denying that every day some new apps come up. Whether it is Android or iOS platform every app is doing great in the market. Now comes the most crucial question that is, do these apps help you to earn money?
Yes, app developers and owners earn millions of dollars. Some apps have the potential to make you grow rich in a day. But not every app earn the same amount of money. It depends on different aspects and factors as well. How well your app will be doing in the market, the download numbers, and all these factors matters?
This article we are going to talk about how much earning from an app is possible? Here, we will discuss different aspects of building an app and how it can help you earn money and huge profits.
So, if you are excited about launching your app, this article will help you out by giving you a rough idea about how much earning is possible from an app. So let's get into the topic without any further delay.
What is an app?
Before understanding about the earning, let's first understand what an app is?
In simple terms, an app is software that runs on a mobile smartphone and different platforms. An app is a software program which can be easily operated on a mobile device or using the internet.
You need to download the app from Apple store or Google store and then enjoy the various benefits of these apps. Some of the best examples of apps are PUBG, TikTok, Instagram, Snapchat, Amazon, calendar, calculator, and many more.
Factors to consider before developing an app
To your surprise, there are approximately 3 million apps on both Google store and Apple store. And many new apps are going to hit the market soon. There is no doubt that it's a tough competition in the app market.
There are many app developers, but only a few can earn a fair amount of money. It has repeatedly raised the question "do apps make money?"
You need to understand that you need to consider various factors before developing an app and analyse the market well. There is no point in developing the same app that already exists in the market. Your idea should be unique, and your app should have a purpose.
Here are a few things that you need to consider before developing an app:
- Purpose of the app
The purpose of your app plays a quintessential role in determining how much you are going to earn from the app. Your app should be able to target the right audience and grab their attention. For instance, Instagram gained immense popularity; it helps people to connect. Amazon was another massive success because it offered a platform for people to shop online. Uber is yet another app which has solved our day-to-day problem of travelling.
Similarly, your app should be able to solve people's problems, and it will turn out to be a huge success. You need to understand the market and the need of the customer in the current scenario. Once you find the answer to this question, you will automatically develop a unique idea for your app.
- Hit the right Target audience
Another critical factor is the target audience. Your app should hit the audience you want to target. If you are building an app for kids, then make sure it should have some colours and features that attract kids. If you are building an app for business class, you can use monetise action strategy.
You need to understand your target audience before developing any app.
- Competitors to compete
Every industry has a competitive brand. So you must understand who your potential competitors are. For example, foodpanda was the first app to develop this idea of food delivery, but soon Zomato ruled the market and foodpanda had to shut down.
Similarly, understand your competitors' loopholes like, what they cannot serve to give their customers, the service your competitor cannot provide, which will help your app grow.
- The tech game
People are becoming more tech-savvy each day, and they demand a better experience. Your app should be able to provide your customers a better experience. You need to stay updated with the kind of technology and build your app accordingly.
If you are planning to develop an app like Uber, then keep this thing in mind that Uber already has a loyal-customer base, so you need to add some X factor to your app that attracts customers and in this technology will help you.
Artificial intelligence technology has developed a scope in the market currently. So stay updated that what is happening in the tech world. If you use a traditional app development method, it will generate lesser revenue compared to an app built using blockchain technology.
Strategies to earn from your app
There are many strategies to monetize your app, so you need to decide which model suits you the best here we are listing some types of mobile app monetization strategies that are surely going to help you:
- In-app advertisement
Many apps are free to download and use, but still, many developers earn money by the advertisement displayed. For instance, YouTube is free to use and download, but you see many advertisements displayed while your video runs. It is called in-app advertisement. This app helps to earn huge profits.
- Subscription model
It is another excellent strategy to monetize your app. Here the app asks weekly user fees to use that app. The most famous examples of this kind of model are Spotify, Netflix, Amazon Prime, ALTBalaji. It is very tough to generate income through subscription model; only a few successful app developers can earn money through this model.
- Crowdfunding
Crowdfunding is one of the highest ways to monetize your app for free. In this model, you exchange an idea on platforms like Kickstarter to raises funds and marketing. Milaap is the best example of crowdfunding. They are selling merchandise to customers.
- Merchandising the products using app
Merchandising is another innovative approach that helps you to earn money from your app. Any E-Commerce platform prefers to sell their goods and services directly through an app or email marketing.
The best example of this model is Amazon. Different sellers sell their products to customers using Amazon platform. By uploading product and seller by the Amazon platform's product to attract more customers, Amazon gives regular discounts and vouchers to customers.
How much money from an app is possible?
Launching an app on a Google store is not as easy as you think. It is quite a challenging task to get a sufficient number of downloads. Many app developers cannot generate income as they might have thought before launching the Google app.
Initially, Google has more than 1,50,000 developers across the world. Developers have to pay a set fee of $25 to Google to use their platform to launch an app.
If we talk about free apps launched by developers of Google platform, then, keep in mind that the revenue for such apps is relatively low. If you are launching free apps, you can monetise those apps to increase your revenue and several downloads.
The paid apps launched by Google play store get listed on Google play store it also depends on the efficiency of the app and how many users are willing to download the app.
The Mobile App Development industry is proliferating and has a lot of potential in the future.
Does Google pay you per download?
Google pays you per download of any Android by taking 30% of the revenue made from your Android app and giving the rest 70% to the app developer who has developed that app.
How much Apple per download?
Similarly, Apple pays per downloadof any Apple store by taking 30% of the revenue made on any Apple app downloaded and giving the rest 70% to the developers who have developed the app.
It is tough to say how much money an app earns as this number varies from app to app and popularity of the app. For instance, top 200 apps make approximately $82,500 per day while top 800 generate approximately $3,500 per day. Similarly, gaming app earn $22,250 per day while entertainment apps earn around $3090 daily.
How to make your app attractive?
Now, comes another important question that is how to make your app attractive. So, here we are going to share some ideas on how to make your app attractive.
Making your app attractive is vital to make it stand out of the crowd. There are so many apps existing in the market, so you need to make your App look attractive.
- Focus on an ASO App Store Optimisation
It helps the user to find, click, and download your App easily through the app store. It works similar SEO; that is, it focuses on keyword and conversion rate Optimisation. The factors that affect your ASO are the number of downloads and user views.
To optimize your App, follow the following steps.
- Make your App creative and title easily understandable. For example, when you hear about Uber, the first thing that comes to your mind is the car. People should easily recognize your App with its name. So, always make the title of your App is easy creative, and relatable for the customers.
- The next step is to add a short description using the right keyword. These keywords will help users to locate your App quickly. Along with his, there is a separate section to add keywords. Think about the keywords customers will search in your tab to connect to your app easily.
- Always keep in mind that reviews of your customer affect the app position in the search result. So it would help if there are more download and significant positive reviews from the buyers or people who are using your App.
- Try to go for some attractive visuals to make your App look more entertaining and exciting. No one wants a tacky App on their phone. So, always focus on the background icon and design your App. Your icon should be able to signify the purpose of your App.
For example, when you say WhatsApp, the first thing that comes to your mind is a phone call I can't, indicating that it helps you stay connected with your loved ones.
- Please choose the right category on which you are building your app. Be it a book, entertainment, business, education, and lifestyle, have a clear perspective and how this particular app will tough competition in the market. The gaming category has a vast scope in the market and is one of the highest-paid jobs.
- Promotion of your App
Your prime focus is to make the users download your app. So, you need to promote your app on different platforms. You need to create the hype of social media and various other platforms. You can use various social media platforms like Instagram, Facebook, Snapchat, or document your entire joining and uploaded it on YouTube. Apps like candy crush and Spotify use Twitter and Instagram to grab attention.
If you have a budget, you can organize a Press Conference or go for a press release. This press release will help journalists to write about your app if they find it worthy.
- Email marketing
Many of you might not be aware that marketing is one of the best ways to Grab an audience and subscribers to download your app in email.
You can create a small in describing your app to the users around the world.
- Paid advertisement
If you have enough budgets to spend then, paid apps are another great way to advertise your app.
These were some of the ways with which you can promote your app to the users.
- Physical appearance
No doubt app development has a bright future in the coming years. Many app developers are earning huge profits, and some are on their way to on big profits. But there is no denying that augmented reality, artificial intelligence and virtual reality are the future trends. There are endless possibilities of developing an app and earning money out of them. Gaming apps are earning millions of profit in comparison to any other apps.
So if you have an idea in your mind or are on the verge of developing an idea, keep these factors in mind.
Hope this article helped you out!
Best of luck!
Why Omninos solution a perfect choice for app developments?
Ominous solution is a perfect place for anyone who is looking for a digital platform service. It is one of the best web development and designing company. It known the how the industry has evolved and what are the current needs and demands of the clients.
It has worked on more than 500 projects. It has the following service:
- Web designing
- Web hosting
- Android Development
- Ios development
- Website development
- iPad development
- It consultant service
It has a team of expert and experienced team members to guide you about the app development process. It helps you to launch, develop and execute an app. It knows the demands of the customers and tries to fulfil those demands.
Omninos solution is perfect place for android app development. This name is quite famous world-wide for its premium quality work.
Frequently asked questions
- How much you can earn from an app?
An average salary of an app developer from an android platform is $97.6K. While the salary for an ios app developer is 96.6K per annum.
- How apps help you to earn money?
You can earn money through various methods like ad subscription, merchandising, sponsorship, advertisements, subscriptions and many more.
- Can app make you rich in one day?
No, app cannot make you rich in one day. Yes, it can definitely help you to make huge profits. You need to work really hard to make your app a huge success. The idea of your app also determines the success rate for instance, candy crush, tik tok, Pubg are some of the most downloaded and loved apps.
- How hard is it to develop an app?
It is not too difficult to build an app; you need to have clear understanding of app development process. Give attention to details like logo design, font, background, purpose of your app. Your app idea should be unique so thatit stand out of the crowd. Get detailed knowledge about coding, designing, and graphics.
- What is the approximate cost of hosting an app?
The approximate cost of hosting an app is in between $50,000 and $1,000,000 for half or complete year.
- Name the riches app developer?
The richest app developer is Nick D'Aloisio, who is quite famous as an internet entrepreneur. He is known for his app Summly, which is an artificial intelligence technology.
- Will you be able to earn money using free apps?
You can earn money using free apps through advertisements, sponsorships and referral marketing.
- How much money Google pays for downloading an Android app?
Google generally takes 30% of the revenue generated from the app and rest 70% is given to the Android app developer.
- How much money Apple pays for downloading an ios app?
Apple takes 30% of the revenue generated from the app and rest 70% revenue generated from the app is given to the app developer.
