Making money online from creating mobile apps is one of the best way in creating a steady flow of income. Free apps with ads is the game. The dominance of free apps will continue. Fortunately, there are numerous free app business models that have been proved to work.
To promote and get installs on your your free mobile apps, you need to get free traffic from these sites.
The following are the top 20 most popular apps in terms of traffic:
Google\sFacebook\sYouTube\sBaidu
Yahoo\sAmazon
Wikipedia\sQQ\sTaobao
Google India is a search engine that is used in
www.live.com
Sina
LinkedIn\sWeibo
Yahoo Japan is a search engine that allows you to
Google Japan is a search engine in Japan.
eBay
Yandex
Blogspot
For general users, 17 of the 20 are absolutely free. The others (Taobao, eBay, and Amazon) are transaction-based markets.
Going free is the only way to get to the top in our attention economy. If you start charging users, you'll notice a significant drop in your growth and, as a result, the amount of attention your product receives.
When was the last time you spent money on a mobile app?
Consumers are willing to pay for some essential apps, such as Netflix or TurboTax, on occasion, but they increasingly expect apps to be free and ignore costly apps.
Chris Anderson's Free, The Future of a Radical Price of the Future, which is also available in audiobook format, is a good place to start learning more about this new phenomena.
So, how can you make money off of a free app?
The traditional approach of monetizing attention is to sell advertisements. However, most of these top sites, such as LinkedIn, have gone much beyond this. Only approximately a quarter of their earnings comes from advertisements. Recruiting solutions account for more than half of it.
When you consider it, there are a plethora of ways you can make money, the most of which have already been proven in an area comparable to yours.
For example, our open source initiative (Free Code Camp) will always be free for our developers and the NGOs that our developers provide pro bono coding services to.
We will never sell the information about our pupils to anyone. But that doesn't rule out the possibility of profit. In fact, we're looking into a variety of revenue streams, including:
Offering our product as a white-labeled hosted eLearning solution for organizations' ongoing professional development.
As paid employees, we are running development consultancies with our recent grads.
Providing organizations with LinkedIn-style talent solutions
Stack Overflow-style reputation-based employment boards are available.
Offering a service similar to AirPair for customers in need of on-demand development knowledge at a low price.
B2D (business-to-developer) product firms are being charged for distributing or evangelizing their products to our developers (this would be done in a transparent manner)
The agency-product approach, in which we test our own in-house produced apps and APIs before making them available to commercial customers.
These are only a few of the many business model alternatives that are open to us. Some combination of these will generate sufficient funds to support our quick expansion.
We can also afford to experiment. Markets are forgiving of monetization gaffes if you've established yourself as a major player in the attention economy.
However, thinking is difficult. Many business owners despise having to think. Instead, they simply charge their customers. In the vast majority of situations, this is a mistake caused by the entrepreneur's lack of vision.
If you only think about producing money in the near term, you'll hurt your long-term growth possibilities.
Charging your users is the simplest thing in the world. Serious entrepreneurs, on the other hand, create free apps that are focused on growth, then come up with new ways to monetize the attention that are relevant to their customers' interests.
What do you think? Your opinions are welcome. Please share this post.