The domain of Mobile App Development is capable of generating incomes exceeding millions and even billions of dollars.
Post your dedication to develop the best mobile app as per your vision, it is time to contemplate how to make the application repay you via profits for your hard work.
Seeing that both the Google PlayStore and the Apple App Store feature over 3 million applications, carry out the work with utmost care to create an app that is meant to generate income that well.
Let’s have a word on how exactly the payment cycle work is happening in the Play Store.
Apple App Store:
Here the payments are credited within 45 days from the final business day of the given month when the app purchases actually happened. To get credited with the amounts the prerequisites include that you have to provide all the relevant documentation and as well keep up with the minimum payment level as well.
Google Play Store:
Here all the money generated by your paid Android Apps is credited in a span of 30 days. What’s more? there is no minimum amount with respect to how much you must actually get paid. The profit is split into a 70:30 ratio.
Prospects related to Profits which the Android and iOS apps actually generate:
Now that there was a word on the payment policies incorporated in the Play Stores now let’s see how the apps are booming in terms of profits.
Last year the total revenue generated by apps alone augmented by 35% to come to a massive figure of 60 Billion Dollars as per the reliable firm Sensor.
Clearly, as per the report, it is Apple that is leading the race in this war. As based on the time factors between the last 2 years, Google Play Store and that of Apple registered boost in profits by 34.2% and 34.7%. However to be noted was that app download metrics gave a different insight where for Play Store it was only 16.7% and for Apple App Store it was a mere 6.7%
Income generated by Applications:
With all that aforementioned facts and information in mind, let’s come to the main question which this article seeks to answer.
Some questions to be considered here are-
The Platform to get your app built on:
The app platform can also boost your profits that you want to ultimately get. In this case, it is Apple who is the clear winner.
Whether your App features an In-App Purchase option?
This aspect is prevalent in the cases of Gaming oriented mobile apps and is quite a money generator for the aspiring mobile app developers.
Contemplating the thought of requesting brands to promote their advertisements on your Mobile App:
This phenomenon that is In-App Advertising is also effective to guarantee you profits via your mobile app.
Take the event where a deal is finalized between you and another brand via a given Click Per View Agreement. Even if the basic charge for an ad is a mere .01 dollars you can rake in money in excess of 100$ at least for every 10,000 users who visit your app on a daily basis.
Adherence to a Subscription Model:
Speaking of this Subscription Model, take the case of Tinder which features a 9.99$ plan on a monthly basis for Tinder Plus subscription and for the more advanced Tinder Gold subscription it is 14.99 $. This strategy has gained profits for Tinder in the excess of 285 million dollars. This strategy is soon gaining prominence among other conglomerates as well.
The underlying point is that if your app offers great value to your users then they won’t mind spending money every month and even for years as well.
Contemplating the thought whether the App of yours is restricted only to Mobile:
If contemplating Hybrid app development, it ensures smooth functioning on an assortment of devices and thereby more revenue is generated over the case where you consider only going for mobile. Seeing how prevalent Smart TVs are with respect to the App Store user base, even more, visibility is generated for your app and so is the income as well.
Another thing that merits attention is the fact that there should be a good mutual understanding between you and your mobile app development company when it comes to the aspect of Monetization for your application.
In conclusion, there are virtually lots of ways to earn profits via apps launched on to Stores. See which is the best fit in an innovative way.
Pyramidion Solutions is a Mobile App Development Company based in Chennai, which knows how important it is for an enterprise to embrace a mobile app into its functionality so as to enhance its reputation as one of the pioneers in the market. Having emphasized how vital Mobile App development is important nowadays and renowned for exceptional services in that domain, it also offers its services in what exactly will be the right fit for you to generate huge amounts of money via a mobile app