Android apps can be tricky to monetize. Even so, there are a select few types of applications that qualify as the best money earning apps.
Your app does not have to be a paid product on the Google Play Store for you to make money. There are a million ways for you to create your Android application and turn it into a cash cow.
You do not need to be the next great app developer. There is a large chance that you’re just hoping to earn some passive income. No matter the case, these different money-making Android apps can help you reach your goals.
How to make money with your Android Apps
You want to create an Android app that makes you money. Even though the Google Play Store has no shortage of applications, there are still many ways you can accomplish this. You do not need to fear competition. As long as your android app or apps has something to share with the world, it can earn you money. It is simply a matter of finding your correct market. Once you do, you will be able to turn it into one of the best money making apps around.
There are a number of different ways to monetise mobile app development and you should have a clear plan for how your Android app will generate the income that will provide a return on investment.
1. Create a paid app
It’s no surprise that paid apps are some of the best apps to make money with, but there’s a catch. Mobile app users are far less likely to give paid applications the time of day. The overwhelming majority of Android apps are free upon download, which seems far more appealing on a surface level.
This does not mean that paid apps are not a viable option for making money. There are benefits despite a potentially small market:
- Less competition. It is far easier to position yourself at the top of the paid app store than the free app store.
- Reliable money. Paid Android apps will make you money for every download whether users actually use it or not.
- A dedicated user base. If someone spent the cash on your app, they must have thought it was worth it. You can directly interact with your user base via specialty offers.
Paid apps, despite their flaws, are still some of the best apps that can make you money from. In fact, it may be one of the easier business models to accomplish. The money earning opportunities come with every purchase, and that is all you have to worry about.
2. The subscription model
In reality, services such as Netflix also operate as Android apps. You may think this is a minor market, but there is a surprising truth for you to learn:
- 10% of Netflix users spend the majority of their watch time using the mobile application.
- On top of that, 30% of users sign up for the service through the downloadable app.
Sure, this is the service that basically popularized subscriptions altogether, but you can still get a piece of that pie.
Subscription apps are some of the best apps to make money through, there is no doubt about that. These Android apps often provide a certain service for a free limited time, before requiring that users subscribe. This method is relatively foolproof, hooking your users in before charging them for what they want to keep.
The recurring revenue attached to subscription applications makes them one of the top money earning apps. If you are confident that your service will retain a dedicated user base, this may be the app type for you.
3. Advertising
When it comes to the best apps to make money with, free advertisement apps cannot be ignored. These Android apps have been around since the inception of smartphones. It is the most common type of app that you can find on the Google Play Store. This is because of just how easy it is to implement advertising into your app.
There are many types of ads that you can use within your application, making it important to find your favourite.
- Banner ads. Advertisements that are displayed constantly at the top of bottom of your app. They do not interfere with the app’s main functions.
- Interstitial ads. These ads appear during certain intervals while a user is using your app. They cover the entire screen, forcing the user to close the ad to continue using the app.
- Video ads. A video will appear, often offering a reward within the app. If a user watches the entire advertisement, they will gain incentive to keep using your app.
In order for Android apps to succeed, they often have to successfully identify the best advertising choice for them. In order for you to have an app that makes you money, you will have to do the same. It is important to correctly choose an advertising model your app’s audience responds well to. Otherwise, you may drive them away, ultimately losing you money.
4. The freemium upsell
Freemium apps are Android apps that can be entirely free to use. In order for this to be one of the best apps to make money off of, users will have to purchase a complete version.
This type of application initially starts by being an advertising ad. The app provides a certain service, which is obstructed by advertisements that users may want to remove. If that is the case, users are given the option to remove advertisements by purchasing the app.
You, the app creator, have now created a business model reliant upon the quality of your app. If a user likes your service, they will purchase it. A major flaw in the freemium design is that users can easily abandon your app. They can simply use your free service and decide they do not want the whole experience. This makes freemium upsell Android apps one of the great money earning apps, but you need to be careful. A fantastic design alongside tremendous services is integral to succeed with this app model.
5. In-app purchases
In-app purchases are another highly successful choice for making money through applications. This model is typically found within app games such as Candy Crush Saga.
If you have managed to create a highly addictive mobile game, this is definitely the service for you. Creators of Android apps often implement time restrictions within their games. This incentivizes players to spend money to bypass this barrier to entry. In doing so, they make an in-app purchase that they will surely make more than once.
Another way to go about this is by offering in-game services in exchange for real-world money. For example, skins for virtual characters are often sold within mobile games to much success.
Overall, this app model has created some of the highest grossing apps in history. If a game manages to retain a user base for a long time, you can capitalize on that via in-app purchases.
The top money earning Android apps
If you want to monetize any of your Android apps, you have options. There is no singular best app to make money off of, but there are many options for you to choose from. The best app that can make you money is the one that you already have. In order to achieve the goal you desire, you just need to choose the best monetization model for you. If your app is a game, in-app purchases may be the way to go. If your app is a longstanding service, perhaps the subscription model would be best for you. Either way, if you implement any of these options correctly, your app will quickly begin making you money.