The best way to monetize Android apps
The Paid App Model
If you are considering making your app available only in paid version, the app you create should provide enough value or unique functionality that's hard to find elsewhere.
Advertising is probably the most common way to monetize a free app. The idea is that you offer your app for free and display adverts in the app to generate income.
Here are some of the most popular types of ads you can use to monetize your Android app:
Banner Ads: Banner ads are usually at the top or bottom of a website or vertically along the side of a website, next to the main content. A great banner ad grabs the user's attention and invites them to learn more about what's being advertised.
Interstitial Ads: These well-designed ads are displayed on the full-screen of mobile devices. Users usually have to watch the ad for some time. During this time, users can either close the ad or check out the promoted content.
Native Ads: Unlike banner ads, native ads don't really look like ads. Native ads match the look, feel, and function of the media format in which they appear. Native ads are becoming more popular these days because they usually don't affect the user experience.
Affiliate Ads: Affiliate ads allow apps to generate commission from other apps, products, and services by advertising them through your app. If users trust the source, then this method can be quite useful in converting.
Reward Ads: Reward ads are mostly popular in mobile game apps. The users are offered a reward to engage with the content.
Subscription is another popular mobile app monetization model. It offers users a very basic, slimmed-down version of the app. The user can download the app for free, but to get access to the rest of their services, the user will have to pay a certain amount.
This model is often used for cloud services, audio and video streaming, and online news services.
Apps with in-app purchases generate the highest revenue for their publishers. This monetization model is the leading source of revenues for the majority of mobile gaming genres. Apps generate money by selling virtual or physical goods from within the app.
Collecting and Selling Data
Wondering how to make money with a free app? Consider collecting and selling user data. Accessing user data is becoming increasingly important for marketers, agencies, and all sorts of businesses. You can track what users do and sell users' behavior data to outside companies and researchers.
Also read: How do Free Apps Make Money? [Best Strategies for 2021] (https://addevice.io/