Learn How Free Apps Make Money!!!

How Do Free Apps Make Money

Mobile apps are now one of the major sources of income and communication for every type of businesses. If you don’t have a mobile app till now, then you must be baffling with how to make it and how to monetize it.

Do you worry fellas, we’ve got you covered.

By the means of this post, we will provide you every single detail about how you can monetize a free app and generate crucial revenue for your business.

However, before we dwell any deeper, you should know how businesses made money in the past with free mobile apps without ads or with just an app idea.

You might be wondering what you will get from this post. Kindly have a look in this section and you will have an idea what you will learn here from this post.

Create an app for free and make money

There are some strategies which other enterprises follow to earn money from their free mobile app. Let’s have a brief look at them.

  • Advertising
  • Email marketing campaigns
  • Subscription methodology
  • Sponsored content
  • In-app purchases
  • Upselling freemium content
  • Amazon Underground
  • Collecting and Selling data
  • Affiliate income

Tools you can use to monetize free apps:

  • In-app advertising tools
  • In-app advertising for mobile game
  • The Freemium model of app monetization
  • In-app video advertising

See, there are ample of tools which can be used to monetize your free mobile app. So, without any further ado, let’s get you started…

The App Market Overview

The App Market Overview

The market as you can see is hot!!! Very hot indeed, currently the market is flooded with apps whether it is in the Android app market or in the iOS app market. The experts believe that by 2020 the amount will be doubled. So by now if you don’t have a mobile app, you better start looking for one before your business is left behind.

Paid Apps VS Free Apps

Paid Apps VS Free Apps

You can clearly see here in these graphs that over 90% of mobile apps in the market are free of cost. In the coming years, the figure is expected to increase even more. Here is another stat that shows how free apps and paid apps are collecting revenue in recent years.

free-paid

As you can see the market for paid apps is still below the revenue generated by the free apps in the market. It is quite clear that how you can make money even from a free mobile app. There is a report of Gartner which suggested that customers spend 24% more when it comes to in-app purchases rather than purchasing an entire app.

So, these stats clearly show that free mobile apps have the potential to generate more revenue than that of paid apps. Let’s discuss some of the ways through which you can generate revenue for your business by the means of free mobile apps.

How do Free Apps Make Money?

In this section, we will discuss which revenue models you should use to make money with free mobile apps. Let’s get started,

·  The Advertising Model

The mobile advertising revenue model was always a successful and fruitful endeavor for the businesses. Till now 7 out of 10 businesses choose this model to generate revenue with their free apps. According to the Sweet pricing stats, over 32% of people use only in-app ads for revenue generation. There are many methods through which you can get paid such as,

  • Get paid per impression.
  • Get paid on per click (relatively high than impression costs)
  • Get paid on per install of the advertised app.

Now, let’s have a look at how many types of formats are there in mobile app advertising.

  1. Interstitial Ads
  2. Banners or display ads
  3. In-app video ads
  4. Native Ads

native-ads

Using a mix of ad formats and placement can generate maximum revenue to developers and engagement to users.

playable ads

With these stats, you can see how the business can generate the desired revenue from free mobile apps. You can choose at your convenience how you want to generate revenue. You can make money with an app idea, or by per downloads. Just make sure that you made a clear strategy for that and then comply accordingly.

·   Sponsorship

Sponsorship is another revenue model which turned out to be successful in recent years. However, there is a catch in this revenue model. Finding the right funder is quite challenging but once you find one, the flow of cash will be even. In the sponsorship model of revenue, there are a few types you should know about.

  • Agreed revenue split generated by the app.
  • Monthly sponsorship fee paid by funder for app maintenance or use.

·  In-app Purchases

In-App-Purchased

In-app purchases provide an ability to sell a variety of virtual items directly from your app — including extra bonuses, premium content, game currency, and goods or unlock game levels.

The strategy falls into categories:

  • Consumable – a product that can be purchased and used once within the app. Example: virtual currencies.
  • Non-consumable – a featuring product bought for permanent usage, that does not expire. Example: new game levels or maps.
  • Subscriptions are used to unlock features and content for a limited period. Example: annual news subscription.

50% of the leading apps use in-app purchases a stream of earnings and the model is expected to dominate in the next years. It is commonly preferred among game developers, mostly due to digital money, used by users to purchase in-app content or to unlock new levels. That is more, half of the games provide more than one virtual currency- ‘coins’, ‘gems’ or ‘gold’.

·  Collecting and Selling Data

Well, this is probably not the most widespread and ethical way of app monetization (and that’s great), but collecting and selling personal data still remains one of the effective approaches to turn a profit.

Some companies that offer free mobile apps sell their databases to third parties. The information may contain user’s email address, social media accounts, and personal preferences.

Apps generate a lot of data in terms of user behavior, which is highly desired by those who are in different research fields.

So app developers can sell this kind of information to the researchers and make quite a good return of money. Actually, there are two ways to earn on selling data: track what users do and sell data to outside companies or use the raw data itself for your own purposes.

From a marketing point of view, companies want to pay to display ads to the most relevant audience possible; while on the flip side, far not each service can gather the same data as Facebook or Google does. Nevertheless, if your app is able to gather relevant data, then you may have a way to profit from it.

Concluding Remarks

There are a lot of effective ways to monetize free apps, but it will take some planning and well-rounded marketing strategy. Advertising is still holding the leading position as app monetization method, with 65% of all apps on the market. Still, developers use app monetization mix: in-app purchases and ads.

App publishers should do a market research, define target users, and check other app developer’s success stories. The main challenge is to get awareness, acquire loyal users and choose the right revenue model. Developers should plan more targeted ad campaigns to promote the app and its releases, constantly provide updates on features, use more blended and unique revenue models to deliver value to users. This will lead to greater profits and help keep your customers satisfied.

Digital Revolution with Mobile Apps in Healthcare & Pharmaceutical Industry

Digital Revolution with Mobile Apps in Healthcare & Pharmaceutical Industry

Due to the rising use of smartphones and mobile app stores, fitness and healthcare apps are gaining a substantial amount of popularity of the last two years. A firm growth in wearable technology is also a subsidizing factor in this scenario. Pharma and healthcare executives are well versed with this transformation and are experimenting with a wide range of digital initiatives. Mobile app development companies are helping the medical industry in this and are playing a vital role in the digital revolution of the healthcare sector. With the passage of time, the pharma app industry is only going to touch the zenith.

Let’s discuss the major factors that the pharma/ healthcare sector and mobile app companies can consider while making apps. These factors can also change your perspective towards the medical applications.

1.  Fitness app for chronic diseases
A huge fraction of people is constantly suffering from autoimmune, metabolic, genetic and other severe diseases that make patients follow strict precautions and guidelines. Doctors recommend them routine checkups and regular supervisions. IT companies have made numerous apps that can look after such complications. Considering their knowledge and proficiency, it is much more advantageous for medical companies make pharma apps that address the issues of the patients.

2. Locating free health care clinics and hospitals
Majority of population in the world still cannot pay for health care services. Pharma companies can make use of this matter and make a mobile app that can take care of such real issues. The app that can send notifications to people about the free health checkups for the specific ailments, plan/ schedule appointments and make them remind about the schedule beforehand. Providing a genuine helping hand is also a considerable way of endorsing your brand.

3. Ordering drugs
An online transaction is a buzzword in this day and age. Right from home delivery of food to booking cabs – people are getting used to doing everything online. Pharma companies can add one more service in this list i.e. Doorway delivery of the prescribed medicines.

4. Cross checking clash by multiple medications
Pharma companies can make app’s recording patient information. With this, when the concerned person will buy recommended medicines for another ailment, the app will prompt him/ her of the reactions or allergies that can happen with the clash of multiple medications. This can endorse both the brand and the product and gather a massive following from the crowd of patients.

5. Social network connecting patients
Diseases such as Multiple sclerosis, Amyotrophic Lateral Sclerosis, Cerebral Amyloid Angiopathy, Immuno Deficiency Syndrome, etc. do not have any proper cure and pose patients with a lifelong struggle to cope with. Healthcare and pharmaceutical companies can build social networking service apps that can connect patients having similar ailments with each other. This will make experienced patients, assist one another and control their medical issues, while conducting day-to-day activities.

SEASIA’S CONTRIBUTION IN MAINTAINING SOUND HEALTH

There is a variable swath of medical apps on the market, which allow you to better understand pharmaceuticals or to diagnose your symptoms and prepare you for an unexpected medical emergency. Seasia took such apps to a whole new level by making:

Herbpathy App: Herbpathy is a repertory and a Materia Medica of herbs. It lists common diseases and suggests herbs to cure these diseases. It also gives a combination of herbs that benefit a disease.

herbs

Medi Alert App: The MediAlert app built by Seasia Infotech is a simple medicine reminder app. It schedules alarms and reminds you when to take medicine. It also lets you schedule alarms for your next upcoming appointment with the doctor. Furthermore, you can make your own notes on prescription and can take pictures of the prescription given by the doctor.

medi-alert

Fitness Visa app: It’s a fitness app that offers you an exceptional facility to get limitless access to all the nearby fitness centers. Any studio or gym can be chosen as per your preference and requirement. Trying different Fitness gyms and studios provides you an exclusive experience of exercising and achieve flourishing health.

We are trying our best in the medical field to give the most out of mobile apps and popularizing it on app stores. We are also developing one more pharma app which will help you order medicines online from a pharmacy. All you’ll have to do is upload the prescription using your phone (camera) to place the order. This shall be the best app for those who are too lazy to visit the local medical stores.

fitness

THE FINAL WORDS

With the advancements in the digital technology, the competition in healthcare and pharmaceutical companies is getting fierce. Within 5 to 7 years, a substantial proportion of the medical portfolio will create value through more than just drugs. Many drugs and healthcare apps will be a part of the digital ecosystem that will constantly monitor the condition of the patient and provide instant feedback. This ecosystem will help in advancing health outcomes by modifying therapies to a patient’s lifestyle and clinical needs and permit distant monitoring by medical professionals of a patient’s ailment and adherence to treatment.

With the right technical expertise, pharmaceutical/ healthcare corporations can collaborate with mobile app development companies to ensemble a right balance between human touch and promotional value. And since Seasia Infotech is utilizing this area quite well, we are open for all the market leaders from the pharmaceutical industries for an ideal mobile app alliance.