This article is part of www.naijatechhub.com‘s “How to Make Money Online” series.
Do you know that the Candy Crush company was recently sold for $5 billion, Amazing Right?
I’m sure you have downloaded apps from either the Windows’ Store, Apple’s Store or Google’s play store and it was either you bought the app or just downloaded a free one. In those free apps, you must have seen ads pop up whenever you are connected to the internet or there are some levels or powers or extra stuff you have to buy online from the app. These are all ways of making money developing mobile apps.
Apps can generate lots of money but first, you need to develop an app which means you have to know how to program to a reasonable level or have money to pay someone to do it for you. Google’s Admob is one of the programs you can use to monetize your app. After developing your app, you upload it to the app store of the platform you designed it for and then you can decide to monetize it in one or more of these three ways:
- By selling the app – This option works mainly when you are a big company with an app highly sought after by people.
- By enabling in-app purchases – This is the best option for monetizing apps, users get to download your app for free and then enjoy playing it up to a certain level where they will need to buy some stuff in order to enjoy the gameplay or progress to another level. This is the type of monetization in apps such as Candy Crush and many others.
- By showing ads in your apps – This is a little less effective than the in-app purchase but has the potential to rake in a decent revenue and you can use both the in-app purchase and it together. Users see ads whenever they are connected to the internet while using your app and whenever anyone clicks on an ad, you earn money.