A huge potential is present in the Android mobile application development for earning money. However, keep this thing in mind that not every application that is present on the play store earns money. According to statistics, there are almost 3 million applications present over the Google play store. There is a huge competition present among different applications over the play store. An application is required to contain a brilliant idea and must have a huge amount of target audience to be successful and earn revenue over the play store. By using proper strategies, the applications not only earn revenue over the play store, but the cost of maintenance and development of the application is also reduced.
How to earn money from Google Play store by making an Android Application:
Have you ever wondered why people use mobile phone applications? The simple answer to this question is that mobile phone applications offer a lot of conveniences and it is the sole reason why people use mobile phone applications. The people who use android applications demand that the application should be quick, effective, and visually captivating. In order to learn how to earn application revenue, it is essential to learn about the ways in which payment is usually made in the play store.
How payments work in the Google Play store?
The payment method works in the following ways in the Google play store.
- In the case of paid android applications, the amount of money the application will make will be credited to the account within 30 days period.
- The payment method of the Google play store is based on a 70:30 payment ratio. It means that for the money the application makes 70% of the money go to the application owner and 30% of the money will be kept by the Google play store.
According to statistics, the global revenue of Android is almost 71.3 billion dollars in the year 2019. During the years 2017 and 2018, the revenue growth of Google play store increased by 27.3%. The percentage of increase in the application downloads was found to be at 13% in the case of Google play store.
How much money can someone make by Android applications?
One of the important considerations by making an application earn is to correctly choose the platform for which you want to develop the application. Google Play store is one of the most remarkable platforms for publishing and distributing Android applications. It provides many benefits to the developers including different methods to measure the growth and performance of the application over play store. Some statistics say that Android developers usually earn around $5000 with their applications over the play store.
8 ways to earn money from Android applications on Google Play
A variety of different strategies are present for Android applications to make money. These different strategies are incorporated inside the Android application to get maximum revenue. Check out these strategies and apply them to your application. You can use one strategy or multiple strategies at the same time in your Android application to gain revenue. The details of these strategies are as follows:
- Using In-App purchasing
The majority of the gaming applications present over the Google play store involve using in-app purchasing. In-app purchasing is a very powerful option that is available for the developers to incorporate within their Android applications. The in-app purchasing option works in a way that some special features or functionalities are introduced in the application that requires money. To get access to the special features and functionalities the users use different kinds of payment methods to make the purchase and acquire their required items within the application. In this way, revenue is earned with applications. Ensure that the functionality that is present in in-app purchasing, improve customer satisfaction and involvement in the applications. One common example of In-App purchasing is the game Candy Crush. This game earns a revenue of around $800,000 a day with the help of in-app purchasing.
- Using In-App Advertising
In-App advertising is another powerful option that can be used for earning money with android applications. Different companies are present that offer in-app purchasing. These companies use different models that are used for advertisement. One famous model is known as cost per click model for the advertisement. The partnered company usually requires a small commission from the advertisement. One rule of thumb for using in-app advertisement is to use relevant advertisements that conform to the content of your application.
- Try to use a subscription model for the application
Using the subscription model inside the application proved very successful for many companies. The Netflix company is an example of a company based on a subscription model. Try to offer search content and material to the target audience that shows some real value. Try to make interesting content so that the users would like to spend more time on the application. By engaging the audience into using your application, you can get profit from your application. Therefore, using the subscription model for your application can prove a great way for making money from the application.
- Try to create an Android application that runs on multiple Android devices
Imagine that you have created an application and it only runs on mobile phones. Surely, you will miss the users that use applications over their desktops and tablets. One simple solution to increase the audience of your application is to make the application compatible with different Android devices. Create your application in such a way that its graphics and other assets are compatible with running on multiple Android devices regardless of their size, resolution, and versions.
- Finding a sponsor for your application
Using sponsorship for your Android application is also a clever way of earning money from applications. For using sponsorship, first, you have to find a company or a brand that is using a similar application like yours in the Android marketplace. After searching the company, You get their sponsorship, and customers for your company will increase.
This mode of monetization is very interesting. Freemium model includes the process in which different companies offer advanced versions of their mobile phone applications to the target audience. In this way, the users will spend an amount of money in exchange for the application. It is one of the most profitable and guaranteed ways of making money from applications. The basic idea behind this freemium is that the core premium features of the application are kept in lock and they are only unlocked for the people who want to spend real money on the features.
- Research your competitors
In the world of Android applications, different competitors are present in the Android marketplace. To make an application successful, it is necessary to research the competitive applications that will be in competition with your application on the play store. For getting successful among different competitors, it is necessary to make applications with captivating and unique features that are new for the target audience. Create such new features for your application that are very useful for the users and they engage the interest of the users in using the application. Doing proper research about the competitors and creating an application that stays ahead of the competition is a sure way of earning money from the play store.
- Invest your time in researching the profitable categories of the Android application
One of the most extremely important points of creating an application is to ensure that there is a requirement for that application in the market. If you create an application with no target audience, there is no way that such an application can be successful. Before creating an application, it is vital to invest time and do proper research in searching for the profitable niche of the android marketplace. Some common categories of profitable Android applications are :
- Social media applications,
- Music-related applications,
- Applications dedicated to entertainment purposes,
- Business and finance applications.
Millions of Android applications are present over the play store. For earning money from the play store by making an Android application, it is important to create an application that has real worth. By researching proper competitive applications and profitable niches in the Android marketplace, a successful Android application can be created. Different strategies can be used for generating income from Android applications. These strategies include