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How Do Free Apps Make Money? Earning Passive Income With Mobile Apps - YouTube
Channel: Arsh Singh
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How do free apps make money?
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How some people earn passive income through mobile apps?
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In this video I want to share the
six proven monetization strategies on
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how to make money from free apps.
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If you are planning to launch an app
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or make more money from your existing app
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then you will find this video helpful
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So stick around till the end of this video
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And hey if you're just meeting my name is Arsh Singh
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and I help launch and scale businesses.
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And if you're watching this on YouTube
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and not yet subscribed subscribe
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And hit the bell icon so that you don't miss on the good stuff.
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First thing first it's been years since the first iPhone app came out
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And even today the app market
isn't showing any signs of slowing down.
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People have made hundreds if not
millions of dollars through mobile apps.
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There are around 3.8 million apps on the
Play Store
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And 2 million apps on the App Store
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And more than 80% of those apps
are free
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Yet the app stores are worth billions of dollars.
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How?
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The fact is that
98% of the revenue comes from these free apps
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Now it's important to note that
like any business if you sell a product
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or service then that would be the
primary source of revenue for your app
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For example, if you have an commerce
then selling the products and making a
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commission would be the primary source
of revenue for your business
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So as an app or a business if you sell
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products or services then you should be making some money
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but you can still leverage
the monetization strategies that I'm about to share
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in order to further
increase your revenue
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but not all apps sell a service or product
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but they still make money. How?
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Let's take a look at the most popular and proven
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app monetization strategies for you to make more money.
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Number one is ads.
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Integrating a third-party ad network is probably the most common
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and the easiest way for you to make money.
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You can check out the ad
networks like AdMob, StartApp, or InMobi
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which allows you to do just that.
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As an app owner you get paid based on the
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number of impressions you get on the Ad
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or the number of clicks that you get on the ad
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and the type of an ad that you run.
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The type of ads typically include
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banner ads, video ads, interstitial ads, and native ads.
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The number two is In-app Purchases
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This is the most powerful strategies to make money from your app
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The in-app purchase is a concept where a
user purchases a set of virtual items
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from that in your app.
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These virtual items could be some special content a
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premium feature or a restricted level in
a game.
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The in-app purchases generates the
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highest revenue for the app owners and
this strategy is going to dominate in
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the years to come so if you haven't
tried this yet you should definitely try it out
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The next one is sponsorship.
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Businesses sponsor all kinds of things
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from TV shows to events in order to get
in front of their target audience
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If you're building something in a niche
then you can find someone to sponsor your app
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launch it and run it on behalf
of those sponsors.
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Reaching out to the brand's to showcase your app
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or your plan if you haven't launched yet
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could be a great starting point for you to
find the right sponsors.
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The next one is subscriptions.
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Subscription is one of the
best ways to get a predictable recurring revenue
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The only requirement is that
your app should have some value to share
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to its users so that they can keep
coming back and paying you month on month.
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A popular technique is to start
with a free trial let's say 14 day or 30 day trial and
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then charge a subscription
fee to those users who wish to stay back
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and continue with a paid plan
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Next up is freemium.
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Freemium apps are made available free
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of charge but include
paid or premium features
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As the term state it's a mix of free + premium
hence freemium.
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The users download a free version of the app
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and if the content is worth paying for
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then they upgrade to a premium version.
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It's a great way to get your foot in the
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door and upsell your users with quality
and premium content.
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You can also have two different types of apps
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which is one free version and a paid version
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In fact, 15% of the free apps have a
sister version which is a paid app to
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unlock all the premium features.
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The next one number six is affiliate marketing.
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Affiliate marketing is a huge industry.
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It allows you to promote and sell someone
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else's services
and products and make money as commissions.
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You can use various techniques within your app
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in order to promote the affiliate products and services
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based on the number of clicks or installs.
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There are a number of
websites that are available to help you
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find the right affiliate based on your
apps vertical
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And there are several techniques to use this app monetization strategy
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like CPM cost per impression,
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CPI cost per install or CPC cost per
click.
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Alright let's summarize the top six app
monetization strategies that we just discussed.
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Number one is ads
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Number two is in-app purchases
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Number three is sponsorships
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Number four is subscription
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Number five is freemium
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And number six is affiliate
marketing.
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Now you can make a lot of money with the mobile app development
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if you go about it correctly.
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in fact top 15% of the iOS and Android app developers
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make roughly around $5,000 per month with their free apps
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but that also means that only about 10% or 15% of
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the apps on the App Store and Play Store
combined are good quality apps.
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Now if you apply these app monetization
strategies
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on top of a quality coded app
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then you will certainly be able to
increase your revenue.
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Hey if you like this video make sure to smash that subscribe button
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in the near future
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and drop a comment below and let me know
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what do you think about this video and
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and with that being said
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I'll see you in the next video.
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