Making money online is pretty easy and according to experts, one of the best practices is to exploit every platform your visit.
Google Play Store is an android store that is visited by all android users.
According to Wikipedia, The Google Play Store had over 82 billion app downloads in 2016 and reached over 3.5 million apps published in 2017, while after a purge of apps is back to over 3 million.
Did you know you can enjoy part of this figures? Yes, you can, and making money from Google Play Store is an option.
Google Play Store is a powerful diverse android library that features apps, games, songs, movies, books and many more.
Some apps in Google Play Store are paid and users with Google Play credits can buy these apps without using a credit cards or PayPal for the purchase.
Google Play Gift cards can also be used to complete in-app purchases.
Generally, we visit Google Play Store whenever we heard of an app and want to get it right away.
Do you know the developers of the apps you are using earn money as you download and use their apps?
Perhaps, uploading your own apps to the Google Play Store will help you earn revenue per usage as well.
However, you will need to create your own Android apps even without coding language to start making money with your apps.
But how do you start making money with app on Google Play Store? What are the different ways involved? Don't worry, we got you covered.
That said, this article compiles all possible ways to make money from Google Play Store.
What is the Google Play Store?
Google Play, formerly known as Android Market and known as the Google Play Store, is a digital distribution service run and developed by Google.
It acts as the official app store for authorized devices running Android and its derivatives, as well as Chrome OS, letting users to browse and download apps created with the Android software development kit (SDK) and published by Google.
Google Play is also a digital media shop, with music, books, movies, and TV shows available.
Purchased content from Google Play Movies & TV and Google Play Books can be accessed via a web browser as well as the Android and iOS apps.
Applications can be downloaded for free or for a fee through Google Play.
They can be installed directly on an Android smartphone using the Google Play Store mobile app or by using the Google Play website to distribute the app to a device.
How Payments Work in the Google Play Store?
Payments work as follows in the Google Play Store;
- In the case of paid Android applications, the revenue generated by the app will be credited to the account within 30 days.
- The Google Play Store's payment method is based on a 70:30 payment ratio. It means that for every dollar spent on the app, 70% of the money goes to the app's owner and 30% goes to the Google Play Store.
How Much Money Can You Make By Publishing Android Apps On Google Play?
One of the most crucial factors to consider while developing an application is the platform for which you want to design it.
One of the most outstanding platforms for creating and distributing Android applications is Google Play.
It offers a number of advantages to developers, including several methods for measuring the growth and performance of an app on the Play Store.
According to some statistics, Android developers make roughly $5000 per app on the Google Play Store.
9 Ways To Make Money From Google Play Store
There are many ways to make money from Google Play Store — from selling your apps to using in-app purchases, there are just many of them.
You could use one of the ways or even combine many to maximize your revenue.
That said, here are the best ways to make money from Google Play Store.
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1. Selling your App on Google Play Store
Selling your app is, without a doubt, the most straightforward way to make money from the Google Play Store.
However, if you want customers to choose your paid app over free options, you must provide a far superior service.
If you can persuade people to choose your paid app, you've discovered the fastest way to profit from your apps.
Paid apps, on the other hand, aren't necessarily easy to succeed with.
You'll need to focus on a very particular niche and offer the best solution for that niche.
Users are less likely to choose your app if you can't solve a very particular problem for your target demographic and do it better than others that try.
It's also worth noting that iOS consumers are more likely than Android users to purchase paid apps.
2. Earning from In-App Purchases
One of the most common ways to make money with your app is through in-app purchases.
They're most typically found in games and other entertainments.
Offering products such as game cash, new characters, character clothes, and so on may entice your users to pay for them.
This way, you may make money while keeping your app free to download and use. You can still use this method if your app isn't a game.
You may, for example, provide basic functionality for free while charging people for premium services.
However, keep in mind that many consumers have acquired a detest for in-app purchases and microtransactions in recent years.
Pay-to-win games, in particular those that primarily emphasize bought items, are branded as such and may be shunned by some consumers.
You must strike a delicate balance here.
Ensure that the in-app purchase capability improves client happiness and engagement with the applications.
Candy Crush is a popular game that uses In-App purchases.
With the help of in-app purchases, this game earns around $800,000 every day.
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3. Make Money from In-App Advertising
In-app advertising are included in 49 percent of mobile apps, according to surveys.
While ad revenues used to lag behind in-app purchases by a significant margin, the gap is shrinking with each passing year.
This option also enables you to offer your app to consumers for free.
As a result, you'll be able to get a lot more people to download and try out your app.
Users will not have to pay anything to utilize your app, unlike in-app purchases. Simply stating "no in-app purchases" in your app description will entice more people to download it.
Despite the fact that they are not mutually exclusive.
You may make even more money with your app by combining in-app sales and adverts.
This, too, necessitates a fine balance.
Users may consider adverts and sales to be excessively "in your face" if you aggressively feature both. If you wish to employ both options at the same time, you must tread carefully.
Another thing to keep in mind is that when it comes to mobile ads, moderation is crucial.
Do not place massive advertisements every few minutes.
This will divert users' attention away from their intended task and have a negative influence on user experience.
Offering prizes for watching ad videos is one method to convince viewers to consume commercials gladly.
You can reward consumers for watching commercials with credits, vouchers, or game stuff.
They will choose to watch the advertising on their own accord, and they will be compensated for it.
4. Make Money Through Subscription Model
If your app is suited for a subscription model, this can also aid in revenue generation.
You can provide more specific workouts for your subscribed consumers if your app includes fitness routines.
Subscribers may get better quality or more playlist options if you stream video or music.
If you develop and distribute material on your app, you may be able to provide members access to new content before free users.
Finally, for a small fee, your app may offer promotions, coupons, or discounts to your members.
Your revenue would be proportional to the number of subscribers, making it predictable.
As a result, this alternative differs from in-app purchases and ad revenues, which are more unpredictable.
The Netflix company is an example of a subscription-based company.
Make an effort to provide valuable search content and materials to your target audience.
Make intriguing content so that users would want to spend more time with the application.
You can profit from your application by enticing the audience to use it.
As a result, integrating a subscription model into your app can be an excellent way to generate revenue.
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5. Make Money with Sponsorship
If you can secure a sponsorship contract for your app, the advantages might be numerous.
To begin, a well-known sponsor might aid in the promotion of your app.
Then, a strong sponsorship contract might cover a large portion of your design, development, and marketing costs, resulting in increased revenue.
With one or more sponsors for your app, you'll be a step ahead of the pack in the race to make money on the Google Play Store!
To use sponsorship, you must first find a company or brand that is using an Android marketplace app that is comparable to yours.
Following your search for the company, you will receive their sponsorship, and your company's consumer base will grow.
6. Employ the Freemium Model
This method of monetizing is interesting.
The process through which different companies give upgraded versions of their mobile phone applications to the intended audience is known as the freemium model.
Users will pay a certain amount of money in exchange for the application in this way.
It's one of the most profitable and secure ways to profit from apps.
The primary idea behind this freemium model is that the application's core premium features are locked and only unlocked for individuals willing to pay real money for them.
7. Create a Multi-platform App
Assume you've designed an app that can only be used on mobile phones.
Users who prefer to use applications on their computers and tablets will undoubtedly be missed.
Making your app compatible with a variety of Android devices is an easy way to expand your app's audience.
It's essential that all users have access to all apps and can get information quickly, such as how to unblock pirate bay.
Create your app in such a way that its visuals and other assets can operate on a variety of Android devices, independent of their size, resolution, or version.
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8. Keep a close eye on your Competitors
There are many competitors in the Google Play Store in the industry of Android apps.
It is necessary to research the competitor applications that will compete with your application on the Play Store in order to make an application successful.
It is necessary to create applications with captivating and unique features that are new to the target audience in order to be successful among competitors.
Create new features for your app that are both useful to users and engage their interest in using the app.
A sure strategy to make money from releasing apps on the Play Store is to conduct thorough research on your competitors and create an application that outperforms them.
9. Research Profitable Topics for your App
One of the most important facets of developing an application is ensuring that there is a market need for it. There is no way an application can be effective if it does not have a target audience. Prior to developing an app, it is critical to devote time and conduct thorough research to identify a successful Android market segment.
The following are some examples of profitable Android apps:
- Social media applications,
- Music-related applications,
- Applications dedicated to entertainment purposes,
- Games,
- Business and finance applications.
Final Thoughts
Every day, the world of mobile apps expands and evolves.
These methods, however, appear to be the most common ways to profit from the Google Play Store.
You can select one or a combination of options from this list. However, you must make your decision based on the nature and functionalities of your app.
Another factor to consider is that paid apps in the Google Play Store can be tough to promote.
That isn't to imply that isn't conceivable.
Definitely not. You are far more likely to get users to download your app if it is free or freemium.
As you can see, there are numerous methods to profit from free apps.
Just be careful not to overindulge in advertisements and in-app purchases.
Otherwise, you risk annoying your users and losing them.
Remember that in order to make money with free apps, you'll need as many active users as possible
References:
https://blog.mobiroller.com/en/how-to-make-money-from-google-play-store/
https://appsgeyser.com/blog/earn-money-play-store-apps/