If you have just developed an application it can sometimes be very difficult to have a clear strategy on how you should proceed with monetizing that app. Here are some of the strategies that you can use for monetizing an app that you plan on offering for free:
Freemium model: asking users to pay for specific extra features within the application or to unlock the full version of the application can be a powerful way that you can monetize any app available for free. Showing the benefits of the app and asking users to unlock the app after a certain amount of usage time or for even greater versions of the features you have to offer will be a powerful argument for users to unlock the full features of your app.
Advertising: In-app advertising partnerships or referral links can be a powerful way that you can monetize your app. With a popular app that you make available for free and a powerful advertising partnership, you can earn money for every advertisement is displayed in your application or every sale that is made from the links displayed in your app.
Micro-transactions: Small payments to use the full features of your app for 24 hours, to make more connections or to purchase digital products within your app can be a powerful tool for monetization. This strategy is often used by game designers for the purchase of digital products within their applications. If you plan on using microtransactions, you can expect to do quite well if you have a successful gaming app.
Consider some of these top ideas if you are struggling to find ways to monetize your app. Even if you are going to make your app available for free in the App Store, you can make a great profit using these monetization strategies.