How to Monetize an App [In 2023]

By
09rupeshraj4@gmail.com
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38
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In this video, we look at how to monetize an app effectively in 2023 in this in-depth guide. We dive into the world of app monetization, examining 5 distinct methods, their advantages, drawbacks, and the potential profits each brings. Get first-hand insights from successful business models such as Vivino, Amazon, Booking.com, Netflix, and many more.

– Selling Products or Services: From simple affiliate deals to running a full-fledged eCommerce store, learn the intricacies of selling physical or non-physical products through your app.
– Digital Subscriptions: Understand the freemium model, ideal pricing strategies, and the right fit for subscription-based apps.
– Advertising and Sponsorships: Explore how to integrate ads, from banners to interstitial ads, into your app without harming the user experience.
– Selling Digital Goods: Unveil the secrets behind profitable in-app purchases, predominantly seen in gaming apps.
– Selling Data: Learn about the potential pitfalls of selling user data, highlighting crucial data privacy laws.

We dissect each strategy’s complexity, scalability, and profitability, and reveal which methods are best suited for your app.

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38 Comments

  7. I noticed that nothing involving leads was mentioned but I do think that this is a worthy mention as you can monetize off of independent contractors by providing leads, and its not selling user data if the customer willingly put their information on the site to connect with a professional. So lead generating companies are profitable, and we implemented this into our company that is student-operated and provides what I would classify as "basic services", nothing professional at all, so we realized instead of losing all these potential customers due to our student-run company, we would just create a "PRO" version that sort of acts as a "Premium" version for these apps you referenced in the video, but a big benefit was that we didn't have to charge the homeowner for this, they can submit it for free, the contractors just pay.

  9. just made my own ios game test it on my iphone and realise 1 I have to pay apple 99$/year, 2 I need a third party to even make money, what I understand I need unity or admob, right now I only have adsense, now I understand I need one of this, than I need to integrate the code first in the app before upload, I'm not that good with code like a beginer I would like my ad to show on bottom of the app, but no one explain this how you really put the ad into the app, how you test it, will I even make the 99$ in one year with 2-3 apps

  13. I know one good example of having digital goods business model in an app outside of gaming. The Duolingo Langauge Learning app has things like streak savers that you can buy to save your streaks and things like that. So yeah your right you just have to be creative with them.

  21. You got me with the selling data way of making money. Never heard this before. On my apps I usually make money (not much) with subscriptions, non-consumables and ads. In the past I've tried alternative app stores, known as telco.

  25. Hi m planning ads route. Just to understand how this works…If I have 50k users opening my app 1 time each per month pays same as 5 users opening my app 10k times each (hypothetically)? In both cases, the number of ads google admob is showing remains the same (50k times). So do I get paid the same? Or do they count only unique individuals per month?

  27. My friend, how do they make money from publishing advertisements such as games with those who contract with the Pi team? If you watch every day, an advertisement comes out. Can you share with me the name of a platform or company because I want to be a publisher? Don't told me google admob because app like pi network and cryptocurrency is make money from one Click and always u see the same ad or change sometimes

  33. i enjoy the simplicity of the content peovided. Would you suggest or recommend any tubers who teach the Backend legal enrollments of business in the business of apps, need more depths to understand how banks will back you up in this type of business.

  35. Thanks a lot
    I am building a social sharing platform for software engineers and cybersecurity experts where we share blogs , tutorials, projects , resources for engineers to grow to start and grow their career.
    I am also planning on sharing some successful founder journey.
    I am not sure how I could mobilize this app.
    I am almost done with prototype.

  45. Number 5 is my preference, but you need solid T&Cs for the users, a solid and watertight privacy policy, avoid even collecting personally identifiable information (PII) like the plague if you are wise (not smart to hold that data anywhere as what can be held can be hacked) and anonymize user data…

    Does this sound about right for point 5?

    That and check vs GDPR, UK and US privacy laws.

  63. Hi Heini, thanks for this, very useful. We were going to offer subscription models for our organizational dApp but have decided that we would instead let users make one investment in the dApp, at different levels and they would be organized forever. There will be no advertizing on the dApp. In your experience are we making a mistake?

  65. Hey Heini, what do you think about websites? I think that they are the future, despite the app boom of the 2010s. If you have an established app right now, that's great. But starting one in 2023 my be an uphill battle as people don't like downloading new apps.

  67. Great video as always! I've seen many online services and apps that initially were free or use freemium model but then they had to start monetizing. Which is the way to go from a freemium model and evolve to a recurring payment model without suffering too much? I'm developing an app that can be used once a day or maybe a couple of times a week for 1 or 2 minutes. I think the freemium model its the best but with in-app purchase options but that way there are no future incomes from the app so it could be dangerous for the future expenses of the app. It's a big dilema! 😛

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