![]() Since the initial access threshold is nonexistent, free applications acquire more users. The user can playtest with the product with no strings attached. The cost barrier is removed, and there is one less reason not to download the app. However, when an app is made free, a user’s choice gets much easier. The most obvious downside of a free app is that they don’t generate instant revenue. Offering mobile apps free can be a double-edged sword. This has resulted in free apps outnumbering their paid counterparts in the app stores. One Google study found that 50% of mobile users have never paid for an app. The problem is most people aren’t willing to pay upfront for an app without having experienced it. Users are also most likely to engage with the products frequently since they spend money on them.īuilding a loyal user base that remains invested in your app is one of the best ways to generate a healthy profit using this model. The most obvious advantage of a paid app is that it brings instant revenue during app downloads. Now that that’s out of the way let’s continue discussing the upsides and downsides of paid and free mobile apps. To be clear, I’m not discouraging you from embracing the paid app monetization model.Įach business model has its strengths and weaknesses depending on various factors, including your target audience, app development and business goals, and other aspects specific to your industry.Ĭonsider all those as you draw out your app monetization strategy. So, read on.īut first, let’s have a closer look at the pros and cons of paid and free apps. There are other means to generate revenue while keeping your app free - and I’ll gladly share the most effective ones in this article. With millions of options available, would you choose to pay for an app if there’s a free alternative?įortunately, asking for an upfront download fee is only one of the many ways to make money from mobile apps. Now, picture yourself in the shoes of app users. In many cases, it’s even more challenging for app owners to earn money from paid mobile apps.Īs of the third quarter of 2022, there were more than 5 million apps combined in the Apple App Store and Google Play Store. Yes, paid apps offer instant revenue for web or mobile app developers.īut what if I tell you that the most effective way to profit from your product isn’t necessarily the most obvious? Why would you choose to make a free app when you can get users to pay cold, hard cash for it? Isn’t an initial download fee a more efficient way to make money from a product? ![]() I can imagine the title of this article has some people raising eyebrows. ![]()
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