Can You Make Money From iOS Apps?
Can You Make Money From iOS Apps? Learn about the different ways you can earn money from iOS apps in this post.
A survey carried out on mobile Apps in the second half of 2022 revealed that there are about 2.18million iOS apps available. With such a figure it is only normal to ponder over thoughts like "Can you make money from iOS App?" or "what strategies can be used to make money on iOS apps?"
Well, these thoughts or questions are not out of place because businesses are earning comfortably through iOS apps. In this article, we will let you in on the common strategies you can apply to make money through your iOS app.
Strategies to Make Money on iOS Apps
There are several ways to make money out of your iOS apps, whether your app is a paid or free one. The following models can be used to make profits from your app:
In-app purchase
Though free to download and use, your app users will be required to pay for a good number of features to enjoy optimum utility from it. Unlike the subscription strategy, they might have to pay for several different items within the app. This is considered profitable to many app businesses, however, the app would need to pay for App store fees.
In-app advertisement
To earn through in-app advertisement, you would need to register your app with digital advertising agencies or wait to be contacted by a business brand. As often as your app users see the adverts on your app you get to be paid even if it is a free download app. Although the earnings might come in trickles between $0.10 to $10 per ad impression volume, it's considered to be a profitable strategy.
Subscription
The subscription strategy will require your app users to pay specific amounts either weekly, monthly, or annually to access certain features in the app. Companies like Netflix and Spotify are thriving with this strategy. However, this strategy will require you to think well on the volume of content to make available for different price subscriptions and also for the free version if you have one.
Affiliate links
Another good way to make money from your iOS app is through affiliate links. You just need to register with the affiliate arm of a business and advertise their product. When your app users purchase any of the affiliate products, you get to earn some percentage.
Categories of Apps and Their Possible Returns
All iOS apps do not have the same monetary capacity. Different apps have different rates of returns, while some might yield massive returns, others might give moderate and progressive returns. Here are possible returns for the most commons app category:
Game
To earn a decent amount in the game category you would need to have come up with a very good game idea, an influx of users, and a very impressive retention rate. Businesses tend to earn between $100,000 to $1m.
Photos & Videos
These types of apps often have low subscriptions which reduces their purchase renewal rate. However since it involves colours, facial beauty, and fun, they usually record massive traffic and good download volumes. With this one can earn between $4000 - $20000 depending on the download figures.
Health & Fitness Apps
This category gained quite an attention during the Covid-19 outbreak, as the world was confined to stay indoors for close to a year. People resulted in meditation and yoga apps to keep their cool and businesses who had such apps in the app store earned handsomely.
To thrive in the category you would have to come up with an excellent novel idea that quickly catches the interest of people. With a good download volume and conversion rate, you could earn around $150000 - $30000.
Conclusion
Although you might not have large funds to design an iOS App that would compete with major brands on the app store, it is still possible to make good amounts from your well-built iOS App. But then, your returns may be influenced by the number of downloads, the conversion rate, the pricing, and your app's efficiency. Deciding to invest in 3 to 5 user-friendly apps that are quite resourceful could make you about $40k each month.