Monetizing an app should be your main purpose after creating the apk. Normal guys think that you are paid per download of an app, but no, you aren't. That myth is for tech newbies.
The monetization of your app is on your head so, we need to go through some good monetization methods that you can employ to get some revenue out of your sweat.
There are three main monetization methods, but we'll give five concrete methods for you.
1. Advertising
This is the most common. You will have to place ads in your app. The ad companies will then pay you in different ways;
a. CPC - Cost per click is the amount paid when someone clicks your ad.
b. CPI - Cost per impression when someone watches a video ad
c. Cost Per Install - when someone installs an app through an ad.
d. Cost per view - when someone just gets a glimpse of your ad.
Advertising can help everyone, but you need to use ads that relate to your audience.
2. In-app purchases
Here, you'll provide a premium service in your app or give your app with a free trial after which your clients can pay. It's a risky method for African marketing, but if you can provide great content and service, people will pay.
3. Sponsorship
Someone might sponsor your app so that you can display their products in it. This is a great method because you are assured of earning something from your app.
4. Affiliate marketing
Affiliate marketing is promoting other people's products. When someone purchases a product you are promoting, you earn a certain commission and cost per click.
With a large number of users, you'll be able to get enough clicks to push you ahead. Of course you need to know your audience well to know what they really like and what they can purchase.
5. Outright purchases
These are direct purchases made before downloading an app from Google play. It's a depreciating method because people are tending towards paying for things they are sure of .
I wouldn't advice you to use this type of monetization.
As short as that. Get busy looking for more ways to monetize your app and if you find any, help me by commenting them below.
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