What are the most profitable mobile apps?

Given that developing an application can cost you between $ 3,000 and $ 1 million, the question of feasibility is quite reasonable. To achieve financial success in this industry, it will largely depend on which of the three pricing or monetization models you will use.

FREEMIUM APPS. As a rule, these are free applications that are available for download, but their functionality is limited, and to get a full set of functions, options, and features, the user must pay. This application model is very popular and has its advantages. Firstly, the consumer does not feel obligations to you, and even without paying for additional functions, he indirectly or directly ensures the growth of the application’s popularity, the frequency of downloads, and as a result and the opportunity for you to profit from another user in the future.

Also, by offering the product for free, you provide the user with the opportunity to test the product, which will subsequently lead to the purchase of a premium version. Agree, so the chances are much higher than when you initially sell the cat in a poke.

This model is most popular for games or applications for editing.

Freemium apps are not only the most popular for downloads (over 100 billion downloads), as well as monetization, but they are also the most profitable. As statistics show, profit averages 71%.

PAID APPS. Obviously, paid applications are not as popular among users as free ones, again because you don't want to buy a pig in a poke and regret the money spent. But it is worth noting that although the popularity of paid applications is declining, users still continue to spend money on their purchase. Paid apps can bring good income if the application is unique, provides opportunities that are not capable of free counterparts. As a rule, this is more beneficial for developers who have a particular circle of subscribers or admirers who do not mind paying, since they already have a positive experience. How to build trust? You can start with a few free applications, possibly with additional paid features to increase credibility.

PAID APPS WITH PAID FEATURES. Let's be honest, few people agree to the conditions under which you have to pay for the application, and then additionally pay for individual functions. Obviously, this type of monetization does not complain too much, but it is worth saying that it is not entirely hopeless. There are still successful applications on the market with a similar monetization scheme, for example, flight tracker - Flight Radar Pro.

FREE APPS WITH ADVERTISING. Also, a fairly popular way to monetize the application, which is that the developer receives money from the advertiser. Developers will earn money when someone downloads the app and uses it often, and accordingly often sees the advertisement. This monetization model is best suited for applications that require long-term use. Also usually the type of monetization with advertising is used as an additional source of income, for example, Freemium apps plus advertising. Sometimes the lack of advertising is offered in the premium version of the application.

By the way, it's worth noting that if you chose the type of application that you want for your business, then for a start it is more profitable to invest in apps for Android, since out of more than 432 million phones sold last year, 77 million had iOS software while 352 million ran on Android platform.

Now that you have all the necessary information to start developing the application, you just have to choose the right development company that will satisfy and fulfill all your wishes.