Introduction
There are many ways to monetize an app. In this article, we'll go over three of the most popular methods: ads, in-app purchases (IAPs) and renting apps.
Rented apps
Renting apps is a form of paid app that allows users to try out an app before buying it. This can be done through the Google Play Store or Apple App Store, but it's also common in third-party stores like Amazon and Samsung Apps.
Renting an app usually comes with some sort of agreement between you and the developer regarding how long your access will last, which may be as short as a week or two (or longer). The benefits for both parties are obvious: developers get more revenue from their products because people are willing to pay for something they haven't even seen yet; meanwhile, consumers have access to high quality content at low prices.
However, there are some downsides: first off - if you don't plan ahead enough when creating your rental plan then there could be unexpected costs involved later on down the road - such as having extra storage space required because someone else rented something too much longer than expected (or vice versa). And secondly - if you're not careful about checking how much storage space has been used up by each person renting an item then this could cause problems down stream too since these limits vary between platforms depending on how many devices connect at once into one network connection type/speed combination type/etcetera...
In-app purchases
In-app purchases are a great way to monetize your Android app. They can be used to buy upgrades and additional features that you want to offer users, such as extra levels or new characters.
In-app purchases can be made one time or on a subscription basis. The price of the subscription will depend on how many months you want it for and what features you want included in it. For example, if someone buys an annual membership for $10 per month (or less), then they will only pay $40 total for 12 months worth of access—but if they were paying $20 every month instead then their total cost would be $120 over 12 months instead!
Advertisements
Advertisements are a great way to monetize your app. You can use them in-app or on the app store. Advertisements can be video or banner ads, rewarded (such as a free item) or non-rewarded (like an ad that shows up when you first open the app). Ads can also be targeted based on user data like age, gender and location so you know exactly who is going to see your ad and why they would want it.
Ads are everywhere: Facebook, Google Play Store and even inside apps themselves!
There are many ways to monetize an app.
There are many ways to monetize an app.
Renting apps: The first strategy for monetization is to rent out your app at a set price per month or year. This can be done either through the Google Play Store or Apple's App Store, where you'll need to set up a subscription plan and provide detailed instructions on how users must access the service in order for their payments to go through. It's important that users know exactly what they're paying for in advance so they don't get angry when they find out later that there's no way around purchasing content within the app—and even then, it may not work as intended (e.g., features aren't enabled). If this method sounds like too much trouble or expense, consider using ads instead!
In-app purchases: In-app purchases (IAPs) are another common way developers make money off their apps—especially if free trials aren't offered at all! You can sell virtual goods such as coins or special items within games by charging real money from users who want them; however, keep in mind these transactions happen directly through iTunes/Google Play instead of having an account linked with yours via PayPal
Conclusion
Apps are an excellent way to generate revenue. We’ve seen some apps do well in the app store, but many others fail to reach the top charts due to a lack of user engagement or poor monetization strategy. If your app doesn’t perform well, it might not be worth investing time and money into developing it further; instead, you should consider outsourcing some functionality through an external service provider such as AdMob or Google Mobile Ads with Adsense.