The technique of getting user revenue is known as app monetization. App monetization techniques are variable; however, most effectively monetized applications include numerous distinct monetization strategies.
Paid Apps- In this model, users pay an upfront fee to download/install the app from the app store.
In-App Purchases (IAP)– Apps lure users with premium features, and they can purchase within the app. You must have seen extra lives in games, premium filters in photo-editing apps, or the unlocking of advanced features in many apps.
Sponsorships And Partnerships- Apps partner with brands or other businesses for sponsorships or collaborations. They also promote third-party products or services, known as affiliate marketing. Through this means, you can recover a good amount of cost for making an app.
Freemium Model- Have you noticed apps offering basic versions initially and asking to pay for premium features? This is a freemium model quite prevalent in the mobile app market.
Subscription Model– Users pay a recurring fee (weekly, monthly, or annually) to access content, services, or features within the app.
Advertising- Apps display ads for revenue from advertisers. Be it banner ads, interstitial ads, video ads, etc, all the popular apps with a large user base earn significantly through this way of advertising.
Data Monetization: Some apps sell user data to third parties. Those third parties use the data for market research, analytics, or targeted advertising.