Google Play store is Google’s certified pre-instated application on Android-branded devices. It provides access to all the content on the Google Play Store. It lets users to browse through and transfer music, books, magazines, movies, TV series, and applications. It is a one place where you can discover all your favourite apps, from which some will be free, and some might charge a specific amount. The huge range of apps available on Google Play Store is categorised into different sections. Free of charge apps are good, but paid apps are better and make more sense.
As we earn money from YouTube, Blogging, etc., in the same way, we can make good money from Google Play Store too. We all know that the webmasters or web developers create the huge variety of apps available on the Play Store. These app developers make different types of apps which suit to the various prerequisites of the users. From entertainment to gaming, from education providing apps to health-related apps, developers design all these apps according to everyone’s predilections.
Paid app is the direct way through which you(developer) get money from the downloading party. But what about free apps. Many big social media apps and wide-ranging apps are downloaded free from Play Store. So, how does these concerns or app developers earn money via free distribution of their apps? Well, there are many ways to make money from free apps too. This can be done by just creating and monetizing your account on Google Play Store. You can get started with establishing your Merchant account from Google Developer Console.
Through setting up your account, you will be able to get payments and track your money sources quickly.
What are the different ways to make money from Google Play Store?
- Paid downloads
It is the simple way of earning money as you just need set your apps price in the Merchant account in the Developer Console. In these paid apps also you can include ads and in-app purchases to make more money. This can be possible only for such applications or games which have a narrow niche in the market or has added attractive paid features. This model might have limited scope in the growing market, as even successful firms, like Facebook, Twitter, Amazon, offer their apps for free. That is why paid download model is not as successful like other in-app purchase apps or ad generating apps. Only 6% of apps are paid downloads.
- Monetize the free apps
We all know that majority of us will not like to pay the amount just for downloading an app. It is a human tendency, and we definitely don’t regret it. We can monetize these apps in the later stage by adding in-app paid features and content to it. For example, if the user has downloaded his favourite game and wanted to reach the highest score, then the different levels of that game can be monetized to play further. As the user becomes addictive to it, he will pay and move ahead by unlocking the full version of the game.
To get this in-app buying feature, you need to set up Google payments in your Merchant account. You can describe in-app produces in the Developer Console, incorporate the in-app billing API into your apps and add the tools to reveal features or provide content.
- Make money with contributions
Providing users with the fresh and updated content is the bottom line of this model of making money. In today’s highly competitive and “more wanting” world, everyone wants to be up-to-date with their source of information. This applies even to your favourite news app, magazine app or educating apps. First, the user downloads a free version of the app and later they can pay some amount to get the latest version of the app.
This task is not easy, as the developer has to make it possible with the help of many tools and tips. A constant check on user’s behavior is required so as to retain him. This can be done with the help of available tools in the Google Play Developer Console. You can use Google Play Billing and reach users in 130 + countries.
- Ads
Placing ads in your app is the best way to make money. When a user downloads your app, the other app publishers put an ad in your app, so that users go through their ad and download their app too. This way even if the user clicks on that ad, you earn money from the publisher. The ad publishers approach you to allow them to place an ad in your app, or you can also approach them to do so. It is an operative way to earn money by just keeping track of users behaviour.
AdMob is the best platform used to gain insights about your users, get more in-app purchases and maximise your ad revenue. It is an affordable development resource for developers as it has high CPMs and best fill rates.
- E-commerce
There are more than 30,000 shopping apps on Play Store. There are a huge number of people who like to do shopping on-the-go. And most of the shopping sites pay particular discount to those who shop from their app. So, people prefer to buy from these apps and save their time and money. The payment system is also not difficult, and once you are done with your basic details, it will keep your info forever.
The shopping gateways are the other good option to make money as many people opt for this quick way of shopping. You can choose this option where your app is the storefront for retail or web tail operations. You can also combine this option with free and paid ads.
- Purchasing power through apps
Google Play Store provides many such options through which the customer’s life will become easy, and app developers earn money through that also. There are different ways which users may use to make their purchase more streamlined, and consistent with convenient payment methods. For instance, Google Play Gift cards, PayPal payment method, buying and selling of apps in many countries, and direct carrier billing. Due to the popularity of these payment systems user sticks to their preferences and make may related in-app purchases.
- Use tools for further conversions
As for now, the developer gets an idea about its user’s preference through his in-app purchases and other keyword search history. App Developers can now target the potential users of the app and urge engagement and turn up in-app products to maximise conversions.
You can get more help from User Acquisition page in the Google Play Developer Console, where you can explore the different ways how users are convinced into customers across your procurement conduits and find the best potentials for app install drives. The developer can involve the users with the help of AdWords ads. Even Google Analytics data helps to create Remarketing audience lists for the highly-esteemed consumers most likely to buy merchandises contained by your app. AdMob drives are designed to increase the responsiveness of developer’s products.
- Take help of Google Analytics to understand user behaviour and then monetize the app
All the app we install will have all the basic information about the user. So, Google Analytics will help the developer to dig deeper and know the references of that particular user via in-app analytics. All the app users are different people with different perceptions.
By understanding the user, a developer needs to add value and design to his app and plan the monetization plan accordingly. Google Analytics Audience Reporting will help you to find out your app user’s distinctiveness and editions used by him.
Tips for earning money through Google Play Store
Google Play Store is all about end number of apps suiting end number of users. The developers of these apps need to have an observant attitude towards the potential users of the app. With the help of In-App Analytics and Google Analytics, developers can dig into the specific needs of the user and add more value to the apps by understanding their desires. Let’s check out how to assign a value to user goals:
- Use Google Analytics goals for knowing specific needs of the user. It will help the developer to assign a specific purpose to the app and then monetize the different levels of the app.
- Take help of Audience Reporting which will assist in emphasizing a multitude of facts about user’s attributes. Active user’s report helps in finding out ways to retain and engage the present users.
- Google Analytics Demographic and Interest reports show up the target audience and their interest levels and help developer to breakdown apps according to user’s preference.
- Take the user-centric approach of Google Analytics, which will help the developer to know the user’s purpose of visiting a particular app again and again.
- Lifetime Value reporting will help you to get a full representation of your user. It will help you to design your app strategies accordingly so that the users use the app over and over again to buy a particular stuff.
- Take help of segmented data of the user on the basis of time, app version, geography, marketing channel, and characteristics, to decide cumulative revenue over different sessions. For this developer has to click on Add Segment to retrieve the separate reports.
Conclusion
To make money through Google Play Store Applications, you need to work out on the properties which create an involved and monetized user base. The engaged user base helps the developer in remodelling the stratagems to find related users based on their behaviour.
Google’s well-designed program for Play Store provides many opportunities from time to time to earn money. The web developers just need to work accordance with the basics first, and then move to other parts related to gaining users, engaging and retaining them and then make money with through analysis.