How to make money from your mobile or web app

1. Paid Apps: This is the most straightforward model where users pay a one-time fee to download the app. The challenge here is to convince users that the app is worth paying for, which usually requires significant marketing efforts and a highly compelling app.

2. Freemium: This model offers users access to basic features for free, while premium features require payment. It’s a common model for games and service-oriented apps.

3. In-App Purchases: This model allows users to download the app for free and then purchase virtual goods within the app. These goods can be anything from game currency to new features and content.

4. Subscription: Users pay a regular fee to access the app or certain features within the app. This model is popular with content and service-oriented apps such as music streaming services, news apps, fitness apps, etc.

5. In-App Advertising: In this model, the app is usually free, generating revenue from displaying ads to users. This can be done through banner ads, video ads, native advertising, etc.

6. Sponsorship: This involves partnering with advertisers who provide users with rewards for completing certain in-app actions. It’s a less common model but can work well if the app has a large and engaged user base.

7. Data Monetization: If the app collects valuable user data (with user consent and in accordance with privacy laws), this data can potentially be monetized. This is a sensitive area and requires careful handling to avoid privacy breaches.

8. Commission-Based: The app facilitates transactions between third parties and takes a cut from each transaction. This model is typical for the marketplace, ride-sharing, food delivery, and e-commerce apps. This revenue model is notably used by apps like Uber, Airbnb, Etsy, and Jumia where the platform connects consumers and service providers or sellers