Mobile App Monetization – How I’m Pulling In $125 eCPM
by Carter Thomas
“It’s money that matters.” – Randy Newman
The secret’s out – it’s not easy to make money with apps.
Everyone who’s on this blog at some point has watched, read or purchased content from someone talking about how you can make millions of dollars with apps. They talk about how every download you can get is going to make you AT LEAST $1…all you need to do is get apps in the store.
I hate to break it to you, but that’s bullshit.
If you think that you’re just going to sit back, relax, and watch the money pour in, you’re in for a rude awakening. App monetization is not about being in the game, it’s about winning. It’s not about downloads, it’s about dollars.
In fact, if it wasn’t for a few key app monetization networks, I’d be in a lot of trouble. Up until now, making money on apps required a LOT of downloads, much the same way websites require a lot of traffic. Strategies like in-app purchases, Lite -> Paid up-sells, and CPM advertisting (Admob/iAds) are DYING, yo. Straight up. I know this from first hand experience.
Fun fact – last week the in-app purchases from 3 of my apps made me about $70. The new monetization I’m doing made me $800.
In-app purchases took me 2 days to program in and $300 in development work. The new services take 10 mins and involve 2 lines of code.
Some people have different results, no question. This can vary from category to category and depend on download volume. I will say, however, that every single person I’ve talked to has absolutely buried their previous best revenue days with these new networks. The world is changing.
The Glory of Inequality – Why It Pays To Love Rich People
Yeah, you heard me. When it comes to making money with apps, the best thing you can do (at least for a while) is to make rich developers even richer. Instead of trying to sell your own apps, sell theirs. Here’s why.
Now – please understand that I’m all about following your dreams and staying the course. To create a brand that’s as strong as iron and as cool as Triumph Motorcycles is the ultimate dream for anyone getting into apps. But this article isn’t for you – this is for the thousands of you out there that just want to make money. You want to build an app and have it spit out $80/day and then repeat that process.
So here’s a quick and dirty breakdown about the app market that maybe you don’t know (if you haven’t opted in to my email list and read the $0.51 article, I highly recommend you do so before reading this):
Take a look at the apps on the Top Grossing lists, specifically the top 25. You’ll notice that most of them are Free. Top Grossing AND Free?? wtf.