It’s costly to make an app, so making up for the expense is essential. While not every app can make you as famous and wealthy as Kiloo (makers of subway surfers), a few business models can put a good penny in your pocket.
The first thing to think about is the problem your no-code app will solve and how scalable it will be. The size of the problem and the number of users your app can help will dramatically increase how much you earn. While also thinking about the pros and cons of building an app with no-code, let’s look at a few ways to make money with your no-code app.
Building a marketplace no-code app
Creating a platform where others can buy and sell is a reliable way to make money off your app. You can take a tiny percentage from every transaction made. Apps like Fiverr and Etsy are good examples. Fiverr takes $1 for every $5 transacted between a buyer and a seller. Think how much money that could compound when you have thousands of transactions in a day.
Developers at WeLoveNoCode build no-code apps with robust and secure payment systems to enable these transactions to flow seamlessly.
Business Buy-in with your no-code app
Let’s say your no-code app is built for women who like yoga, and then you manage to get thousands of them active on your app. What will most likely happen will be Yoga apparel companies approaching you for a partnership deal. Another option is if a business finds your app valuable to its customers. It could pay you a considerable sum to use its app for its customers. There are a lot of other details that go into this kind of partnership, so do some research and ask questions.
Subscription-based no-code app
A subscription-based app can be very profitable. The idea is to get customers who will pay a monthly or annual fee and retain them over a long period. It is much cheaper to service old customers than to acquire new ones.
But this business model comes with its unique set of challenges. A factor that makes this model work is its value delivery. Your app must be valuable enough to keep customers coming back for more.
For example, if you had a music library app and you never updated the content, when customers exhaust the content you have, they will have no reason to pay for more. So you need to refresh your music library frequently if you want to keep customers once you find out what value you can provide over the customer’s lifetime; dang!
A pay-to-download no-code app
Have you ever come across apps that you had to pay a small fee to download? This is the business model, where customers are charged a fee for lifetime access to the app. This fee can range in prices from very expensive to very small. The downside to this model is that you can’t take advantage of how frequently the customer uses your app. It also means that you have to rely on income for each user once.
Creating an ad network with your no-code app
How many apps have you been on that didn’t serve ads? Not a lot, right? To illustrate how popular ads have become on apps, AudioMob recently raised $14 million to expand its work on audio advertising in gaming apps. Although this is not the most profitable way to make money with your no-code app, it’s one way.
The challenge with this model is that your income correlates with the number of people who use your app. The upside is that if you have a large audience, the revenue from ads alone can make you wealthy (hey, Instagram).
There are many other ways to make money from your no-code app, but thinking outside the box will help you create business models that are not highly competitive and will stand you out of crowd. If you're thinking about the best no-code tools to build your mobile app, we curated a our favourites here. You can also get on a free consultation call with experts at WeLoveNoCode, and they can share their experience from building profitable apps for over 2000 businesses.