In the modern era of technology, there are many opportunities to earn money from apps and websites. If you sell things or offer services through your site or app, you’re already making money. You don’t need any other monetization method if your app solves a real-world problem and comes with amazing technology. However, even if you run a hobby blog or something similar, you can still earn money with some hard work depending on how many people visit your site (and other factors too).
As we enter the year 2024, the methods and opportunities for making money online from your digital platforms are constantly changing. Whether you’re experienced in business or new to the game, it’s essential to grasp the most recent trends and methods to make the most of your earning potential.
10 best strategies to generate income from your app or website
Let’s explore some important strategies for generating income from your app or website in the year 2024.
1. Monetize the website or app by displaying Ads/In-app Ads
Advertising stands out as one of the most popular methods for earning money through your app or website. Many rely on platforms like Google AdSense/Admob/Adx, which place ads on your platform and pay you when users interact with them.
The success of earning with Google AdSense depends on factors such as app quality, user engagement, ad placement, and targeting. It’s essential to comply with AdSense policies, provide valuable content or services to users, and optimize ad placements to maximize revenue potential.
From display ads and native advertising to video ads and sponsored content, there are various ad formats and platforms to explore. It’s a simple way to generate revenue while providing free content or services to your audience.
In 2024, Programmatic advertising is expected to gain even more traction, as advertisers seek to reach their desired audience more effectively while providing relevant content to users. In this kind of advertising, ads are bought and sold automatically. It is like a personalized and targeted way of showing online ads where machine learning algorithms are used to predict who might like the ads and when to show them. Ad Exchanges (Like Google Ad Manager 360)then decide the best places and times to put ads, so they reach the right people and get the best results.
2. Using in-app purchases is a great way to generate revenue from your app
n-app purchases can be a valuable revenue source for app developers, particularly in gaming and productivity apps. This method allows users to buy virtual goods, upgrades, or additional content within the app.
Providing in-app purchases allows developers to take advantage of user interaction and improve the overall app experience. Strategic pricing tactics and appealing offers may lead to more purchases, ultimately boosting the app’s earnings.
The Freemium model is the most common type of in-app purchase, where the basic version of the app or website is free, but you can pay for extra features or content.
Some examples of this are Grammarly, Byju and Coursera.
3. Earn income by offering subscription-based services
Charging users a subscription fee to access special content, features, or services has become more and more common lately. This trend is likely to keep growing in 2024. Subscriptions can bring in a steady income for developers.
Whether it’s a monthly, yearly, or freemium model, it’s important to offer enough value to make the subscription fee worthwhile for users and keep them coming back.
Subscription is the main revenue source for OTT platforms such as Netflix, Disney+Hotstar and Amazon Prime.
Also Read: What are some of the best mobile gaming trends in 2024
4. Make real money with Affiliate Marketing
Affiliate marketing is a win-win setup where app developers or website owners promote products or services from other companies. They earn a commission for every sale or lead that comes from their referral. Adding affiliate links or banners in your app or website can bring in extra money without compromising the user experience.
The higher the traffic your website receives, the greater the potential to redirect visitors to an affiliate. It’s similar to selling ad space: You require a substantial number of site visitors to make it a valuable source of income.
How Can You Increase Your Revenue By Integrating Qureka Lite?
QurekaLite stands out as one of the best solutions for earning money through your app or website in 2024. By integrating their URL seamlessly into your platform, you can start generating revenue without any negative impact on your existing earnings. The integration process is easy and hassle-free; simply place a banner, icon, or button, which requires only 20 minutes of your time.
In return, it boosts monetization and enhances your retention rate by 40%. Other features include transparent reporting, guaranteed payments in net 30 days, and high ARPU, making it the preferred choice for app and website publishers.
At this stage, you might have a lot of questions about QurekaLite – what it is, how it works, and most importantly, how to start making money with it. Visit Qurekalite to find out everything you need to know about boosting your earnings.
5. Generate additional income by Sponsoring Content
If you own a website/app, you can team up with businesses or brands to create sponsored content, but the content must fit nicely with what your app or website is all about. You can promote products, services, or brands through articles, videos, reviews, or social media posts that discuss what the sponsor offers.
In return for featuring this sponsored content, you’ll get paid by the sponsoring business. This payment could be a set fee, a commission, or some other type of compensation.
Remember, the sponsored content should be helpful or interesting to your users and match their interests.
6. Accept Donations from your readers for the good work you are doing
If you own a non-profit app or website supporting some social initiative or charitable cause, you can opt for donations on your platform. This kind of platform often attracts donations from users who support the organisation’s mission or goals.
These can include crowdfunding platforms, community service apps, or websites focused on activism and advocacy.
Additionally, other types of apps or websites that are more likely to receive donations include educational and learning platforms, open-source software and development tools, environment or sustainability initiatives, local or hyper-local platforms and health & wellness apps.
These platforms offer valuable services or resources that users appreciate and are often willing to support through donations to ensure their sustainability and continued impact.
7. Include a Directory Page on your platform to earn additional cash
If your website has lots of visitors and ranks well on search engines, it can be a great place for people who are interested in the same things you write about. This means you have a chance to make money by making a list of businesses related to your topic.
Think of a directory page as a large list of businesses in a specific area you believe your readers would find useful.
For instance, if your website is all about home decor, you could create a page listing home decor shops or interior designers in your area. As your site gains popularity, businesses might pay to be included in this list because it could bring them more customers.
To create a directory page on your website, you can use special plugins already available on platforms such as WordPress.
Also Read: Why HTML5 is considered as the future of online gaming
8. Make good use of your E-mail list to boost income
You can also earn money by using your email list, which you have created over the years. This is a long-term strategy for steadily growing your blog into a profitable business. Your e-mail list consists of your most dedicated readers. The goal is to turn first-time visitors into loyal followers who eagerly anticipate your latest content.
Make sure to build an authentic relationship with your followers. Offering valuable information or assistance for free is a great way to start. However, be mindful of spamming people with unwanted offers, as this can damage trust and affect your long-term success.
In the long run, you can use your email list to recommend products or services related to your niche and include affiliate links in your emails. When subscribers purchase through your link, you earn a commission.
9. Earn money online with Dropshipping
Dropshipping is an online selling method where you don’t need to store products yourself. When a customer buys something from your store, you buy it from a supplier who ships it directly to the customer. This way, you avoid handling inventory and shipping hassles, making it a low-risk option for starting an online business.
Your profit comes from selling products at a higher price than what you pay the supplier.
For example: if you own a home decor/interior designer blog, then select home decor or interior design products that complement your blog’s theme and resonate with your audience. You need to ensure to find trustworthy dropshipping suppliers offering competitive prices, prompt shipping, and excellent customer support. Then, incorporate these products seamlessly into your blog posts, providing captivating images and detailed descriptions. This way, you can earn a margin on the products sold through your website or app.
10. Create a job board to earn some extra money from your online platform
A job board is like a bulletin board where companies post job openings, and people looking for jobs can find them. You can charge companies to post their job listings on your board, and that’s how you earn money.
In case, you are running a gaming blog and your website/app attracts a lot of traffic, then you can create a job board related to game development and other related jobs. This way, you can boost your earnings with an already popular website.
Conclusion: How to earn money with your website or app?
In summary, in 2024, there are lots of ways for people and businesses to make money from their websites and apps. You can use things like ads, selling stuff in your app, subscriptions, promoting other companies’ products, getting paid for sponsored content, asking for donations, making lists of businesses, building an email list, dropshipping, or creating a job board.
It’s important to keep up with what’s new, keep coming up with new ideas, and make sure you’re giving your users something valuable. By doing this, you can make the most of your online presence and keep growing your business in the future.
