Owing to the massive internet penetration and advent of technologies, the limitations of physical barriers have reduced significantly. People are going to different countries for education, employment, travel, etc. In this case, learning a foreign language can be highly helpful. Even if you are not going anywhere, you can learn another language and boost your vocabulary and learning skills. And, you do not have to go anywhere, thanks to the language learning apps.
These apps allow you to learn different languages from the comfort of your home. If you are a multilingual person, then you just need to create a language learning app and teach students their preferred language. This way you can start earning from the app. There are different ways through which you can make money through these apps. And below, we are discussing some of the best options to monetize your language learning app.
1. In-App Purchases
The in-app purchase model for your language learning app allows the users to access a lot of services for free. However, you make valuable services paid and encourage the users to pay for them. In the case of a language learning app, you can provide users with rewards or coins when they complete a batch of learning.
These rewards or coins can be used to unlock various modules. But users who are unable to win these rewards can purchase the coin by paying for it in real money and proceed with further stages of the course.
Adverts are one of the popular monetizations means that many online apps leverage to gain revenue. The online educational landscape is a high-traffic ecosystem where everyone is trying to gain adequate visibility to make them a big brand. By allowing them to be visible on your app, you can make revenue.
3. Data Monetization
The notion of data monetization is tremendously gaining traction. This is because big tech-giants like WhatsApp and Facebook are using it to collect, collate, and filter results and insights through customer data. Thereby, during the student’s enrollment process, you can ask for their academic, demographic, and orientation details.
These points can be used to draw vital interferences, which can be churned to important information as well as conclusions. You can use this information to extend more data-centric offerings, thereby generating greater earning probabilities. Furthermore, you can also send the information to a research agency to facilitate data aggregation and analysis. This can also be a great source of income for you.
4. Make The App Paid
This is a straightforward way of earning from your language learning app. In this, you ask the users to pay a particular amount of money when downloading and installing the app. You can fix the price of the app by analyzing the existing trends and examining the competition. Considering these factors will enable you to price your product properly.
The price of your app should complement the features and services that you are offering in it. If you place the price too high, people will not buy it as they have other affordable options. And putting the price too low means you will not get the desired profit.
This model is a combination of free and paid models. In this, you allow the users to access some parts of your apps for free. It may include some orientation level modules, basic features, etc. However, the users have to pay a certain amount to access more advanced learning resources or elaborated versions. You can make the pricing on the basis of subscription or convenience fees. There are different ways by which you can offer the free part of your app, including trial, preview, or except the services.
If you have a strong hold on different languages, then it could be a great way to earn money by creating an effective language learning app. And above are some effective ways through which you can monetize your app and gain the desired revenue.
If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.