Five ways you can make money from a fitness app
Smartphones, laptops, and wearables have made blood pressure, pulse rate, and move calculations simple and accessible to consumers.
A smartphone wellness software will serve as a personal mentor or a dietician in the user’s pocket, guiding and tracking their workout habits everywhere they go. These applications can assist users in sticking to their schedules and achieving their fitness goals. The global fitness app market is growing as smartwatches, smart bands, smart rings, and wearable devices become more common.
This market was estimated at USD 3.15 billion in 2019, according to a report conducted by Polaris Market Research. Smartphones triumphed due to the affordability and adoption in developing markets, and the global fitness app market was dominated by women.
And if you were searching for the details on how to create a fitness app it is more than essential to learn how to get profit for this venture.
Five ways to make money from a fitness application
Here are five ways to make money from a fitness application.
1) In-app purchases
More workout runs, celebrity tutorials, healthier eating recipes, extra app functionalities, and more are all available in-app transactions inside a fitness app. Users can also select from a variety of contracts, each with the option to upgrade or downgrade.
Auto-renewable subscriptions, for example, have access to regularly updated paid software content or features for a set period. Until the user manually cancels the subscription, it will automatically renew. That way, they won’t fail to pay for the material and features they like.
Offering individual pricing packages and a single luxury bundle incorporating both of the offerings is the most profitable model. You can also allow smartphone users to buy physical products directly from the app, such as athletic equipment or foods. Providers of health and wellness programs will incorporate in-app billing.
2) The freemium model platform
Consumers may use this model to “test before they buy.” They get a trial version of the software that only has a few simple features. They can pay for the premium product package if they enjoy it and want more, such as customized workout schedules, more features, or the ability to remove advertisements.
It’s a matter of carefully deciding which app functionality to make available for free and which to charge for. The bare minimum of free options should give consumers a preview of what your product can do, while paid features can round out the experience and make it worthwhile for them to pay.
3) Sponsors and partnership
Partnerships with fitness companies, gyms, consultants, celebrities, and others are all part of this business model. Fitness coaches and influencers, for example, can build and share informative content from your fitness app. If your partners recommend your app, their fans will likely download it as well.
A relevant firm may sometimes serve as a single advertiser, selling goods or services to app users. A splash screen, push alerts, and other methods can be used to display a sponsor’s logo and other branding features built into the app’s architecture.A winning card in monetizing your mobile app is forming a partnership with a major brand, particularly if you can create an optimized app experience.
4) Paid downloads
Users may be willing to pay to install the software before using it. The cost is determined by the app’s category, mobile device, and content. However, this model does not seem to be popular among fitness app publishers at the moment: the best exercise applications, for example, are either free, subscription-based, or freemium apps.
5) Ad-based app
Native, short videos, and incentivized advertisements are the most common types of mobile app advertisement, while interstitial and banner ads are the least successful. Efficient Cost Per Mille (eCPM), Cost-Per-Click (CPC), and Cost-Per-Action are the three most common business models for mobile ads (CPA). Just when a customer clicks on a smartphone app ad, does the CPC model award the app publisher.
CPA demands that people who see an ad take action, such as downloading a smartphone app, subscribing to a subscription, and so on. Since it is not dependent on whether or not people engage with an ad, the eCPM model is the most profitable. It can go without saying that having a broad user base is essential.
App publishers may benefit from lead production in addition to collecting commission fees. App consumers involved in particular services or goods may have their contact details captured by mobile applications. App owners may be compensated for providing this information by sports gear suppliers or other interested businesses.