Are you wondering how software product owner earns money? Here are the different ways to earn money from your Website, App, or other software product or service.
1.Monthly or Yearly subscriptions
You can charge the user for using your website or app periodically. Nowadays this type of business model is used by most companies. If your software provides value to the user or business and can be used daily or weekly this is a suitable business model for you.
Subscription-based software examples:
- Netflix
- Microsoft office 365
- Spotify
2.Freemium Service
In the freemium service model, some software features are provided for free, and other premium features are locked. To use premium features the user has to pay for premium features. By giving free features it makes habit for users so they come over and over again to use the software. When a habit is formed and customer data is stored in the software users subscribe for premium features.
Freemium Software examples:
- Evernote
- Canva
- Figma
- Freepik
3.Advertising
When a website or app has daily thousands and millions of users then advertising is the best option to generate revenue. Ad is placed on the website or app for branding or generating leads for clients. This business model is suitable for content-based sites or social media.
Companies using Advertising models:
- The Wall Street Journal or other news sites
- Blogging sites
4.Affiliate marketing
Affiliate Marketing is an online marketing business model that rewards independent affiliates for advertising products and services of online vendors. It is a type of performance-based marketing where marketers advertise products and services of others to earn a commission on each sale generated through their efforts.
Affiliate marketing is used by blogging and news websites.
5. One-time software selling
If you have a desktop-based application or backend software service this option is good for you. This business model is mainly used for offline software like Operating Systems, Database Services, Video Editing Softwares, Data recovery software, etc.