Monetization models of an educational app

 An education app can prove to be a lucrative business opportunity. Create an educational app and monetize your app in the following ways.

Subscription

In the subscription model, you charge a fixed amount on a monthly or yearly basis to your subscribers. Subscription happens to be one of the most popular app monetization methods for education apps. This is because the learners get the flexibility of paying a fee on a recurring basis only when they are willing to avail the services. 

ABCmouse.com is an app that provides a subscription-based service. The app’s target audience is preschool kids. 

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Advertisements

You can decide to keep your app free and choose to earn money by selling advertisement slots. Many companies that sell products related to learning, like stationery retailers, school and college bag manufacturers and even credit card companies that target college-going kids, will be interested in advertising on your education app. When choosing advertising as your preferred monetization method, you need to ensure that the ads you place on your app match the intent of your audience. Otherwise, the audience will be irritated with your ads and would leave your app in search of less annoying education platforms. Duolingo is an app that uses advertisements as a revenue source.

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In-app purchases

You can offer in-app purchases to your users to generate revenue. The paid features can include special online courses that are not available for free. You can also charge the users if they want a course completion certificate while keeping the course free. This way, you can attract both free as well as paid users. The in-app purchases can also include buying access to one-on-one sessions with the tutors or unlocking advanced learning modules. Apps like Memrise and Brainly follow the in-app purchase revenue model.

Monetization models of an educational app


Third-party tie-ups

You can earn significant revenue through tie-ups with third-party products and service providers related to the education field. For instance, stationary product sellers, universities, schools and coaching institutes can sell their services and products on your platform. You can earn a commission on the sales that happen on your platform. 

Cost of building an educational app

Cost is one of the first things that come to your mind when you start thinking about how to create an education app? 

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Several factors influence the mobile app development cost. The complexity of the app, the number and type of third-party integrations that the app will require, the number of users that will access the app simultaneously and the UI/UX of the app are the technical factors that will affect the elearning app development cost. 

Factors like the location of the education app developers also play an important role in determining the final cost of the education app. If your education app developers are located in developed nations like the U.S.A and Western Europe, then they will charge around 5-6 times more per hour than the developers located in developing nations like India. 


Based on the above-mentioned factors, we can say that the cost of developing an education app varies in the range of $80,000-$200,000.

One must understand that this is just a ballpark range, and to know the exact cost of developing an education app, we recommend you to contact an expert team of mobile app developers. 

Taste success with an education app

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In this blog, we have discussed the basic steps that will help you create an educational app. We have discussed the various types of education apps, the cost of building an education app, the benefits of using an education app for the users and the monetization models of an education app. We hope that our comprehensive blog on elearning app development will help you build your own education app and enter this lucrative business. 


If you need guidance on your education startup or want to hire a leading education mobile app development company, contact us, we will help.

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