Everyone wants to make money from apps but do they all have right strategy helping them generating desired revenue. This post explains how actually you can make money from mobile apps.
Those who do not understand mobile app market think that mobile app development is an instant way to become millionaire. Think this way too – there are more than 1.5 million apps on iOS App Store and more than 2.0 million apps on Google Play. Both are big oceans and it's quite natural to get lost there.
But you want to make money from your app and for this specific purpose, all you need to do is learn how it happens.
Once entering this domain, we can see that developers are trying their best to make money from app by applying a number of ways. Some of them favor in-app advertisement while others are selling consumer details to third party providers. Many believe in-app purchase works better because apps can be provided for free but to open its premium features, users will need to make a payment while others are putting a full, paid version of their apps which can be bought by paying only for single time.
Still, things are not turning in favor of developers and we can easily guess the level of difference by the Gartner's estimation that says only 1% of apps have been able to make good money so far and this will wear away to 0.10% by 2018.
Mobile app business doesn't seem to be sustainable particular for independent app developers. Because they don't have too many apps, they doubtlessly struggle to survive in the market.
So if you are planning to investment in mobile startup or establishing a business around mobile, let us help you come out with a strategy of app that will really work and that will generate revenue to stay in the business.
What's you niche
It will be difficult to compete in a niche in which big brands like Google and Facebook do already exist. You have to do something different. You have to find a niche which does not have good apps so far. Also, you have to be passionate about it and to keep focus on it.
Design, Develop and Deply it quickly
If your design is ready then the next thing is that you build it as quickly as possible. Do not let the development span to months and years because trend changes here quite rapidly. You cannot also make such app in the first attempt which every user was looking for. If you are trying to bake it on the first run, you are wasting time and of course money, too. Let users use the app and demand more things in it. Consider the reviews to your app as the primary source of information telling to you the future improvement to be made. Do the updates, changes and refining accordingly. And yes implement things quickly, even changes suggested by users in their reviews.
Use the best of the back-end services
You will also need back-end services but if you think that you can do it through making own server, it's going to be big mistake you will do. You can rely on third party servers, instead. Because they have full focus in providing professoinal services for servers, you hardly find a downtime.
On the other hand, you will need to manage a lot of things and if you also manage the servers, you will be trapped in unnecessary tasks. Maybe you would not be able to fully concentrate on key things.
By relying on a third-party provider for servers you can keep complete focus on the actual build of the app.
Monitor adoption of the app
Once you have implemented it, it's time you monitor how much traction your app has been successful to create. Do not only focus on the number of downloads but also on how many users have discarded the app after downloading it. Whether ad placement or in-app purchase is generating good revenue or not?
If things heading towards right direction, you may invest more in refining the features and functionalities and if there are shortfalls, mark the areas where things can be improved. If app is not performing well even after a lot of work, assess whether it's good idea to invest more or not. If figures say to back out, don't mind in doing that.
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Source: How you can actually make money from mobile apps?
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