Today, we have many types of mobile devices and mobile Operating systems. App development is turning to the most profitable business than ever. Five years ago, the app developer had a very limited choice of mobile OS such as BlackBerry, Windows OS, and Apple. Now, we have many new mobile platforms and their different versions. The concept of cross-platform formatting of apps is becoming highly popular. The department of mobile app development is like a treasure for the developers to make the decent and fair sum of money every month by the way of creating and developing mobile applications.How is it profitable to develop a mobile app? Here are the ways how people can make maximum money through mobile apps.
Most successful business
The major app stores such as the Apple App Store, Google Play Store, RIM’s App World, the Nokia Ovi store, and so on, they have already billions of dollars in terms of profit over the past few years. Recently, mobile apps have coma up as one of the best and easiest ways to sell products and services, advertise, encourage social media activities, and generally, mobile apps encourage mobile users towards maintaining brand loyalty.
The mobile app development is a wide-spread market and it offers a great opportunity for the app developers and the depending companies to succeed in the business beyond their expectation. They achieve profit by investing very little amount. Angry Birds is one of the popular games, and the entire crew of the app maintained their huge popularity among the masses.
There are many apps, which have achieved huge success, but this game app has been one of the top-selling apps. This game has created the maximum amount of revenue to its developer, Rovio.
Secret behind mobile app success
There are many popular apps available in the market. And over millions of people use them.
But the fact is that only a few apps have the capacity to generate high revenue as the biggest players in the market did. The true reason is, the company need not bother about their lack of insight.
Think of Angry Birds once again, the developer of the app has released the free version of the app for the Android platform. And this version also had the advertising bar and this is the area where most of the actual revenue came from. Later the company started to earn more revenue from the advertisements and less from the actual sales of the app.
The success of an app comes from the number of people using it, we can’t refuse this point. In the case of Angry Birds, Rovio has years of experience in the app development process and it also the well-established company too. The main aim of the development teams is to focus on engaging mobile users, for which, they tried to develop a game that would encourage the users to use an app frequently. The company started the process with the regular app updates and they released the free version of the updates. They were accepted largely by the audience. Now, Angry birds is just a step above the normal app. It has become a brand name and it has fans all over the world.
Convert mobile sharing to an advantage
One of the great ways to achieve success in the app marketplace is to develop mobile social apps. This motivates the users to share their information with their friends online, this can be done by investing little extra work than the app developer. Social media apps such as Facebook and Twitter are the best example of such apps. As far as the mobile social gaming is concerned, the developer will provide the user a completely ad-free version of the game at a normal fee. Some games have an idea to make money by encouraging the users to purchase the virtual cash or enhanced game features for the small sum of money. This technique is an effective one and it takes a lot of effort and time on the side of the app developer.
Building partnership with mobile brands and carriers
It has become for the mobile app developers to build a partnership with the mobile brands and carriers to launch and release their app with them. This could result in the win-win situation. In this case, the app developer could enjoy only a fraction of revenue.
Each of the brands and carriers will have their own conditions and restrictions regarding the look and feel of the app. This could result in suppressing developer’s creativity but, this is the great opportunity for the new app developers to showcase their work and receive special notice from the app marketplace.
Freemium for apps and games
This is not the well-known monetization option for apps and games. This method will bring more revenue to the developing company. In the case of in-app purchases, 76% of the revenue comes from the App Store in the US.
A freemium app or game is offered for free of cost to the users with the defined features, content and virtual goods. Users can access the premium version of the app through in-app purchase. It removes the price barrier for the people to download an app and it provides an opportunity for the company to prove and value their product.
One-time paid apps
In this case, users have to pay once to download the app. All the updates and additional features are available for free of cost. If the company decides to launch a paid app, they must consider, whether all the customers can adapt to it. And also make sure there is no repeat revenue from the existing customers. For increasing the revenue, the companies must focus on the new customers each time they launch an app.
So, how to determine whether the app should be the paid one or not? In the first download, most of the apps will offer the core value, later they will have minor additions or designs and it will be followed by usability engagements. Most of the utility mobile apps fall under this category.
Paid apps with additional features
This method comes under the hybrid monetization model, which has gained popularity recently. Many of the users feel that it is unfair to pay and download the app and then pay even more to access the additional features. It is a hectic thing to build an app under this method. But if is done with a correct proposition, it may hit success. But the suggestion is, try to avoid this type.
Free apps with advertising
Some of the options at least require one-time payment; the best method above all is offering free apps with advertising. Many successful apps follow this model of monetization. For example, consider the Sleep Easily Meditations app, it cost no money to download and it operates on non-intrusive advertisements till the end of the app’s lifespan. This app receives about 350 downloads every day and it runs for nearly 20 minutes every time it is used.
The companies can money when large numbers of people use the app on regular basis. For prolonged usage and to make more downloads, the best way is to use this app.
The endurance value of the customer will determine whether the app is a hobby or business.
Anand Rajendran is the CEO and co- founder of Snoota, a company that develops mobile apps for Andriod and iOS users. He has a passion for creating new apps with cloning scripts which exactly satisfy the needs of both business owners and customers. Snoota offers software products that are built with Airbnb, Uber and other cloning scripts.