How to Make Money from App Development

There is no doubt about it, we have arrived at this new age of mobile computing heavily dominated by smartphones and tablets with mobile applications gaining popularity.

Mobile apps are now the new big thing. It presents a huge opportunity and everybody is trying to take part in it; that's why there are an infinite number of apps in the market today. A lot more are being developed every day. These numbers alone prove how profitable it can be. The same numbers also show that competition is clearly stiff, and sometimes cutthroat, in this industry. Since success means profitability for most developers, here are some fool-proof ways to make that happen.

Create an innovative app

mobile app innovationThey say there is no recipe for success, but in mobile app development there is and it starts with a good idea. It all comes down to a really good product. One cannot move forward in this industry without a solid foundation that is a good app. As they say, you cannot go wrong with a good product.  In the sea full of millions of apps, be sure you will stand out. Painstaking ways and means must be taken to ensure you have a goldmine product in your hands. Some of these steps cannot be hurried, like coding and testing. So, take time to develop an innovative, engaging, and usable app to increase the chance that you product will do well. Be guided and inspired by the current trends and follow the guidelines set by your chosen platform. You will see how a good app will rake in profit for the developer and the company.

Promote your app

Now that you have a high quality product, let the public know about it. Most app stores offer in-house advertising support in the form of daily new apps features, so this is one good thing. Publicity is vital to the success of the app, so plan some ways to give it the maximum visibility. You may create a great marketing strategy all over it. Start with some press releases, be active on forums, use the social media sites to introduce the app, and also hold some contests and offer deals. Ultimately, promoting your app all out is part of the master plan to also make it visible to interested partners, businessmen and investors.

Connect with existing businesses

mobile app connectionIncrease the chance of more sales for your business by making an app related to it. For a real estate business, a good extension app would be a property search app to make it easier for people to go house hunting. For retail business, a good way to drive consumers is to make shopping easy and hassle-free for them. So a good accompanying app would be about exclusive store coupons and deals or a lowest price checker to underscore what a good deal they are getting from your store. Another example is if you are engaged in financial services, great app ideas include an app that would address customer service interaction better and increase efficiencies by providing data on mobile. These kinds of mobile apps may not be able to directly generate revenue, but they will provide ways to drive more sales to the primary business.

Find partners

If you don't have an existing business that can provide a launch pad for your mobile app, partner with existing ones that can benefit from your app. This is actually now being widely practiced, especially with mobile brands and telecommunication providers, where mobile developers release their apps. This arrangement is beneficial to both parties. The app developers will be able to piggyback on the popularity and advertising reach of the partner business and at the same time enjoy some revenue. With the partnership, the business will be able project an image of being able to keep up with times as mobile apps are all the rage and also gain part of the revenue from the mobile app profits.

Integrate in-app purchases

in-app integrationYou need to work on the pricing strategy of your mobile app. Will it be a paid app or free app with in-app purchases? If the latter is your choice, it can indeed get you some more revenue. In-app purchases are more commonly used now because of the profitability it brings. This type of app is most popular to the mass market who wants free apps. Cost-conscious end-users would likely use your app, as it will only cost them if they want more than what is being offered for free. This works very well in gaming apps where you can buy extra lives or money to be able to continue in the game. With paid apps, you can only get money during the download of the app which can be limiting. With in-app purchases, it is a recurring revenue and the projected profit is unlimited.

Allow advertising

With the growing popularity of mobile apps, more and more businesses are also exploring the option of advertising through them. Mobile ads are the most obvious way for mobile apps to earn revenue. Businesses who want to reach a niche consumer who heavily uses their smartphones and tablets can communicate to them through ads. Mobile ads are cost-efficient and can be your best marketing vehicle. For the ads to be effective, they have to be properly positioned without being obtrusive and provide benefits like value and convenience. Another way to drive ad revenue is through a “remove ads” option. This is the complete opposite of advertising and is incredibly simple but it actually works. Consumers love being able to control and customize their experiences. You will also be surprised to know that a lot of users are willing to pay a small amount just so they can enjoy the app without distraction. It was also noted that this option was one of the most common request of users of apps with advertisements.

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