If you are looking for a profitable app niche, this is where you should start.
So many people miss this critical element and end up wasting a LOT of time and money chasing losing numbers.
Are you getting some traction on your paid app but can't seem to get any in-app purchases?
Or are you not getting any traction at all?
Chances are you're trying to capitalize the wrong type of market with the app you're using.
Here's a video that may help you clarify some topics around market research:
What you need to know:
- There are two parts of any app “funnel” – a front end and a back end. The front end is when you make money on the initial user experience (paid app). The back end is when you make money after the user has used your product (in app purchases, subscriptions, physical products).
- If you are going to sell on the front end, you need to find people who are passionate about a topic. They need to be so emotionally charged when they see your iTunes Connect page that they immediately purchase. They will probably be low quality users because they don't actually need the app, but you make money on getting MORE users.
- If you are going to sell on the back end, you need to find people who have clear needs. This can be people that need to buy products, people that need to be entertained or people that need some sort of service.
Making money on the front end is typically quicker and easier…but will result in lower dollar amounts.
Making money on the back end is harder and takes more time…but will result in much larger dollar amounts.
When you are picking your market, match the people with the proper point of monetization.
Then focus your entire business on that.
Lots more to come in the next few weeks around these topics!
Comment below with comments and questions.
Rock & roll,