How To Create An App And Make Money?
One of the greatest inventions in modern times is without a doubt the smartphone; they really are the best. They can store thousands of pictures, videos and information all whilst giving you access to hundreds of thousands of applications (or apps). There are apps that can assist with daily tasks such as counting steps, ranging all the way to apps that control your bank accounts. Somewhere in the middle though, are the apps that make money for the developer. This provides a unique option for you as the one with an idea of what a great mobile app could be. Today, the topic of discussion will be; which apps to go for and how to generate income that is passive and serves you over time. Let’s begin.
It Starts With An App Idea
Like any profitable business, creating an app begins with that spark of imagination that you have to put forward something unique and beneficial that you feel customers will want. The first step then is to jot down any and all ideas you have, big or small. They could all be useful. Take inspiration from other apps you already use to fuel your creative juices.
Once you have an App idea – define it.
Give your app a category. Will it fit into the fitness niche? Is it a language tool? Or a game? Outlining where your app slots in real help drive the focus forward for your project.
Once this is in place, start looking at the monetary side; devise what you wish to get out of this app. Obviously, overnight success is unlikely, so therefore it’s prudent to forecast for long-term gains rather than a short-term scope. As before, look to other, similar apps and get an idea for their business model; look for the following;
- In-app purchases
- Subscription model
- One-off upfront payment
Most apps are free to download; however, the real money is generated through in-app purchases. As an example, King Digital Entertainment’s Candy Crush earns $1.6 million daily through in-app purchases. To compare with a non-gaming app, Kim Kardashian’s virtual shopping app has brought in a reported $100 million since 2014 from 42 million downloads.
When looking at a subscription model, Tinder is one of the best apps for this; it’s free to download again, however, there are bonus features such as “unlimited swipes.” This gives users a true incentive to purchase this, as it’s something they very much need.
It’s therefore important to build an app using the mindset of users. Plan a flow chart which begins with “IF” and list variables. Taking Tinder as the example, the option would state “IF users want unlimited swipes”. Move this on to the next stage which begins “THEN”. Following on from our example, the complete statement would read; “IF users want unlimited swipes THEN offer a subscription model which allows this.”
By contrast, a paid app is a route that can be explored, which can garner a more loyal fan base. Here’s how it works; the theory being, if users are willing to pay for this service upfront, they are more likely to keep the app and use it accordingly. This can lead to further purchases in-app, as there is a trust that has been established already with the buyer.
Ads
A final route to money making through mobile apps is the use of advertisements. They’re extremely easy and convenient as they can be situated in a multitude of places including;
- A showcase banner within the app
- Video apps
- Interstitial
The idea here is that you would partner with a certain network and traffic driven to their website through your app would generate revenue.
To review then, the app market has experienced a vast amount of growth since inception, and it shows no signs of slowing down. There are of course a plethora of apps and it’s very competitive in the marketplace, but don’t let that deter you. With such a wide range of tools at your disposal, it makes sense to enlist help along the way, so that you can be successful in your approach. Gomeeki can offer the advice and assistance you need in order to transfer your great idea into a tangible money making tool.
Why not see what our customers are saying about us and how we approach your app development project.
Our fast growing team of 40+ app developers have experience across iphone app development, Android app development, native app development, responsive websites, system integration & cloud technologies. We will tailor our approach to suit your needs.
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