How to Make Money from Apps
Yes, there are a lot of apps out there that mostly sell your app idea. So how do you compete against them? Ideally you should come up with an irreplaceable problem solving app or an ingenious idea that hasn’t been launched before. Innovation being the key, but given the condition that your app is competing against an already existing idea in the market, here are a few tips and methods you need to employ to ensure you are able to monetize it to the max.
1. Offer them Freemium!
Apps that can be downloaded free are called Freemium. They are high revenue generating option cause of in-app purchases. Even though the user may download the app or the game for free, they are limited in features and content thus the users are bound to pay for complete use or functionality of the app. Once the users and consumers get a basic free version of the app they are highly likely to pay for additional features, content and virtual goods. Thus the idea of a monthly subscription also works with this method. These in-app purchases generate a high percentage of revenue in the apple App store in the US and in the Asian markets.
2. One-time paid apps.
Users pay to download the app or a game. It is a direct and upfront way for users to get the real deal with updates and added features included within the download. The only reason why it is not a very popular option is because it holds a resistance for the users to pay immediately. To launch a Paid app, make sure it is flawless, compelling and so useful that the users don’t mind paying instantly.
Here utility apps work the best. The trick is to know where to place your app, it should promise good value for money in its first download with a great design and usability, otherwise this method won’t ensure a continuous revenue stream.
3. Market it extensively
When you offer your app the right visibility, it is the first step of promoting your app for more sales and downloads. When you blog about it to the right publications chances are optimized for more users to know your awesome app/game exists. Use all platforms, be it teaser videos, launching a micro-site, branding your app right or blogging profusely for existing users or to loop in new, create a hype and incentivize people by sharing your news, updates on all social forums. By creating the right marketing strategy you are leveraging its presence and raising every possible chance for it to raise its revenue.
Even if you have a brilliant app launched, if you aren’t going to scream out its presence it will be a miss. So make sure you are persistent, determined and highly active on the blogosphere and interactive with real users. By reaching out to them, even for customer service and showing you care, you are automatically raising ratings and winning hearts. Analyze users behavior patterns and request feedback.Monetization of your app and game, needless to say mostly depends on the utility of it. If it is useless, bland or unappealing visually or at its purpose, even the most ingenious marketing strategies will limit it’s popularity. It is all a matter of doing your homework well, knowing your targeted audience, understanding their needs and following the right strategy for it’s marketing.