The following is a guest post by Mehul Rajput. Mehul is CEO and Co-Founder of Mindinventory, a leading mobile app development company specialized in android and iOS app development.
There is no magic wand that creates miracles to make your app successful in terms of making money, but there are effectual factors that help you to earn good revenue from an app development. With the right effort as well as smarts and hard work, there are certain ways to lead you toward success, if you are looking to build a mobile app startup that makes money.
According to IDC, around 156 billion apps were downloaded in 2015. The intricate thing is only a quarter of the apps were opened hardly once after its downloading. The difficult situation for developers to survive in this situation seems like achieving impossible mission. In the app store where there are mostly free apps and the average app cost is around $1, the ratio of paid app is only around 10%. Even though, such complexity and challenges, it becomes feasible for app developers to make money by comprehending key aspects for building mobile startups that help in making money, profitably.
Based on this survey, it shows the highest earning of developers using mobile platforms in which % of developers having $5k+ earning per month per app are iOS (27%), mobile browser (22%), Android (16%), Windows (8%). App categories in which developers earn most include enterprise (29%), other (24%), business & productivity (23%), health & fitness (23%) and social networking (22%). Moreover, revenue model in which developers earn highest includes per device royalties (32%), contract work (30%), e-commerce (29%), subscriptions (29%), and CPI programs (28).
Thus, it becomes a significant matter for a developer to make a mind for developing an app in order to generate respected revenue. Here we are discussing some important points that help developers to understand some key factors for their query – how to build a mobile app startup that makes money.
There are no certain success tips or tricks to make an app successful. For developing an app requires thoughtful research from the commencement stage. Size, type or investment makes no impact on app success. When you want to create a top-selling app, you need:
Things to Consider – Prior to Starting Your App Development
- Do thorough research to validate your idea. You can use the Google keyword planner to identify people’s choice. It gives an idea regarding how many people are looking for an app that you are going to build.
- Moreover, you have an option to design an attractive landing page to seek the interest of your targeted audience.
- Compare similar popular apps and what features make them popular. Always check the demand of an app in the app store that you are going to develop. Reading end users’ minds and understanding their expectation leads you toward gaining popularity.
- Understand the latest market trends is very important; try to ensure the category for which you make an app matches with the users’ requirements. Does your app have unmatched features and functionalities compared to similar existing apps?
Identify Helpful Factors to Develop Profitable Apps
Any mobile app gets success only if it obtains position in the first 20-30 apps listed in app stores. No matter how small or big the size of your app, with efficient and proven efforts, you can create a quality app and make your target audience known.
- When developing an app, you need to consider its best performance that includes app power consumption, memory efficiency, low memory warnings, and many more. Remember, apps having low battery usage get more popularity.
- When it comes to providing advanced features to attract users, you should ensure its compatibility with the mobile platform. If your mobile platform does not support the feature, it creates the wrong impression in users’ minds.
- Always ensure fast loading of your app as mobile users are less tended to wait while loading an app.
- When it comes to selecting a design theme for your app, you need an expert app designer who comprehends the concept and gives the best UI/UX design solutions to allure users to download your app.
Make Your App Popular
- Once you get approval of your app and it gets published in the app store or play store, you need effective promotion. Normally, the app stores frequently highlight new apps, but you don’t want to depend on the play stores.
- With a splash page you can divert more traffic to your app. Moreover, you can create a website providing information about the latest features and benefits of your application. You can also link it with your social media networks to create quick awareness.
- You can start promotion using an attractive video to inform your users about your app and its functionality. You can inform that it’s in the development stage and also ask users to give their suggestions. This way you will identify the interest of your target audience and their expectations. Thus, you can make your app popular before its launch and make your audience eager for its quick launching.
- Use analytics that help you to understand user engagement, download ratio, retention and other information using different criteria. This helps you to strengthen your promotional activity.
- Reply to any suggestions, feedback, or reviews by users that help you to add/remove or update any features in the next version.
- Use email frequently to show updates or new version information. It helps you to stay connected with your users. Press releases, articles and blogs, video clippings, and forums are another important way of marketing.
Free Apps Can Also Generate Revenue
There are several revenue models you can choose such as advertisement, in-app purchases, off-selling consumer details to a third party, and many more that help you to make money even if you are making a free app.
There are certainly several ways that help you to make money from building a mobile app. You need to choose the right platform, profitable revenue model, veteran app development team with marketing/cross-platform development capabilities, as well as find your niche, app category, target markets, and end-user requirements based on your app concept. Validating your app concept and its appropriate implementation, choosing an appealing design theme and engaging user interface highlight the success of making money from building a mobile startup.