Make Money From Your Mobile Apps
With the proliferation of smartphones and mobile devices, the mobile app market has grown massively.
The vast majority of app owners have been making good money from their apps and some of them are even building thriving businesses. Industry experts predict that app economy will have impressive growth worldwide over the next few years.
If you thinking of developing my own mobile app: What are the main app models I can use to make money and how do I select the right one for my idea?
There are numerous factors to take into account when developing your app model but the two key questions you have to ask are:
1. What problem am I trying to solve?
2. How am I solving this problem?
Once you have answered these two questions, you will be in a much better position to develop a app model.
There are largely 6 monetizing app models that bring in all the revenue. According to Distimo's report, in-app revenue from free apps brought in the most revenue at 71 percent with paid revenues following at 24 percent and in-app revenues from paid apps at 5 percent.
If you launch your app using one of these monetization models, you have a greater chance at making more revenue than any other model.
Let's face it, you're not just building apps for fun. Building apps is a business and you need to earn money to keep going. But, with a number of options available for monetization, what tactic should you adopt for your app?
Being clear about the monetization model from day one will help to prove that your customers are willing to pay to solve the problem you've identified -- a crucial part of validating the app idea.
While there are many options to monetize, the way to achieve any kind of revenue growth through the years is through repeated transactions from existing customers as much as through new ones. The lifetime value of your customer will determine whether the app is a hobby or a business.
How do mobile apps make money?
There are a lot of effective ways to monetize apps, but it will take some planning and well-rounded marketing strategy.
Well, it’s time to reveal the truth behind app monetization magic.
Download now and find out what you need to know about each one!
To your success!