With a financial success rate of less than 0.01%, mobile apps are a business tool that require serious strategization, development, marketing and deployment endeavors to transform into a well-monetized business success.
If you are planning to build a mobile app, you would be planning to earn from it as well, in one form or the other. It is definitely not a bad idea. With global successes of mobile apps like Instagram, Snapchat, Facebook, etc. they are now definitely the most sought business option and tool.
But, earning from mobile apps is easier said than done. With more than 5 million apps already on app stores available for downloads, more than 30 mobile apps on an average already downloaded on each smartphone; it is a very tough fight for user attention and acquisition out there. So, you need to be on the top of your game when developing a mobile app. The following strategies can help you achieve just that and more:
Plan your app as per a thorough market research
Your app can be a monetary success, only if its intended users download it and make purchases again and again. So, your app should be completely user-centric. Check your market beforehand for:
- Any already existing mobile apps in similar contexts.
- What and how are they offering products and services.
- Analyze their market strengths and weaknesses.
This research will help you develop a mobile app that will be better than the existing ones, inculcating the strengths of the older mobile apps and some newer innovative ideas. You could also keep track of their monetization strategies and choose your as per your app idea and thought process.
Inculcate Varied Monetization Strategies
Do you know how long does it take to make an app and even after development, your mobile app won’t necessarily find investors or takers, the day it gets launched. Creating loyal users and viewers, is going to be a long painstaking process. To make this wait less painful for the businessman within you, you could choose to include various monetization strategies within your app like offering paid advertising options to marketers and other subscriptions options for users with added functionalities.
It is possible to develop an app and provide it to the users initially itself at a certain charge. It would certainly seem better to earn extra initially itself. But, it might not go down very well with your users. With most of the mobile apps offering free basic versions, the users are generally not ready to pay for a product or a service that they have not tried first. You could thus opt to develop premium or freemium versions with some paid aspects of the app to bring in sales numbers as well as downloads. Various kinds of promotional contents, can be included within the app to make it earn its ROI.
Do not neglect on the UI/UX aspect of your mobile app
Whatever be your choice of app development technology platform, your mobile app’s UI/UX is its front page and first impression. It needs to be impressive enough to promote more downloads and initiate the user to open apps again and again. It also will help you to gain better reviews from the user and your mobile pap, will thus rank better on the app stores. While drafting your UI/UX ensure:
- To try and take guidance from an experienced UI/UX designer
- Keep things straight, simple and clear
- Do not clutter your app with unnecessary content or buttons, functionalities, etc.
- Keep things light, in order to ensure your app loads as fast as possible for the user.
Try to make your interface as user-centric as possible, in order to avoid updates and changes later.
Marketing is also an app requirement
How good is a product, until it gets found and brought by its intended customers. You need your mobile app not only to get developed, but also reach its target audience. For that to happen, you first need to make them aware about your market presence. App Store Optimization and other app marketing strategies ensure that people come to know about your app as well as its products and services.
There are many small companies and startups who tend to undermine the importance of marketing and ace marketers in the process of app development. But, futuristic entrepreneurs know and understand the importance of marketing and user acquisition. More corporations are thus known to spend close to half of their app development costs in marketing. If not that much, but do set aside a certain percentage of app development cost for marketing before and after launch.
Every Brilliant Idea Needs Brilliant Development
A successful mobile app is not the one that is sold to an investor in the idea phase, but the one (with or without raised money) which is painstakingly developed by an ace mobile app development team and then launched, marketed, maintained within the market circles. The mobile app then matures as a business which is able to reach the daily usage of all smartphone users. The above stated strategies, if executed well, can help your app feature in the rare successful mobile app lists of the well too.