HOW TO MAKE MONEY FROM YOUR MOBILE APP?
What does mobile app monetization strategy draw?
We are into mobile application development services for almost 4 years which is why we know for a fact that one of the best businesses to be in these days is the mobile app business. Many entrepreneurs establish successful startups based on their new app ideas and getting millions of dollars in funding. On the flipside many fail too.
Which mobile app strategy draws the most?
Well, the answer is nothing specific. Every app is different and before taking your decision in building an app, a proper monetization strategy needs to be researched and opted to target your business objectives. The first thing we need to do is come up with a great idea for creating the mobile app. But the best way to come up with new app ideas is to find a specific problem and build a mobile app solution for that particular solution. While you’re brainstorming or trying to find problems to solve, keep in mind to identify a problem that you have experience with.
‘Tap a button, get a Cab’- That’s how Uber was born with this simple yet innovative idea. Identifying similar problems like this will give a head start in knowing how to come up with a solution. Additionally, remember that there can be multiple solutions to any one problem.
BROWSE THROUGH APP STORE
Next, think of keywords that are related to the categories which interest you. For example, you can search for fitness, diet, marketing, productivity, traveling, etc. Search those keywords in the App Store to check what apps return and what kind of solutions they present. Besides this, you can also go to the featured apps section in the App Store and see different categories of mobile apps featured in Google and Apple App Store.
KEEP AN EYE ON WHAT’S GETTING FUNDED
Find and go to startup pitch meetups and you’ll find yourself among like-minded people. To find local startup events, you can visit Meetup.com
By attending such meetups, you’ll get to hear some other people’s app ideas. And even if you still don’t come up with an idea of your own after attending meetups, you will at least become more energized and motivated to come up with one. Again, you can go to Kickstarter to find out which startups are getting funded currently. However, besides this, you can also regularly check VCs, accelerators, and other startup investors’ websites and blogs to find out what type of startup ideas they’d like to fund.
IDENTIFY, RESEARCH AND VALIDATE
You need to identify a lot of new and unique mobile app by analyzing the market. First, you can launch your application in a beta phase and make use of the lean startup methodology to ensure that your target market actually needs your application. Once you’ve come up with new app ideas, it’s time to do some digging before actually getting started with building an app.
Remember, this is the most critical and vital step which should not be skipped, as it makes sure that your money and time invested in converting your idea into a mobile app, will be well-invested.
FINALLY – BUILD AND MARKET
If your app has made it far, then your idea is a great one. So now start with mobile app development.
Go for a Native Mobile App or Mobile Web Application. Both looks and feels similar, but they’re quite different from one another. While mobile web apps might seem like a better option, but the truth is that native applications have better advantages over mobile web apps. For example, it’s easy to retain your users with the help of push notifications and sending out new deals and discount offers. Another advantage is that you can always track app usage easily by users and take feedback from them to improve your mobile app to their likings.
Now comes monetization- You can monetize your app easily by way of advertisements, charging membership fees, in-app purchases, and some other proven ways. Building an app is one of the best ways to get into the startup world and make money with mobile apps.