How Much Can You Really Earn with Your Mobile App?
You are absolutely right if you think the mobile app is a serious business and there is great earning potential with an app. Yes, literally billions of dollars are being earned by mobile apps. But if you think most mobile apps have a share in this you are terribly wrong. Only a handful of apps it as long as they inspire you and can make you learn a few things. Before going into the earning figures of few successful apps in recent times let us furnish a big statistics on the app business and its overwhelming growth. Mobile apps made an estimated earning of $25 billion in 2014 which is expected to reach $46 billion by the end of this year. So, the app business growing in leaps and bounds.
But there are few important things that you need to consider. First of all mobile platforms are not equally potential to make a decent earning and naturally, you need to prioritize among them while building your mobile app. Secondly, the app universe is rapidly proliferating to allow penetration into other device platforms like wearable and smart home interfaces. Thirdly, while you need to make your basics right like the app store optimization and a good pre-launch campaign, you also need to keep your eyes open towards the emerging avenues where most of your competitor apps are focusing and getting results.
So, are you prepared for the battle ahead? Do you think you have all that it takes that make a great idea bear million dollar fruits? All we can say keep patience and learn from the mighty ones before making your strategy.
Read this : Benefits of developing mobile app for Business
Prioritizing the platforms
As we have already told all platforms do not offer the equal earning potential and so deciding which platform you want to start with can be crucial for your app. If we consider on the basis of a number of developers earning more than $5,000 per month from their apps, iOS comes at leading position with 25% of iOS app developers earning more than this figure in a month. Android follows the lead with only 16% of developers coming within this earning bracket. iOS not only enjoys the highest penetration but it also has deeper acceptance and loyalty among high-spending user segment. Android, in spite of its mass market appeal, is still a player with volume-wise focus. Blackberry year after year is lagging behind in popularity as well as penetration. Windows in spite of the weight and brand strength of Microsoft still has a very limited market share.
For a developer, it is always advisable to opt for another platform only when the earning and moderate success is ensured with the previous one. You need to prioritize a single platform and then upon receiving a certain success can move on to the second and so on. Both for resource management and maintaining focus prioritizing is highly important.
Read this: How to Reduce iPhone App size?
In-app sales: learning from successful apps
What is the most successful app niche as far as earning is considered? I guess everyone is ready with the answer in his lips, video games, right? After the explosive success of Pokemon Go, we hardly can doubt the kind of thing mobile games can do. Even if you look at other video game apps, several of them are pretty ahead of most successful apps of other niches. Clash of Clans made revenue $1,118,457 followed by Candy Crush making $884,676 per day. Do you know where does most mobile game apps make money? Well, it is mostly through in-app purchases. So, while offering game apps for free became almost a favorable norm now, developers are gunning for profits through within the game purchases. Even when you are not building a game app, associating gaming can open the floodgate for in-app purchases for your app.
Well, the overwhelming success story of video gaming apps can largely be attributed to in-game sales revenue. Most successful gaming apps excel in this area. Naturally, even when you are not particularly producing a gaming app, associating with gaming or adding game attributes can open the doors to in-game purchases. Moreover, in-app purchases allow you to offer your app for free while securing the revenue through robust within the app sales. This is one area that most apps are going to implement for a steady source of revenue and in the future, the in-app marketplace can even challenge other marketing channels.
Building apps beyond smartphones
While smartphones have long been the epicenter of control for most apps, the other contestant interfaces and device platforms are emerging with big promises. Mobile app developers now really should think beyond the so-called mobile world to grab the potential of these emerging platforms.
Wearable gadgets starting as an extended platform for a smartphone now increasingly getting stronger and soon we can see the emergence of wearable-only apps gaining bigger and deeper market penetration. Do you know 9% of internet users are already accessing some web based apps on their smartwatches? Well, the rise of wearable will continue to spread far and wide and will only get stronger in outreach.
In the same manner smart home apps, thanks to the proliferation of connected apps and gadgets are getting stronger and already one app for multiple device interfaces has already become popular among users. So, time is ripe for turning your attention towards device platforms other than the smartphones. Do you know in the US a whopping 34% of users are accessing the web on smart TV? Already, the success of Netflix and Hulu is a major indication that cross-device focus will continue to get momentum.
Just like the wearable devices and smart TV, video game consoles, and emerging VR headsets are offering huge promise for allowing more immersive experience in gaming. Most big techies are already into VR and are coming with their own VR sets. VR as the emerging platform is going to experience more consolidation and can offer huge promise for future customer interaction across diverse industries like travel, retail, real estate, manufacturing, prototyping, etc.
To conclude with, we must say that the app universe is still at its early growth stage and so, the potential for the app developers is still boundless. But to be able to grab the opportunity your idea and development maneuvers should prioritize a few things and follow the steps to develop successful mobile app. Moreover, it is extremely important to keep an eye on the new avenues, platforms, and interfaces that are emerging to create new opportunities.
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