How to Build a Mobile App that Actually Makes Money
Mobile Apps are the gateway for businesses to improve in their company. They are also the best and perfect platform when it comes to the next big hit, like Snapchat or Instagram.No Matter what your reason is for creating an app, I have no doubt you have something in common with other equal potential developers. All of you want to make financial benefit out of it.
Info Pages & Links for Prospective Students
To start with, I applaud you for doing the research before beginning to build your first app.
I’ve found out that so many people were inexperienced enough to think that just because they created an app, it would automatically produce money. That’s untrue.
Here’s a similarity.
If you set up a new business, will it automatically generate money? Certainly not. Thankfully, you’ve come to the right place. As a genius in the mobile application industry, I have the knowledge and familiarity to help steer you in the right direction. It is undeniable that 90% of the time spent on mobile devices is in apps. Clients clearly love to use apps, so you have more chances. The clue is getting to know how to choose the best app that will attract user interest and eventually get downloads. But you need to realize that downloads alone don’t always immediately translate to dollars. Creating an app is costly, and you’ll come a One-click and done. That’s easy for the customer and you start getting the money instantly.
How can this be compared to a mobile site? If your website has speed, what else could slow the customer down?
- The customer has to log in to their PayPal account or to enter their credit card information.
- Overall, it’s just a longer process and more of a headache for the user.
- Plus, typing out all of that information on small screens results in errors that can slow things down even more.
- Don’t get me wrong, I’m not saying your mobile site shouldn’t have a checkout page or have ways to make money through credit card purchases.
- All I’m trying to imply is emphasize that in-app purchases are better.
Difference between iOS and Android in terms of purchases
- Although iOS may have a higher number of the usual purchases, Android has an influence in terms of total users.
- Looking back at the portion of smartphone sales last year, there were 432 million devices sold.
- Of the 432 million phones, 77 million had iOS software at the same time that 352 million ran on Android’s platform.
- If the two platforms are merged, 99% of the market share, but Android alone accounts for 81.7%.
- But 16% of Android developers earn over $5,000 per month with their mobile apps, and 25% of iOS developers make over $5,000 through app profits.
- So keep these statistics in mind if you’re only planning to deliver on just one operating system.
What if you are selling physical products?
We recently touched on this, but I wanted to continue to explain in details on this topic. To effectively sell products through an app, you have to put yourself in the shoes and minds of a mobile shopper. 40% of mobile users have bought something online with their smartphone and this number continues to grow each year.
There are generational trends too. For example, Millennials are more in this category 63% of Millennials have used smartphones and tablets to make an online purchase. 70% of the company’s total sales are generated from mobile devices. Roughly twice of those sales comes straight from their app. Approximately 150,000 to 200,000 users download this app each month. And 57% of their shoppers are repeat customers.
When you have the skills to focus on customer acquisition and customer retention at the same time, it’s a great recipe for success.
It’s the ease at which they check out that makes your online App so successful. After you download the app, you’ll create a profile that securely saves your information. That way whenever clients open the app, they can get straight to shopping through a simple navigation screen.
Customers can easily search for and scroll through items that they’re interested in. Once they find something that catches their interest, they can click on the product to find out more information about it. Now the user will see a detailed description of the product in addition to a larger photo.
If they like what they see and read, they can add it to their shopping cart with just one click and can even add more as more beautiful ones are one the same page. Once it’s in their cart, the customer can check out in just one simple click.
This app allows users to complete the shopping and purchase process in just three steps and it’s less stressful compared to website e-commerce.Plus if you’re currently selling products on your website and mobile site, you can generate more revenue by building a unique mobile app.
Free apps vs paid apps
One of the things you’ll want to consider is whether or not you’re going to charge users to download your app. Averagely, you would generate a higher revenue per download and this may seem like a nice way to get some upfront profits, but you might turn customers away if they have to pay.90% of the apps on the Apple App Store are free but that doesn’t mean you can do the same.
If they are willing to make the initial purchase just for installation, they may be more likely to use it and make additional purchases. They could potentially download your app because it’s free and they check it out once and never use it again.
While they may sound discouraging but be optimistic as it’s a gradual process. It doesn’t cost you anything to have users download your app and never use it. If you’re confused about releasing a free or paid app, I will towards recommending a free download. This will increase the chances of getting more downloads, and you can make money through other sources.
So there’s surely some money you can make if you can sell advertising space on your app. Keep in mind, these numbers are normal, and they aren’t difficult. Another way to make money from a free app is with upgrades, subscriptions and even ratings of your Apps.
That’s where a premium subscription comes into play. Let your client download and use the app for free, but withhold the best features for users who are willing to pay.
Conclusion
Not all apps generate money. If your plan is to just build one without a strategy and just sit back to collect your money, you’ll be in for a disappointment.
Like how every business has a strategy, you need to have a strategy and goal before you start building an app. Mobile users prefer apps compared to mobile sites. So while you definitely need a website that’s optimized for mobile devices, an app can make the customer experience much better.
