It is difficult to argue that there are not many different kinds of apps on the market, however, it is much easier to place them in two categories: profitable and unprofitable.
Whether an app aims to generate revenue as a paid market offering or through featuring mobile ads, just like a mobile offering that is not meant to make any money at all, every app will either be profitable or it won’t. Assuming that you are creating your app to make money, here are some tips to help turn it into a cash machine.
Converting Users To Cash
It is still possible to generate revenue without charging mobile device users to download your app. While it may still be a bit uncertain, featuring mobile ads on your app can be an effective method of creating revenue without it being a paid option. In doing so, if you can compensate for whatever expenses your app incurs throughout its design and market release, then you will be in good shape.
In fact, you will likely be doing better than most apps do upon initially appealing to mobile device users. The key is not to turn off users by including too many ads on your mobile app, but at the same time still featuring enough so that your enterprise covers its costs and increases its profit potential.
Charging A Price
Another way to turn your mobile app into a cash machine is to simply charge users to download it. This can be a bit risker than the previous example as not all users are willing to pay for mobile apps, and most are at least timid about which they do so with. For such reason, you should be confident that your mobile app is valuable enough to the user to the point that they will pay for it. This is perhaps best done when your app has a competitive advantage in the market.
Selling Your App’s Competitive Advantage
A competitive advantage is one of the most proactive things that your mobile enterprise can do to increase its reach in the market. The best way to turn your app into a cash machine is to first create its competitive advantage. This can be a low price, or a cool, new feature or function.
Mobile offerings such as WhatsApp, which allows users to instant message each other across multiple platforms and devices, takes a relevantly simple idea and uses it as a competitive advantage. Users, then, in turn, are willing to pay for it because no other app offers such in the same way.
While it is hard to think of any app not wanting to make money, turning yours into a cash machine should be both a short term and long term goal for your mobile enterprise. In short, if you can create a competitive advantage for your company, and sell it either as a paid market offering or by generating revenue through featuring mobile ads, then you will be maximizing your odds of turning your app into a cash machine.
Whether you are offering a social, business, or another type of popular mobile offering, your ultimate goal should be to generate as much revenue as possible. In doing so, your mobile enterprise will become more successful and profitable as its user base develops along with your stable of mobile apps.
This was a guest article from Jennifer Lewis.
Regarded as one of the leading mobile application development companies in Noida, Copper Mobile provides mobility consulting to meet the expansion needs of enterprises. The mobile banking application development firm has developed over 300 mobile applications and has worked for clients including Cienna, Cisco, Verizon.