There is a lot of money in mobile applications. Creating an app has become a business, and actually an app can make you money.
Background on Apps
Mobile internet is only 10 years old, having hit the marketplace more rapidly and crucially than the original web 20 years ago.
Mobile usage has grown five times in four years to approximately 20 percent of media consumption last year. From 2009 to 2013, the compound annual growth rate for mobile apps was 50 percent. Meanwhile, mobile app investment is gathering steam.
Which platform makes the Most Money
How can you make money making apps – the leader in this category is Apple’s iOS platform, with over 25% of its developers earning over $5,000 per month. Android is also a well-regarded platform because of its continued market penetration. Sixteen percent of Android app developers earn over $5,000 per month in revenue.
The iOS platform has a wider spread of overall earnings, increasing your odds to make money via their app market as a newcomer.
Register With the App Stores
To publish software on the Apple App Store or Google Play Store, you’ll need to be a fully registered member. Apple’s scheme, the Developer Program, is not free. It’ll cost you a yearly fee of $99 (around £80, AU$135).
Google Play’s development program is less costly, with just a $25 (around £20, AU$35) sign-on fee which entitles you to use all of the search giant’s online dev tools and accept payments using the Google Payments system.
Creating an App – Idea Stage
Want to build an app but don’t have an app idea? What you really need are problems, and they’re everywhere!
Successful entrepreneurs solve problems in a way that we could not have imagined. When you look around you, every product and service you use were all created to solve a problem.
Brainstorm a list of potential apps that you can develop.
Identify Your Target Market
Your app needs to be developed keeping in mind the target users of an application. Having a clear vision regarding the target group, enhance the success ratio of an app.
You can validate your idea by using the Google Keyword Planner tool to look for the number of people seeking out what you’re trying to do.
Layout and Design Features
I suggest that you put your ideas down on paper and go through the flow of how the users will navigate the app as well as the features. Keep it simple.
Add value to the user and try and come up with a simple idea that would reflect your business and its core values. In such a competitive market you need to think of something new and different to grab the attention of the audience.
Make sure to build a screen by screen mock-up of your designs.
Provide Information With Updates
Continue providing information and updates to your users regularly, which may include news regarding your products and services. The best way to achieve this is by creating a system that would automatically update all the information even before the user realizes its need.
Updates are also a good way to give your app a slight “bump” in the eyes of the user. A notification is shown whenever an update is available for an app that is installed on a user’s device, or if automatic updates are enabled, when an app has recently been auto-updated.
Cost to Develop My App
Talking through your project with an app developer or app development company will, of course, be the most accurate way of working it out but if you’re just looking for some rough numbers, here is my list to help you to give you an idea of indicative costs.
1.Use an OnLine App Company
These you can get done for free with some online companies but usually as low as $25 a month on average.
The entry price is for basic apps and the prices rise as you add more functionality and can go as much $280 a month.
- GoodBarber, – $15 to $280 a month
- Appy Pie, Free to $33 a month
- Siberian, Free to $149 a month
- BiznessApps, $99 to $250 a month
- AppYourself, $20 to $80
- Mobile Roadie, $149 to $799 a month
- app makr, Free to $39 a month
- Swifttic, Free to $149 a month
You can get this as low as $2000
The freelance developer can charge you as low as $50 a hour. The risks are you have to project manage the developer, the app may not turn out how you imagined it but on the other hand, it is the most cost effective way to develop an app.
3.Cheap App Developer
You are probably looking at around $500 to $5,000.
More often than not, app developers within this price range are based overseas and take up a lot of management time.
Development time is up to 500 hours
4.Mid Range App Developer
This is between $5,000 to $15,000
If your idea is simple enough, like a to-do list style app or all data on phone app and this is within your price range, it may just be a great fit.
Development time is up to 900 hours
5.High End App Developer
Between $15,000 to $5,0000
A high-end app development agency will have a broad experience in the more technical side of development, such as BLE, iBeacons, AdHoc, WiFi, VR, AR and Sweet Animation, on top of a depth of knowledge that will mean they can build whatever you want, on whatever platform you want.
Development time is up to 1000 hours+
How to Monetize your Site for Revenue
By the time you’re done reading this post, you’ll have learned different ways to turn your app into a profit-generating machine.
- Advertising – having a free app can be utilizes in-app advertising and here are 5 different methods used:
- Interstitial/full screen ads – These ads are usually placed at natural pause points, like when moving between menus. Because these aren’t actually interrupting the experience of using your app, they’re more likely to generate clicks without causing frustration.
- Banner ads – These are usually found at the top or bottom of the screen and can be somewhat ineffective because they are more distracting than other forms. They can also irritate your users, so think twice before agreeing to incorporate one into your business’s app.
- Notification ads – These pop up in the mobile device’s status bar and make users more aware of the ad’s presence. Be warned, these aren’t the most well-loved ads out there, and could damage your app’s reputation.
- Capture form – Relying on user opt-ins, these offer incentives (like points or tokens) for users who enter their email addresses. You’ll most often find capture forms in mobile games.
Most app downloads are unpaid, but that definitely does not mean the users never have the opportunity to spend any money within the app.
- SMS marketing: You can send notices for app updates, reminders, contests, and promotions straight to your users’ text message inboxes. This marketing method is one of the more effective ways to strengthen your brand because it drives users back to your app.
- Subscription Services or Multiple Payment Options: Consider creating a subscription service for those customers who keep coming back. That way, all your users have to do is sign up to be billed monthly or quarterly, and they’ll receive all of that new content without having to remember to buy it.
- Sponsorships: Like social media, you can leverage your app to build sponsorship relationships with brands. These brands will see the user engagement you have and may be interested in advertising on your app.
- Build an Email List: This method is tried and true for websites, but it also can be quite lucrative for mobile apps as well. Like SMS monetization, you will compile emails upon install. This is generally great for free apps. Once you have their email then you can send them newsletters or direct them to your blog.
Can You Make Money Making Apps
There are multiple opportunities in the app market. It has experienced substantial growth since their first conception and it shows no signs of slowing down.
You can start to build an App and I hope that this article helps.