From launching an app that orders cakes in the midnight to creating an app that sells swanky products or delivers stationary products in real-time – various app ideas pops into one’s head every day. (I’m sure you must also be having at least one mind blowing app idea with you!) While every app idea is unique, everyone loves their idea, and look forward to turning it into reality, I want you to pause for a minute and determine if it is a worthy investment. Is it profitable to invest a hefty amount of money in mobile app development, if it can’t return even $2,500 a month?
Obviously, not. No matter what we say, the ultimate goal behind developing an app has always been generating money. So, taking forward the same thought, I’m here sharing different successful tactics to turn your app into a money-generating machine. So, sit with a pen and notebook and get to know what it takes to make money from creating an app.
Tactics to Make Money From Developing an App
- Get into Your Customers’ Shoes
The most traditional yet effective method to make fortune from developing an app is being customer-centric. Get in touch with your target audience and understand their needs and expectations. Look into the market what their pain points are, what options are already available to them, and determine how your mobile app could help them.
Trust me, if the target audience could not feel attached to your app or your mobile app fails to address their problems, they won’t use your app – regardless of how innovative your approach is. So, though it can be a tiresome task, put your best efforts into it.
- Pick a Catchy App Name and Icon
To ensure that your app makes money, it is necessary that your app is discoverable to the end users and they prompt to install it. Now, how to make this possible? One of the easiest methods, I have ever found, is to focus on your app icon and name. If the name and icon of your mobile app are creative yet informative, the users will pay attention to your app. And by creative and informative, I mean that the app name and icon should not only be unique, pleasant and unforgettable, but should also represent what your app does. It hints the users what they can do with your mobile application, for which it is necessary to include the keywords in the app name.
For example: If we talk about Skype, it’s App Name is: Skype – Free IM & Video calls. As you can see, the app name clearly defines that the app will let you make free IM and video calls. This type of practice makes it easier for the end users to know what benefit they will get from your app and thus, they will look forward to using one.
Likewise, if we take an example of the Pocket app. Its icon (as shown in the image above) represents a pocket and gives a hint that you are going to keep something in your pocket. This induces interest in the user’s mind and prompts them to tap on the app icon.
- Invest in Right Monetization Model
Another method to drive higher revenue from your app is to choose the right app monetization model. The app monetization models, as what mobile app development companies say, are the cornerstone of the app revenue generation mechanism. If chosen well, they can add millions of bucks to your pocket.
But for that, it is necessary that you have a comprehensive understanding of the types of monetization models (In-app advertising model, In-app purchase model, Freemium model, Subscription model, Incentivized model) and determine which one to begin with while investing in mobile app development. Though you can experiment with different monetization models post-launch, it is preferred to start with one to streamline the development process.
- Launch at the Right Time (and in the Right Way)
Believe or not, the app launch day and time also matters. If launched at the right time, your app can get the attention of a higher audience. It can gain millions of downloads and thus, generate better revenue. However, on the converse side, your app might become alien to the audience and does not get an opportunity to drive business.
So, how to decide what is the right time to launch your mobile app? While various factors play a significant role in this process, various mobile application development companies recommend launching an app in December and January, and not in August. So, keep such pointers into your consideration.
- Invest in App Marketing
It is often said that great apps attract users automatically. Unfortunately, it is not the reality. If you have a look into the app market, you will realize that there are millions of mobile apps, with many under construction. In such a scenario, you cannot expect that users will just leave all the existing apps and run to your app page without any efforts from your side. In other words, it is necessary that you give some push to your app before it goes viral. You need to inform the target audience about your app launch and foster them to land on your app page. In a nutshell, you need to put your best efforts in app marketing.
So, how to do app marketing the right way? Firstly, list down all the ways you can promote your app and begin with the simple and ‘free of cost’ methods. For example: Consider ASO marketing, Create a landing page on your site, Add App page link to your Email, Share Blogs about your app functioning, Give some discounts to first 50 users, Invest in Social media marketing, etc. Besides, you can also look forward to paid app marketing strategies like Paid advertisements to gain user attention and prompt higher downloads.
Launching your own app and making a profitable business in the first try itself is tough. However, with the information and tactics that I have shared here in this article, you can avoid common mistakes and make a better approach to making money by creating an app. So, consider these pointers religiously. And yes, don’t forget to share your feedback in the comment section below.
Author Bio:-Holding a Bachelor’s degree in Technology and 2 years of work experience in a mobile app development company, Bhupinder is focused on making technology digestible to all. Being someone who stays updated with the latest tech trends, she’s always armed to write and spread the knowledge. When not found writing, you will find her answering on Quora while sipping coffee.