An app is defined as a program or software designed to fill a particular need, and ever since Apple launched their App Store, making money with mobile apps is a very profitable way to make money.
When it comes to mobile apps, you have two options. The first is to become a programmer and either create your own apps or create them for others. If programming doesn’t interest you, you can always outsource that part, but you can still draw a profit from mobile apps another way—by coming up with an app that solves a specific problem and monetizing it.
How to Do It:-
Because programming an app is a special skill that could take up this entire book, we are going to go more into how to monetize your app. This still applies to programming though if you create your own app and want to make money from it, so it is relevant nonetheless when it comes to growing your income.
Here are the steps you can take:-
Step 1: – Decide what problem your app is going to solve or what need it is going to fill. Every app on the market has to solve a problem or fill a need, so you need to figure out which one yours is going to do and how. For instance, is your goal to entertain by creating a game, or do you want to enhance the user’s productivity by creating an app that helps them prioritize their to-do list?
Step 2: – Decide how you want to monetize your mobile app. You can monetize your mobile app in three different ways. First, you can make the app a paid app versus a free one. This means that the user will be charged a one-time fee for downloading your app to their device.
The second option is to make your app free to download and integrate ads into it via sites like iAd or by selling other apps to your customers. This type of affiliate marketing can bring in income by encouraging your users to support your affiliate’s products and services.
The third, and generally most profitable option, is to offer in-app purchases. This creates consistent income from your customers over time.
No matter which route you want to take, you want to decide this information up front, so that creating your app is easier and will make you better prepared to earn more money.
Step 3: – Create your app. There are some websites that help you create your own app for free, such as Appsmoment, Designmodo and App Maker, but if you find this process a little too overwhelming, you may want to hire a freelance app builder instead. You also want to go to Top App Charts first and see which are the most popular apps, when deciding on the functionality of your app focus on creating an app that is similar to a successful app, but better in some way, so this way chances for success are bigger, since you have a validation from the market and an advantage against the competition.
Some key areas you will want to pay attention to when creating your app include screen resolution as too many features will slow your app down, the colors you use (simple is generally better), easy-to-use buttons that self-describe what they are for, the size of the font so it is readable yet not too big, and having a cursor that can be manipulated with ease by fingertip.
If you’re trying to lower your costs up front, you may have to decide to make your app specifically for an Android or an iPhone. If this is the case, go with the iPhone first as they seem to bring in more revenue, which you can then turn around and use to make an Android app as well.
Step 4: – Creating a game. As you can easily see from the top charts of the App Store or Google Play, the most profitable apps are games. The best working formula for a game is to be free to download, very hard to finish the game and to offer in-app purchases which allow the users to pass the challenges in the game more easily. Sounds simple but how to build a game, you have to be a great programmer or either has ton of cash to invest into outsourcing the process. Good News! Recently GameAcademy has released their game builder called BuildBox.
It is an easy to use software that requires no coding and has a lot of pre-made objects into it as well as detailed guides how to use it in order to build a best selling game. Although it is a program priced at 2,675$. It is worth the money though because it allows you to export your game not only to iOS and Android but to Windows and Mac as well. Which will allow you to reach to a lot more people?
Step 5: – Market your app. Don’t believe the old adage that “if you build it, they will come.” Having an app on the market doesn’t mean that others are going to rush to it to download it, so you’re going to need to let them know that it is there and get them excited to the point where they don’t want to go another minute without it.
Just as with marketing your other online money-making ideas, you want to link to your app from your website, social media, forums, and any other Internet-based vehicle to drive traffic to your app. For example, Facebook offers an Ads for Apps campaign that helps you reach a bigger audience. Also, there are various websites that offer reviews for different apps, and having your app listed on as many of those websites as possible will definitely increase your visibility.
Step 6 : – Optional : – Sell your app. If you create an app that has taken the world by storm, you may even decide to sell it for a profit. After all, you can always make another one and earn an even greater income, getting a landfall of money once you’ve made that one well-known too.
Pros: – One of the great things about mobile apps is that once they are created, all you need to do is market them. The hard work is already done. Plus, with more and more people using smartphones, iPads, and tablets, you have a large buyer base already in place.
Cons: – A huge con as far as apps are concerned is that it takes a lot to get your app to stand out amongst your competitors, even if it is free. You really need a new and innovative idea to turn people’s heads, which isn’t always that easy.
Earning Potential: – With the right app, you can make six figures, even if it is free, thanks to the in-app purchases and affiliate marketing. For example, Clash of Clans reports revenue in excess of $150,000 per day and Pandora is just under that amount at $120,000 daily. However, those amounts are more the exception than the rule.
The top free app as of May 2, 2012, was Piano Tiles and it didn’t earn a cent. Not one dime. So, making it big doesn’t necessarily mean that you’re going to strike it rich at the same time. That means that you have to find a way to make your app profitable, not just desirable if you want to quit your day job.