Monetization is to apps, what conversations is to websites.
The success of an app is a process, and monetizing it is a true definition of how popular and successful an app is. Its not the best kept secret and making money, selling app is not EASY.
Time and again we have come across business plans of various app developing companies, individuals, who talk about how millions can be made based on the unit value of One Dollar and the anticipation of getting it on to a store.
I hate to break it to you, but that may not be the entire truth .
Your work starts much before you get your app on the store, just letting it begin there will not help you make money. Its not just about being seen or heard its about your apps ability to make users download it by paying for it…..The WHOLE APP STORY IS NOT ABOUT DOWNLOADS but price associated with every downlaod….You are a Business not a Charity.
A number of app developers are aligning themselves to developers’ community across different platforms to get their apps live on app stores. Currently there are are more than 2 Mn apps across all the platforms( some may repeat across all) with 0 .3 Mn developers. On an average there are approximately 3 -5 apps per developer. While top 200-300 apps account for almost 70% of app downloads across all platforms. Remaining lie hidden somewhere to be discovered. Our research indicates that out of 1 Mn apps in app stores, only 30% get repeat traffic rest 70% are there to add to credentials of the app store doing no good to developers.
There are 2 clear challenges
- Creating a demand for your APP
- Making it an essential / necessity for your target group to have your app.
As the Mobile data grows proportionately with the Smart phone penetration, potential for app monetization will increase many fold in medium to long term. Telcos are bundling services, devices and apps to create value bundles, thus Choice of right OS is important for reaching out to the right audience (Enterprise or end customers) for app developer .
Monk analysis shows that Gaming and Entertainment remains most popular categories of app and other categories like lifestyle, productivity and use for business as well as Personalization apps are in demand.
APP DEVELOPERS CHECK LIST:
- Many app monetization options apart from App stores are available like Pre-Loaded apps, add Networks, In-App Purchase, Freemium model and social networks.
- Develop Utility apps across varied user segments
- ROI Justification can encourage Enterprises and Government to deploy mobile apps
- Productivity and remote access can drive enterprise adoption
- Use Data Analytics to offer better navigation and features
- Moving applications to a modern architecture
- Reducing costs and/or simplifying according to IT environment
- Gaining a greater understanding about existing applications
However App developers will have to continuously improve user experience across platforms to monitoze this developing opportunity.
KEEP USER AS THE CENTER OF YOUR APP DEVELOPMENT UNIVERSE…NOT YOUR APP IDEA