With the ongoing trend to make one big popular app, every entrepreneur is following this app dream. Everyone is aware that apps can make you billions of money, and the amount continues to grow each passing day. As per Statista, the global mobile app revenue was estimated to be 69.7 billion US dollars in the year 2015. It has now grown to $188.9 billion in the year 2020. The app economy is nowhere seen to stop. Therefore, if you are wondering about trying your luck in building an app, this is the right time.
However, are you still confused about how to turn this dream into reality? To grab the right knowledge related to this, here are simple app ideas that could make money for you in the long run. These ideas are highly result-proven and effective to turn your dream of making a profitable app into reality.
The concept of apps making money
First things first, it is essential to understand the whole concept of apps making money. There are methods to monetize the app you are creating.
- App downloads – to follow this method, it is better to make your application free. But the best suitable option is to go for paid and free versions. This way, you can experiment and know the best possible way to make huge money. However, choosing one out of these options depends on the type of app you are deciding to launch. Ultimately, it will help you improve revenue generation. Hence, you have to carefully look into this aspect in order to make the app bringing profits for you.
- In-app purchases – this way of monetizing your app has paid additional features. You will find in-app purchases in gaming apps mostly. This option is highly beneficial for apps with ongoing costs associated. However, the ‘freemium’ apps are mostly using in-app purchases or in-app advertising to generate revenue.
- In-app advertising – this method helps in generating revenue by user clicks and impressions. It can vary in size, position, or placements in apps. Also, payment models differ from cost per mile, cost per install, cost per view, etc. This way is extremely famous and is extracting great revenue for app owners.
Simple ways to build an app that makes money
After knowing about the basics of monetizing the app, here is how you can build one:
- Conceptualize the idea – this initial step of conceptualizing the idea will help build the strong base of your app. Therefore, before going on with the second step, sketch your ideas by asking these questions:
- What is the purpose of your app?
- What problem will this app solve?
- Is it going to meet your needs shortly?
- Whom do you want to target?
- Is it going to appeal to your targeted audience?
- Is this app idea to make money going to work? If yes, how?
- What is the decided platform for this app?
- Market research – the app economy can seem very lucrative, but your app can never make money without proper market research. Therefore understanding and gaining knowledge about the marketplace will increase your chances of success. Visit various app stores, learn the new trends of top-paid, top-free apps in the market. The conclusion should be whether the market is in the right place to offer an appetite to your app or not. Also, never forget to research the market competition. Without studying the market and the latest trends you may land yourself in trouble. Thus, it’s the most important aspect to make a profitable app.
- Create a wireframe – creating a wireframe or storyboard will help give you more clarity about your app. There are various wireframe tools you can use to do so or draw it on paper. This way, you can get some idea of how your app will look. Plus, user experience is highly important while going through this step. Ensure that the design of your app is simple and easy to understand. You can always go for an app developer for this process.
- Back end coding – this is the main part of your app. set up everything that your app design needs to function on, such as databases, APIs, servers, etc. If you are working with a mobile app development company or software developer service, ensure that nothing is left behind throughout the entire development process. Plus, this is the best time to register with Google Play or Apple App Store so that you can sell your app on various platforms.
- Test it and modify/adjust – test your app and ensure that every screen is functioning properly and is aesthetically appealing. You can seek extra help to test your app. While testing it, you may come across some modifications or adjustments. Change them to improve the app. Make sure that it doesn’t bring any kind of technical glitch to save the nightmare for the users.
- Beta testing – This step offers you the chance to test your app in a real environment or targeted audience. Emphasize recruiting the best beta testers via Twitter, Reddit, etc. Next, distribute your app on platforms like Google Play Beta Testing, etc., to get qualitative feedback. Without real-time testing, you cant come to know about its smoothness and seamlessness.
- Release the app – with everything is done, now is the time to sell your app in Google Play. Whereas, selling it in Apple, the Apple team takes 3-10days to review your app.
- Market your app – your job is still not done. After releasing the app, you won’t get money straight away. It would be best if you do constant research, find different keywords, and various other elements. Keep promoting your app on different platforms in order to enhance its visibility, relevance, and overall popularity among netizens.
Conclusion
Building an app that makes money takes a lot of consistent effort. Whether you are building a new app or recreating the old one, the above guide will help you achieve your goal of an app that could make money. Follow it religiously. There is no shortcut to making a successful and money-making app. You have to consistently work on the above-given steps to reach your goal and the targeted audience.
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