The Complete Guide To Making Money From An App

Mobile apps are hot property on today’s digital market. Many developers are now drawing in millions in profit. It’s no surprise then, that entrepreneurs are flooding to app technology. For the very best apps out there, the rewards are rich. The biggest names, like Candy Crush and Clash of Clans, collect up to $1 million a day. Whether it’s through in-app purchases or sale of the app itself, there is big money to be made here.

Of course, it’s not all so straightforward. For every success story, there are a hundred apps that make no money at all. It’s easy enough to build an app and host it on the Appstore. But, that doesn’t guarantee you any customers. Your time and effort should be invested in crafting that unique idea and working on the promotion. No app is an overnight success without a great idea and plan behind it.

In this post, we’ll explain how you can make a fortune from your app. Follow the advice here and you’ll have a success story on your hands in no time.

The great idea – Of course, every great app must start with a great idea. The success of an app is all down to its simplicity. The very best apps do just one thing, and they do it really, really well. Think about Snapchat, Instagram and Minecraft. They are all hugely popular apps with one simple function at their heart. Find that great idea and distil it down to one simple function. Do you research here, make sure no-one else has already taken your idea.

Build a budget – There are plenty of different routes you can take here. Some people can make an app for no money at all. If you’re willing to learn the process, you can build the app yourself. If not, factor in the cost of a company to handle your mobile app development in London. Take into account the promotional costs (we’ll come to this in more detail later). Finally, make a profit plan of how much you intend to make from the app itself.

What platform will you use? – Before you start building the app, it’s important to decide where to host it first. Building for Apple and Android require two different processes. They each have their own intricacies and a separate approach. One thing to consider is that Apple have a much stricter approval process. On the other hand, the Android Market is open to all. You can upload the app and it will be online in seconds.

Sketch, design and test – Now for the intricate part. It’s time to start sketching out the finer details of your app. Consider every single aspect and landing page of the app. Sketch out every possible journey that your user could take. Tighten and hone the user experience until it is simple, intuitive and smooth. Keep shaving off the superfluous parts and get critical feedback. We always trust the ‘Grandma test’. Show your Grandmother the designs; if she understands the process, then you’re onto a winner! It means your app has universal simplicity and appeal.

How much will you charge for the app? – As a brand new developer, we suggest you put your first app on the market for free. Without a reputation behind you or a big name, people won’t easily part with their money. Make it free and users will download it through impulse. Get people using the app and talking about it first, then start charging. Grow your presence through word of mouth and a great app.

In-app purchases or adverts? – If you do opt for the free download route, you may want to monetise inside the app. Most of the highest grossing apps on the planet do this. Think of all the most popular games. The likes of Candy Crush and Clash of Clans are free to download. However, they offer in-app purchases of up to $100. This is how they make their money, and so could you. If it’s part of a wider business, you can offer an online store through the app. You can place adverts inside the app itself too.

Actually building the app – Once you have all the plans and strategy in place, you can start to build. As we said earlier, it is possible to build it yourself. Of course, this route will take a long time if you’re unfamiliar with the process. We suggest outsourcing this aspect. Don’t start the build until you are 100% sure of the layout and business strategy. If you plan on using in-app advertising and purchases, this will need to be built in beforehand.

How will you promote the app? – Simply building a great app isn’t enough. There are over a million of apps out in the world and you need to stand out. Very few app users will just stumble across your product. Instead, you need to get out there and actively promote your new app. Think about building a large social community before you release it. Generate hype and excitement for your offering. Be creative and use your existing platforms to build awareness.

Keep updating it – Once your app is out there, that’s not the end of the process. Listen to constructive feedback and make adaptations. Fix bugs and make alterations to improve user experience. Don’t neglect the fan base you build up. Keep diving in and making upgrades where necessary.

Now build another one! – The key to making money from apps is through volume. You should take every care to produce a brilliant, perfect app. However, you should always be planning the next one. There is strength and reputation in numbers when it comes to app building. With each one you will get better and better. You’ll understand what works and how to monetise best. With money coming in from a number of apps, you’ll build a strong business and portfolio.

There you have it, folks! That’s our complete guide to making money from an app. It all starts with a great idea. Follow it through with a strong business plan and a powerful promotional kick. Now you’re ready to take on the world!

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