Mobile app development is a big business, and one that's getting bigger all the time. With millions of iPhones, Androids, and iPads flying off the shelves each month, Americans are becoming more and more connected through mobile web devices – and looking to new apps to help them make their lives and careers more convenient at the same time.
But, while businesses across the country are looking to cash in on app development, many will struggle to even break even on mobile software packages. There are a lot of reasons for this, including competition and a lack of understanding about app development, but one of the most important is that companies don't always know the best ways to profit from apps in the first place.
To help keep you from making the same mistakes, here are three ways that businesses profit from app development:
1. By becoming an app store bestseller, or steady sales over time. By now, you've undoubtedly read about an app that has made its founder or creator millions of dollars (and might have even purchased a few of your own). While these kinds of apps are obviously incredibly profitable, they also require that you have an original idea, along with more than a bit of luck. It's certainly possible to come up with a popular app, but know that you face lots of competition and will have to have a concept that's well above average.
2. By lowering costs with customer convenience. Another way to profit from apps is by giving your customers convenience they couldn't find elsewhere. In other words, by giving them an app that lets them place orders, for example, or update account information online, you don't just make life easier for them, you lower your own customer service costs at the same time. Looking for that mix of convenience and savings can be a great way to use inexpensive app development to boost your bottom line.
3. By using apps to introduce buyers to different products. Sometimes, the best way to make money from an app isn't to sell it at all, but to give it away and use it to promote other products and services to those who download it. Of course, you don't want to go overboard with the advertising or your app might get bad reviews. But, put together a handy tool that leads customers to other parts of your company, and you might have a win-win marketing solution.
One thing you'll notice about each of these ideas is that they all represent a different mobile app development, pricing, and distribution strategy. So, just as you need to know how you can make money with an app, it's also important to envision what that chain of profitability will look like before you begin if you're going to maximize your chances for success.
Have questions about app design and development? Get in touch with WebRevelation today and let us find the answers you need.