So you’ve built an app, great. Pat yourself on the back! The next thing is… Where do you go to make money?? Here at MobileFOMO we did the research for you.
App developers must think beyond placing their mobile apps in Google Play or the Apple Store in order to make money. Real money is to be found by placing apps in several different locations with global access. In addition, you must have a solid marketing plan in place to help drive customers to your apps, no matter where you place them.
Reducing Costs: Consider Purchasing Source Code
Some places, such as Apptopia, offer users the ability to purchase source code, change it to meet their needs and re-upload a new app. According to successful app developer Carter Thomas, this can be a highly profitable way to get started developing apps. Rather than trying to create your app from scratch, you can save time and money by examining successful source code and revising it to meet your needs. While purchasing source code and then trying to pass it off as your own would be unethical, using purchased source code as a base for original app development is acceptable because you are not simply stealing the code — you’re changing it significantly.
Free-to-Play Apps Can Make Money
If you’re looking to get featured in the Apple or Google stores, you’ll want to charge for your app. If you are into creating gaming apps, you should strongly consider using the free-to-play model. These types of apps are free to download. Instead of making money from selling the app, place items for sale within the app itself. Many developers offer extra moves or tools for defeating a level within the game itself. This model is very successful — many users are willing to purchase these items for an insignificant price such as 99 cents, which can add up to significant profits for application developers. The downside to using this model is that it may be harder to get featured on the Apple Store or Google Play Store with a free-to-play app; however, the money you can make from in-game purchases may outweigh this drawback.
Use Social Media to Get the Word Out
Even free-to-play apps won’t get very far if nobody knows about them. Paid apps have an even higher climb to the top because people don’t want to pay for them. These apps generate less than $1,250 per day.
One way to help increase the chances that your app will make money is to create social media buzz. People often look to their friends on Facebook or Twitter to find out which apps they can’t live without, so if you are successful in getting people to talk positively and often online about your app, you’re far more likely to make money with it.