Some mobile apps earn millions of dollars for their owners, but many others earn very little or even nothing at all. Working out how much you can expect to make from your mobile app can therefore be tricky. Here are a few tips for predicting the return on investment of your app.
What Platform Are You Working With?
Are you planning to launch your app on Android, iOS or another mobile platform? This decision can have a huge impact on how much income your app generates. Although the Android platform has many more users, the top Apple developers actually earn more income from their apps. More than 25 percent of iPhone developers earn at least $5,000 per month from their apps, compared to just 16 percent of Android developers.
What Kind of App Are You Developing?
Certain types of apps generate more revenue than others. Many of the highest-grossing apps are games, with Pokemon Go, Mobile Strike and Candy Crush Saga topping the Android charts in 2016. These games attract huge numbers of users, who pay to access features within the game, such as extra levels, equipment or lives.
If you’re not a game developer, however, there are opportunities to earn a lot of revenue through other types of apps. For example, if you have an existing e-commerce business, a mobile app may allow your mobile customers to shop more conveniently, which could increase their overall spending in your online store.Some mobile apps earn millions of dollars for their owners.Click To Tweet
Another option is to develop an app that people find so useful that they are prepared to pay a few dollars to download it. Many developers of these kinds of apps produce a basic free version of the app so users can see what it is like and then ask them to upgrade to the paid version to access certain features. Alternatively, you can offer your app for free and earn income by showing ads, but be careful with this approach — many users find ads irritating if they are too intrusive.
Pricing Your App
Setting the price point for your apps and in-game purchases can be tricky. For many apps, experimentation is the key to success. If you launch your premium app with a price of $4.99 and get very few downloads, try reducing it by a dollar to see whether that helps. You’ll need to carefully track numbers of downloads and revenue to see where the sweet spot is. Alternatively, you could offer your app at a discount for a limited period to build up a large user base and plenty of five-star reviews before increasing the price to a level that allows you to make money.
If you want to earn money from your app, you must focus on creating a professional-quality product. Users often forgive bugs in free apps, but releasing a premium app that doesn’t work properly is likely to lead to complaints, negative reviews and users demanding their money back. For help creating a high-quality app that wows your users, get in touch with our team of professional app developers today.