Hey Grinders! As many of you know Ruck, Ryan & I recently attended GMIC here in San Francisco. It was a great show with TONS of people. The majority of which were App Developers who were local to the Bay Area. I’m sure you’ve heard the saying “Everyone has a great app idea”, well this show proved it. The show got me thinking and after some research I found this great info-graphic by DCI.
Unfortunately after having spoke with several developers one thing became very clear. Most simply do not know how to market, let alone monetize their app. Many had an almost finished product and didn’t have the slightest clue how they were going to make any money!
Building an app and expecting to make some money from it requires planning. Do yourself a favor and treat it as a business from day one. This means properly plan out how you’re going to monetize and market your app. “Build it and they will come” unfortunately isn’t a successful strategy but it’s definitely the most popular.
There are several places you can help your app be known even while it’s in development. Be sure to build out social accounts. Using social media to keep user informed on your progress is a great way to build a following. This will also allow you to get feed back early on, which can save you time on avoiding unpopular features.
Planning your monetization strategy early can also help in how your app is developed. Keep your app looking clean by properly designing it for various ad-sizes. It’ll even help plan how your in-game store ties into your game play with a freemium model or a proper price point for a premium app. Determining how much a user is worth to you will help in your user acquisition efforts.
Building apps can be very lucrative but has also become much more competitive because of this. Proper planning and market research will put you way ahead of the competition. Fail to do so however can result in years of work with no return and no body wants that…
Please leave your feedback in the comments below, I’d love to hear how others are monetizing and marketing their apps!
Ryan Gray is the founder and CEO of NameHero, one of the fastest growing independent web hosts in the United States. Ryan has been working online since 1998 and has over two-decades experience in Internet Entrepreneurship.