Apr 27, 2020

How to build a money-making app

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The development of any application is always a big investment in the project, a lot of wasted time and effort spent. Having done such a huge work, each creator wants to receive from the application. In the world of mobile development, money comes from popular projects that users like. Let’s see what aspects you need to consider creating a successful money-making app. 

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Which apps are worth to invest in 2020

According to Statista, in 2020 annual revenue in the app market exceeded $ 189 billion. Impressive performance, isn’t it? It is very simple to explain: the number of mobile applications users continues to increase, and after it, the earnings that projects bring is also growing.

Every mobile application starts with choosing a niche and an idea. What apps will be the most popular in 2020? First of all, this year promises us the rise of all types of mobile aggregators. The content they collect from various resources can be almost anything: from prices for goods or services and world news to tourist information.

Non-gaming entertainment applications also attract user’s attention: according to statistics, these applications now bring ten times more money compared to previous years. And the first position on the list is Netflix, an American streaming service, followed by Chinese corporations Tencent Video and IQIYI.

There are also many successful apps among online stores: they loaded three times more often than a few years ago. After all, it is much easier to buy all you need in one click on a smartphone than to spend time searching in physical stores. Market leaders haven’t changed from 2018-2019: Amazon, Wish, AliExpress.

The growth of online sales gives impetus to financial apps, especially banking services and payment systems. After all, the more payment methods, the greater the chance that the buyer will find the most convenient for himself, which means he will make a purchase. In 2019, the number of downloads of financial applications exceeded 3.6 billion.

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Games are an area that will always be in demand. And, according to App Annie experts, mobile game developers will pay particular attention to cross-platform development in 2020. This, in turn, should positively affect demand, making the game process more convenient and enjoyable for users of a wide variety of devices.

Health and fitness apps are among the promising areas that are only gaining popularity. Users are downloading various programs: from apps that remind you to drink water to programs aimed at controlling blood pressure or heart rate. The market is very competitive, and it is not so easy to single out leaders: all applications are quite popular.

Which application will be profitable

Successful businessmen achieve their goals by analyzing the situation from the very beginning and determining what should be taken care of in the first place to achieve a result. The mobile application will make money if it manages to get users, everything is quite logical.

Many aspects are important when choosing what to install on your smartphone and what to use daily: it is both convenience and beauty and functionality. We list the main criteria for a good application that will receive an audience, which means it will make money.

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User needs come first

A good application knows its audience and exists for it. Before you start, make a portrait of your target consumer: his problems, goals, habits, preferences, and what repels him.

Ask a question: “What problems the application can solve?”. Having found the answer, you can make a list of functions and tools to solve these problems. User support at every stage is also important, which means that the work doesn’t end with the release.

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Catchy design

If you want to create a successful app, start with its appearance. The design of mobile applications is not only about pictures, but it also consists of user experience and user interface (UI/UX). The interaction of the user and the service is thought out first, which gives an understanding of how much and what information should appear on the screen, how navigation will occur inside, etc. This stage determines what experience a person will gain from interacting with the app.

Creating a user interface is a much more visual thing. When you are told that your design is beautiful, or not, it’s about the interface design — visual component of the application.

You need to understand that design is a combination of UI/UX. If the application will have many features, but it will be difficult to work with, or it will repel visually, the user is unlikely to install it. Beautiful and user-friendly design is one of the main components of the success of profitable applications.

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Application performance

Nobody likes the terribly long download and the moments when the application stop working correctly. Downloading in the best applications takes no more than five seconds. Also, some programs quickly discharge the battery of smartphones, which no one likes either. Therefore, the app must be developed to work stably and save phone resources.

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Social Media Integration

Integration with social networks is a must-have feature for most types of mobile applications. For simplicity, you can allow users to log in with Twitter or Facebook. Also, don’t forget that users like to share experiences with subscribers. This way, people can easily share products, content, and opinions with friends. This improves the user experience and can be a valuable marketing tool.

Safety is a must

For in-app purchases or online shopping, the user leaves his personal data as well as a phone number and a credit card number. Whatever application you are going to develop, users must be sure that their data is protected and will not fall into the hands of scammers. Pay enough attention to this, because an unsafe application is a total failure and loss of downloads.

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Monetization is the main way to make money on apps

Making a profit directly depends on the quality of the application, but there is an additional way to earn money — monetization. There are several basic business models that are widely used.

Free app with ads

This is one of the most common ways to earn income from your program. There are no restrictions on downloading. The goal of the developer is to attract as many users as possible. Data about their behavior is analyzed and available to advertisers willing to pay for the placement of targeted advertising.

Freemium

As usual, a Freemium app has a set of basic functions, as well as add-ons that a user can purchase for the money. The purpose of the business model is to attract people to the application with a set of basic functions. Over time, some users want more, and they begin to buy additional features. Freemium is successfully implemented in games where special items or levels can be opened by paying for them.

In-app purchases

Most often, this model is used in games. Applications that are monetized by this scheme sell virtual goods. It can be new special characters, clothes for them, weapons, upgrades, game currency.

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Subscription 

Another familiar business model that is widely used in news apps, players, and reading programs. Here, as a rule, we are talking about getting the user access to the content, and not to the features of the program. Typically, a subscription involves receiving a certain amount of content for free. If the user wants to get more, he needs to pay. Usually, full access is paid for a specific time, for example, a month or a year.

Sponsorship

This is not the most common method, but it is also worth mentioning. You can offer users to support your project, if they like it, and donate some money. Often the user who supported the project is provided with something unusual, such as application merch.

Paid Apps

Another very common business model, which involves payment to gain access to the application. The cost can be very different, and the developer receives money from each new user. The key to success is the ability of the developer to present the capabilities of the app, to interest the buyer at the very beginning. In the catalog, as a rule, “killer features” are indicated, which show the potential buyer that it is impossible to refuse such an app.

Attention

Remember about the very first point — the user is above all. Use advertising, but don’t make the application a solid advertising platform. It should remain convenient for work. If it is full of offers or internal purchases, your audience will always find a similar option, because the competition is high. App creators should always remember that their project is profitable as long as it is used by people.

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Final thoughts

The app market is filled with competition, but it doesn’t mean that your mobile application will not be able to stand out from others. The number of users is increasing, as well as opportunities for developers. But if you want your mobile application to be successful and bring money, you need to create a quality product, work on a business model, and marketing. Only an integrated approach will allow you to earn really good.