5 Android app money making tips from Logia Group
Technology and solutions from Logia Group are redefining the way operators, developers, content providers and media owners monetize the mobile arena. Logia offers the full range of field-proven monetization tools, including:
- AppSuite- A range of apps based VAS including music, gaming centers, video surveillance and more…
- In-App payment solution: both white label solution for operators or billing and alternative payments for developers
- White label mobile apps & media store solution
With this in mind we at the Logia Group have the ability to have strong market knowledge to share with our communities.
It’s easy to assume that things are simple when it comes to mobile app monetization. The perception is that developers create a app, invest in good graphical art, send it off on its way to one of the various app stores, sit back, rake in the cash and repeat. It’s a shame that it’s a complete fallacy. The fact is that 90% of developers will hit a dead-end or will fail to generate a profit for all their hard work.
Taking a step back, it’s easy to forget that the recent “app store phenomenon” is nothing new. In fact, it goes back a decade or so. The vast online libraries and directories of shareware sites set up to share programs were the direct predecessors of Apple’s mobile app economic shift. The major change today is that everyone’s in on the game. Google does it for Chrome and for Android, Amazon sells tablets and Android apps, and Microsoft’s Windows Phone Store is growing and shaping up to become the platform for Windows 8 software.
So the question remains, in this sea of so-called mobile app change, what chance do developers stand in actually making any ROI whatsoever? The answer is much brighter than you think.
Understanding What Works
According to a report by Evans Data, games remain the dominant app across most app stores, taking up 27% of the catalogue. Business apps came in at 21% while productivity apps were not far behind at 20%. This should lead you to understand that, while the consumer side of apps is clearly the strongest, there is still a huge opportunity for enterprise and security apps.
When it comes to OS’s Android came out on top as the best app store for developers over the long term, with many believing that the Android Market will be the pivotal place to develop for within the next two years.
Android App Price Points
One of the most recurring questions developers are faced with is how to hit the right price point for their app. One way to go about it is analyzing similar apps. If yours is clearly the best, don’t be afraid to double up on your direct competitor’s price point.
Certain apps need to be released for free from day 1, specifically if there’s potential for a freemium based model.
A super interesting observation comes from comparing the different price points: a top 10% game priced at $0.99 is bringing in roughly four times less than a top 10% game priced at $1.99.
5 Android App Money Making Tips
1 – Develop your app quickly and get it out there. This is especially true if you are short on funds. You can always improve your app with future updates. Thus being said, avoid publishing a buggy app at all costs. Make sure your app does what it’s supposed to and focus on quality.
2 – Develop for categories that convert into sales: Games, Business, Productivity and Security. Consumer end-users are definitely not the only ones who are purchasing apps. Enterprises buy tons of software, especially if it solves a core challenge to their business.
3 – Don’t be fooled by exceptions to the rule. Yes there are small development teams that have breakaway app success, but it’s definitely a rare occurrence.
4 – Focus on creating apps with a big enough target audience OR go for the long tail. One of the true advantages of the Android market is that apps rarely get rejected or removed. When in doubt, refer to the Power Law.
5 – Selling your app isn’t the only way to generate revenue. Ads and alternative monetization models are picking up steam. The LogiaAd solution is a perfect way to jump right in start generating money via pay-per-download and pay-per-action opportunities.
In conclusion – Anyone who wants to make money today with Android Apps better move extremely fast, but not at the cost of low quality.
To learn more about the future of devices, multiplatform apps and the latest opportunities for developers, visit www.apps-world.net/europe on 29-30 November in London, and hear from leading global brands and industry experts.