We often hear overwhelming stories of money-hungry people that manage to achieve fabulous success. Among them are those who get hundreds of thousands of dollars in just a couple of months even without large investments. Can’t believe? Nowadays, it is in fact possible to become a millionaire or even a billionaire by cranking out inexpensive but very popular mobile applications for smartphones and tablets.
Are you interested in making a fortune from mobile application development? To be the next app millionaire or appillionaire, you need to create a really great product that people will love using. Check out the following simple items that may help you achieve millions of downloads and hit the million-dollar mark.
The great idea
Make sure that you have an idea that is worth selling in-app markets such as Apple’s App Store and Google Play. Search for possible competitors or existing solutions. Your mobile app must be unique and truly catchy. It should convey something remarkable and attract huge audiences.
Making money
Paid or free? You have to decide how to monetize your mobile app. Many apps are available for downloading as payable only, e.g. $0.99, $1.99, etc. However, one should bear in mind that customers may like your application, but they are ready to pay only for those things that they need physically or emotionally. And don’t forget that App Store and Google Play take transaction fees equivalent to 30% of the application price.
Some apps are first released in the free version, which later allows users to upgrade to the full paid version. In-app advertising can be a great source of revenue either.
Get the app developed
Your idea can be fantastic but the execution needs to be extremely perfect as well. A wide array of issues needs to be thoroughly considered, e.g. iOS and/or Android operating system, cross-platform or native app, target hardware (smartphone and/or tablet), app’s performance requirements, functionality, expected size, etc.
Without the necessary qualifications and background in mobile application development, the most reasonable solution is to outsource your project. To be assured that the desired app will be completed as expected, it is critical to choose a professional app developer. Additionally, your application must undergo strict quality assurance procedures not just on emulators, but on real devices. Professional software development services can thus help you save a lot of money and time.
Submit the app to the app market
When you are satisfied with your mobile application and it fulfills performance, compatibility, and quality requirements, you can upload it to the app market. Strict adherence to all the submission rules will facilitate the approval process and contribute to the quicker appearance of the app on the web.
Effective marketing and PR
Now your well-executed mobile app is available to users. To reach immense downloads it needs a great marketing campaign. The following techniques can be applied:
- Make a free version of your app;
- Advertise paid app in the lite version;
- Use opportunities of social media sites like Facebook and Twitter;
- Distribute promotional videos, e.g. put videos of users trying your app on YouTube;
- Take advantage of placing info about your app in numerous blog articles;
- Write press-releases;
- Run viral ads.
Results can get doubled, trebled, and even quadrupled through getting into the category of featured apps in application stores. How does an app become featured? The answer is simple: it should be awesome.
Supporting figures
Are you still not sure about getting started? Here are some convincing facts about mobile apps. During the recent WWDC 2012 (the Apple Worldwide Developers Conference), the following facts about Apple’s App Store became known:
- More than 650,000 apps are available in the App Store, with 225,000 of them being iPad-specific;
- 30 billion downloaded apps since App Store’s inception;
- 400 million App Store accounts with credit cards;
- The App Store is now available in 120 countries, but this number is supposed to grow over the next month up to 155 countries total;
- Apple has paid out over $5 billion to developers.
What concerns the Android ecosystem, at Google’s I/O 2012 conference it was announced that there are now around 600,000 apps and games in Google Play (which is almost as many as in Apple’s App Store). In total, Android users have downloaded over 20 billion apps to date. Furthermore, according to the International Data Corporation (IDC) the most shipped smartphone operating system over the next five years will be exactly Android, not iOS.
Table 1: Smartphone operating systems in 2012 and 2016 (forecast)
Source: IDC Worldwide Mobile Phone Tracker, June 6, 2012
Figure 1: Smartphone operating systems in 2012 and 2016 (forecast)
Source: IDC
Conclusion
Based on all the mentioned facts, you have probably got very excited about developing a mobile app and becoming an app millionaire. Mobile apps promise quick and attractive results in comparison to conservative and established kinds of business. Moreover, in terms of revenue, the mobile app industry is growing annually. People have their smartphones and tablets 24/7 and use apps for businesses, learning, games, etc. A high-quality mobile application that brings consumers real value and unparalleled emotions can translate into enormous profits.
Industries and Technology Areas:
Industries: entertainment, games, education, mass media, advertising, traveling, financial services, banking, healthcare
Technology Areas: mobile application development, iPhone, iPad, iPod touch, iOS, Android, BlackBerry, smartphone, tablet
