How to make money with mobile apps

Focus on providing customers a great value proposition. If you’re making games, they need to take maximum advantage of the mobile experience. Angry Birds is the best example of this. The gameplay is simple and you only need a few minutes to play to the next level. It’s ideal for mobile. Sustaining success in digital media is more challenging, we’ve seen huge companies rise and fall in only a few short years. Being flexible enough to evolve is key, but you also need to develop a strong sense of what works in digital and stick to it.
Once you have an idea that works, then what? How do you turn that into profit?
There are four—and only four—ways to make money with apps. The most obvious is through paid downloads, in which you set a fixed price for your app, customers purchase it, and the transaction usually ends there. You could also seek an exclusive sponsor for your app. It’s not the most economically sustainable method of monetizing, but it might help you establish yourself enough to make your next app a success. Then, there are the increasingly prominent in-app purchases, in which your customer might not have to pay anything at the beginning (”freemium”), but will have the opportunity to make purchases within the app to enhance the experience
And finally, you can sell advertising space within your app. Provided you have a good match between app and advertiser and an installed base large enough to support the volume of impressions needed for profit, this can actually make you more money than you can with a pay-per-download model. I always recommend developers mix and match models to their particular app business. The more monetization strategies you can employ, the more money you will earn.
What about marketing?
With over one Million apps in the world, competition is fierce. You can have the greatest app in the world, but if you can’t get the word out about it, nobody’s going to download it.

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