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Making Money with Mobile Apps – Part 2

by Dan on June 29, 2012

How to price your mobile app

This is another thing that is quite important to get right. The general price of apps is relatively low anyway (usually between £0.99 – £9-99) but you still need to consider the value of your attributed to your app before you slap any old price on it. A lot of customers will buy some of the lower priced apps without much thought behind it, because at the end of the day it’s not a huge amount of money to waste. However, many may assume that an app priced so low won’t have all that much too it and assume that it’s not worth it.

This is why it’s so important to get things right. When considering your price first think about how much value it is going to offer to the customer. If you think that it could be a “must have” app that goes far beyond the competition then make sure you price it that way. If you think it’s more of novelty that most people don’t really need then offer it at a bargain price, try and push the buttons of those that tend to buy on impulse upon seeing such a low cost.

Also consider the time, effort and money you have put into this app yourself. At the end of the day if you have invested so heavily in it then the last thing you want to do is practically give it away, where is the benefit in that? If you feel that what you’ve given this app equates to it being on the higher end of the pricing scale then go for it. Such investment usually naturally leads to its just reward so you have nothing to worry about there.

How will my app make money?

The first challenge is getting your newly created app accepted by the online app stores. Hundreds of apps are constantly being submitted so they won’t just accept anything and everything. The app needs to provide value, and this is usually done by creating something innovative or something that can stand up against the competition, or just anything that can help people and businesses with their day to day lives. Hopefully, getting your app submitted won’t be too much of a problem if you’ve done a fair bit of research before having it developed.

Once approved you may get lucky and find that your app sells like hot cakes from the get go. This would obviously depend on what you are offering however, and in reality it can be difficult to make sales if nobody knows your app exists. There’s only one way around this, and just like with any other product all you have to do is spread the word a little! Here are some of the best ways in which you can let people know about your app (and the great thing is that the methods are likely to be something you’ve experienced before):

  • Blogs – Search for blogs and bloggers that frequently talk about mobile devices and apps. Communicate with these and see if they’ll be willing to feature what you’ve created. Most would probably do it for free, as bloggers are always looking for something new to write about!
  • App Contests – Enter your app into some online contests. If your app is good enough it may even win, but either way at least you’re getting some free exposure for your brand new app!
  • Social Media – I’m sure you use social networking in some way already. Use it to your advantage and spread the word amongst those that you network with. Even consider setting up pages exclusively for your app, and subscribe to pages and groups related to your app.
  • App Review Sites – Submit your app to free app review sites online so that they can review your work. Don’t worry about a potentially negative review, there’s no reason for someone to give you one unless it deserves one. And even if it does, at least you’ve gained some exposure for your app, which is better than nothing.
  • Free Version – If there’s a lot of depth to your app then think about offering a free trial version. This could be in terms of limiting some of the features for example, but still leaving enough for the user to experience the full potential. Even think about including paid ads, which you could potentially make more money from!

There are endless possibilities for mobile apps at the moment. As mentioned previously the demand is huge, people and businesses are relying on them for entertainment, sources of information, organisation and much more. All you need is a great idea and you could easily be making money with mobile apps for yourself.

Best,

Dan

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Making Money with Mobile Apps – Part 1

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