Can You Really Get Rich By Creating Apps?
but can you really get rich by creating apps as your primary business?
You can get rich by creating apps as developers. Why is it so? With the emerging needs of mobile devices and smartphones, apps have become an integral part of the economy. In recent days, you will find there are more than five million apps created by developers all around the world and can be downloaded via Google Play Store, iTunes app store, or Amazon in various categories. So, getting rich from making apps as developers is not a new thing.
For business owners, mobile applications have helped them to improve their companies. With the help of developers, when you have ideas, you can easily share those ideas to some perfect platforms like Snapchat or Instagram. Business owners are getting rich from this business model,
If you want to make money and be rich as a developer, creating apps is one of several choices to try. But before you start, as developers, you better follow these steps.
Steps to Creating Apps
The very first thing to do as developers to get rich when you're trying to create apps is look for problems and ideas. Creating apps is not instant. You might dream about getting rich in an easy way. But, it's not that fast.
The very first step for creating apps and getting rich developers is seeing problems happen, then what you can do to solve them. Be creative. Rich and successful developers help people to solve the problem in a way we can't imagine. If you look around, every service and product we use were created to solve problems. For instance, you want to get from one country to another; you have planes. Or you want to get from one place to another faster, and you have a car. So, see problems you find in daily life and list it. Then, start to think about how you will resolve them, and choose one that makes the most sense. Before you get rich from building an app, focus on resolving the problem first.
The second step for creating apps that most developers do is identifying the need of the market. Validate the research you do by using tools. Google Keyword Planner is one of several tools to help developers or business owners know the number of people seeking out what you try to do.
You can also try to build a landing page that highlights your app idea broadly and see user interest from email sign-up.
The next step for creating apps as developers and getting rich is laying out the features and flow. By validating your idea, you get something that people want to have. Then, it's time to detail the product into a document. Be detailed when putting the idea on paper. Mention the flow of how the users use the features and the way to navigate them. This step helps the developers to understand your expectations clearly. The steps to get rich are closer.
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Once the developers write down the features for the apps, you will find various features you need. Step 4 to make you rich by creating apps is eliminating non-core features. Use only the core value of your app's idea. Do not choose features because you like them; choose the functional one. This will help you to keep the cost for making apps. And it also shortens the time to launch. That is the way for creating apps and getting rich step 4.
Step number 5 for creating apps and getting rich is thinking of the design. As developers, on your first try, you may want a basic design and focus only on developing apps. This is so wrong. Design is not only how the apps look, yet it has something to do with the user experience. Design is the way to make technology useful. Thus, as developers, we put design, graphics, and user experience first.
The developers can work with a designer company that has a solid development team. Check on their credibility online and see their portfolios. If the design they bring matches you, the company could be the right one for your apps. This is step 6 for creating apps and getting rich.
The next step to get rich as developers from creating apps is by having developer accounts to sell your app. Register first on the respective app stores to sell apps from their platform. There are two options available, to be registered as a company or as an individual.
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Step 8 for creating apps as developers is integrating analytics. It helps you track user engagement, download, and also retention of your mobile apps. You better use tools such as Localytics or Flurry, which are available for a free and paid version.
Once people download and use the apps, the developers will get feedback. Get them quickly and improvise. Customers will easily give you insight on how to enhance the apps. Changes and enhancements are constant, so focus on users' feedback and keep improvising.
When you get positive feedback from the apps you made, you can start to introduce some new features. This is the last step to get rich when making apps. As developers, when creating apps, at first, you may build one app with a limited version, and now it's the time to give the users the remaining and advanced features. Always use the feedbacks and the analytics to know well what the users want from the apps and whether or not it is relevant to their needs.
As developers, by following these steps, you may get rich from building a mobile app.
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How to Get Rich from the Apps
To generate the revenue of your app, you can use the six monetization model to get rich from creating apps.
1. Selling the App
The simplest way to get rich from creating apps is by making a paid app. As developers, you perhaps get a higher revenue per download and get rich from that. Put the apps on App Store or Google Play Store, and you will have ready-made users. This is just the beginning. To make it successful, promote and encourage people to download and use the apps. You may need an extra budget for this. Or, if you already have an existing audience, as developers, you can use them.
A lot of effort is needed because most developers have to ensure users try the apps and say that it is a good app, even before them being able to experience it.
Another thing to do is to price the apps. If you have no idea, see the average price of competitor apps to know the price of the apps. Also, consider the budget if you want to advertise the apps. Ads make more money, and you can get rich from that.
When you go to the app store, you can see that paid apps are mostly cheap. For instance, in the UK, the top list paid apps cost £5, while only a few cost over £10. Imagine thousands of people downloading it; you can get rich from it.
2. Subscription for Repeating Payments
To get rich from creating apps, some developers also charge their users a recurring fee when they use the apps. There are several options like the monthly fee, or they also offer a longer-term subscription-like quarterly or yearly subscription. And what makes it interesting is that there is a discount for longer use.
This is a common type of monetization with software like service apps that provide media access, such as Netflix, Spotify, or Dropbox, and Microsoft Office.
For developers, subscriptions are great ways to be rich by getting consistent income from people who use their apps. Yet, you need to know that subscription apps are different from paid apps. Subscription apps are free to download, while for paid apps, users will pay at the beginning before downloading.
Having subscription apps is a good way for developers to get money and become rich and also to gain several users. Since some downloads will come up in the app store or play store, which will make the app looks good.
One more tip, to encourage people to download and subscribe to the apps, the developers need to provide users with a free trial. This allows them to get the app for free and gives them have enough knowledge of the product. Do not hesitate to have this model; you can still be rich when doing it.
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3. Paid Apps and Free Apps
If you prefer to have paid apps, you have several things to consider. Paid apps are limited. When choosing this service, people don't have a chance to try it out if first. This can be a barrier for them to stop downloading your apps because they have no idea about the apps. It's hard then to convince to purchase one. Yet, having paid apps is faster to make you get rich by making apps.
To prevent this, as developers, you can offer them a free app and give them the option to unlock the whole app by paying a one-time fee. On App Store and Google Play Store, this option is seen as an in-app purchase because the users don't pay to download the apps. Well, compared to the previous way, using in-app purchases or a subscription is a better idea than having paid apps option. You also can get rich this way.
4. Freemium Model
Developers also can get rich by trying to have a freemium model. The Freemium model offers the users to have the apps for free to get the basic features; then, if they want more advanced features, they need to pay for the service.
Several apps try this way. The developers provide users with limited service per month, while for full access to the service, there will be a fee for it. Users can subscribe monthly subscription or yearly subscription.
This way gives users time to think about whether they want the full service or the limited one. They might not be interested now, but you can persuade them to subscribe later. Multiple layers of pricing are also a good idea to offer, and you can get rich through this model. For instance, you give them a free layer, then a low-cost layer completed with some features, and the highest layer with premium features. To make it interesting and competitive provides the users some discount.
Yes, creating apps makes you rich. Another type of subscription you can try as developers is non-renewable subscriptions. This provides access to features for a limited amount of time. So, the users will only get certain features in the seasonal event.
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How to Use Advertisement
Creating apps is the new way to make money and get rich. Yet, it is not instant; you have to make your apps popular and widely used; advertisement is sometimes used to encourage people to download the apps. Mobile advertising is a big business. Research proves that most digital advertising comes from mobile platforms, like text messages, browsers, and also apps. People who run digital ads also can be rich from this type of business.
Free apps like games or news apps commonly use advertisement. Any other types of apps like paid apps or in-app purchases also use it to monetize their nonpaying customers.
This is a good way to make money and get rich from creating apps as developers without the users having to spend money. If you're interested, try a cost-per-click advertising platform. Google provides some platforms. Try to sign up, and it will let you start putting ads into your apps. Most of the ads come in the form of videos, interstitial ads, or banner ads. Let's take a look one by one. The more ads you have, the more sponsors you get; it’s closer to getting rich.
The video ads that come up in the apps with the duration can be both short and long. Users can skip the ads after watching them for a certain amount of time. When users click on the videos, they will be taken to the advertiser's product. It's a good way for advertisers to convey the message of the apps effectively. Ads videos are often shown before the apps are running or in the middle of the service. Though you publish a free app, the developers can still get rich by charging advertisements.
2. Interstitial Ads
This might be the most effective advertisement used by most developers and make them rich, compared to videos ads since interstitial ads are shown on while screen. The ads are shown in a few seconds, and they will be closed when the users click the close button. Users are guaranteed to watch the ads. The more clicks, the more the ads are effective. Ads will see you promising app to promote and get rich from it.
Yet, for some users, this kind of ad is a bit annoying, especially when it comes up in the middle of the service and interrupts the activities. Think carefully about where to put the ads. As developers, you can show them when users start a new project, new level of the game, or after finished photo editing.
For instance, you can put the advert when users try to leave the app. This will be less annoying since they will only see the ads when leaving the app, not in the middle of the task.
3. Banner Ads
Banner ads will be floating around the content. It is usually put below the screen so that users are not interrupted. This form of ad is easy to ignore, which is beneficial for developers regarding their user experience.
You will find some apps with banner ads like YouTube that fit well with the content that users are watching. By having ads, you can be rich in a relatively easy way.
What to Consider Before Monetizing
Creating apps is today's popular way to make money as developers and get rich. Yet, there are several things to consider before you start to monetize your mobile apps. At least, you need to have a good understanding of how your apps work. Besides, user behavior is also important. The last one is what happens in the market is also another consideration—once you realize the condition, making apps will make you rich.
The Onboarding Process
When the users download certain apps, they will need several steps before the apps are getting ready. It includes setting up and creating an account, also permission settings that allow users to use apps fully. As developers, it’s your job to make it easy.
Some users are overwhelmed with all the things to do before using apps. Making your apps easy and simple to access is important. Also, create the intuitive one, or people will seek other alternatives.
As developers, provide users with engaging instructions and fast and simple tutorials, which are useful. And do not put ads or banner advertisements in this process. You don't want to ruin their happiness, do you?
Here are what you can do as developers if you want to be rich by creating apps.
1. UI and UX
According to several types of research, most apps are removed because of poor user interface and poor user experience. Even if the app is highly useful or great, if it's too difficult to operate or navigate, users will choose to move to other options. Creating apps is not as easy as it seems, but if you’re doing it the right way, it brings you to be rich developers.
Developers work with UI and UX designers to make an excellent app. Before getting rich by creating apps, make sure that your apps have an excellent design with excellent performance. What users seek are simple, intuitive, and easy-to-use mobile apps. Also, consider what your apps are aimed for, whether it is for computers or mobile phones. The developers may design it on a computer, but you as developers have to design it with a mobile device in mind. Provide users with a testing version of the apps.
2. Glitches and Bugs
Apps with major bugs stress out users. Imagine doing the task, and when you want to save it, it stops working, crashes, and closes without it saving all of your work. Or when you're playing the game until round 20, and it has an error. Well, you may not want to touch those apps again.
So, make sure when you’re creating apps, and before launching, you test them first. Or you can ask for users to test it out and see their feedbacks. Fix the bugs and launch. There is product analytics that can help developers detect bugs in their apps. This problem prevents you get rich from making apps.
3. The Uniqueness of the Apps
The app market is flooded with various apps that sometimes have the same offering for users. It's much easier when you, as developers, are the only app available. Users are hard to leave. The more download, you will get rich easier.
If you don't have to stand out features that attract users, your apps might be off the market. See something that other developers don't see. For instance, you're making apps for kitchen appliances. Try to use an augmented reality app that will picture your user's kitchen when installed with your furniture. Or diet apps that provide users with calories intake of specific meals.
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With these unusual features, your apps will give a different experience for users. Yet, if you as developers have other ideas like offline mode features, chatbots, or multitasking abilities outside the apps are also great to apply to. See the market, and get rich from creating apps.