As of last year the world has more mobile devices than number of people on Earth. Putting that in perspective that is over 7.2 billion connected mobile devices. The evolution of mobile technology and the proliferation of smart devices has encouraged many companies to look for ways to capitalize on this opportunity by launching mobile applications that promise to meet almost every need that consumers and businesses have.
Today there are more than three million mobile applications available for download in the two dominant app stores, Google Play and Apple's App Store. Many companies, however, are failing to generate adequate revenue from their apps. Without revenue companies struggle to find the resources to further market and grow their user base.
In an already crowded and highly competitive mobile application ecosystem, how can a new mobile app stand out from the rest of the pack and be profitable?
Here are some tips on marketing and monetizing your new mobile app:
1. Research the app market: Find out who the key players are in your app category and invest the time to understand what your prospective audience values in an app. Research and identify keywords which will help put your app in front of your desired audience. Compare your app to others in the market to see how your app stacks up against the competition.
2. Determine your monetization strategy: According to a recent report by research firm Vision Mobile, 51% of mobile applications are below the app poverty line, with revenues reaching up to $500 per month per application (up to $6K/year). Only a small percentage, 4% of mobile apps generate revenues over $500,000 a month ($6M+/year).
Mobile apps that are below the app poverty line persist on following the simplest revenue model implementing paid downloads and advertising which are not yielding the desired revenue results. Advertising can be a significant source of revenue for some mobile applications, but according to Vision Mobile’s research, it works bests for applications with millions of users who frequently engage with the app.
3. Develop your value proposition: Compelling messaging is the foundation of any external marketing activity. Identify what’s unique about your new mobile app, what sets it apart from competitors and articulate your app’s value proposition into your app description and marketing materials.
4. Create a microsite for your app: The web is among the first places your prospective users go to get information. A microsite serves as your digital storefront where users can get comprehensive information on your new mobile app.
5. Develop an app trailer. Trailers or promotional videos are a great way to demonstrate what your app does in a concise manner and can easily be shared through social media channels.
6. Leverage digital marketing and social media: Use a combination of digital marketing and social media tactics to generate awareness for your mobile app and drive app downloads.
7. Build a list of key media and bloggers: Identify key media contacts, bloggers and influencers that cover related topics, develop a press kit and reach out to these folks to help you generate publicity and buzz for your app.
8. Get external help for your marketing if you can’t do it in house: Your company may not have the resources or the know-how to handle a mobile app launch. If you are looking for marketing assistance, you've come to the right place. My company, Marketing For Tech, can help.
A successful mobile app launch requires good marketing planning. Planning your marketing strategy takes time and should start well before app development is completed.
In an already crowded and highly competitive mobile application ecosystem, how can a new mobile app stand out from the rest of the pack and be profitable?
Here are some tips on marketing and monetizing your new mobile app:
1. Research the app market: Find out who the key players are in your app category and invest the time to understand what your prospective audience values in an app. Research and identify keywords which will help put your app in front of your desired audience. Compare your app to others in the market to see how your app stacks up against the competition.
2. Determine your monetization strategy: According to a recent report by research firm Vision Mobile, 51% of mobile applications are below the app poverty line, with revenues reaching up to $500 per month per application (up to $6K/year). Only a small percentage, 4% of mobile apps generate revenues over $500,000 a month ($6M+/year).
Mobile apps that are below the app poverty line persist on following the simplest revenue model implementing paid downloads and advertising which are not yielding the desired revenue results. Advertising can be a significant source of revenue for some mobile applications, but according to Vision Mobile’s research, it works bests for applications with millions of users who frequently engage with the app.
3. Develop your value proposition: Compelling messaging is the foundation of any external marketing activity. Identify what’s unique about your new mobile app, what sets it apart from competitors and articulate your app’s value proposition into your app description and marketing materials.
4. Create a microsite for your app: The web is among the first places your prospective users go to get information. A microsite serves as your digital storefront where users can get comprehensive information on your new mobile app.
5. Develop an app trailer. Trailers or promotional videos are a great way to demonstrate what your app does in a concise manner and can easily be shared through social media channels.
6. Leverage digital marketing and social media: Use a combination of digital marketing and social media tactics to generate awareness for your mobile app and drive app downloads.
7. Build a list of key media and bloggers: Identify key media contacts, bloggers and influencers that cover related topics, develop a press kit and reach out to these folks to help you generate publicity and buzz for your app.
8. Get external help for your marketing if you can’t do it in house: Your company may not have the resources or the know-how to handle a mobile app launch. If you are looking for marketing assistance, you've come to the right place. My company, Marketing For Tech, can help.
A successful mobile app launch requires good marketing planning. Planning your marketing strategy takes time and should start well before app development is completed.
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