How to make money with web applications
Introduction
Having a web application was a premier aspect for businesses once upon a time. Not anymore. Now you are considered obsolete if you don’t have a mobile app for your business. Web applications and websites go hand in hand, and you can integrate your applications with ML and AI to make an impact. Mobile applications, integrated with these latest technologies can really reach out to people, and connect with them.
How can Machine Learning and Artificial Intelligence help monetise apps
ML and AI can really drive the value of your web app. Machine Learning is an exciting field, a world in itself, and you can do a lot of things with it, including solving problems, doing digital marketing, doing voice search, recognizing voice, translating automatically, drawing inferences and so on.
It is a branch of Artificial Intelligence (AI) and the computer learns, self-learns and programs itself. There are ML algorithms that detect patterns in the data, and make predictions based on that. This is how you can follow customers’ buying patterns. The algorithms learn through experience.
ML works by little or no human input, it has to make actions based on previous incidents.
When you have apps with the latest technologies, more people will download them. Your apps get noticed for being the most downloadable app as well.
Making money from downloaded apps
According to new analysis it is getting harder than ever for mobile apps to get to the top of the App Store, and secure downloads. Interestingly, if you have apps that get downloaded by the second, it wouldn’t get to the top of the App Store. You have integrated your apps with the latest technologies, namely, ML and AI, but you will still need to work to make it the most downloaded app.
While app downloads are still part of the equation, that’s not just the point here. It is important to consider factors like quantity of new users, app usage, velocity, etc when you look at the success factor of the mobile app. Of course, it varies depending on the provider. The number of required iPhone games and Android games are different for it to figure in the list of successful applications. And it depends on the country too.
Free apps and paid apps
You need to have paid apps to make money from each download, because obviously free apps don’t get any money. You can plan for a subscription-based app so each time a new subscriber downloads your app, you .Or perhaps, you can choose to go for the freemium app model. In this model, users can download the app for free, and they can enjoy some basic features for free. But to use others, they will have to choose from the package plan that you offer.
Freemium model is the most popular monetisation strategy in the market currently. So, when you are spending money to build an application, this is a sure method to earn money from your app.
Sure ways to make money from your app
Since there is a lot of expenditure involved in the release of your mobile application, you need to have some sure ways to make money from it. It is true that having the latest technologies like AI and ML will definitely improve the value of your app, making it popular, prompting people to download the app. And in-app advertising also helps a great deal, and you might already know about that. But complement those technologies with these smart moves, and you are good to go:
1. Your choice of platform matters
Depending on the business, you need to decide on the platform best suited for it. You can choose to release in both platforms (Android and iOS), or just one. But remember, the popularity of the platform, and market penetration are definitely deciding factors. You can also explore other platforms like Blackberry OS and Windows too. Perhaps, it would be a good thing to wait until you earn big from popular platforms, and then port to niche platforms.
2. Sponsorship
This is an interesting way to make money from your app. Depending on what kind of business you run, you can get in touch with connected brands and display their ads on your application. For this, you need to analyse the visitors that frequent your application and control the ad type based on it. This is where ML can help you. ML algorithms can detect patterns in the data, and make predictions based on that. This is how you can follow customers’ buying patterns or browsing habits, and give suggestions based on that.
Just get in touch with companies that are likely to sponsor you based on this. There is only one thing to remember, you need to connect with sponsors that have the same target audience as yours.
3. Choosing an app category for your business
The category is so important. If you have a games app, then be assured that it falls in the highest grossing category. You can also earn plenty of money with online shopping apps, with music apps, education, travel apps, etc. Check out the highest grossing apps that would be best suitable for your business, and you can start earning money.
Things to consider while developing mobile applications – The Four Point Piller
While planning to develop mobile applications, keep these things in mind as well:
1. Target segment
Different kinds of people need different kinds of apps. For example, if you are developing an application for business people, the app should be a no-nonsense one, an app that doesn’t waste their time. On the other hand, if you are developing apps for kids, you can make it frilly with several free options. Knowing your target segment is so important if you want to earn money from the app.
2. The purpose of your app
The monetisation value of your app will improve if it solves an issue. Obviously the target audience would want to know why they should be paying for your app. The app should provide the answers your target is looking for, serve their needs and keep them happy.
3. Knowledge of competitor apps
While monetising your own apps and releasing them, check out competitor apps and perform a thorough analysis. This would help you understand the strengths and weakness of your own app, and Crete a better design with kick-ass functionalities.
4. New technologies provide better monetisation
Incorporating newer technologies will definitely increase app monetisation, example, block-chain based applications.
Interesting Links:
What are the ways to make money using web applications?
Pictures: Canva
The author: Sascha Thattil works at Software-Developer-India.com which is a part of the YUHIRO Group. YUHIRO is a German-Indian enterprise which provides programmers to IT companies, agencies and IT departments.
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