How to make money with your own app

Cum sa faci bani cu propria ta aplicaţie

 A difficult way to make money, but one that has a lot of potential.

In fact, there's no reason why you can't enter the app market, tech-savvy or not, and make some money out of it.
Read the guide provided by the specialists PANDA AGENCY to start working on your own app here.

Concept development

The first step on your path to a profitable app is a great idea. Start by thinking about what kind of app you'd like. Chances are many people need exactly that type of app. For example, you might consider the area where you live. If you live in a city that attracts tourists, the possibilities are endless.

You can also consider your personal interests... Maybe you're a coffee aficionado and have discovered some great places around the world. If that's the case, why not turn your knowledge into a guide app to help other coffee enthusiasts?

Quite a few apps are not centred on a specific locality, but are at the top of the lists. You probably know many of them: Temple Run, Draw Something, Minecraft....

Game apps tend to make more money than other types because people tend to pay more for them. Games that become popular in certain social circles will spread most easily. Many apps gain popularity through word of mouth alone.

Don't give up if you find something in the app store that looks like your idea. This is the point where you need to think outside the box. What does your app have that other apps don't? Maybe you collect personal feedback from cafe owners, provide information about what's special about a particular cafe or what coffee you should try somewhere.

Try to develop an idea that doesn't have much competition. However, if you run out of other ideas, you can take a look at popular apps and think about whether you could do something to improve the concept.

Here are a few things to keep in mind as you develop your concept:

  • Are you planning to develop the app yourself or do you have the resources to hire a team to help you?
  • Who is the target audience of the app?
  • Will your app require daily management?
  • Is your app built on top of an existing company or is it standalone?
  • How much are you planning to charge for the application?
  • Do you want your app to become a full-time job or would you prefer it to be a side project?
  • Which websites should your application be published on?

Types of applications

There are many types of applications. Here are some of the most popular:

  • Games (Word With Friends, Draw Something)
  • Travel (TripAdvisor)
  • Social networks (Facebook, Twitter)
  • News (BBC, DR)
  • Music (Spotify, TDC play)
  • Photos (Instagram)
  • Video (Vine)
  • Tools (Google Translate, Flash Light)

Here are some of the most frequently asked questions when looking for a developer:

  • How much do they charge?
  • Who else have they worked for?
  • Are their apps popular?
  • Will you acquire full ownership of the app when it's ready?
  • Do they have the skills to realise your idea?
  • Does it work in both iOS and Android, etc.?

Cost

You have to spend money to make money. Or so they say, anyway. But the saying doesn't always apply in the world of apps. For now, let's say you've decided to hire someone to develop your app.

Depending on the application you want to develop, the price is between 4 000 lei and 1 500 000 lei. Of course these amounts seem huge, but you should bear in mind that the right app will pay you back pretty quickly. What's more, game apps that are the most expensive to develop are always at the top of the charts.

How much can you earn?

Since your earnings depend entirely on the popularity of the app and how much you choose to charge for it, accurately calculating your salary as an app owner is very difficult. If you're not sure you're the next Mark Zuckerberg, you might not want to quit your current job just yet. The website GigaOM Pro conducted a study showing that half of their subjects earned less than 2500 lei per month. Not enough for a decent living, but a nice amount of pocket money.

Or maybe you'll invent the next Angry Birds and earn over 6.5 million - a month...! There's definitely potential to become a millionaire here.

To get the most out of your app, consider the following tips:

  • Make sure you target a large audience and not a small niche
  • Start at the bottom and work from there
  • Keep track of which apps are on top
  • It's now easier to make money fast with iOS apps
  • Ask your friends and family to rate and leave a review for the app
  • Consider making an iPad version of the app
  • If your app is based on an existing company, advertise it heavily on your website and/or social media

When you sell on the App Store, Apple takes 30% of the profits, while the rest will be transferred directly to your account each month.

For more details contact the specialists PANDA AGENCY to start working on your own app. Contact


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