In today’s world, there are more than a million applications in existence. There runs a question in every application developers mind, i.e. ‘How can we break through?’. As there is a continuous flow of advancements in the field of mobile computing and in technology, their job becomes tougher. The application industry has become more competitive and consumers are being fickler and more informed. Even though there are various types of applications in the market, the one application which has all the requirements to satisfy the users will ultimately stand out.
1. Your mobile application platform must be chosen wisely:
There are only three major stores in the market. They are Google play, Windows store, and the Apple application store. Your decision regarding the choice of a mobile application depends on your application monetization strategies. It further depends on whether you want to build a cross-platform application or a native application. The Apple App Store’s revenue generation is much higher than Google play because Apple pays more to its developers for the building of applications and sell them, not for free. It is always a better option to rely on monetization through advertising. You may earn more revenues through advertisements in-app than by selling applications up front. Windows store allows you to run mobile applications on a Smartphone, PC, and tablet simultaneously. By this, more downloads can be done on more mediums.
2. Design a realistic business plan:
A business must never be too complex. It should be written diligently and thoughtfully. It should be easy to understand an must consist of all possible ways through which you can operator your own business and grow by earning good revenue.
3. Good design for your applications:
Even if you have a great idea or concept regarding an application, you still cannot achieve success in executing it. All this is just 5% of the whole process. The main significance lies in the idea of transforming any concept into a superlative design. An application that is developed is used by the target audience. So, any design must be good at its looks, feel and must resonate well with the end-users. The navigation must be made user-friendly, seamless, intuitive and also minimization of the learning curve for your application users must be made possible. A user interface must achieve a good understanding of target users in determining a few factors such as gender, age, nationality, location etc. Use eye-catchy colors for your product design to attract people’s vision. To achieve all the above, the following fundamentals can be used during designing:
• Less is more
• Big buttons and huge fonts
• Pixel graphics perfection
• Good navigation
• Superlative design of icons
Once a design is made, you must test it and make any further irrational if needed. Your business revenue does not depend on the. So, make sure that it achieves success for all your applications.
4. Marketability and reach:
Your distribution strategy of an application can either break or make a success. The most difficult thing an entrepreneur can do is to reach his customers. There are a multiple Chanel’s for application marketing. You must design a strategy which is strong and lays down clear objectives for achieving success.
5. Work upon building a team:
You May start as an independent mobile application developer, but to grow and achieve more success you need a group of people to support your business. By doing so, your burden and responsibility will be reduced, and you can make decisions more wisely. You can also hire an advisory who will give out unbiased pieces of advice leading to the growth of your business.
6. Manage your finance:
Financial strategies comprise of budgeting, cost-benefit analysis, and deadlines. which on a whole play a crucial role in the success of your application. There are many free applications available for download. Such applications get revenue through in-app purchases. Free initial access to an application will be provided initially, but later the developers charge for their upgraded versions.
Scalability factor defines how flexible and adaptable is your application to the customer’s feedback and how interested are you in making the required changes and deliver an improved experience over time. Initially, begin with a small segment and later you can move on to enlarge your reach after achieving success.
So, these are the 7 steps you must take initiative to develop an application business and achieve good success and revenue. It all starts with a good idea, followed by designing a plan and executing it. Marketing, budgeting and support servicing are also some of the major factors that beginners should consider while starting an application business.
Want to make your startup journey smooth? YS Education brings a comprehensive Funding and Startup Course. Learn from India's top investors and entrepreneurs. Click here to know more.