How New Mobile App Ideas Help Entrepreneur to Make Money in 2021

By Ronak Patel   |   14 August, 2020
How New Mobile App Ideas Help Entrepreneur to Make Money in 2021

Are you an entrepreneur, a start-up company, or an Investor thinking about to start a new start-up business using new mobile app ideas?

Are you searching about how to make money using new mobile app ideas?

Would you like to make some money with an app during the COVID crisis? Or, you might have just come here to know more?

You have landed at the best place, though! Beat out the boredom of the 2020 lockdown and make money by developing such on-demand app ideas!

Let’s learn more about…

How do mobile apps help businesses to grow?

Mobile apps were designed for the purpose of making business services of all kinds easier to seep into the society and make opportunities for every single person to avail it. Say, a taxi booking app as in Uber, Ola, or any transport applications, like Rapido, UberBike, TrainLine Uk, Citimapper, Moovit. There are even certain logistic apps like The Porter, BlackBuck, Moovo etc. and even the inbuilt tracker apps for certain shopping websites like Flipkart, Amazon, Snapdeal, Nykaa etc. Imagine how life would have been if one would not have been able to track their commodities!

Why an app need to be built and how to make money out of it?

One needs to ask oneself as to

  • Why one needs an app?
  • How the need and the app development change the lives and, most importantly, how to make such apps?

The app development company or the readymade app solution provider of the app has to go through the jigsaw puzzle of ideas, where everything might seem haphazard.

Certain steps are required to keep in mind before monetizing one’s excellent idea-

What do you need to know before making an app?

A needs analysis is required before building an app; the requirement needs to be addressed first. Again it is not that entrepreneurs start addressing every need! A need which is common among people.

We have seen Uber like a taxi app development company or any such transport apps, facing issues while looking for a vehicle incurring the loss of time and hence the very idea came up. Waiting in a queue in medical shops for a long time when one is occupied with work is hectic. Thus online pharmacy apps like BookMeds, SmartMeds and many others came up. Needs analysis also includes the budget and expenses one needs to plan beforehand from saving oneself from incurring a loss.

Bit of homework, Know more: 

It is very necessary to keep oneself updated by doing some petty school homework like tasks, like going through other apps in various app stores especially Google Play store, iPhone app store, Samsung app store, etc. to keep track of what similar ideas are already present. A careful study of the reviews and features will help in the better designing of the apps and it might also help in including some other features altogether which one might need in the future. This will help in the constructive development of the app idea.

To-do list after creating the idea:

After the new app idea is created, one needs to check for words that describe the app. It is all about the game of keyword that matters, which app would pop up first, so it is significant to analyze critical words and maximize the popularity. Tools like AppAnnie, Google keyword Planner etc. are very useful.

Check out our article: Sure-fire Ways to Protect Your App Idea from your Rivals

What are some monetization hacks for mobile apps?

Using various other social platforms like Facebook, Twitter, Reddit, and even Whatsapp, it can be an excellent option to familiarize people with the plan. Creating a poll becomes very handy in Twitter and Facebook nowadays, which is extremely useful in having a fair vote. Before making it into a designed app, it is essential to know from people what they feel and how beneficial they are. Even asking for personal opinion via telephonic conversations might sound for a poor idea, but it works wonders as it helps in the addition of ideas.

What are some common tips to earn money from mobile apps, read now!

How advertisements help in monetizing apps?

We see that advertisements are the soul of monetizing an app. The maximum revenue is through ads.

Once all these are sorted up, half the battle is won, the app just needs to be designed by a professional, budgets need to be finalized, payments are made, and future prospects are thought and good to go. What is important is monetization, apps can be monetized quickly by including advertisements. A careful study of the market conditions will help in attracting better advertisements.

Membership fees can also be charged where different perks will be offered to people helping them to avail discounts. Banner advertisements and interstitial apps are also very beneficial.

According to the data from Smaato, video ads had an install-to-purchase conversion rate of 4.8%, while display ads had a slightly lower install-to-purchase conversion rate of 4%.

in app video Ad spend
Check this out, in the above image; we can see how the in-app advertisements have been displayed. So the inapp purchases must not be forgotten because this is what attracts the customer/viewer a lot. Revenue from customer data is also a good way of monetization.

Global Customer Spending in Top 100 Subscription Apps by Revenue

According to BusinessofApps – In-App revenue increased by 34% in 2020 and reached to $10.3bn on App store up from $7.8bn in 2019 and to $2.7bn on google play store up from $1.9bn in 2019.

Monthly App Revenue

According to Statista Report – During the June 2019 survey, a 36% of people stated that 10 to 30 percent of their apps generated ad revenue.

Last but not least, one needs to know a bit of business analytics tools to help the idea go smoothly. What else does one need more! Get going! It is almost done and here you go monetize it!

Last but not least, enhancing and maximizing some quality time in writing and explaining the use of different apps to people will also increase their popularity of the new app idea first and the app later. Apps can also be made specific to gender like apps related to women, where they can buy their necessary commodity, and invest some time in learning new hacks and can also start a new business.

Moreover, apps have become the watchword in the current situation owing to the Covid Crisis. People have been investing a lot of time on these apps for availing services like medicine, groceries, etc. because of its lesser contact policy or no contact.

Prior to the coronavirus, emarketer expected US mobile ad spend to grow 20.7% to $105.34 billion in 2020, which would mean that mobile ad spend would account for more than two thirds (68.1%) of digital ad spend.

Mobile applications have become an indispensable part of the lives of the 20th-century people; with the growing economy, communication and want for a better and easier mode of life, people tend to rely digitally on as it serves the need of the hour immediately.

How do people who develop apps earn money?

The mobile app development of more and more mobile apps serves a dual purpose; it helps the users in numerous ways as per their needs and creates job opportunities for employees working in it. Say a gaming app, and it is the latest way of earning money for app development experts and engineers.

Check out our article: Mobile App Monetization Strategies – Top Methods to Earn from App

How to Validate New App Ideas?

Coming up only with new ideas would not help much. Dig in, invest and again advertise. To validate your app, you need to check and re-recheck what the existing apps in the store are. It is essential to find out what other similar apps are there in the market, which does the same work. Following are some tools which will help you validate them:

AppTweak-

It is a kind of ASO tool that helps you check the similar app ratings in the store and their position. They even find out whether it got featured on the homepage. If you find that the existing apps have high download earnings and good ratings, it is advisable not to invest money in your idea. Why to face competition in some sense that is old and outdated? It might be risky to invest before building the app!

CrunchBase-

Another excellent tool/app which is mainly used by professional entrepreneurs to discover new companies and connect with people who have similar taste. It is trusted by many around the globe. Proper research on this app will help you rethink of better business opportunities. It is also essential to check whether the existing apps have been raised funds; if funds are raised, it means the app idea is good enough to hold investors.

Check out our article: How to Find Investors for your App Idea? Get your Funding the Easy Way…

Check your keywords- 

Your app idea must have few common keywords that would appear in the searches and describe your keyword. Use AppAnnie, a tool that will return the search popularity or the search volume of the keywords. In this way, the keywords will be famous among the users, making your app idea memorable. Google key planner tool can also be used to check how many searches might have occurred on that particular word in a month.

 

In these above ways, one can successfully validate the new app ideas and transform them into successful and famous apps that makes money.

Transform App Ideas into Reality
Conclusion

All doubts sorted about how to make new app ideas to make money?

Read, Explore, Create Idea & Validate!

What else?

Unlock your ideas on how to make money with mobile apps! 

Why don’t you all start earning money by apps: advertise, popularize, utilize your time during the Covid, develop a skill, and know your apps will make you famous!

Ronak Patel

Ronak Patel is a CEO and Founder of Aglowid IT Solutions, an ever-emerging Top Web and Mobile Development company with a motto of turning clients into successful businesses. He believes that Client's success is company's success and so that he always makes sure that Aglowid helps their client's business to reach to its true potential with the help of his best team with the standard development process he set up for the company.

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