Mobimatic Review - How To Build An Excellent Mobile App Using Drag and Drop
With so many types of mobile devices and new mobile OS’ coming into the market today, app development is emerging more profitable than ever before. The app developer, even about 5 years ago, had a limited choice of mobile OS’ such as Windows Mobile, BlackBerry and Apple. But today, with the emergence of so many new mobile platforms and their different versions; also with the concept of cross-platform formatting of apps getting more popular; the field of mobile app development becomes a veritable treasure-trove for the developer to make a decent sum of money every month, by way of creating mobile applications.
All the major app stores such as the Apple App Store, the Google Android Market, RIM’s App World, the Nokia Ovi Store and so on, have already made billions of dollars in terms of profit, over the last few years. Mobile apps have now emerged as one of the easiest and best ways to advertise and sell products and services, encourage social sharing of information and generally encourage mobile users towards developing and maintaining brand loyalty.
The mobile app development market is vast and offers great scope for app developers and companies to succeed beyond their expectation, by making very little initial investment. Angry Birds is one great game app that has maintained its immense popularity among the masses.
There are several thousands of popular apps out there, which have been downloaded millions of times by users.
But very few among them are capable of generating the kind of revenue that the biggest players did. The actual reason behind this has nothing to do with the company’s lack of insight.
Quoting the example of Angry Birds once again, Rovio had released a free version of the app for the Android Market. This version also came with an advertising bar on it and this is exactly where the actual revenue came from. Today, the company still manages to earn much more from these adverts rather than from the actual sales of the app.
Of course, the success of an app depends upon the number of people using it, as also amount of time they spend on it. Rovio is an established company that has had years of app development experience behind it. The developer team focused on trying to engage mobile users, creating a game that would encourage them to repeatedly use the app. The company came out with regular app updates, also releasing free versions of the updates, which were eagerly lapped up by its audience. Angry Birds is now much more than a mere mobile app – it is now a brand name, which boasts of users from all over the world.
While developing social apps may not rake in massive returns, combining this with in-app purchasing would be a great way for developers to attract much more revenue from their app. As far as mobile social gaming is concerned, the developer could possibly offer users a completely ad-free version of the game at a nominal fee.
Certain games also make money by encouraging users to purchase virtual cash or enhanced game themes for small sums of money. This technique, while effective, also takes a lot of time and effort on the part of the app developer.
Several app developers and companies are now partnering with mobile brands and carriers to release their apps with them. This could become a win-win situation if it works as intended. However, the app developer would enjoy only a fraction of the revenue in this case, as he or she would have to pass on a large percentage of the profits to the mobile device brand or carrier concerned.
Besides, each of these brands or carriers may have their own stipulation regarding the look and feel of the app. This could end up curbing the developer’s creativity. Nevertheless, this is a good opportunity for new app developers to showcase their work and get noticed in the app marketplace.
An interesting twist to this partnership is coming from the gaming end of things: Gamers are partnering with brands and others to sponsor their play for pay. Twitch gamers, for instance, are making impressive incomes with this switch from app development to play for pay.
Strategies for funding your app
An app is a business.
It means you’ve got options for funding.
If you have access to the money, you can certainly self-fund. It will save you lots of time and effort.
You have the option of a small loan if the costs aren’t astronomical. Also, if you’re capable of writing the code and going through all the other hoops yourself, that’s a solid option.
But the reality is, most people aren’t in a position to finance an app themselves. A quality app has a steep investment attached to it, as you’ve seen.
There’s money out there. You only need to find the right investors and communicate your idea in a way that they are compelled to bet on you.
Best of all, the mobile market is a very attractive one for investors. So how do you get on the radar of the right “money” people?
Understand that investors are looking for a return on their investment above all else. That’s why the first thing we covered was your business model.
It’s going to help you put together a persuasive proposal so investors can be confident that they’ll get their money back in good time.
Know what you are willing to trade for the investment. That either involves giving up equity or agreeing to some royalty-based repayment strategy. You have to pick what’s comfortable for you and what works for your business model.
You may also have to make some tradeoffs. Let’s say that an investor brings a particular skill set and experience that he’s willing to lend you for the growth of your business. That may cost you some more equity.
Royalty deals can be tricky particularly in the initial stage of your business. Cash is oxygen. You don’t want to be sucking the life out of your business while it’s growing.
What type of investor are you looking for? You can’t opt for silent investors, angel investors, venture capitalists, etc. Understand what you are looking for in an investor. Do you want just a money man or a strategic partner?
It’s quite possible that you are not prepared to go either route.
Self-funding is not possible. Investors are not on your game plan.
So, what’s the next move?
What if you can’t afford to develop an app?
There’s no denying it.
Developing a mobile app can be incredibly expensive.
But when you think of what it can do to propel your business, it’s hard to give up the idea of building your own app.
Even if you don’t have the budget to develop it…
Even if your idea is so grand and complex…
A mobile app is within your reach.
The answer (and one that thousands of businesses have begun using) is to use a custom app builder.
App builders like BuildFire allow you to create a mobile app for your business.
No upfront cost. No development expertise.
For a relatively low monthly fee, you can use your app to serve your business needs.
The simplest of information based apps will cost a minimum of $25,000 when sourced from a small app agency.
But with a platform like BuildFire? You can create, publish, and utilize the exact same app for under $100 per month.