Most developers of mobile applications in Singapore are just passionate about the technicality of software programming, without thinking of the business aspect.
It’s not enough to be just a developer who can build mobile apps for any Operating System (OS) or handheld device. You also need to make money off your investments by understanding the importance of how proper planning, marketing, improved user experience and other factors can influence the success of your app.
Many apps are developed daily and not even 5% of them make it to the top, in terms of fame or fortune. Therefore, if you are a developer in Singapore, here some tips to help you get Return on Investment (ROI) from your Mobile App.
Mobile App Categories
As a developer, you need to decide what app category will bring you the best ROI. The top Mobile apps downloaded by Singaporeans fall under Social networking, Games, Maps, and media file sharing categories. Creating a mobile application that offer similar services as Twitter, Facebook, Tinder, Google Map, YouTube, and Pokemon Go, make customers want to try it out. Big companies also advertise on apps in these categories, in order to reach a wider audience. Therefore, developers can make money through these ads or even in-app transactions.
However, you may want to stand out by creating an app that does something unique. It could be one that helps people find the nearest bus-stops in Singapore, one that is automated to order meals, or a mobile app that translates English and French to Tamil, Malay, or standard Mandarin. Using the right marketing strategies and proper timing, it’s likely to get lots of downloads and make impacts, then you can monetize it and get your ROI.
Choose an OS
A survey showed that Windows, iOS, and Android are top on the Operating System market share in Singapore, compared to OS X, Blackberry OS, and others. Therefore, building an app for phones and tablets that work on these top 3 platforms will give you an edge.
Some up and coming platforms may actually invite developers to make mobile apps that are compatible to theirs. You can also take advantage of this and go into a partnership with them and make some real money off their PR.
Freemium App with Premium Features
A freemium app is one which users can download for free. It usually comes with limited content but is still of basic use to the consumer.
Developers need to realise that most consumers get easily put off when the app they want to download is to be paid for. In as much as you want to monetize your app, you need to find less obvious ways to do so.
According to the digital guru at Discount Domains, Brendan Wilde, a brand that hosts thousands of online apps, most of the ROI received by app developers in Asia comes from in-app transactions. “The Freemium model seems to work superbly well in this part of the world,” he says. “I always advise developers to offer their products free of charge, but let users access extra features and upgrades through in-app purchases.”
As stated earlier, when your app starts getting lots of downloads then you can monetize it. Therefore, offering monthly subscriptions to special content that users will want to have, or even providing a premium version of the app (after they have tried the free version) is a great idea. This will get them hooked, as they will help convert others with time – through word of mouth.
Advertise your Mobile App
Developing a mobile app isn’t just about making it available on Google Play Store or Apple Store, you need to advertise your product. You may still be basking in the euphoria of getting an approval from major mobile app retail stores, but users also need to know about your app, it’s features and if it offers solutions to their problems.
Advertise your apps on other apps, create a website where users can go to for more information about it, and also place ads on TV and social media. You can also offer promos and deals to a certain number of users who download the app within a given period. Furthermore, you can pay an app vendor based on the services they offer, like payment for number of clicks or for number of downloads.
These are ways to make your product popular and attract paid in-app ads from potential clients.
Improving User Experience
It’s not just enough to have users downloading your app, you also need to find a way to give them great experience while they use it. In-app advertisements is a good way of getting ROI, but you need to find a way to feature these ads so they don’t become annoying to the mobile device user.
Place your ads at the bottom screen of the mobile device away from the main menu, content and other key features of the app. Also, you can naturally serve interstitial ads using loading screens. This flows with the app layout and does not intrude the user’s experience. Alternatively, you can use in-app video for ads instead of the interstitial format (where static images slide across the app layout).
Making the Money
Once the app starts getting popular and money is about to start coming in from in-app ads and premium features, you will need to figure out how to accept payments. Many developers find it difficult to decide what way is best to monetize their app. Be it monetization through advertisements or virtual currency, don’t play favorites with money.
Although, getting advertised by major mobile vendors, celebrities and agencies may seem like nothing, but it adds to your credibility and makes your product more popular. On the other hand, virtual currency is perfect as long as you partner with reliable financial service providers.
In Singapore, there are a lot of financial service providers willing to partner with Tech entrepreneurs – do not play favorites with them. You can go into partnership agreements with us many of them as possible. Users and clients would want to be able to pay you through the media available and easy for them, so don’t make it difficult.
However, you can as well monetize with just a few by drafting agreements and checking out which works best for you. This doesn’t mean you should relax afterwards. As stated, you need to advertise the app.
Launching a mobile app, cross promotion, viral distribution, and other logistics, all requires money. You can source for a sponsor who is willing to invest money or other resources. This takes off some steam and helps you develop and market the app better.
Sponsorship can also come in form of partnership and advertisements. Take advantage of all. What matters is gaining massive success, which makes monetization a lot easier.
You can call it continuity, but investing time, money, and other resources in solid analytics helps make your product and brand stand out. From external tools to user values and other internal analytics, you will need to make strategic decisions in order for your app to stand the test of time. If you need the help of a mobile app developer to help, go ahead and get in touch with us.
On a final note, mobile apps are often downloaded these days because there more users of phones and tablets than desktops. Take advantage of this trend and make money every day.
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