You’re going to discover 3 trends for App Business Success.
Three Things to Focus on Succeed in the App Business
Surviving in the app space can be challenging. So, for those who want to succeed in the app business, here are some tips for you. Focus on these three key things and see a difference in your business’ performance.
I’ve been talking about growth multiple times and it’s important to take note that it’s impossible to enjoy sustained growth without retention. The basis part is retention and on top of that is monetization. The more users stick in your app, the more money you will make and the more money you can use for growth.
Retention drives that big cycle. So, everything starts with retention because you can’t drive sustain growth without this. Always remember that sustained growth comes from monetization and you can’t monetize without retention. One of the ways to encourage users to stay in your app is through push notifications.
Subscription is another key to be successful in the app space. People love to invest in businesses with recurring revenues and you can achieve this through subscriptions.
Apple is taking less with your subscription. In the first year, they will normally cut 30% but after that year you will only have to pay Apple 15%. If you notice, the top grossing apps in the App Store today all offer subscriptions like Netflix, HBO, Hulu, and Pandora.
The good thing with subscriptions is that it promises you constant revenue. If you keep your subscribers and only lose a few every month, your cash will pile up. That is why subscriptions are very attractive to business owners and investors.
Google Universal App Campaign (UAC) is another approach to leverage your business in the app space. A number of my guests from the virtual summit confessed that they took a lot of their Facebook money and put it on Google. They did so because they saw better results in Google UAC than on Facebook.
For those not familiar with Google UAC, all you have to do is provide a few lines of text, give some design assets like banners or video, and Google will do the rest. Based on your CPI targets, Google will put it on the web or mobile search, Google Play, YouTube and even on Google Display Network.