How to Maximize Revenue from Your Mobile Apps

According to analyst Josh Martin of Strategy Analytics, if you want to make money from a mobile app, free is the way to go. Because it’s so difficult to break into the top 10 or top 100 of the paid app lists, it’s tougher to build a hit. In addition, consumers are less likely to accept advertising or pay for virtual goods in a paid app. Although he acknowledges that the mobile app market is changing quickly, he recommends the following three pieces of advice for mobile developers who want to generate revenue over the long term:

  1. “Consider an alternate business model (advertising, virtual goods, etc.) to paid downloads.”
  2. “Implement social networking features to increase usage and thus drive long-term revenue opportunities.”
  3. “Focus on virtual goods with have minimal costs, such as keys to unlocking more content or acquiring items more quickly.”

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