Big startup success stories often revolve around web development and app development companies. Tech savvy entrepreneurs make headlines of doubling income during day and quadrupling during night. Every business whether small or big needs a website and app. Design & Development companies are the most benefited from the revolution in computers and mobile phones. But how do they make big money?
Here I am showing you in simple ‘ABC’ manner how to do that?
- Offer a service and make money.
- Offer a service that everyone love to buy and make your company public
- Offer a valuable service and seek acquisition
Offer a service and make money
You must need to gather money from some sources. Criteria vary for both websites and apps. For the very reason here we go one by one.
Earn money from apps
If you charge your customers for app download perhaps it won’t go viral. Nobody will like to pay you for download given its not too specific. If your app is pretty cool and can fulfill people’s needs in true terms then you can charge for it or go for a subscription based model.
Generally apps are developed to penetrate target market. Any app competes with thousands of already available free apps also called freemium. Customers are more inclined to try out freemium apps. Thus at this point you are left with two choices In-App Purchase and Advertisements.
In practice, implementing in-app advertisement is super easy but in this model revenue generation is quite a slow process. You can expect to get rich but this will serve you as a side income source. With proper planning and execution you can make it a profitable resource.
These are some methods only. Money making ways could be any and many. If you can always come up with better business plan and implement the same with a strategy. Remember, failing is the process of entrepreneurial journey. If your first app or first website is not making good money do not give up instead try out new methods and new strategies to make it profitable.
Here are some ideas to kickstart your brainstorming session:
Earning money from advertisements: You can make deals for brands to feature in your app. For example; something like Twitter’s promoted post or Facebook promoted post model.
Take a share on transactions: If customers make transaction through app, you can charge a small fee. For example like Paypal or Snapcash.
Earning money from websites
You cannot charge anything to audience for viewing your website. However, you can offer a service through your website and charge for it. Best is to offer free service for sometime till you get known. Or you can offer some part of services free and charge money for full features. Like Hootsuite.com is a website for social media management. They offer free services but not all. For full feature access you need to subscribe.
You can run ads on your website like Google Adsense to earn some money. However, create custom advertising solution to enjoy full potential of your website. Normally ads do better on website than Aps.
Setting online store is one more way to sale goods and earn money. If you have some product, you can sell online and earn money. If not you can set a website like ebay or flipkart and earn revenue from sellers.
User acquisition is pretty tough; you have to give your audience a reason to hangout on your website. Your main focus should be user experience. If they like your website, they will revisit it and bring many others with them. Once you start getting good number of users on your website many investors will be interested in making investment on it or if you are lucky enough someone will buy it.
Vironit.com is web application development company. We have got massive experience in servicing to industries both public and private sector undertakings. Since 2004 we have served many clients worldwide. Ecommerce, Mobile, Social Media, Customize Productivity Tools, Casino or Billing, You name it, we have it.