The good news for mobile entrepreneurs is that business opportunities for mobile apps in 2014 are still there. Mobile traffic is growing 1.5x times a year. Moreover, the trend is likely to continue due to the increasing number both of devices and usage patterns.
Nevertheless, the increasing competition in the app markets creates serious challenges for mobile entrepreneurs in acquiring new users and monetizing existing customer base. Back in 2008, the key to success was beautifully designed and steadily performing iOS app.
5 years later a mobile entrepreneur has to open the marketing door besides having the right product keys. Creating money making app product transformed into a more complex mobile centric business with ROI planning and measurements, revenues, costs and plenty of analytics.
What you need to understand, beside the technical part of your app?
First of all, it’s a revenue model. To learn more about app monetization please read “7 Ways to Create App that Makes Money”. Your revenue depends on your loyal users, so the real question is how to acquire them and nurture the loyalty.
The hardest challenge a lot of mobile entrepreneurs are going to face in 2014 is app discovery and user acquisition. With both App Store and Google Play approaching 1M applications, the gap between search requests and search results is getting bigger and bigger. Apple, for instance, did not make it any easier by showing 1 search result per page instead of 5.
With hundreds of new apps entering the market every day, the PR strategy has to really stand out from information noise. Viral elements have helped to acquire organic users for a high-quality app in 2012-2013 period. But only a limited number of viral apps can exist at the same time.
The other strategy is paid user acquisition. But with the rising cost per loyal user, the marketer needs to be sure that lifetime customer value is going to be higher that acquisition cost/per user.
Key things to consider for app marketing plan
- Total marketing budget
- AppStore and Google Play optimization
- Paid vs organic user acquisition
- Pre-launch activities
- Launch plan
- Analysis of user acquisition efficiency
You can easily find mobile design and development companies at catalogues like SourcingLine or BestWebDesignAgencies. At the same time, you have to think of your app marketing strategy and find qualified mobile marketing consultant.
The mobile entrepreneur of 2014 have to look at the app as a business, not just as a product. Ideally, the business team would include both developer and marketer roles.