Your mind is overflowing with an awesome app idea, and you can’t wait to put it into action. You also want to get a great return on investment from all your time and effort.
However, creating a profitable app idea isn’t always easy.
And with the internet consisting of the worldwide market, you’re faced with a lot of competition.
But don’t worry!
Keep reading to discover five aspects of a profitable app idea and learn how to set your efforts up to succeed.
1. There is a Strong Market Need or Demand for it
One of the main reasons why ideas fail is because there is not enough market need.
And while making an app for fun isn’t a bad thing, if you want it to thrive and become a profitable app idea, there needs to be demand.
For example, some consumers want to learn a second language, but don’t have the time to incorporate traditional classes into their schedule.
They wish they could learn it at their own pace.
They search the internet and find out that someone has come up with a language learning app idea that could instantly fulfill their need.
And so the app is downloaded.
In the same way, discover who needs your app and think about the reasons why they need it.
And if your app doesn’t have a strong market need, adjust it so that it does.
For example, if you run a small business then you could offer extra coupons and sales that can only be accessed through your app.
2. It Stands Out
A profitable app idea is one that stands out and is unique.
Standing out doesn’t necessarily mean you have to change your idea into something completely different.
Rather, it simply means that your app is extra awesome at fulfilling the consumer’s market need.
Going back to the previous example of a language learning app idea, the consumer will be faced with a variety of choices.
How will they decide which app to download? After all, every app says it will fulfill their need.
They will choose the app that stands out most and is unique.
For example, one app may have more features, a more user-friendly design, positive reviews, etc.
Consider your potential competitors and strive to stand out among them.
Make your app the one people would choose to download.
3. You Already Have an Existing Platform
Having a growing or existing platform is super helpful even on its own.
A business, blog, or social media account can help you reach more potential customers because you already have their attention.
In the same way, having a platform can also help you in user acquisition which could in-turn lead to making a profitable app idea.
The larger your platform, the more people you can share your app with.
And the more people that know about it, the more people that could click download.
If you don’t already have a platform, don’t worry!
There are other highly targeted, easily accessible, and cost effective options out there when it comes to marketing your app.
4. You Have a Plan
Just as you would need a strategy to make a profitable business, forming a business plan is very important for making a profitable app idea.
Consider keeping a notebook to organize your thoughts, determine how you can best stand out among competitors, etc.
Also, analyze your direct competition.
How are they monetizing their app ideas?
Up front payment to download and use the app, in app purchases, subscriptions, free vs. ad-free premium version – do your homework to see what the competition is doing.
Market research upfront can go a long way in setting your plan in the right direction!
5. You’re Open to Advice and Constructive Feedback
If you’re new to app making, then gaining insight and tips from people more experienced than you can be a big help.
This way, you won’t have to worry about getting stuck if there’s something you’re confused about or need help with.
Being open to their advice, constructive feedback, and suggestions as to how to improve your app idea is imperative.
Speaking of awesome app advice—check out this article for tips from some of the best app developers out there!
Moving Forward With Your Profitable App Idea
Making a profitable app idea is not an impossible task.
By considering the above qualities and incorporating them into your app idea and game plan, you’re setting your efforts up to succeed.
What do you think about profitable app ideas?
Feel free to share your thoughts in the comments below!
Do you have an amazing app idea that you’d like to develop?
Contact us to learn more and get started today!