Generating a stream of passive income is an incentive for today’s app developers. Creating such an app requires a good strategy and a few key features.
Putting the heavy lifting in early then reaping the benefits over the long term is a great way to see real benefits from your app.
Follow these useful tips to make passive income from your amazing app idea.
Niche Your App
Before you ever start planning your app’s features you have to figure out who it’s for and how they’ll use it. If you want to get any income from your app it has to fulfill a need and do it in a useful way.
Depending on your idea this could be a game app, a productivity tool or an innovative kind of social media app. The important thing is to find some way to make it stand out from the rest apps currently on the market.
There are almost four million apps in the Google Play Store alone. If you just make a clone of an existing app without making valuable improvements it’s unlikely you’ll gain much traction.
User Interface and Experience
It doesn’t matter how great your app idea is if the execution is clunky. Consumers expect apps to look beautiful, work well and hold their hands while doing it.
Your app cannot have a learning curve and it must be visually appealing. Modern app design is as much about pleasing the eye as it is about functionality.
Think about some of your favorite apps and what features and design elements make that app fun and simple to use.
By the same token, your app has to work well. You have to find that perfect mix of appearance, experience, and functionality.
How to Make Passive Income
So you know what your app will do and how it will do it, how do you monetize it? There are four key ways to monetize an app.
There are different pros and cons for each of these methods. Ads work well on just about any kind of app but don’t have a very high return.
Freemium apps are similar to old-school shareware software. You download a free version of a paid app that has limited features. If potential customers like the app they’re more likely to pay to get all the features of the full app.
Subscription services work well for apps that serve as a gateway to content like books, movies, music or comics. Subscription apps generally require constant upkeep and the addition of new content. It’s not the best model to make passive income with.
Pay-to-win is specific to game apps. A player has full access to a game but can improve their skills or speed up an action using microtransactions. This can be a very lucrative monetization method.
There’s No Such Thing as a Free Lunch
Passive income generation is all about putting in the hard work early on to reap the benefits over the long haul. Getting your app started and building a solid user-base will take discipline and hard work.
If you have a dynamite idea for an app and need a little help with the technical side of things, we can help with our easy app development process.