It’s the oldest and most traditional business model in the book – you spend time and resources to build something, estimate the cost of the end product, and then you slap on a little extra and sell it.

Almost everyone knows the trend in mobile is towards free or freemium apps, but believe me that paid apps are not going away anytime soon. It’s just that to make a paid app work it needs to work on certain parameters. They are doable, but certainly not everyone’s cup of tea.

Introduction

How To Make The Paid Apps Work?

Bank On A Brand NameYour work becomes a lot easier if your app is associated with a popular brand name. It has been observed that people do not hesitate in purchasing apps backed by

brands with established credentials.

Have A Key DifferentiatorA paid app needs the right elements to make it work, like a

niche market or better features. Like in any other marketplace, a business model will only work if there is

enough differentiation in the product.

Price It RightPerform a market research and competition analysis

before you decide pricing of your app. So, to convince a customer to pay for an app, the developer needs to focus

on either outsmarting the competition or offering something so unique that is not available in the market.

Distribute EffectivelyDistributing an app is not really a big deal anymore. Mobile

industry leaders like Google and Apple have pretty much sorted out the entire online buying infrastructure for

developers to showcase their apps.

The Advantage of Paid Apps

There are a few things that work in favor of paid apps.

It’s easier for a paid app to become a chart topper with 3000-4000 downloads whereas for a free app to feature

as a top ranking app, it may need at least 70,000 to 100,000 downloads. In some ways the competition is

different when you are classified as a paid app.

The Emerging Paidmium ModelPaidmium is basically a paid app with further options for in-app purchases. It may sound like a tough nut to crack but it has the potential to generate good

revenue if used strategically. The strategy to be followed for a Paidmium model is similar to that of paid apps. If you can make your paid app click, you

may have found a success path for your Paidmium model too.

Paidmium model too. Keep your users engaged by maintaining a steady flow of new and interesting features and use a part of your sale proceeds to

market your app better. This way you can recover your development costs faster.

Conclusion

Now the question is – can you make money by launching an app which requires payment of an

upfront fee? The simple answer is – yes. However, you will need to market the app really

well, price it carefully and seek out a niche market. It’s not easy and it’s not for everyone,

but it is doable.

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Read The Detailed Article:Paid App Monetization Strategy

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