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Great NEW App Idea... No Idea How To Profit?

Discussion in 'Making Money' started by Calum Jones, Sep 8, 2014.

  1. Calum Jones

    Calum Jones Regular Member

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    Hi,

    So I have come up with a really good app idea. It's new and hasn't been done before (!)... However I'm struggling to understand how I can make cash from it. Nobody searches terms related to the app I'm making because it's not been thought of before but it would DEFINITELY appeal to a large audience and get lots of downloads as I'm targeting a desperate niche and there are physical products related.

    I can pay per install but considering my options for monetizing that doesn't seem reasonable! For example, I pay $0.50 for an install, then receive $0.05 back on average maybe for my own in-app ads, considering many people won't click the ads at all. Second option is to make the app paid, but I heard the rate you pay for PPI has to be above the app cost! So then again it's a guaranteed loss per install.

    Plus I'd prefer the app to be free if possible.

    What's the right way to go about monetizing this app to actually make a profit?
     
  2. CeceXXZ

    CeceXXZ Junior Member

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    Is it an iOS or Android app?

    You can invest a little bit of money to advertise it, and then let the thing rolling... People will tell friends about it and so on.

    Let users know about your app. After that, make profit. Since you aren't telling us what's the app is about (but it's logical) we can't suggest you a specific strategy. You may be able to make some profit with in-app purchases and advertisements once enough users will use it.
     
    Last edited: Sep 8, 2014
  3. Calum Jones

    Calum Jones Regular Member

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    I'm having it developed for both platforms.
     
  4. Redeema

    Redeema Junior Member

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    Are you able to make it free at first and monetize it with ads and then later make it a paid app? If not you can make it a paid app and simply market it yourself. You could use reddit, twitter, etc. If the app is really that good people will use it and share it with their friends.
     
  5. nikiobicata

    nikiobicata Regular Member

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    No offends Op but if i have a buck for every time when someone say that i will have a ton of bucks :)
    Try to copy the strategy from the best free apps in both stores. Search and see what strategy they use.

    p.s Just in case try to search again for something similar in google play store and i'm sure you will find "your" idea already there

    Cheers
     
  6. back2basics

    back2basics Jr. VIP Jr. VIP Premium Member

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    I would say get it reviewed by people who review apps on websites, youtube. Maybe try targeted ads on facebook, try to convey it's free on whatever appstore in your ads so people who may not click may still download it later and actually save you money. Would also build a website and target who you think would most likely benefit and want to download it, and SEO for that. They don't actually have to be searching for terms related to what your app is because it doesn't exist. It doesn't mean you can't bring in the best demo for it.

    You'd also be surprised how many people click ads when the audience wants what they're displaying. You just need the downloads, and if the app is good and helpful just the initial push might get it popular enough to not have to do much more. Going to take a bit of luck too, if you have to literally buy every install of course you wouldn't profit. Your goal should be making it go viral so it keeps chugging along on its own.
     
  7. Calum Jones

    Calum Jones Regular Member

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    It's definitely new. The only app even REMOTELY similar is an e-book. There are physical products offering similar functionality but no apps I've searched many terms and related keywords.
     
  8. Calum Jones

    Calum Jones Regular Member

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    Hi,

    Do you mean run PPI ads on FB telling them they can get it free from the Play / App Store? Seems like a good strategy. The niche it caters to is quite competitive I think but there are quite a few forums... The physical products related to my app have about 5,000 monthly searches. There is a 2,900 a month term MAYBE I'll be able to rank my Google Play page on the SERPs for this KW despite other sites having high DA as Google Play will have tonnes of authority of its own?! I hadn't considered the Google SERPs! :D
     
    Last edited: Sep 8, 2014