The Mobile Learning Lab Presents: Make it Rain! (How to Monetize an App)
Mobile Learning Lab: Make it Rain! How to Monetize Your App
Another successful Mobile Learning Lab was held at the Spoke Club last night with Mobile Veteran Murray McKercher and app monetization expert Curtis Belchoir in the house.
Murray kicked us off by giving us a little walk down memory lane and educating us on the history of mobile development – even bringing his collection of mobile phones dating back to the early 90s for the crowd to dust off. Curtis followed up Murray’s history lesson with some sharp insight and tips on how to make it rain. See below for the summary.
The number of apps in the Apple Store has grown from 800 in July 2008 to 1.3 million in September 2014. However, most apps go unloved due to flawed UI/UX, stiff competition or a lack of customer insight. To enhance your chances of success in monetizing an app ask yourself some critical questions:
- What are you monetizing
- Who is your audience
- What are your business goals
- What is your timetable
Answering these questions will then help you choose from one of six primary monetization models:
- Paid Apps (Ex: Minecraft)
- In-App Advertising
- Freemium (Gated Features) Temple Run
- In-App Purchases (Candy Crush)
- Paywalls (Pandora)
- Sponsorship (Incentivized Advertising)
While this summary only touches on the highlights check out Curtis’ full presentation at www.mobilelearninglab.com
“The difficulty lies not so much in developing new ideas as in escaping the old ones.” – John Maynard Keynes
On behalf of the Mobile Learning Lab, we’d like to thank all those who attended this event, and we look forward to seeing you again at our next event!