Analyzing iPhone App Marketing To refresh your memory, iPhone app marketing is simply the act of using any resources available to make people become interested in your product. There are various forms of online marketing which you can participate in which can help you increase the popularity of your app. Anyways, now you know what it is. Let’s talk about some things to think about in order to succeed with app marketing. Set Marketing Goals While succeeding with app marketing requires you to be somewhat creative, you also need to set some realistic expectations. After all, this is a business and the best way to determine if your business is making money is to set a goal and see if you reach it. If you don’t, then you know that you must take a different approach in your marketing campaign. Here are some things you should ask yourself during this phase of the game:
How much money is it costing me to develop my app? How much am I going to charge people to install my app? How much am I going to spend on marketing?
Once you crunch the numbers, you can then determine whether spending a lot of money on marketing will even be worth it. You don’t want to be the developer who spends thousands of dollars on building an app only to figure out there you can’t sell it.
Where Your Profits Come From Basically, there are four ways you are going to make money from your iPhone app: 1. Advertising: Have you ever used an app which contains advertising on it? Well, those apps are being paid to promote those ads. 2. Upgrades: Some apps offer a free service or game followed by offering a newer, better upgrades which costs money to install. 3. Free apps: Some apps offer free apps along with the purchase of an existing app.
4. Virtual currency: Poker is a perfect example. IPhone users have the option of purchasing more “virtual currency” if they run out of poker chips at the tables. What are the different ways you can generate revenue? Experts agree that free apps are where most of the potential profits lie. It’s much easier to convert a non-paying consumer into a paying one than simply trying to make them purchase something right off the bat. Once they sense that your app is something they like, a sense of trust is built and they will be more likely to upgrade to a premium service.
Setting a Budget You need a budget. This is the first step to determining exactly how much you are going to spend on your marketing campaign. As a basic rule of thumb, try not to spend more than 30% of your total budget on the developmental stages of your app. This gives you some room to work with in terms of marketing it. From there, try to track every dollar you invest in your marketing campaign and determine whether or not you’ll even make any money with your current game plan.