Money doesn’t grow on trees, bushes, nor can it be found amongst the sea kelp. But money will eventually help you build that mind-blowing mobile app you already know everyone should have in their phone. In building that app, hiring a developer is one of your up and coming action items. Bad news is very few developers accept dental floss as suitable reimbursement. One of your financing choices is a gargantuan business loan and accompanying interest rate from a bank. Another may be a loan from the Bank of Mom and Dad. Yet one of the newest financing choices that has seen explosive growth in the past 5 years is crowdfunding. After all, taking on all the risk of your idea can be intimidating, and sharing the risk with others can be a way to minimize risk and blood pressure levels. If you’ve built a mobile app before, you may know all the anxiety that can go into it - and having other necks on the line with you can add some level of comfortability. Given the aforementioned concerns, the pros of crowdfunding have catapulted this strategy for entrepreneurs. Kickstarter for example has at the time of this writing 425 mobile apps available for crowd contribution, with ideas ranging from gaming to learning curriculum to business building apps. While we can’t speak to the 425 currently available for funding, in 2013 3 million people pledged $380 million to Kickstarter projects. Overall success rates of projects getting pledges on Kickstarter hovers around 40%, not to mention the added benefits of support from the community and exposure this kind of strategy creates. Kickstarter is a popular option and a solid fit for getting an app crowdfunded, but there are plenty of other options. Some sites are even specific to app development. A few examples include Appbackr, AppsFunder or AppStori, the last option being available for US residents only. Is crowdfunding right for your project? Here are a couple ways crowdfunding can support your mobile app. Early Visibility A challenging aspect in any business venture is letting the public know your product exists. Crowdfunding is a way to get your idea out in the world and begin generating buzz as a preliminary marketing measure. It doesn’t matter if your app is successfully funded, your crowdfund request page will receive at least some number of hits, creating more visibility than you would otherwise have with other traditional forms of funding. With crowdfunding your idea can start getting the attention it needs to be successful well before you’ve even written a line of code. Crowdfunding Confirms You Have a Great Idea Some of the beauty behind crowdfunding is that it’s quantifiable evidence that your idea is interesting and has broad consumer appeal. Your app hasn’t, in some cases, even been built yet but people are so intrigued by your vision that they are willing to fork over some plastic. Through the same vein, asking for crowdfunding also lets you know early on if your app has the potential to flop. If your idea isn’t successfully funded, the lack of interest can be important foreshadowing of the potential trouble your completed app could face. This is valuable feedback, alerting you if it’s time to rework your idea before you’ve spent time and money developing it. Whether you choose to crowdfund your entire app, part of it, or simply want proof you have a mind blowing idea, Kickstarter and the like are available. Artists, entrepreneurs and app innovators now have this savvy option to more easily get their idea built for users all over the world. Not sure where to start with crowdfunding, mobile app development, or life in general? Ping us here and we’ll see what we can do to help.

You have an idea for the next hottest app, but don’t want to sell your left hand to finance it. Depending on the type of app you want to build, there are ways to go about monetizing without irritating your users with ubiquitous advertising or hidden charges. Some apps are driven to make a profit, making it easy to figure out how to cash in. Other apps are just for fun or add utility, and therefore require a little more effort to seamlessly integrate financing opportunities. Here are some ideas to help you figure out what will work best for you. Pay for Download This is clearly the most straightforward way to make money on your app. Simply charge users to download your app. The beauty here is if you have users, you will be making some money the second they start using it. The downside is that mobile users are used to finding apps for free, and therefore seek out free apps. If your direct competitor offers a similar service and their app is free, guess which app your potential user is going for? Do take note however that if you do go the paid app route, Apple and Google take 30% of all revenue for paid apps or in-app purchases. Advertising While advertisements aren’t necessarily a favorite method of monetization, it is still a common strategy that can be combined with other initiatives to increase cash flow from apps. In March 2014, it was found that click-through rates on iOS mobile ads increased fivefold over last year and for Android, click through rates increased 3x over. This is good news for advertisers and even better news for mobile app developers, who can prove now more than ever that including a mobile ad is mutually beneficial to both the developer and the advertiser. Native ads make this even more helpful, where the ad follows the function of the UX, naturally integrating the ad with the app experience. Critics of this method argue that only the most popular, top apps make much money on advertising, however including ads along with other means of monetizing could be a good hybrid solution. In-App Purchase Freemium Service If charging for the app right away isn’t the solution you’re looking for, freemium provides a solid alternative choice. By allowing users to download the app for free, they are able to get to know the services you provide without the upfront investment. From there, having some of the core functionality unlocked introduces the user to the main purpose of the app while encouraging brand recognition. However locking premium features entices the user to take advantage of further options if they choose to. For example, many gaming apps use the freemium model, enhancing the users’ experience with small upgrades throughout the game like extra lives or new levels. Another example is Spotify, an internet radio service on the freemium model. While any song can be listened to when using the app on desktop, the mobile app can only play music on shuffle mode for the free version. A premium upgrade is required for access to any song, any time on mobile. The premium upgrade also removes all audio advertising from the listening experience. Paid Apps with Paid Features Another way to combine freemium and paid apps This is a hybrid of the freemium and one-time paid app model, charging the user for both the app download and additional premium features. This monetization method is not without criticism, with arguments that if the user must pay to download the app, the app should therefore be considered paid in full. However if done cleverly, this model can, and does, work well. One example is Flightradar24, a flight tracking app available for $3.99. Once downloaded, users can purchase upgraded features like information on arrivals and departures and custom alerts, with these features ranging in price from $1.99 - $4.99. While this seems expensive, this is in reality a great way for users to experience the benefits of the app, while not having to pay closer to $10.00 for features they may or may not use. Selling Data Developers have insight into user behavior. User behavior is solid gold for marketing teams, providing yet another way that developers can make money with their app. Excellent examples are lifestyle apps such as fitness counters or check in apps, giving real data on how people spend their time. Understanding where they go, what they do, and how they prefer to live their lives gives advertisers valuable information on what kind of products the public would like - and even how to best market it. To make an app profitable, developers need to understand their audience and how they can provide enough value and earn enough revenue. How will you monetize your mobile app?

I’ve said it once and I’ll say it again – EVERYONE is on their mobile. Over the past 2 years smartphone adoption has grown from 36% - 61%. Of those users, mobile apps dominate over three-quarters of phonetime. Sure, many kids are goofing with games but businesses have much to gain by entering the mobile app market. Seattle-based jewelry giant Blue Nile realized the importance of mobile commerce the first time the site made a $40,000 diamond sale via mobile device. “This is the future of shopping,” pointed out then CEO Diane Irvine. Many things will move the needle for your business. Today one of the most important is the mobile app – and here’s why.   More Sales Opportunities People are addicted to their phones. Standing in line, sitting on the bus, or waiting for change from the teller – these are all small pockets of time your customers are on their phones. While they could be checking former colleagues’ LinkedIn profiles, they should be checking out that shopping cart they put together on your app and place that order with you already. They could be browsing the newest and greatest you have to offer - but you need to make it easy for them with an app.   Simplicity Given the small screen necessity of big buttons and clean design, you can focus your audience on exactly what you want them to see. Not only that, but providing your clients with on demand access to your service is not only imperative, but gives them the easiest way to reach you better. Think of an app as a bookmark taking stable residence on a user’s phone screen. It’s familiar, always there, and easily accessible as a part of your customer’s everyday phone life. Now THAT’S simple.   Geo-targeting Knowing where your customers are can sound a little creepy. Even worse, knowing that your competition is already utilizing your customer’s location and sending them offers...while you sit idly by. Think of geo-targeting as helping your customer right where they are. A young couple is strolling by a movie theater and the fair lady receives a 10% off push notification to a movie showing starting in 30 minutes. They happen to be a 5 minute walk from the theater and decide to head on in. Thank you mobile app! Geo-targeted advertising is not only helpful for your customer, but can be profitable for you. Use the information everyone else already has - and capitalize on it.   Reward Your Customers Who doesn’t love earning rewards? Or getting free stuff? Providing a rewards program for your customers is easy via mobile app, and a fine way to encourage user engagement. Rewards programs can efficiently be tracked and redeemed via mobile app, while the instant gratification of this method makes for a fun and satisfying game your customers. Then you can be the fun company with a loyalty program that engages your customers and encourages them to interact with your brand.   Boost Team Productivity You want to be the boss who gives your team the right tools to do their jobs well. Mobile apps are a great way to simplify complicated programs to get your team the data they need quickly.  For example CRM mobile apps are a great way to assist sales teams while they are on the road closing deals. What could be more important to a sales professional than the ability to quickly find the information they need, without the complications some of the most robust CRM software programs can provide? Additionally sales tracking apps are a great way to manage deals while running around meeting clients. Mobile apps are a great way to make every trade show, convention, and off site meeting simple and well documented.   Brand Building Much of traditional marketing has died with oversized 90’s desktops, but the importance of boosting brand recognition will never change. The mobile app is a great place to do it. I wasn’t kidding about phone addiction - the average consumer spends 127 minutes a day on mobile apps. Now remember how your app could be a bookmark on their everyday mobile home screen? Yeah, that’s cementing your logo right into their everyday life - making your brand memorable, friendly and familiar. The added joy? It’s fun to get creative with your branding. For example, Volkswagon’s SmileDrive Android app allows users to share fun moments with their friends via virtual travelogue. They connect via Bluetooth (safety first fellas) and record their adventure whilst traversing the road. They can earn badges and points for passing other SmileDrive users, and at the end of the trip can share experiences with friends and family. All the while, Volkswagon gets the attention - and business.   Mobile apps are one of the best new ways to grow your business - hands down. Don’t know where to start? Just ask us here.