Currently, there are over a million applications in app stores and most of them are cross-platform with primary emphasis on android and iOS platforms. And don't forget the tablets as well!
As app developers increasingly find it difficult to cut through the mass clutter and get their apps noticed and hopefully downloaded, it is important to lay the road-map for potential success in the mobile app development space.
Here is some critical information, courtesy of app-promo.com that should provide viable insights on the inner-workings of the app development space.
- 59% of apps do not generate enough revenue to break-even on development costs
- 80% do not generate enough revenue to support a stand-alone business
- 68% of developers earned $5,000 or less with their most successful app
- 12% earned $50,000 or more in revenue and these were classified as "Top Earners"
- 11% had 500,000 or more downloads
- 63% had downloads of 50,000 or less for their most successful app
- "Top Earners" spend an average of 14% of their time on marketing
- "Top Earners" have nearly $30,000 as an average marketing budget
- 52% had $0 set aside for marketing despite 91% believing that marketing is essential
- 52% spend 5% or less of their time promoting their app
One can see from the "numbers" that the key to launching a successful app is marketing.
While the initial returns may only allow you to break-even initially, that changes eventually as the app becomes more popular, with more people downloading it, as a result of the marketing efforts.
Increased "brand awareness" is always key to ensuring a successful launch of any product or application.
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