Key components of a successful mobile product

I have spent ages wondering why some mobile products enjoy great popularity, whereas the others sink into oblivion. I will spare you of my elaborate theories – in the end, what we care about is a fat margin, even if an app is initially free of charge. Clearly, therefore a successful product is a money-making product. Mind you, Google Glass failed. Apple Watch flopped. What have these companies overlooked that hindered even their products to conquer the market? More important, perhaps, what is necessary to make your product successful?

After having analysed dozens of popular apps like Candy Crash, Angry Birds, Facebook Messenger, Uber, Apple Music, Snapchat and many others, I can conclude that their phenomenal appeal is due to simplicity and purposefulness of the ideas.

Mobile product idea

New York Times  reports that Uber is valued at around $50 billion despite facing a tough competition from BlaBlaCar, and Lyft. The investors carry on generously pumping money into the company, which ultimately proves that Mr Kalanick, Uber’s founder, had a winning concept for the project. There have already been made numerous attempts to replicate Uber – Easy Taxi,  mytaxi, taxipixi, etc. that are also in demand around the world. Thus, it is possible to build a profitable app by tweaking the existing product, although a unique idea can understandably bring better results. This is important not to mismatch the initial business idea and the relevant app trying to create the successful mobile products.

Related: Mobile trends in 2016: peering into the future

Hype around the idea

You need to devote special attention to marketing your app or otherwise, it will struggle to reach its customer. Apple tend to use this trick – by announcing the advent of a product, they tease the users filling them with anticipation as if they were children that can hardly wait for Christmas to come. The approach is one of the basements of the needful knowledge how to make a mobile product.

Considering how mesmerizing Jobs’ presentations were, may I suggest you learn from his strategy? Steve Jobs seldom described the technicalities of the product because users don’t bother themselves with such information. What they want to know is how they will benefit from the product – the message your advertising campaign must convey. Say MileCatcher, a free mileage tracker, clearly emphasizes the positive effects of the app use. It reduces your fuel consumption and reduces the likelihood of danger on the roads.

Related: Mobile app: how to increase sales in ecommerece

Realisation

As you don’t want to overstretch yourself financially, you have to carefully calculate the cost. According to CB Insights, 29% of startups fail because they run out of money. For that reason, it is necessary to have the right team of trustworthy and reliable developers who clearly understand what is a successful mobile product.

Related: Setting up and managing a mobile project at Indeema

App monetization

Does a freemium model work? How can you monetize on a free app? What are the ways of boosting sales of a paid app or service?

Dropbox exemplifies the success of the freemium model. When you subscribe, you get a 2GB of free storage. If you need more space, you can get it at 9.99$ per month, which seems a fair deal. Alas, the users are reluctant to pay even if there are obvious advantages of the premium account.

It will be to your advantage to analyse the market and distinctly understand your competition irrespective of the app.

In a free app, you can make money out of advertising and offering additional features and upgrades at an extra charge.

On the surface, a paid app easily generates profits. However, skeptical and wary users are often unwilling to pay for the product until they trial it. You need to set a price that will not deter the users. You can charge one price and later reduce it to see if the sales go up.

To recap, a successful project is a clever idea that can be monetized on through a clear marketing campaign.

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