Week 8 Assignment 4

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University of the Cumberlands *

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202

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Information Systems

Date

Nov 24, 2024

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docx

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Uploaded by patrickkips001

1 Making Money from Apps: Strategies and Considerations Anwar Hussain Shaik University of the Cumberland Info Tech & Mobile Application (ITS-537-B02) Professor James B. Price, PhD August 12, 2023

2 Making Money from Apps: Strategies and Considerations Making money from apps is a challenging endeavor due to the saturated market and app stores taking a significant portion of revenue. While it's difficult, it's certainly possible with the right approach ( Chiauzzi & Newell, 2019) . To succeed, developers need to carefully consider their monetization strategy, target audience, and platform choice. Let's delve into these aspects. Monetization Strategies: There are several ways to generate revenue from apps: Paid Apps: Charging users upfront for app access. This approach requires a compelling value proposition to convince users to pay. Freemium: Offering a free version with limited features and enticing users to upgrade to a premium version with advanced functionalities. In-App Purchases (IAPs): Providing free access to the app and offering additional content, features, or virtual goods for purchase within the app. Subscription Model: Charging users a recurring fee to access premium content or ongoing services ( Chiauzzi & Newell, 2019) . This can provide a steady stream of revenue. Ad-Based Revenue: Offering the app for free and generating income through advertisements displayed within the app. Sponsorship and Partnerships: Collaborating with brands or organizations for sponsored content or partnerships. Donations: Allowing users to voluntarily contribute funds to support the app's development. Getting Users to Pay: To encourage users to pay for your app, you need to focus on the following: Value Proposition: Clearly communicate the unique benefits and features of your app that justify its cost. Free Trials: Provide a taste of premium features through free trials, enticing users to upgrade for the complete experience ( Mhaidli et al., 2019) . Limited-Time Offers: Create urgency by offering discounts or exclusive content for a limited time. User

3 Engagement: Keep users engaged with regular updates, new features, and responsive customer support. Target Audience and Platform Choice: Choosing the right platform (Android or iOS) depends on your target audience and development resources ( Calder, 2015) . Audience: If your target audience primarily uses one platform, prioritize that platform. Research market share and user demographics to make an informed decision. Monetization Differences: iOS users tend to spend more on apps and in-app purchases, which can be advantageous for revenue generation. Development Resources: Consider the development skills available in your team. iOS development often requires specific expertise in Swift, while Android development uses Java or Kotlin ( Calder, 2015) . Recommendations for Organizations: Considering your current industry, audience, and resources, you can decide on the suitable platform: Android: Choose Android if your target audience is diverse and includes a wide range of devices. Android's larger global market share and customization options can be beneficial. iOS: Opt for iOS if your audience is more affluent and concentrated in regions where iOS devices are popular. iOS users are often more willing to pay for apps and in-app purchases. Conclusion: Earning money from apps requires careful planning and execution. Developers must choose effective monetization strategies, entice users to pay through value and engagement, and make informed platform choices based on their audience and resources. Success in this competitive landscape demands ongoing innovation and responsiveness to user needs.

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4 References Calder, N. (2015). Apps: appropriate, applicable, and appealing?. Digital games and mathematics learning: Potential, promises and pitfalls , 233-250. Mhaidli, A. H., Zou, Y., & Schaub, F. (2019). " We Can't Live Without {Them!}" App Developers' Adoption of Ad Networks and Their Considerations of Consumer Risks. In Fifteenth Symposium on Usable Privacy and Security (SOUPS 2019) (pp. 225-244). Chiauzzi, E., & Newell, A. (2019). Mental health apps in psychiatric treatment: a patient perspective on real world technology usage. JMIR mental health , 6 (4), e12292.

Week 8 Assignment 4

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