I often get asked…
“Hooman, I have an App idea… how much money can I make with it?”
And often reply with “As much as you are willing to make with it!”
Let me explain…
The amount of money you can make with an App depends on many factors but the most important one is how far you are willing to take your App in terms of the value it creates, number of users and it's quality.
You see, the money you make with your App depends on how many users does it have and how big of a problem you solve for the users. So simply put:
The bigger the problem App solves + the more users it has = the more money it makes
Now let me give you a few examples.
Let's say that your App solves a problem for parents.
Now if the problem you solve is big enough for parents to a level that they value it at around $10 per month then here's how the math is going to look like:
If you get 100 free new users per day. (Not a big number in the App market)
Then if you can get 10% of them to upgrade to a $10/month In-App Purchase offer.
(An In-App Purchase offer is an upgrade people can pay for inside your App to access more – non free – features)
Then you are simply adding $100 each day to your monthly revenue.
After 3 months you App will be generating $10,000 per month in recurring revenue!
(Some users might cancel their subscription but if your App does a good job at solving the problem then most are going to stay for at least 3 months)
Looking at the math, you can see that the sky is the limit!
You can add more money making strategies to the same App, upgrade your users to even more expensive In-Ap purchase features, etc.
(There are over 6 strategies to make money with your App at the same time!)
So “how much can I make with an App?” is the wrong question…
The right questions to ask are:
How much do I want to make with my App per month as my goal?
How can I reach that goal?
If you are interested in seeing how I go about building 6 and 7 figure Apps without any technicals skills in days then…
Where I explain the exact steps and strategies I use to turn my App ideas into profitable and growing Apps in no-time and zero technical and programming skills.
If you are serious about your success with Apps and think that you've got what it takes to become successful it the exciting and super profitable world of Apps then make sure to watch the case study now as I will reveal some powerful secrets you can use to get there!
Hope you enjoyed this post. 😉