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This 5 page Reader was uploaded by Rebecca Hart on Tuesday October 6, 2015. The Reader belongs to a course at a university taught by a professor in Fall. Since its upload, it has received 9 views.
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Date Created: 10/06/15
Coe Businesses create economic value for O O O O O O Stockholders Lending institutions Investors Owners of the business Surrounding community Government 6 revenue models for apps 0 00000 fee subscription ad support opt out of ads in app purchase lite to full in app purchase pay to pay get better stuff white labeling and licensing app revenue model exceptions O O 0 might not have a revenue model social entrepreneurship apps solve important problem Fee subscription model 0 O 0 Charge before download Charge monthly fee First viable revenue model 0 Works well for well known value added apps 092 32015 Reference productivity health Dating apps NOT for photo sharing social networking communications games 90 free apps with ad support I Ad support model 0 App is free but charge advertisers for money 0 Two major variations I Random I Common in games weather news or apps with huge numbers of diverse users U Pop up ribbons native U Advertisers pay 0 Monthly at rate 0 Pay per click impression I Sell through conversion I Targeted U Build an app with a specific focus U Pay for 0 Premium advertising space 0 Appear higher in search lists 0 Advertise specials I Opt out of ads model 0 Users don t like advertisements I Pay to not see ads I Ignore the ads I Stop using the app 0 Doesn t work well with targeted ad support models because these advertisers don t want ad blocking 0 In App Purchase Lite to Full Model 0 Freemium models I Basically you get free and upgrade to premium if you want 0 Free version must be useful and compelling enough to get users to buy full version 0 In App Purchase Pay to Play Get Better Stuff Model 0 Almost all games 0 Extremely lucrative competitive risky market 0 White Labeling and Licensing 0 Really important business concept along with app I Make your product I License it to other organizations I Allow them to brand it I Allow them to provide it to customers as their own product 0 Customers are other businesses 0 Still build what customers want otherwise businesses won t license yourapp I Try to find a need that businesses have but that s too eXpensive for them to develop on their own so you build it and license it to them to make money 0 Critical Success Factor CSF 0 Some dimension on which your business must deliver value in order to be successful 0 PainPleasure point I Lust dating Gluttony shopping Greed budgetingfinancial Sloth productivity Wrath debatepolitics Envy shopping Pride personal brand instagram type ads D If you cant talk about the need problem or opportunity your app addresses is probably not a good idea for an app No learning curve Apps don t come with a manual Intuitive interfaces Learn on the y Not all smart phone owners are smart Stick with widely used icons and colors and gestures Don t invent new user interfaces Don t be colorist Singularity of focus App usage needs to be speedy Mobile different from web Address a well defined issue for a very specific group of users then expand features functionality to larger user groups Frequency and duration The more frequent and shorter duration the better Great apps are used often Keep current users coming back to the app Think globally A lot of countries are growing in terms of smartphone adoption So think about your options for building an app for different countries 0 Great freebetter paid I Revenue models Users love to try apps for free I Figure out how to get a free version of your app in the market I Build loyalty following brand I Make money on upgradesfull version 0 Gamification I Common gaming elements U Achievementsbadgestrophy cases U Levels U Leaderboards U Progress bars U Virtual currency 0 Gifting U Challenges and quests I Even if its not a game your app can be fun to use youll attract users With a high retention rate and frequency rate 0 Native functionality I Devices include and can do so much more than we think they can aka iphones and tablets3 U Contacts address book messaging camera microphonespeaker location based service light accelerometer gyroscope O Non Phone Apps I Best target device for app I Don t instantly think smartphone
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