As technology continues to advance at an unprecedented rate, more and more investors, entrepreneurs, and business owners are recognising the benefits that come hand in hand with buying and selling mobile apps, as well as other digital assets.
And, with many of us permanently attached to our smart phones and other digital devices and tablets, the digital world presents a whole host of opportunities when it comes to buying a successful app business.
More and more of us are consuming digital media on the move and in our everyday lives. This has inevitably resulted in a stark rise in the amount of businesses investing in mobile applications in order to reach out to their target market. And it’s working - there are now more successful mobile applications than ever before.
With this mind, it shouldn’t come as a surprise that this type of digital consumption also presents a great deal of opportunity for investors and entrepreneurs, especially when it comes to connecting and engaging with new, existing and potential customers, in all corners of the globe.
But if you’re still unsure where to start, we’ve created a helpful guide outlining what you need to know about buying an app business.
Have you got an App Business Model?
First and foremost, if you are considering buying an app business, it’s vital that you understand the core components of a mobile app business model. This level of information will help you increase your revenue from the offset.
From understanding how to generate download sales and maximise advertising opportunities through to optimising in app purchases and subscriptions, there’s a lot to consider.
However, once it’s set up and running, there’s very little you will need to do in terms of maintenance, providing you nail your App Business Model in the early stages and understand what makes a successful app.
Of course, that’s not to say that you won’t be able to add new and exciting features, rectify any bugs or adapt the mobile app to accommodate new IOS versions once you’ve purchased your app!
Understanding the mobile app industry
Buying and selling apps has continued to increase in popularity over recent years, mainly due to the fact that investors can build a successful business venture in the digital world, without having to build the mobile application from scratch.
And you don’t necessarily need to be in tune with the digital world to buy a successful mobile app business either. Many of the industry’s most successful business owners, entrepreneurs and investors, who are already familiar with the core components of a website business, simply utilise this knowledge and transform it into an app business.
Measuring mobile app usage
In order to measure the performance of a mobile app, many entrepreneurs and businesses use a tracking app, which can be easily accessed from Apple.
This will give you a good idea of how well the mobile app is performing in the digital world, allowing you to gain a first hand insight into the quality and quantity of the level of traffic using the app. But that’s not all…you can also measure and verify an apps performance by asking for access to App Store Analytics – this will allow you to gain a more in-depth understanding of how well the app is performing before you commit to buying it.
Many mobile app businesses also rely on examining retention rates and average session durations, in order to determine engagement levels, usage and traffic rates. These figures help to shed some light on how many people are still using the app and it’s potential to grow.
App Store Optimisation
App Store Optimisation is crucial when it comes to maximising exposure and engagement. And, just as SEO is important for websites, it’s equally important that businesses recognise the significant role SEO plays in generating interest for mobile applications.
The vast majority of mobile applications are downloaded by consumers through other digital platforms such as social media, app stores and paid advertisements.
However, unlike SEO for generic websites, APO is not all about focusing on keyword rankings. Instead, it’s important that the mobile app is visually appealing and responsive, as this is what will set the app apart from your competitors in an ever-crowded digital world.
So when it comes to optimising the aesthetic appeal and functionality of your app, think about creating an impactful app icon that will capture the attention of your target market. Differentiating yourself from your competitors is key to the success of your app, and should be a priority when it comes to buying and selling any mobile application.
here are also a number of keyword research tools that will allow you to gain an insight into suggested keywords to help you maximise visibility and traffic during the marketing process.
A market place that is continuing to grow
Buying and selling mobile apps has continued to increase in popularity as more and more of us carry out most of our daily tasks online. From browsing social media platforms and keeping tabs on your finances through to shopping and gaming, there really are a lot of opportunities to embrace in the mobile app industry.
And you don’t necessarily need to be an expert in mobile applications to tap into this ever-evolving market. This is because, if you are already business savvy or you’re looking to exercise your entrepreneurial flair, it is relatively easy to pinpoint and act upon potential opportunities. For example, when it comes to nurturing and growing your mobile app business, utilising your existing website resources is a great starting point.
With any new business there are risks however, with experts predicting that the mobile app industry looks set to continue to grow at a rapid pace, now is the perfect time to buy an app business.