5,000 applications vs 1. Which generates more revenue?

TedNashpost

 

Let’s start from the beginning.

When I first started creating applications there were only about 80,000 apps out there competing against each other.

There’s now over 1,000,000 apps and it’s become seriously difficult to generate awareness for applications; even truly brilliant ones.

It was this understanding which led us to an idea;

We believe it’s easier to make 5,000 apps which make $1 a day as opposed to 1 application that makes $5,000 per day.

We started with two applications when we as founders were a lot younger and at the time we enjoyed some modest success with a couple of entertainment based applications which were pushed out as a test.

The revenue that we generated was extraordinary and our applications continued to provide what seemed to us as an inflated level of income.

They were all relatively slow to pick up speed, but we soon found some marketing tactics which gave us a good return on investment.

The first weekend, we made £5,000…

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Will the future of marketing success lie in Growth Hacking?

If you’re at all involved in the world of digital marketing you’ll no doubt have heard the term ‘growth hacking’ thrown around a little. It’s come to prominence since technologies like smartphones found their way into nearly every pocket in the country and marketing opportunities suddenly exploded. Things like mobile app marketing (interesting piece here on the benefits of push notifications) and people having constant access to emails and social media platforms have resulted in growth marketing boom. But what is growth hacking?

Defining Growth Hacking.

Growth hacking basically does away with traditional marketing methods and focuses primarily on the empirical gathering of relevant users – that is, users who have an interest, sign up and stick around for the long term. I say “empirical” because with growth hacking it really is all about the numbers and,  “How quickly can we grow this business but keep a relevant and interactive user base?”.  Whereas more traditional marketing methods would involve paid advertisements and ‘getting the word out’, growth hacking uses measurable tools such as pay per click campaigns, blogs, emails and APIs which allow it to gain a statistical overview and insight into how a business should evolve its strategy. I guess you could think of growth hacking as more of a mindset than method.

How can growth hacking affect marketing?

Traditional marketing, while obviously effective once upon a time, can now seem rigid and limiting in certain circles.  There’s no doubt that paid adverts in widespread publications are a great way to get the word out about your business.  A press release can offer up important information about your business and help you bring in new leads, clients or visitors, but growth marketing really turns this on its head and becomes a lot more fluid in how it connects with audiences.  The real trick behind growth hacking is to offer your target audience something they want. A perfect example would be Instagram. Did you know that instagram actually started out as a location check-in app (similar to that of FourSquare)?  The reason it become a photo sharing community was because it registered that that was what its users wanted – so it changed its entire strategy and became one of the most utilised social media platforms in the world. Instagram changed their business based purely on customer feedback, statistics and usage patterns.  In other words, they moulded themselves to suit the needs of the masses – after all, people create marketplaces, not business. Traditional marketing may disagree.

How do get started with growth hacking

Remember, growth hacking is more a mindset than a specific set of marketing tools and methods, but there are some things you can do to help you get there.  Firstly, remember that growth hacking is internal while traditional marketing is external.  It’s a lot cheaper than traditional marketing and relies purely on facts, figures and numbers rather than status and reputation.  Instead of building your brand through spending and hoping like so many other businesses before you, consider targeting a particular user base through social media, or by putting a measurable email campaign together (MailChimp is a marvellous tool) and work at getting those people on board by offering them something valuable, unique and relevant. ‘Growth Hacking’ sounds negative, but it’s really just a more effective way of finding a way to engage with people, something which has perhaps been lost in various parts of the more traditional business communities today…

Growth Hacking Notes

Entrepreneurs, marketers and developers all work hard to create products they are naturally very passionate about, but from my experience meeting people all over the world in business, there is one problem in particular that has synergy between these types of people. Early stage validation.

Validation is something I believe many people fail to do. It’s a sad fact that many businesses are failing not because they are badly planned or a recipe for failure, but rather they don’t build a foundation that will enable them to succeed.

I genuinely believe whilst there has never been an easier time to start a business, there’s never been a more difficult time to grow one.

Based on those thoughts, through this article I wanted to highlight the techniques I have used to validate concepts I have been involved with over my career. These techniques are generally thought of as ‘growth hacking’.

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HOW TO: Make your app a success…

Being close to both indie developers and corporations who are active in the mobile space, I come across many varied and interesting questions. If you have a question similar to the below, then read on – I might be able to offer you some advice;

“Mobile ad networks seem to be pretty fragmented. What are the top five most effective ad networks for iOS and Android to drive app downloads and/or installs in the US?”

“What is the best ad network for advertising iOS apps and generating downloads cost-effectively?”

“What are the various ad platforms (avenues) to drive app downloads?”

Due to the very clear problems that developers face with app discoverability, there are a number of entrepreneurs and companies trying to solve these issues, and to be honest it’s a bit of a jungle out there in the race to give developers of all sizes a platform to gain awareness and traction for the products they work so hard to create.

I wanted to write this post to give companies of all sizes, as well as individuals a clear understanding of the platforms that are available and more importantly, what they should expect from them.

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The Top Mobile Performers

Everyones talking about applications.

The market is booming.

I wanted to write a brief synopsis on the App Store’s top performers of late.

Who are they? Let’s name a few. To start with, there’s Supercell, a Finnish start-up company that gave us two chart-topping games, Hay Day and Clash of Clans. The top grossing game, Clash of Clans, outperformed its competitors in the strategy games department. And its opponents, so to speak, were not exactly all amateurs. What was the game plan?

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Understanding Ad Types

Video, banner and interstitial ads are display marketing strategies which are all intended to persuade users to take action be it in the form of a sale or a request for more information. Marketing objectives have a lot to do with the selection of which type of ad to employ. But all types must be carefully crafted so as not to be ruled out as irrelevant by the target audience. It also helps to align your online advertising strategies toward the direction of your targeted visitor’s eyeballs.

In the language of Internet marketing, conversion translates to the action initiated by a visitor’s interaction with the ad in question. Online ads may come in the form of video, banner or interstitial presentations of a product, service or offer. They may be subtle or direct requests aimed at target audiences who are persuaded to convert into buyers or visitors. Conversion success is relative among content creators, marketers and advertisers.

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My Most Successful Failure

As with everything I do, there’s always an element of risk attached. That risk comes in many forms; financial, emotional and also in the form of sacrificed pride.

I genuinely believe that every business or product I create has the potential to become the next big thing and perhaps it’s the adrenaline that comes with it which continues to fuel my drive for an entrepreneurial lifestyle.

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I <3 surprises and public speaking

As regular readers will know, I usually write about the three things I like to think I have some expertise in; mobile, social media and some weird s^%!…

Recently though, I have spoken at a number of different venues in a relatively short period of time so I wanted to tailor this post to highlight these experiences.

I absolutely love meeting people from all over the world because it gives me the opportunity to understand, and listen to so many different perspectives on a variety of topics that are of interest to me.

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The Future Of News Is ^%!@

Burning ImageI recently resigned from a company which is part of the second-largest media empire in the world. I think I am now in a good position to tell you about the future of news.

Here’s the deal;

Nice to meet you, Rupert.

Working in publishing appears to be a very hostile environment, especially as data and logic has created a worldwide acceptance that print circulation is naturally declining. Every single news publisher (and I speak for everyone who is in publishing) has a ticking time bomb.

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Making a HUGE salary…aged 12.

Kids with Cash

My career started at 12, I learnt a number of strange things.

It is 10 years ago next month my career started and I wanted to share with you one of the tactics I used to earn a living when I was in my early teens.

This is what I did ten years ago, I see no reason why this wouldn’t still work today…this could probably be replicated now to make you a lot of money.

I started with the thought; is it harder to create one website that generates $5,000 per day, or is it more difficult to create 5,000 businesses that create $1 each, per day?

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