One of the biggest emerging markets is the mobile market. There is a plethora of ways a business can take advantage of increasing mobile use. Advertising is one of the main ways money is made through mobile devices. Creating free apps can be highly lucrative because of advertising. Even if you don’t sell anything, there is money to be made.
How Apps Pay
The market for apps is clearly exploding. People are increasingly using apps on their phones for an incredibly large variety of reasons. Usually however, people tend to stick to using free applications, which out-compete their similar but costly counterparts. How is this trend being sustained if the consumers aren't buying anything? This has been dealt with by mobile developers utilizing their apps for advertising space. By allowing ads to be located within an app, developers capitalize each time their app is used. Having apps which must be paid for ahead of time is another way of ascertaining returns, however these are much smaller in comparison to those had by apps with advertising in them. This is because advertisers are willing to spend more on apps than the public will. According to studies carried out by Cambridge University, on average, free apps are downloaded 10,000 times, in comparison to paid apps which are usually only downloaded around 100 times each. Knowing these statistics will allow any company to properly strategize their monetization if they are planning to release a new app.
Mobile Advertising
Mobile users are great targets for advertising because accessing the internet has become an increasingly mobile affair. This means that people are increasingly accessing the internet through their phones, rather than accessing the internet through a laptop or a personal computer. This trend is expected to continue as the use of smartphones and similar gadgets increases. Soon this type of usage of the internet will represent more than half the people using the internet. Advertising online has obvious benefits. There are also ways to target those who mainly access the online world through their phones. For example, certain companies make advertisements only viewable to those accessing the internet from a mobile phone. Using such a tactic allows businesses to target those people who don't necessarily access the internet frequently and do so from a hand-held device. It also helps companies interact with their clients better. An example of a technological advance which has augmented advertising efficiency through internet-capable phones is called the ‘QR code'. These are designed with mobile Blackberry phone users in mind and are made up of a unique black and white pattern of squares. By taking a picture of this unique image, clients can access advertisements and other information. The possibilities available for advertising are growing at a rapid rate, so keeping your business up-to-date will necessarily include knowledge of new internet-capable technologies.
