OMG£££ – Magnetising and Monetising Apps

Posted on: Saturday 14 July 2012 5:03pm

Anna Rafferty, MD, Penguin Digital – Presentation

Nicholas Lovell, Founder GamesBrief – Presentation

Mark Sorrell – Presentation

Jason Krogh’s presentation as a YouTube Screencast

An excellent outline by Stuart Dredge in the Guardian – with some of the panelists weighing in with comments at the end – the debate continues…

CMC Blog by Tom Webb.

Making, creating and purchasing apps is a 21st century phenomenon, but while they prove to be a huge success, industry experts have a few words of warning.

Penguin, one of the most well known and respected distributors of printed literature have now found their way into making the UK’s favourite book related apps such as the excellent series of ‘Me Books’. The greatest lesson learned from this move is that unlike books, once created, apps need a lot of looking after. There is a constant need to make people interested and excited about the purchase, so do not rush into making them, instead, spend a lot of time making it appropriate and ensuring it makes sense for your own particular strategy.

Statistics from Games Brief highlight the financial success of apps. With $14 as the average single transaction for an app, and the most popular free apps making an average of $30 million each, it’s clear that apps are a lucrative market. Free apps are an interesting example of starting a business. If you are successful in making something that people love, then there are no boundaries to what the public will end up paying. Recently $10,000 was spent on one single free app. Embrace the free aspect of apps as a starting point, then move up the price curve as it becomes successful. Remember, you are not selling products anymore, you are providing a service.

Disney, with a long-standing in the forefront of technology and innovation, insist that ratings on itunes is the be all and end all of the success of particular apps. As a key driver of sales, quality is key so it is vital that the maker listens to audiences at all times. For a great app, it has to be fun, bite-sized, social, immersive and personal. However, a great app is never finished, it’s a live service. Disney suggest make it for touch, have strong characters and strong stories at the heart of the app and beware of marketing and TV executives with apparent ‘great ideas’.

zinc Roe and Somethin’ Else, creators of apps, warn of the great amount of numbers that one faces in the app business. It is important to learn how to deal with them and remembering what it is that you hope for when embarking on app creation. Word of mouth is hugely important and valuable as you are really building an audience, not an app. Consequently it is important that you think about services and think about the long game and try not to rely too much on behavioural economics. Rely on fun, games, create a story but do not impose a narrative on them.

Event Reports app business Disney free money Penguin