How to Make Money from Your Mobile App

You wake up one day with an idea of a mobile application that could get reach millions of users. Before you contact the best mobile apps design company in Kenya, you must face the big question. Is the investment worth it? How will you make money out of it?

You have two major options; develop a paid app or a free app. You earn from each complete download of a paid app in addition to other paid features or uses. However, by charging for a download, you limit the number of users. Only the people who really need the app will download it.

The alternative is to develop a free app but how do you earn from it. Let us look at some of the ways you make money from the app.

1. In-app purchases

If you are thinking about a mobile app, chances are that you are already selling some products or services on a business website. With the current trends in digital technology, most of your target clients are using apps to buy from your competitors. Encourage the clients to buy products directly from the app.

If you include the right features on the app, clients will prefer the in-app purchases to visiting your store or website. You may need payment integration services to offer different payments methods. For the Kenyan market, Mpesa integration and other mobile money networks are critical for in-app purchases.

Think beyond the consumable products or services. You can still earn from in-app purchases even if you do not have physical products or services to sell. Think about additional functions or features that the users may need after downloading your app. Charge a subscription fee that will unlock those functions.

You can charge a one-time subscription that gives users access to the functions for as long as the app is installed. Alternatively, the subscription can unlock the features for a specific period. Users have to renew their subscription after the period elapses.

2. In-app ads

Most app developers are familiar with this money making strategy. If you have used a free app before, chances are that you had to keep clicking and closing pop-up ads. The strategy started with blogs and websites where you get paid for each click on an ad displayed. Affiliate marketing has extended to mobile apps as well.

You can launch into this field with the sole purpose of earning from affiliate marketing. Some of the plans that will earn you cash under this plan include cost per install, cost per click, and cost per view. The good news is that you have many ad networks to choose from after developing your app.

You have different options for including ads in your app include banners, rich media, interstitial, native ads, and videos. Decide from the start if you want users to utilize your app or click on the ads. Some of the ads can be annoying to the extent that users uninstalled your app. Hence, you need to choose the ad network and the type of ads carefully.

3. Sponsorship

Think about the future of your mobile app even before you contact the best development company. How long do you intend to run the app? Will it be useful to your target users in say 5 or 10 years from now? Remember that technology evolves daily. Hence, chances are that within that period, better solutions will be available for the same function.

The way to make money through sponsorship is to create a generic and simple app that attracts thousands or even millions of users. Once the performance is consistently high in terms of views and downloads, identify a company that may be interested in the app. Offer to update or customize the app to suit the company’s operations.

Sometimes a company may contact you even before you approach one if the app is good enough. When you get a sponsor, you can share the profits or earnings from the app. Alternatively, you may earn a monthly fee from the sponsor as long as they are using the updated version of your app.

4. Freemium

The strategy is slightly from the subscriptions described above. With freemium monetization, you need to create two apps; a paid and a free app. You start advertising the free app and attract as many users as you can. Give the users an option of upgrading to a paid version of the same app with additional features.

The most important thing in this strategy is to ensure that users like or benefit from the free version. Otherwise, they will have no interest in a paid version if the free version does not serve its purpose. One common approach among developers is to offer a free version with ads. If users want to use the app without ads, they can upgrade to the paid version.

Freemium works best when selling music or video content. No one enjoys watching videos with multiple interruptions. Be careful with the features on the free version. The features should be just enough to spark interest in the paid version. Consult a top mobile apps design company in Kenya if unsure about the features to include in both versions.

5. Email marketing

Any marketing expert will list email marketing on top of the list of timeless strategies. If you run a website or blog and understand the power of email marketing, you do everything to get users to leave their email address. The same applies to a mobile app. You can request app users to submit their email address for more information or updates on deals.

Always inform your users how you intend to use their contact information. Constant communication from your end without their consent will push them to uninstall the app. You do not want that to happen because you will lose earnings from other strategies.

Give users an option of leaving your mailing list or opting out of specific types of emails. An easy way to get users’ email address is to give them an option of signing in with their social media accounts such as Facebook.

Whether you have a running business or just exploring the possibilities of mobile app development, these strategies will help you earn extra income. One caution is to use each method or a combination of them carefully. Make the ads as subtle as possible such that users enjoy using the app while you make money.

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Top 10 Mobile App Development Trends in 2018 and Beyond

Mobile phones have become a part of our daily lives in such a way that life without them is unimaginable. Everywhere you go, you find people scrolling their screens for the latest social media updates, traditional SMS, emails, news, and videos among other things. Mobile owners above 25 years use their smartphones about 265 times in one day. Those between 15 and 24 years use their phones 390 times a day.

The statistics are a clear indication of why mobile solutions developers in Kenya are keen on following the latest trends. New innovative ideas emerge every year as mobile app developers try to give users the best experience possible on their devices. The following trends have dominated this field in 2018 and will continue in the coming years.

1. Accelerated Mobile Pages

The best smartphones have a large storage capacity, which enables users to download many apps for different purposes. At the same time, phone users have multiple choices of apps for the same tasks. Accelerated Mobile Pages improve the load time of web pages.

Google introduce AMP to helps app owners improve their conversion rates, bounce rates, user experience, and search engine ranking. If you are still struggling to keep your users engaged on our mobile app, consider this innovative trend.

2. Augmented Reality and Virtual Reality

Both augmented and virtual reality became popular in 2017, especially after the introduction of the Pokemon Go and Samsung Gear VR. The trend has continued in 2018 as developers implement the same on other game apps. Users have a great experience in the three-dimensional world right from their mobile phone screens. The technology is likely to spread from gaming apps to other types of mobile apps.

3. Mobile payments

Mobile payments are not a new trend in Kenya but the rest of the world is finally catching up with the technology. However, mobile solutions developers in Kenya now face the challenge of integrating mobile payments into apps. For businesses that sell products or services through their apps, their customers should pay conveniently on the same platforms.

Few buyers are willing to carry cash around when they can easily pay for goods and services on their phones. Apps like Android Pay, Apple Pay, and Google Wallet have simplified e-commerce for business owners.

4. Cloud-based apps

Cloud computing has been around for a while but it has taken a new shape in mobile app development. One major thing that mobile phone owners complain about is the limited internal memory. Cloud-based apps enable phone users to download as many apps as they need without worrying about the internal memory.

5. On-demand apps

The apps became popular towards the end of the year 2017 and continued to dominate the market this year. On-demand apps enable users to order for goods and services at any time and from any location. The apps have been utilized for renting houses, taxi services, food delivery, and car cleaning among other products.

In Kenya, Uber and Taxify are among the most popular on-demand apps. Android and iOS developers in Kenya are adopting the same technology to create customized apps for the Kenyan market. Clients do not need to call service providers if they can order and pay for services directly from an app.

6. Blockchain

Blockchain has become popular as the world shifts its attention to cryptocurrencies as a viable investment option. The banking sector and government firms have adopted this technology in app development more than other sectors. The technology enables users to manage financial transactions, contracts, and assets easily. Blockchain technology is not limited to financial management but has spread to other categories of online transactions.

7. Instant app

Here is another trend that mobile solutions developers in Kenya must keep up with to remain competitive. Many times mobile phone users download an app for a specific task or transaction. The app becomes useless after the task. In other instances, users need only one aspect or function of an app.

Instant apps enable users to use portions or specific features on an app without downloading and installing it on their phones. Users can view the content of an app when they need it without installing. The New York Times led the tech world in utilizing instant apps by allowing users to access its crossword without installing the full app.

8. Improved app security

As phone users continue to adopt mobile payments, security becomes a top consideration when choosing apps. Our heavy reliance on mobile phones for virtually all activities demands that we protect personal data and information. Mobile app developers are using security as a major feature to attract users.

It may be impossible to market an app in the future without assuring users of reliable security features. While it is impossible to guarantee 100% security, users need an assurance that the app owners care about their privacy and security.

9. Wearable Apps

Wearable technology was first introduced in sports and fitness markets in form of devices. The same technology has been adopted in apps that help users analyze certain health aspects. In addition to tracking fitness activities, users can analyze their calories count, walking pattern, and quality sleep. The increase in the number of lifestyle diseases has led to an increased demand for wearable apps.

10. The Internet of Things (IoT)

IoT refers to a network of objects, which are referred to as “things.” The physical objects are embedded with sensors, programs or software, electronics, and network connectivity. The object can collect and share data depending on the embedded elements without human interaction. The technology has just begun but statistics show that the IoT will explode in the coming years.

Mobile app development evolves as developers compete to give users easy-to-use and fast mobile solutions. Mobile solutions developers in Kenya must keep up with development trends given the high competition from thousands of apps. Innovative ideas in app development help business owners to differentiate their apps and improve their conversion rates.  If your business is still using a generic app design, it is time to consider these trends to get more downloads and enhance the user experience.

 

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The Top 5 Instant Loan Apps in Kenya

What do you do when you need quick cash? Kenyans no longer queue at the bank or call friends to borrow a small amount. Mobile solution developers in Kenya and beyond have created instant loan apps, which are a relief to many borrowers. You can get a quick loan on your phone within seconds as long as you have good credit.

The convenience comes at a cost depending on the instant loan app that you use. In addition, the terms and conditions including the interest rates vary across apps. You can increase your loan limit by repaying on time but the repayment period remains the same.

Most people turn to instant loan apps when faced with an emergency. While you may be pressed to get money fast, you need to understand the terms and conditions first. You do not want surprise penalties or reminders of pending repayments when you have no money to pay.

We have made it easy for you. This article reviews the top apps that you can download and access a quick loan in Kenya. Here is the list of the top instant loan apps.

Top Instant Loan Apps

1. Tala

Tala (formerly Mkopo Rahisi) is an Android App that serves customers in real time. The owners of the Tala Company refer to themselves as data scientists, customer experience designers, and finance wizard. The engineers use alternative data to assess the credibility of billions of people who are financially underserved.

Tala is not only a leading instant loan app in Kenya but also in Tanzania, Philippines, and Mexico. According to the data on the company’s official website, 85% of the customers get an approval in less than 10 minutes. Customers do not require any collateral to get a loan. This feature attracts thousands of Kenyans who do not qualify for bank loans for lack of collateral.

One feature that makes the app stand out from other instant loan apps is that it has no rollovers or penalties. Once you apply for a loan, you are notified of the amount you will repay and the repayment period. No hidden charges or penalties are charged on the amount. Hence, you can always calculate the outstanding amount at any given time.

For the Kenyan clients, Tala sends the approved amount to their Mpesa account within seconds. You can build your credit limit up to 50,000 Ksh by repaying every loan on time. The repayment schedule is flexible to accommodate different needs and earning periods.

2. Branch

The app works the same way as Tala and other instant loan apps. Customers can apply and get loans within seconds. However, the application process is slightly different. Other apps require you to download the app, register for the service, and apply for a loan on the app. Branch requires you to log in through your Facebook account.

Kenyan clients get funds on Mpesa while those in Tanzania get it via Tigo Pesa and Vodacom Mpesa. Nigerian clients get cash through their bank accounts. The app does not charge late fees and rollover fees, which a relief to many borrowers.

Customers can increase their limit through timely repayments. The current limit is 50,000 Ksh. It is easy to view your loan limit and calculate the interest rates charged on the app.  The customer is always in control of the finances. You can spend the loaned amount on anything as long as you repay on time.

3. Saida

Mobile solution developers in Kenya give clients more than one option of getting quick credit. Saida uses alternative such your phone calls, SMS, mobile data, and Mpesa account to determine if you are eligible for a loan. When you download and install the app, you will be required to answer a couple of questions.

After submitting your answers, the app assesses your data and sends a message with the amount you can apply for immediately. The unique feature about Saida is that it gives you reasons why you did not qualify for a loan. The app also gives you a guide on what to do to qualify for a loan in the future.

If your application is successful, Saida sends the amount to your Mpesa immediately. It also explains the repayment terms. The downside of using this app is that it takes up to an hour to give feedback on whether you can qualify for a loan or not. Other instant loan apps take minutes to give feedback.

Some clients complain of waiting for days and sometimes weeks to get feedback on their application. Others complain of poor customer service because the app lacks a phone number and social media platforms. However, the majority of customer reviews shows that the app is useful.

4. Haraka

Haraka, as the name suggests, offers a quick way and convenient way to apply for a loan on the go. The app requires you to register with your Facebook account. You will immediately view your loan amount, apply, and get cash on your mobile wallet.

The app uses data on your phone including SMS transaction history. It also evaluates your public Facebook profile. The data helps the owners to verify your identify and determine your affordability and credit scoring. Hence, you may want to maintain a clean record on Facebook to qualify for a higher amount on the app.

Haraka is available in several countries including Kenya, Swaziland, Uganda, Tanzania, and Zimbabwe. While the app has spread its wings to other countries, some Kenyans are complaining of the high interest rates. Other complaints include non-reflecting repayments that lead to penalties and annoying reminders. The customer care is also below average based on comments from customers who were dissatisfied with the app.

5. Utunzi

Utunzi is among the most downloaded apps in Kenya for quick loans. Like other instant loan apps, the owners promise a quick decision on your application. The app sends money to your Mpesa account when your application is approved. Quick repayments translate to a higher loan limit.

The loan amount ranges from hundreds to thousands of Kenyan shillings. Unfortunately, many clients have had a bad experience when using the app. In addition to the high interest rates, the loan amount does not grow as expected. The loan limit has remained the same for some clients who repaid on time.

We have reviewed the most downloaded instant loan apps in Kenya. The review should help you make an informed decision when looking for a quick loan. Remember to check the repayment terms and interest rates before confirming your application. Most apps give you only four weeks to repay the full amount. If you want to make a difference in this field, mobile solution developers in Kenya can help you develop an alternative loan app.

 

 

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