Thanks a lot I am building a social sharing platform for software engineers and cybersecurity experts where we share blogs , tutorials, projects , resources for engineers to grow to start and grow their career. I am also planning on sharing some successful founder journey. I am not sure how I could mobilize this app. I am almost done with prototype.
Number 5 is my preference, but you need solid T&Cs for the users, a solid and watertight privacy policy, avoid even collecting personally identifiable information (PII) like the plague if you are wise (not smart to hold that data anywhere as what can be held can be hacked) and anonymize user data... Does this sound about right for point 5? That and check vs GDPR, UK and US privacy laws.
I am presently 8n the process of getting an app built for an idea I have. It's troubl8ng deciding on the best course of monetization. This content was really helpful. Still debating but it helped.
i enjoy the simplicity of the content peovided. Would you suggest or recommend any tubers who teach the Backend legal enrollments of business in the business of apps, need more depths to understand how banks will back you up in this type of business.
Hey Heini, what do you think about websites? I think that they are the future, despite the app boom of the 2010s. If you have an established app right now, that's great. But starting one in 2023 my be an uphill battle as people don't like downloading new apps.
Plus the web of today is not the web of 10 years ago. So many small features have been added to html, css, and javascript that they add upp to a lot, and have closed the gap to native development by a lot. And legacy browsers have gone extinct and most users are on self updating browsers now, so you can realistically expect all these modern features to be available. Lots of stuff you had to go native for before you don't have to any longer.
Thanks yes this is a good point and question. I would say that 10 years ago we believed that web was going to eat apps within the next 5 years. This has not happened although the feature gap has become much smaller, web can do almost anything now. My conclusion now is that the apps are still very much alive and will keep being so for the coming years. New tools like Flutter have also made it considerably easier to build an app. That said, when you start out if you can build it on web only start with that. Then if it works move to making an app.
@@RawStartup Good point. Reminds me of how people have been saying "this will be the year of the Linux desktop" for almost 30 years now XD The important distinction is how the mobile web is actually available on all devices right now.
@@Sammi84 The year of linux desktop lol. But this is true though, and I think the main benefit of a website is that you're not subjected to the whims of a company (Google or Apple) and their app stores that can block you at any time or add a fee etc. And, most of the time you're using tools that are open source and free. It's the closest you can get to actually owning a digital property. Sure, there are situations where an app is definitely better, but it's less obvious nowadays.
You need to look page views and this is calculated in CPM. One CPM is 1000 page views. You can get paid everything from $1 to $50 per CPM, but I would say $10 to $20 is pretty normal.
Thanks yes very important point, it is mostly 30%, but this is coming down Google is down to 15% on subscriptions and Apple does 15% of the second year. As far as I can tell.
@@RawStartup yes they are slowly adjusting it (with conditions) but it still makes it feel like swimming up against the revenue stream - especially if you only have 1% paying customers
Great video as always! I've seen many online services and apps that initially were free or use freemium model but then they had to start monetizing. Which is the way to go from a freemium model and evolve to a recurring payment model without suffering too much? I'm developing an app that can be used once a day or maybe a couple of times a week for 1 or 2 minutes. I think the freemium model its the best but with in-app purchase options but that way there are no future incomes from the app so it could be dangerous for the future expenses of the app. It's a big dilema! 😛
Thanks, yes good point, the key here is to do a lot of testing as you start monetizing. You cannot trade Monetization for growth, then you are in trouble.
Hi Heini, thanks for this, very useful. We were going to offer subscription models for our organizational dApp but have decided that we would instead let users make one investment in the dApp, at different levels and they would be organized forever. There will be no advertizing on the dApp. In your experience are we making a mistake?
It really depends, but if the users keep using the app for a long time. If they see value for a long time then I would rather have a subscription. If on the other hand, they don't stay very long or it is very infrequent then maybe a one-time payment is ok.
@@RawStartup Thank you, users will keep on using it for a long time. Our thinking was that we want them to get the best value out of 1 investment. May I ask, is a subscription model better for the App company or for the user?
I think that is very different, yes certainly also annual pricing. Often there is also a lot of customization and I would make sure there is a minimum commitment.
![How to Monetize an App [In 2023]](/img/logo.svg){kind=logo}
