Now that summer is here, why not use some dedicated quiet time on the beach lounger or during your daily stroll to come up with an idea for an app? One of the best ways to start the idea process is to think of one of your biggest problems or someone else’s and come up with a solution
The Mobile App Development market industry is projected to grow from USD 82.32 Billion in 2022 to USD 366.93 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 23.80% during the forecast period (2022–2030). With billions of smartphone users worldwide, there’s a vast audience hungry for innovative and useful applications. The key is to be proactive, set aside time for ideation, and use the wealth of resources available to bring your app to life.
Freelance Informer has reported the potential for freelancers to develop and launch a mobile app in just one week. This presents a lucrative opportunity for those looking to diversify their income streams or even create a whole new business venture.
How to Price Your App
One crucial aspect of app development is pricing. A common mistake is undervaluing your creation. To determine the right price point, consider factors, such as development costs, target audience, features, and competitor pricing. Resources like MindSea’s guide to pricing strategies can help you navigate this critical decision.
- MindSea: This resource provides a comprehensive overview of different pricing strategies for mobile apps, from the simple “paid” model to more complex subscription-based approaches. (https://mindsea.com/mobile-app-pricing-strategies/)
- AppsFlyer: This platform offers valuable insights on how to calculate the market value of your app, taking into account factors like development costs and competitor pricing. (https://www.appsflyer.com/blog/tips-strategy/app-pricing-strategies/)
By researching and understanding the market, you can price your app competitively while ensuring a fair return on your investment.
Key Takeaways for Freelancers
The app market is accessible to everyone, including freelancers with limited time and resources. Don’t underestimate the potential of your next big app idea. With the right resources and a strategic approach to pricing, your app could be the next big thing.
Your million-dollar app idea could be just a week away or whenever you get off that beach lounger.
