Market Research...

[anoninnyc]

Hi All,

So, to put it simply I plan on creating a functional app. I plan to invest a decent amount of time in developing, creating, and marketing my business, to say the least.

I have a few ideas in mind, but have not decided on which Idea to settle. I do know I want to make something that improves people’s lives (via increasing efficiency, in a general sense). Of course, I want it to be a revenue driver.

First, though... I have an important question.

Where, or how, can I conduct the best market research on which apps are downloaded the most, and by which demographics… and what the estimated revenue the app studios make in the process? Which sell the most? Etc...

Thanks in advance for your help- It really means a lot,


Krishan

[Wozcreative]

I recently read an article that 80% of apps do not make a profit for their creators.
99% of apps get opened once and used once.

When you take the average apps that do make a profit they usually make about $14,000 a year. (remember this is the top 20% that make any profit at all).

So if you are trying to base the profit on app sales, I do believe you won't make much money. Hopefully you have a business model that is a monthly subscription.

Other than that, I'd just do the research online, read articles and statistics that get put out regularly. Find out if they are true and how you can work with them. You can also contact a research company to do this for you.

[billbenson]

I recently read an article that 80% of apps do not make a profit for their creators.
99% of apps get opened once and used once.

When you take the average apps that do make a profit they usually make about $14,000 a year. (remember this is the top 20% that make any profit at all).

So if you are trying to base the profit on app sales, I do believe you won't make much money. Hopefully you have a business model that is a monthly subscription.

Other than that, I'd just do the research online, read articles and statistics that get put out regularly. Find out if they are true and how you can work with them. You can also contact a research company to do this for you.

Or, assuming you can put a plan together for making profitable aps, you could use the multiple ecommerce website sort of model. On another forum I go to, many of the people are webmasters who just keep putting up new sites. One is profitable enough at it to have a small staff. Most websites are in the black.

The trick as I see it here is getting that formula together for making profitable apps. Once you figure that part out, you can duplicate it.