Social media networks are a great tool for your business to earn money. Right now, there are about 4.48 billion people all over the world who have some sort of social media presence. However, if you want to keep a bigger share of the profit, you may want to build an app for yourself. What should you keep in mind during app development? What monetization strategies can you use for this?
This is how to create a social networking app for profit.
Before you can think about making money off of your social media app, you need to make sure that it is an app that your users want to go back to. To do this, you need to make sure that your users have a great user experience.
Your first impression is everything considering that 88% of people would not go back to a website or an app that they had a bad experience with. On top of this, 70% of online businesses fail because they have bad usability.
What can you do to prevent this? For starters, make sure that it is easy to navigate the app. This means having clear buttons and markers to go from page to page on your app.
Also, make sure that your loading speed between pages is not a problem. Users are not very patient. More than half of them will leave your app if it takes longer than three seconds to load a page.
Doing this along with avoiding actions that turn users off is the key to a pleasant user experience.
As a business owner, you still need to make sure that your app is profitable. However, this can get difficult because if you have a poor strategy for ad placement, it can negatively impact the user experience.
An example can be if you decide to have ads constantly pop up every time a user decides to change pages or change tasks. While users will tolerate a little bit of this, doing this too often can turn a user off from using your app.
This is why you want to be careful with how you go about advertising.
One thing you can do is limit ads to show up at the side of a page or the bottom of a page. Or, you can accept sponsorship agreements. An example can be presenting your social app as “Insert App Name powered by Insert Sponsor Name.”
Doing this discreetly can get you the ad revenue that you need without impacting the user experience.
These are two things that you should keep in mind if you want to create a social networking app.
Do not underestimate how important it is for your app to offer a good user experience. You need to think about this when you are trying to determine how to go about getting advertising revenue. Luckily, there are more subtle ways to do it with certain ad placements and sponsorships.