As top-grossing apps skyrocket in revenue, examining their marketing tactics and income strategies can be valuable in the world of e-commerce.
There is much to learn from global apps projected to earn nearly $270 billion by 2025. The metrics of premium app spending, Apple App Store subscriptions, and in-app purchases allow businesses to understand how to better their outreach markets and succeed.
3 Kinds of apps
To understand an app’s revenue and income, it is important to understand the specific terminology that describes the app subcategories.
- Free apps: free apps are marked with a $0 cost to download. In other words, when downloading a free app, one does not have to pay for usage. The top three current free apps include TikTok, Paparazzi, and YouTube.
- Paid apps: paid apps encompass all apps that require a charge greater than $0 for download. This can be seen through the top three paid apps; Minecraft, HotSchedules, and Bloons TD 6.
- Grossing apps: grossing apps include the highest rate of revenue as they offer paid subscriptions. The top three grossing apps include YouTube (subscriptions), HBO Max, and Roblox.
Most profitable app categories
When considering the most profitable apps, five categories have risen above the rest with their success; two of the most successful, top-grossing apps, TikTok and Roblox, fall into these categories for their influencer status and accessibility. These five categories include:
- Media and entertainment
- Social media
With app spending increasing each day, marketers can benefit from understanding skills that top-grossing apps use to produce their extensive revenue. In addition, there are many opportunities for developers to improve their marketing practices, like optimizing for a cross-channel experience. Some of these ideas include:
- Opportunities for in-game currency, used in Roblox. This encourages gamers to up their spending as they engage with the program.
- Diversifying your network partners, used in TikTok. By using celebrities or influencers who resonate with your brand, you can appeal to a large group of their followers.
- Develop new digital marketing strategies: keep up with trending news topics, politics, and news that will draw your target audience.
For more information on how to implement top-grossing app marketing strategies into your business, visit Clevertap to improve your outreach marketing efforts.