Whether you are looking to book a cab, order some food, or make a reservation at a hotel, you are likely to find an app that meets your needs in the various app stores. Apps have made life easier because they allow users to access and buy products and services with just a tap on their smartphones. This is why a lot of people are investing in app development. They hope they’ll come up with the next trending app that solves people’s problems.
While it can be a good thing, the reality is, not all apps are profitable. Profitable apps are ones that can convert and retain users for a long time. Below are five profitable apps that you can build today.
The popularity of travel apps is on the rise as more people shift to using their smartphones to find suitable travel destinations. Regardless if you own a travel business or not, you can definitely reach millions of people through a travel app.
There are various ways in which travel apps can generate revenue. The first is through reservations and bookings. Adding an affiliate link to a suitable hotel or lodge in your suggested travel destinations can bring in high revenue from commissions.
You can also include features that are timely and relevant in order to market your travel business or app. Adding coupons, vouchers, or discount codes for restaurants and hotels in your travel app will increase your earnings. Doing travel challenges and providing rewards for completed challenges will also appeal to younger app users.
You can even partner with businesses such as travel companies, airlines, and hotels and connect their systems and processes to smart devices using your app. When things go back to normal after the COVID pandemic, the travel industry will really need some boost and your app can be of help.
Health and Fitness Apps
Everyone is striving to stay fit and healthy, and you will realize that people are not hesitant to pay for health and fitness apps on their phones, making them some of the top-grossing apps in terms of annual revenue. Some of the most popular categories of health and fitness apps include;
- Videos and coaches for personal fitness
- Calorie counter and diet apps
- Guides and coaches for meditation
- Workout trackers and workout plans
Moreover, Apple has included some of the most popular apps in the health industry into a self-care subcategory where iOS users can access them with ease. Many users prefer these apps because they empower their physical and internal strength, allowing them to become more productive. Additionally, the increased drive for people to become more mindful of their physical health has affected the success and popularity of fitness apps.
Apps that offer additional capabilities such as access to an online community with like-minded individuals are especially preferable among users. Such apps serve as social networks for bodybuilders and athletes, where they receive virtual rewards for completing specific activity goals within their plan.
The demand for health and fitness-related apps among women is another factor that has immense contribution to the success of the industry. This factor has driven many app developers and app owners to produce fitness and calorie counter apps explicitly dedicated to women’s needs. Most of the health and fitness apps are compatible with smartwatches and other wearable devices, which has further increased their popularity.
Health apps have proved beneficial during the covid-19 outbreak. In response to the virus, many developers and app owners created mobile apps that help individuals in self-assessment. Through these apps, people can assess their likelihood of getting infected with the virus while accessing information about the outbreak in real-time. Some apps also help the government to keep track of individuals within their country to aid in quarantine enforcement.
The governments are also using these apps to track the movements of people who tested positive for the virus. In return, this helps to trace their contacts and have them tested before they come into contact with more people. The apps, therefore, aid in minimizing the spread of the novel coronavirus.
Video & Music Streaming Apps
Video and music streaming apps are the highest rating apps when it comes to financial gain. Some of the top-grossing apps in 2019 offered some form of streaming service.
Since customers pay subscriptions to access the app services, app owners gain direct revenues from their investments. For example, Netflix is the second highest-grossing app worldwide, making hundreds of millions of dollars per year. Many mobile users spend most of their money on subscription video-on-demand apps compared to all the other apps on their phones.
App developers require users to pay so that they can explore premium functionalities within the app. This means that developers can take advantage of the subscription app model to secure more consistent revenue streams from their apps. Established customers make weekly or monthly payments to access app services, therefore generating consistent revenue.
Besides music and video streaming apps, dating apps also top the list when it comes to top-grossing apps. According to statistics, users spent over $238 million on Tinder in 2019. Other dating apps that have gained popularity and high earning include Tantan, Bumble, Badoo, and Paris. Most of these apps generate revenue through their customers’ adoption of their premium versions or payments made for in-app messaging services.
Messaging and Social Media Apps
Social media and Messenger apps dominate the charts when it comes to the most downloaded apps in the recent past. App developers and owners also reap many benefits from their social media platforms. Today, nearly every individual has multiple accounts on some of the most popular social media platforms such as Instagram, Twitter, and Facebook. Many users also prefer these social media platforms because they have instant messaging options that allow for accessible communication and message sharing.
These factors have led to the popularization of Messenger, an instant messaging app that accounts for around 1.3 billion users every month. Business owners also prefer such apps because they enable secure communication between the brand and its customers.
If you want to build a profitable app, you must ensure that you select a prominent industry that attracts many users. Consider the above categories for excellent business success.