💡 The Secret to Finding a Mobile App Idea that Will Actually Make You Money
And won't cost a fortune to make.
👋 Hey, I’m Casandra. I share research-backed business ideas to help you start and grow a business. This is a 🔒 Premium Edition 🔒 of Really Good Business Ideas.
Welcome back to Really Good Business Ideas! Today, we’re kicking off a series looking at a new business opportunity: mobile apps.
Mobile apps are a great option for creating a simple business that can support your lifestyle. With the right idea and a little bit of upfront work, you can create a basic mobile app that solves a real problem for your users while providing you with recurring revenue.
Table of Contents
The Opportunity 💰
The Opportunity 💰
Let’s start by talking about how much opportunity there is in the mobile app space.
Mobile app usage is at an all-time high with 257 billion mobile app downloads in 2023, and users spending an average of 5 hours per day using mobile apps.
Let me repeat that.
Five hours…per day! ðŸ«
One constant in our economy is attention. Each person has a finite amount of attention to spend. Right now, a lot of of attention is going to mobile apps and that attention is what you monetize.
What’s even more interesting is that mobile app spending has proven to be resilient against the recent disposable income squeeze. This means that even as people have less disposable income available, they’re continuing to spend money on mobile apps. This is similar to how people treat utilities in times of financial strain. It’s more than a nice-to-have, it’s a need-to-have.
As mobile app usage continues to grow, it’s not surprising that mobile ad spend continues to grow alongside it as marketers are taking advantage of this attention and moving more of their ad budget to mobile apps.
To summarize:
Mobile app usage is at an all-time high.
Consumers continue to spend money on apps, even as disposable income declines.
Advertisers are spending more and more on mobile app ads.
What does this all mean? There are huge opportunities for apps to capture attention from consumers and monetize that attention through subscriptions, in-app purchases, and ad placements.
On top of that, smartphone usage is only expected to keep growing so mobile app usage will continue to grow, too. And the mobile app stores are a huge traffic source only mobile apps can tap into.
Intrigued by this opportunity? Keep reading to find out if a mobile app business is a good fit for you and exactly how to get started.