Let’s dig into how you can make profit when buying & optimizing low priced apps!
How to buy an existing app
First you find an app for sale that you would like to purchase. There are several platforms existing for purchasing apps, one for example being the very popular site Flippa.com. After you find an app you would like to purchase, you need to place a bid for it and wait to see if you win the bid and if the seller has any questions for you.
You can always try to negotiate the price down throughout the discussions and if you’re lucky, the seller agrees on transferring the ownership of the app to you!
Tip! If you have zero knowledge about AdSense or blog monetization, you should avoid purchasing a content based site.
Optimizations to instantly raise value to the app
Few extremely simple changes can make your new app, website, or other digital asset more valuable in no time. Take over a business can be extremely challenging, however, the good thing is that there are numerous ideas, which can help you with the optimizations. Sometimes even the basic ideas work the best. Some of these very basic ideas are –
Update the logo
Sometimes, the original logo can simply look cheap and might not just click. Here, you can make a change by devising something, which would bring extra trust in the brand for anyone browsing the app store.
These days, people don’t think twice before using Facebook advertising algorithms or complex SEO strategies to grow their businesses. And, there is nothing wrong in that, however, the truth is that a lot of profit can be earned even by using old school brand marketing techniques. It is not an issue if you are not a designer yourself, as you can easy get a logo designer who can create a logo according to your needs. A logo can update the appearance and feel of your business, which can in turn, quickly get in more conversions because of the trust.
Add a premium version
If your app is allowed only slight changes to the UI, and change on the backend functionality of the app is not allowed, it is best to build an upgraded version of the app. This updated version can have numerous extra features that you believe that your audience would enjoy. However, if you are not able to put it onto the app store owing to the various regulations, it is better to build a website and added the new, “premium” variation of the app in it. This can be for a price. Your current customers could be interested and you can get traffic on this website through this. For this, you can add a link to the new website within the original app.
Adjust the pricing
Other than changing the menu layouts and button colors on your new upgrade website, it is also important that you adjust the pricing of your app on a weekly basis. After adjusting the price, you need to track sales and total revenue over an amount of time to find out what will be the most successful final price for the app.
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