No one can deny that apps for smart phones are revolutionizing the way people not only use their phones, but also how they function in daily life. From apps to help you relax to those that simplify to-do lists or teach you a new skill, there’s an abundance of apps in virtually every category imaginable. In the iTunes store alone there are over 125,000 apps, and over one and one-half billion downloads have taken place.
For the companies that create and market the apps, making money from them is obviously a goal. In the past, companies made money from apps by either charging for them, placing a pop up ad in the app, or by giving the app away with the hopes the user would buy some other related product or service. But that was yesterday, and the future is already starting to look very different. In fact, companies that still rely on those methods for income from their apps don’t realize the true income potential of apps or how they can transform the business landscape.
One company, Visionary Apps, has embraced the future of apps and how to make money from them. In fact, they were making money on their first release of apps before they were even available for download. Three weeks after the official launch, one of their apps was the 17th most downloaded app and was rated #6 in business apps. And even though all three of the company’s initial apps are free to the end user, each has the potential to earn millions of dollars each year. In essence, Visionary Apps has successfully redefined how companies can earn money from their apps.