Looking to build your first highly profitable app or portfolio that's actually scalable?
Something you can call a reliable stream of income and not just the old...
"It depends on how many downloads I get this month"
...response. What if you could decide how many downloads you would get each month? If monetized with the right app, then you could have much more control and piece of mind.
Do you ever wonder how the successful app developers are always a few steps ahead?
They publish apps that get consistent downloads + generate consistent revenue and then before you can get your piece of the pie, they sell off a small portfolio for more than my 2-bedroom house cost and move to the next niche.
Those people used to drive me nuts.
What was so special about them?
I would tell myself: "They must have just got in at the right time...I missed the boat".
Why did everything these people touch turn to gold, while I worked myself into the ground? What was the secret?
I’ll tell you exactly what the secret is that took me awhile to figure out..
Amateurs take things the way they come. Pros go out and make things happen.
So in up until 10.5 months ago, I was still publishing apps part time. It brought in a little money, but the majority of downloads were always from the initial launch of an app or seasonal.
That meant I couldn’t predict my downloads or revenue. It wasn’t a big deal then because it was just a part time gig.
I always had that next idea that would change it all. Sound Familar?
Don't get me wrong..I love that part about me, but as I get a little older and lost some serious cash and time on projects, I realized there has to be a balance right?
You can chase a lot of your crazy ideas that "might" payoff someday, BUT you have do some things that you know work and that you know are doable today.
With a balance you can pay the bills today and not stress about money all the time (been there) plus build out some new things for tomorrow.
By doing this it preserves the integrity and creativity of your visionary idea.
When you have to turn one of those ideas into an idea that must pay next months bills, it can full apart pretty quick. That once fun idea now leaves a sour taste in your mouth just thinking about it.
When I decided to go full time do you think I could afford to sit back and just “hope” for downloads and revenue?
Nope. I had to find that balance.
I built a workhouse that could bring in consistent revenue while I build up other projects.
So I focused on one game and dialed it in over time . You can see that it took 3-4 months, but it was worth it when I decided to scale up.
December revenue was $630
January revenue was $1630
That's a 158% increase in revenue from one month to the next. When you combine that with my 182% ROI (more on this later), it's pretty exciting!
However, it wasn't easy.
BTW, February revenue hit over $2500 (That's one app)
(Looking back a bit)
If I had heard about one more app developer sell a portfolio of old games deep into six figures, I might have went nuts.
Every blog post I read and podcast I listened to talked about mysterious app promotion strategies or user acquisition techniques they used last year to make $XXX,XXX+. But NO ONE would tell me exactly how to build up a portfolio and how to make the most money from it.
Finally after refusing to take no for an answer, I said,
“Screw it!” The only way for me to figure this out was experiment and learn the hard way.
To basically pay for my education in failures to a means to success.
Seems simple I know, but quite a different story when you are living it. When you are depending on it to make a living. This isn’t some cute situation I’m crafting to tell a story. This is my livelihood. I had to figure it out or eventually run out of money.
Some easily cave under pressure like this. I tend to thrive. So that’s what I did. I made it happen.
So used our apps to run tests and dial things in and talked about it on the Moneyfromapps.com blog.
How much money can you make from pushing paid traffic to your apps?
That’s hard to say exactly because there are tons of app categories out there and a lot of apps that are still setup to monetize in the ways that worked 2-3 years ago...not 2017.
But what I can say is how much money we are making using our casino slots game, Mega Jackpot Slots.
Let’s use a few examples before I explain it in the video.
In the video I show you exactly how it's done.
An app developer and marketer that also happens to be a hungry runner/cyclist that loves to push the limits beyond the reasonable standards. I started publishing apps back in October of 2012 (part time) and learned a lot along the way. In August of 2016 I finally went full time with apps. Now 10.5 months later things are still going great! At Moneyfromapps.com, we teach you everything we’ve learned along journey to publishing apps full time. From blog posts about improving revenue to hands-on tutorials. Through a lot of trial and error, over 125 apps in the App Store, over 950k downloads before we started using paid acquisition, we’ve learned how lucrative an app business can be if it’s approached the right way.
-Todd Smith / Outlandish Apps & Moneyfromapps.com
Good for anyone that's stuggled in the app game.
Whatever you do, avoid these 5 things....Please!
There are 5 mistakes I constantly see people making (I used to be one of them), that derail them and crush their chances of making it.
On my journey from part time app developer to fulltime app developer using a self built system to earn 182% ROI on my ad spend, I encountered these and was able to beat them.
You will probably face each one on your journey, but you have to OVERCOME them if you are going to reach your goal of building up a profitable app(s) that scale.
Building your entire business off stuff you learn in blog posts and podcasts
Most "experts" on a podcast or guest posting on a blog are invited to talk about how they were able to figure out X, by doing Y. The results and tactics can be 100% Genuine, but the steps they run through aren’t always the full picture.
It's not because they are lying. It's probably because they only have so much time. The problem is....
It can come off like the steps they talk about are the only ones you need to reach success. They don't have time to hit on the topics in-between the lines.
It helps when you don't have to rush through things AND you use a plan that someone [ME] is using (at a similar level as you) to produce results in todays market. In 2017. Not 2-3 years ago. Keyword is "using" not used. Not speculating. Not guessing. Not assuming or projecting. Not promoting an idea just because it makes sense. Using. Using it today.
Not setting up your apps to monetize in todays market.
Whether you are using your own apps, a template or a custom template project, they need to be setup to monetize for todays users. A lot of apps leave out this step. Seriously. They spend so much time and effort building it yes they fall short. I've sure you've had projects in the past where you got it 90%, but don't finish it and that last 10% kills the project.
It's like building a very pretty looking product, but you ran out of time so you skipped product testing and it doesn't work. So it looks good, but doesn't solve the problem it was supposed to.
So you have an pretty / shinny product that you can tell people you have, but is that the point?
Or would you rather have a product that could use some visual improvements, but functions great. Over delivers!
Kind of like this blog post where I asked...
"Do you want to tell people you publish apps or make money from apps?"
Big difference. I should know. When I first started out (back in 2012), I was the latter.
Thinking you need overnight success and those other people just got "lucky"
So timing is real and some people do just get lucky.
Heard of the lottery?
However, the odds are so slim that a lot of these people couldn't have all just "got lucky" or "timed it just right".
I didn't give this too much thought until last year when I started getting out and meeting more app developers and marketers from all walks of time at with varying degrees of success. It started with an event in Hawaii last May.
If all the successful people I met just "got lucky" then why were all their circumstances different? Ethnicity, Location, App Categories, Age, Gender...?
It was because most of them didn't "get lucky". They worked hard, learned from their mistakes and from people smarter and more successful than them. Eventually things started going their way.
It's funny when you read an interview about someone that finally "made it" and it looks like overnight success. A lot of times they tell the real story about how they failed on projects and struggled for 5-10 years before this success.
My point? I thought it was clear, but here's the summary. Instead of just looking at successful people as a rarity, I started meeting up with them in Hawaii, Amsterdam, San Francisco and Florida to see how I could help and learn from them.
I found that even if you sit down with someone that is in the exact business shoes you want to fill, ask he questions you think you need to ask, it still takes hard work and more information perspective ad failures to really blaze your path to success or even a win.
You take little nuggets along the way and pair that with your own unique experience to really find something that works for you.
I know I wouldn't be where I am today without building relationships with people at events like these.
Picture Locations from left to right:
Hawaii, Amsterdam, San Francisco
Thinking you need more downloads than you really do
I know we all have this great idea that we need a million downloads to create an app business, but it just isn't the case. At least starting out I think It's important think a little differently.
First: Let's think about the goals you have in terms of revenue Second: We can think about your resources at hand. What apps do you have that are already of great quaility and monetize well, but just need more users. If you don't have any resources then it's time to think about what kind of apps are monetizing well for others and how you can do it do. Here is an example of how few downloads / paid app installs you need to generate $87 a day in revenue ($2610 / month)
Let's break it down for this 3 day stretch.
Facebook delivering 60 mobile install ads over (3) days = 20 installs a day. Those cost $87.35 or $1.46 per install.
It's worth noting that the cost per install is pretty high because I was using an old ad, but I still goes ROI positive (by A lot...keep reading)
Then we were able to get 1,403 (652 + 440 + 384) ad impressions within that game to the users.
Out of those ad impressions we got 49 installs (21+15+13). Those 49 installs generated $263.55 in revenue.
That's $5.37 per user!
The ROI is 201.72% When paid app install campaigns are on, we get a few bonus downloads from shares and I think it boosts our ranking a little. When I have turned them all off for a few days, the downloads pretty much disappear.
So [Turned ON] , we can generate 201% ROI. [Turned OFF], we get a few downloads a day which = $0 revenue.
(Btw, not that "turned on" lol)
Which model would you rather build a business with? So for $87 a day revenue it took 20 downloads per day. Did you think you needed 10,000 downloads a day?
That would be nice. Absolutely and the great part is, you can have them. It might cost you $15k, but on that investment at 200% ROI generates $45k in revenue leaving you with only 30k profit for the day. I joke on the "only" of course.
Getting to that level is down the road for us. The next milestone is spending $500 a day on Facebook mobile installs with our beefy ROI. So now you know that it doesn’t take massive downloads to generate a decent profit. It just takes the right advertising using a highly monetized app.
Trying to figure everything out by yourself
So I'm sure you know this, but it's pretty easy to "know" a lot of things you should be doing and still put them off.
If you have some small thing to fix around your house that may take 5 minutes, but you have looked at it every day for the last year...that's fine. We all have little things like that in our lives.
However, trying to do everything ourselves is just crazy these days. I know I'm great it some things, but for the things I'm not...I have someone else help. For example, I'm not a programmer, but can solve a lot of issues with UI, errors and tweaks in Xcode. That helps me in a pinch, but I am not going to spend 8 hours doing something that a programmer can do in 30 min.
I used to try and do it all. That's a great recipe to do a lot of things just average or slightly below. If you hone in on your strengths to make them better then you can do a few things or even just one, but be GREAT.
Getting great and helps you push though when it get's tough.
Let's jump into the 2 stars of the show.
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