In today’s 4pm EDT live stream, I’ll show you how easy it really is to create money-making YouTube videos from scratch LIVE right in front of you. 4 Day Summer Sale ends soon. Coupon code: SUMMER.
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Recent research from app analytics platform App Annie found that there are nearly 3,000 apps making at least $1 million in revenue per year. That represents significant growth from past years, suggesting that apps are becoming an increasingly viable source of significant revenue for businesses.
If you’re looking to make use of this emerging tactic, there are plenty of different ways you can go about it. Small Business Trends recently spoke with Abs Girdhar, CEO of popular app builder Appy Pie to get some expert tips and insights about how businesses can successfully make money with apps. Here are some top tips.
How to Make Money With Apps
Release Paid Apps
The most obvious way that you can make money through an app is to sell it directly to customers. Many apps in Google Play or the App Store are free to download. But others cost anywhere from $0.99 and up to download. This is a tactic that can logistically work for any type of business. But your app does have to offer some kind of tangible value that customers would be willing to pay for. So something like a game or dating service could possibly work, while an app that offers products from your store that customers could also buy online might not be worth the investment.
Offer Premium Upgrades
You could also make the app free to download in its most basic form, but then offer another option as well.
Girdhar explained in an email interview with Small Business Trends, “You can offer certain special features to the app users if they upgrade to a paid premium version of the app.”
This is a tactic that could be relevant for streaming services, business tools, or anything where you could separate the functionality into different tiers.
Offer In-App Purchases
Girdhar says, “This is similar to the premium upgrade model and lets the users buy access to higher levels (on a game), unlock special features or functionality.”
As Girdhar mentions, this is something that’s especially popular in gaming apps. However, you could also offer it in entertainment, coupon, or photo editing apps.
If you don’t want to make your customers pay anything to use your app, one viable option is to make money through advertisements.
Girdhar explains, “You let people put up ads on your app and get paid on the basis of impressions or clicks.”
This works similarly to advertisements on websites. So it could work for basically any type of app. However, it tends to be especially popular for the apps that are completely free for people to use, like news or media apps.
Similar to advertisements, this option involves finding a partner that you could work with to launch an app.
Girdhar says, “This is when a developer finds a sponsor with similar target market and launches the app on behalf of the Sponsor Company or the brand.”
Make It Easier for Customers to Shop
Even if your app itself doesn’t become a money making entity, it can help your business sell more. For example, if you have an ecommerce business, offering a mobile app could simply make it easier for mobile consumers to complete their purchases. This could increase your revenue overall, especially if you are able to utilize discounts, push notifications or other types of incentives to buy.
Increase Brand Loyalty
When customers have your app downloaded onto their device, it makes it easier for them to come back to your business again and again, and keeps your brand top of mind. So another intangible benefit of having an app is increasing that sense of loyalty between you and your customers.
Build an Entire App-Based Business
If you have a tech service or sharing economy type business, you might even build your entire business model around an app. For example, Uber and Lyft operate basically just as tech companies that connect people with one another. So while customers don’t pay for the actual app, they do pay for the service. And the app is what facilitates all of those purchases.
In this quick tutorial, we’ll cover how to create an Instagram post to promote your business. All it takes is a great image, the right copy, and bold text to get to the finished product. We’ll use a furniture sale as an example, but these steps will work for any imagery and any business.
Pay special attention to the text. You can transform an advertisement with lively text in the right colors, and our online photo editor makes that even easier with tons of options for typefaces, fonts, colors, and the new text templates feature. This feature lets you select from a range of pre-designed templates for headlines, subheadlines, and body text, so all you have to do is change the copy!
Step 1: Set Design Dimensions
In Shutterstock Editor you can change the canvas size in just one click. Head over to the Preset Sizes (P) tab to choose from a few digital media presets.
I’ll choose the Instagram Post preset size at 1080 x 1080 pixels to create my fall furniture sale advertisement. You can also easily customize your dimensions by heading over to the Canvas Size panel and saving your presets.
Step 2: Insert Background
To match the theme of a fall furniture sale, I’m looking for an image of furniture, preferably featuring some fall colors. Use the Search (S) tool to browse Shutterstock’s collection. I found this perfect picture of modern furniture in fall-friendly jade tones.
Hit Replace Background to bring the image onto your canvas. Then move it around or resize it until it’s positioned how you like.
Step 3: Add and Modify Text
Now that I have the perfect picture, it’s time to add the text. Add headlines and subheadlines to your design with the Text (A) tool. Save headlines for the event or promo name, and subheadlines for the details. Remember that larger text is read first, then smaller text follows.
I chose Work Sans for the headline. It’s a modern font that matches the message.
Sticking to the same font for the subheadline, I drag out the text box to make sure the text fits on two, easy-to-read lines.
If you don’t feel like choosing, customizing, and positioning text on your own, you can use the new text templates in Shutterstock Editor. These pre-designed styles take the guesswork out of typography with a variety of templates to fit any type of graphic.
Step 4: Tie Everything Together
Now I just need to put some finishing touches on the design to make sure it looks polished. That can mean adding lines to separate the text, or a transparent overlay to make everything softer. I’ll just change up the font color to match the image and imbue more of the fall tone.
When you’re all set, hit the Download button at the top of the screen to license and download your design.
See what else you can make with our photo editor in these helpful how-to’s…
25 images, one low price
Save time and money with Shutterstock Bundles, our curated image packs.
Planning a wedding is stressful enough without the added horror of finding out one of your vendors is going out of business. But, unfortunately, this is a reality for many brides and their squads in the current economic environment. With the bankruptcy of dress e-tailers like Vow to Be Chic and Weddington Way, it’s no wonder so many bridal parties find themselves second-guessing their dress buying decisions.
Covering topics such as choosing brick and mortar stores and the importance of communication with vendors, experts weigh-in on ways to prevent dress disasters.
1. Keep in Touch
“There may be different situations, but it’s important to stay in touch or check in with your dress shop or retailer periodically even if you have several months between your order and the expected delivery date,” said Author and Money Expert, Brian O’Connell in an article for Experian. “Even large retailers can go under, like Alfred Angelo, which filed bankruptcy and abruptly closed doors in 2017 leaving brides without their wedding gowns and bridesmaid dresses after paying for them.”
While keeping a tight leash on your vendors might seem like an added stresser, O’Connell suggests it well help maintain your peace-of-mind, while also ensuring you are aware of any hiccups along the way.
2. Shop Brick & Mortar
“Buying from reputable local brick & mortar stores instead of big business will always benefit the consumer in the long run,” said Robin Richards, sales and marketing for House of Wu, which has been in the industry for more than 27 years. “Rather than saving a few dollars buying a dress online, you save a lot of time and stress if that online company turns out to be a scam, or if you order the wrong size.”
Opting for a company that has been in the industry for a while has a number of benefits. From established relationships with factories, to a track record of on-time deliveries and top-notch service, buying dresses from a tried-and-true retailer alleviates some of the stress.
Bari Jay has been dressing bridesmaids for over 50 years, racking up some priceless knowledge about the industry and those they serve. “The point is we take the business seriously,” said Bari Jay Co-President, Erica Cohen Rosenfeld. “We are not looking for a business idea or the newest app, or the next industry to revolutionize. We are family businesses many of us, passed down from generation to generation. We know how the business is done, we are not trying to rework the wheel.”
4. Quality of Service
House of Wu’s Richards also points out that the interactions between the customer and the store are important. Local bridal stores will benefit the consumer in a number of ways, including professional sizing, and the ability of the customer to check the standard of materials before purchase.
“Before buying from somewhere online make sure you know the quality of their service,” advises Richards. “This goes beyond the quality of the dresses but their return policies and what they do about defects. The best way to protect yourself is to buy locally rather than online.”
Bari Jay’s Cohen Rosenfeld also notes the importance of how a retailer or brand treats the customer. “Get the service and get the dress right the first time,” said Cohen Rosenfeld. “Dealing with a call center when the dress you ordered doesn’t fit is just a waste of time and energy. Get it right the first time with a local bridal store [where] dresses are made to order in your style, size, and color.”
For those affected by Vow to Be Chic’s closure, the bridal community is banding together to offer discounts and solutions for brides and their squads to ensure the wedding goes on, dresses and all. Some of the industry’s top retailers are offering the below discounts:
DessyThe designer is offering a coupon code for abandoned VTBC customers of 15% off, plus free shipping for a limited time. Code: DGVTBC15
Bella BridesmaidsBella is offering 10% off for Vow customers between now and September 1. The company is also taking over all four styles of Vow To Be Chic’s partnership with Monique Lhuillier. (They include the Rachel, the Mindy, the Kelsea and the Cara.) Please mention Vow when placing your order. Shop here or dial the help desk line: 1-312-339-6025.
BridesideBrideside is offering a discount to affected brides and bridesmaids. Shop online or call Brideside’s dedicated phone line to connect with a stylist directly at 1-866-202-6302.
Bed Bath & Beyond uses its famous $5 and 20% off coupons to get customers in the store.
That strategy has apparently become less effective recently as customers are starting to care less about the coupons, according to a survey by Morgan Stanley. Walmart and Amazon are poised to pick up Bed Bath & Beyond’s slack.
CVS is so notorious for its comically-long receipts that they have appeared everywhere from Jimmy Kimmel Live to internet memes and Halloween costumes.
As a result, CVS gave customers the option to opt out of coupon-heavy paper receipts in 2016.
But when Business Insider talked to CVS employees from around the country to see if anyone still uses the comically-long receipts, they said that many loyal customers still love and use them.
The heavy fragrance of citrus bloom hung outside the Hilton Park hotel in Nicosia, Cyprus, where about 100 small-business owners, attorneys, accounting professionals, and their partners loaded into the ballroom to mark the Chinese New Year. Visitors were dealt with to a fan dance and an efficiency by drummers outfitted in red silk outfits.
But the significance went far beyond commemorating the Year of the Dog &#x 2019; s arrival: This had to do with sealing a blossoming relationship in between 2 not likely partners.
One is an progressively
0; assertive worldwide powerhouse of 1.4 billion individuals, the other an island country of 1.2 million that boasts a tactical area and a credibility for a no-questions-asked technique to monetary affairs. That produces an engaging match as China looks for to broaden its footprint inside the European Union.
&#x 201C; We have financial investments ideal throughout all sectors of the economy, &#x 201D; Christodoulos Angastiniotis, president of the Cyprus Chamber of Commerce and Industry , stated prior to signing up with the other visitors to hear speeches proclaiming the exceptional state of China-Cyprus relations. He stated there were &#x 201C; some extremely fascinating funds &#x 201D; from China, tempted by an &#x 201C; appealing tax system. &#x 201D;
As U.S. President Donald Trump develops barriers to Chinese trade , Cyprus is tossing open evictions. The Mediterranean nation &#x 2019; s position is likewise at chances with those of a few of the EU &#x 2019; s larger economies, which, alarmed by China &#x 2019; s hunger for acquisitions, have actually ended up being more assertive in vetting offers. It might be a case of insufficient, far too late: China is currently deeply ingrained in Europe, owning whatever from ports in Spain, Greece, and Belgium to a German airport , stakes in North Sea oil well, and soccer clubs in England and Italy.
Such is the problem facing federal governments around the world as they weigh the concern of the best ways to handle China &#x 2019; s growing influence. Couple of nations can pay for to avoid financial investment from China &#x 2019; s $11 trillion state-run economy, specifically one such as Cyprus, whose per capita gdp, at $27,000, is a little over half that of Germany.
It might not be right away noticeable, however Chinese loan is all over in Cyprus, from property to shipping, monetary services, tourist, and renewable resource. The only exceptions might be olive oil and halloumi cheese, though these are now being exported to China.
At the occasion in Nicosia, Chinese Ambassador Huang Xingyuan mentioned the &#x 201C; big possible &#x 201D; provided by China &#x 2019; s Belt and Road effort to double bilateral trade to more than $1 billion &#x 2014; comparable to about 5 percent of Cyprus &#x 2019; s yearly financial output.
Writing in the at the end of March, Ambassador Huang put all this activity securely in the orbit of the Belt and Road effort, mentioning the financial chances it opens to all &#x 201C; no matter their size and wealth. &#x 201D;
Standing at the crossroads of Europe, Africa, and the Middle East, Cyprus has actually fallen under Greek, Byzantine, Ottoman, and British impact through the centuries. More just recently, it ended up being the location of option for Russian loan prior to catching the European financial obligation crisis that required the Cypriot federal government to take a worldwide bailout in 2013. The economy has yet to go back to its size prior to the crisis.
Part of Cyprus &#x 2019; s pitch is that the island has a European legal and institutional structure that &#x 2019; s familiar to Chinese financiers from Hong Kong, states Christos Scordis, a partner at Scordis, Papapetrou &&Co., whose customers consist of Melco. It likewise has that geographical benefit. &#x 201C; Cyprus is the very first European port as you leave the Suez Canal and go into European waters, making use of the distance of the Middle East, &#x 201D; states Scordis, who just recently arranged a workshop in Beijing on doing service in Cyprus. &#x 201C; China has the tendency to see Cyprus as an entrance. &#x 201D;
One individual &#x 2019; s entrance is another &#x 2019; s backdoor, inning accordance with reports in current months on the nature of China &#x 2019; s participation in Europe. The most detailed, called , by the European Council on Foreign Relations (ECFR), asserted that Beijing is attempting to divide the EU to enhance its interests. China &#x 201C; took the chance of the euro crisis for huge takeovers in southern Europe, &#x 201D; where the economies were most damaged, it stated.
&#x 201C; We see an increasing Chinese interest in Europe, and there &#x 2019; s a conversation amongst European leaders &#x 2014; things are white and not black, &#x 201D; Danish Prime Minister Lars Lokke Rasmussen stated in a Bloomberg Television interview previously this year. &#x 201C; We likewise need to secure ourselves to some degree. &#x 201D;
German Chancellor Angela Merkel and French President Emmanuel Macron are taking the lead on dealing with China &#x 2019; s tries to make the most of Europe &#x 2019; s open economy while it preserves barriers to foreign financial investment in the house. They back EU transfers to tighten up screening of outdoors Chinese financial investments.
The wake-up call for Germany was the $4.5 billion acquisition of robotic maker Kuka AG by China &#x 2019; s Midea Group Co. in 2016. More just recently, Chinese billionaire Li Shufu &#x 2019; s purchase of a $9 billion stake in Mercedes-Benz moms and dad Daimler AG has actually stired
0; federal government issues that the balance of nationwide interests versus those of outside financiers is weighted in China &#x 2019; s prefer.
Berlin is confronted with China getting its hands on &#x 201C; the gems in the crown of German market, &#x 201D; states Fran 7; ois Godement, the Paris-based director of the Asia program at the report and the ecfr &#x 2019; s lead author. The threat for smaller sized EU economies such as Cyprus &#x 201C; is more about real impact and lobbying instead of reliance. &#x 201D;
Cyprus &#x 2019; s ally Greece has actually currently rotated to China, which purchased the nation &#x 2019; s federal government bonds throughout the Greek financial obligation crisis. In the last few years, Chinese financiers have actually obtained control of the port of Piraeus, in addition to a significant stake in the nationwide power grid. In 2015, Greece obstructed an EU declaration at the United Nations that was vital of human rights in China.
Lying nearby to Turkey, Lebanon, Syria and Israel, there &#x 2019; s long experience in Cyprus of being on the cutting edge of geopolitical power plays.
Turkish forces got into the northern part of the island in 1974, and UN soldiers still patrol the buffer zone that bisects the nation. Later on it was Russians running away the Soviet Union who started showing up in numbers, drawn by the sun, the taxes, and, consequently, the possibility to obtain an EU passport in exchange for a financial investment of 2 million euros in a Cypriot service or realty.
The very same pledge is now showing popular with rich Chinese. While simply a couple of hundred strong, the recently established Chinese neighborhood in Cyprus is making its existence felt on an island that takes hardly 2 hours to pass through by cars and truck. A lot of those showing up have actually settled in Paphos, where Greek legend has it that Aphrodite emerged from the sea. On the seaside roadway, over the top rental properties inhabit the hills neglecting the city. Signboards marketing prime residential or commercial property stud the highway, in English, Russian &#x 2014; and now Chinese.
Panicos Kaouris, president of the Cyprus China Business Association, shakes off issues that the one-time British area might end up ending up being a customer state of China. Cyprus is open and little, and its individuals are survivors, so why not invite the new age and make some cash along the method? &#x 201C; There &#x 2019; s an ocean of financial investments from China, &#x 201D; he states. &#x 201C; We would be drowned with simply a drop of that. &#x 201D;