Report: Monetizing Apps is Hard Work With More Than 80% Going for Free

App storefronts are going mainstream and now must adapt to consumer preferences and buying habits, much like traditional marketplaces have long since done. A key difference for app marketplaces though, is most transactions are free, requiring added attention to detail for the few transactions that generate actual revenue. In order to monetize their apps, developers need to ensure their product is of high quality, offers demonstrable value, and is stable and user friendly , according to a new research report from Strategy Analytics.

In its latest research on the topic, Strategy Analytics found that consumers visit a mobile app store a few times a week, with most visiting to search for updates, to check to see featured and top apps, or to see if any new mobile apps have been released.

What mobile app consumers don't want are apps that are slow, cause system glitches, or that run too many advertisements and send spam, according to the Boston-based market research firm.

 "Consumers pay for less than 10% of the total number of applications they have downloaded, with over 80% of all applications downloaded being free," commented Taryn Tulay, an analyst in the Strategy Analytics Wireless Media Lab (WML). "For apps to hold any monetary value to the consumer, apps must be unique, of good quality and used by the consumer on a daily basis - providing them with a service or feature that they cannot get anywhere else."

Looking at app store attributes, Strategy Analytics found that survey respondents rated ease of finding mobile apps most important, followed by good availability of free applications.

"With most consumers visiting a mobile application store multiple times per week, it is important for app stores to make discoverability of apps as straightforward as possible for the consumer due to the increasing number of mobile applications available," added Paul Brown, a director in Strategy Analytics' User Experience Practice.

Written by Kevin Kutcher at 10:57
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