I have just spent the last 2 weeks immersed in the world of Apple and its’ apps on behalf of a client and have found some simply staggering results. The pace at which the app market has exploded has undoubtedly taken the technology world by storm, within the 2 and a half weeks I have been actively researching the market the number of apps within the store has grown from 85,000 to over 100,000.
Obviously not all of these applications are going to be top quality, and without doubt many of them are free and pointless but the sheer volume of them suggests that there is profit to be made within the industry. Having done case studies and detailed research into many apps it has become clear that the majority of creators and sellers are very small businesses who have little if any means of mass marketing and PR, this suggests that when bigger companies do put resources behind apps the consumers spend freely on purchasing the new ‘must have’ app. At the moment few big corporations have mass produced or promoted apps but with the news that Smule, creators of the popular ‘I am T-Pain’ app, have garnered a $3 million profit on their product we suspect more companies will be further flooding the market shortly.
It has also come to our attention that not many companies are significantly monitoring and tracking the usage and marketing of apps and it is an area that MarketEvolution are now going to further specialise in, the industry is fast growing and quickly developing and we believe the lack of consumer insight in this area is something that we need to change.