More research on monetization
As I read through the Business Deck that Appsketiers provided, I believe a way to monetize the app is through advertising. It looks as though 3 types of ads would be the best: banner ads, interstitials and video ads. I don’t want to inundate the user with advertising, so I think 2 of the 3 would be best. As I go through TripAdvisor and Realtor.com they seem to utilize video ads. I believe interstitals are the ads that kick off YouTube videos. Banner ads are the most common ads used, so I think it will come down to either banner ads and either intersitial or banner ads and video.
Another strategy is to simply acquire users. This would be the most pure. The reference in the Business Deck is to WhatsA
pp and Instagram. Neither had a revenue model, simply users. WhatsApp was acquired for $19 billion and Instagram was acquired for $1 billion. Wow! I would like to spend a little more time learning how many people ran and operated the app before acquisition. My hope is to acquire a significant user base. One of the in-house features is sharing and the hope is that user base grows organically from in house sharing. If each user was to share with 1 or 2 friends, this has the potential to grow exponentially. Wouldn’t that be amazing!
Another way to gain interest and users is through interest on the website. I have created a section within the website to have subscribers. The idea is to get emails and spark interest in the app. Once you have emails you can send out teasers until launch. Hopefully these emails are shared, and anticipation is created upon launch.