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App Ideas to Make Money - The Proven Method 2022

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App Masters10:24Open on YouTube
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The bottom line

A winning app idea is one that already earns money, and you beat it by fixing what its users complain about. Proven demand lowers the risk of building an app nobody pays for.

Key takeaways

  • Apps that copy existing ideas can still earn serious money. 1:07
    • One client app made about $200,000 from 20,000 downloads in a single month, roughly $2.4 million a year.
    • The examples span games, entertainment and productivity, so the method is not tied to one category.
  • The top-grossing chart, one category down, shows where the money is. 4:10
    • The overall chart is full of big brands, so go into a single category such as health and fitness.
    • Four of the top 100 health and fitness apps are fasting apps, and they mostly just run a timer.
  • Check a competitor's revenue before you commit to the idea. 6:36
    • Sensor Tower showed Body Fast at over $400,000 a month.
    • The bar for pursuing an idea is about $80,000 a month, which is roughly $1 million a year.
  • Competitor reviews tell you what to build and what to fix. 7:43
    • Critical reviews show the features to improve, and favorable reviews show the features you must keep.
    • Reading reviews works the same way for every competitor in the chart.
  • The same review language can sharpen your app store screenshots. 8:56
    • Use the words users love in your screenshots, and call out what they hate about competitors by saying you don't do it.

If you're trying to create a brand new market, good luck. That is the hardest thing to do.

Steve P. Young

Chapter summaries

0:00 Proof the method works

Small apps that copy a crowded idea can reach tens of thousands of dollars a month.

  • A word game in a crowded niche earns about $30,000 a month. 1:40
    • It gets over 50,000 downloads a month and launched in 2018.
    • Many apps do nearly the same thing, so the idea isn't new.
    • Steady updates keep driving its revenue.
    • The client was working with Steve P. Young's team recently.
  • A small copycat still makes a profitable business. 2:20
    • It makes $10,000 to $12,000 a month from only 6,000 downloads.
    • The owner says he found a winning idea with the method, then made something similar.
    • Sensor Tower reports less revenue than the app really earns.
    • Monthly recurring revenue means fewer updates and steady income.

3:35 Step one: find ideas in the top charts

A free App Annie account shows where the money is in the biggest app market.

  • Start with the US top-grossing chart. 3:35
    • Sign up for App Annie for free and open the top charts.
    • The US is the biggest app market, so it is the one to watch.
    • Revenue shows whether there is room to take a slice of the pie.
    • Anyone with an idea already can skip ahead to step two and validate it.
    • The chart can be set to a past date, but the demo uses today.
  • Any category works once you filter by grossing. 4:51
    • Health and fitness is the example, picked because it has apps doing well.
    • Switch from "all" to the grossing filter.
    • Free, paid and all can also be viewed.
    • Steve P. Young picked it after covering an intermittent fasting app, which he follows himself.

5:12 Find the niche through its title keyword

Apps in one niche carry the niche keyword in their title, so a keyword search shows how many rivals chase the same job.

  • A keyword search shows how crowded a niche is. 5:19
    • Putting the main keyword in the app title is an ASO trick worth using.
    • Searching "fasting" shows Fast Stick at 16, Simple at 26, Zero at 70 and Body Fast at 81.
    • These apps do one thing, fasting, and nothing else like working out.
    • Most of them are a timer. The speaker uses Zero, taps one button to start a fast and another to end it, and the app keeps his stats.

6:15 Size the market from a competitor's revenue

Take the closest competitor and read its revenue before you commit to the idea.

  • A competitor's revenue shows whether the niche pays. 6:15
    • If you think nobody does what you do, there may be no market to enter.
    • On iOS, Zero earns $100,000 to $200,000 by day, more than Body Fast.
    • iOS is the platform to check because it shows the higher revenue numbers.
    • Zero grew its user base first and turned on monetization only about six months to a year ago.

7:43 Mine reviews for features and screenshot copy

A leader's reviews show what to build, and the same wording makes your store page convert better.

  • Reviews of the market leader give you a feature list. 7:47
    • Chad Maretta described this strategy in his book App Empire about 10 years ago, and it still works.
    • Zero's reviews praise its notifications but complain about glitches.
    • You can filter the reviews by country.
    • Repeat the check on each fasting app in the top 100.
  • Two tools are enough to validate an idea. 9:20
    • They show whether a market exists and how you can improve on what rivals do.
    • The tools are Sensor Tower and App Annie.

In the growth library

Steve P. Young, Founder of App Masters. A free, two-tool process for finding app ideas that already make money and validating your own idea by studying top-grossing competitors and their reviews. Clients who copied proven ideas this way reached $10K to $200K a month in revenue.

More from App Masters · The whole library, and ask it anything

Transcript213 lines
0:00

Coming up, I'm going to show you a simple proven strategy to find winning app ideas and to also validate your own app idea, stay tuned. What is up nation> It is Steve P. Young founder of Appmasters.com The place you go when you want action packed content related to helping you grow your downloads and your revenues. And in this video show you a simple process using all free tools to help you find successful winning app ideas.

0:31

And if you're kind of figuring out, Hey, is this a good app idea or not help you validate and make sure there's a market for your own app idea. Now, before I show you the strategy, I want to show you the proof. All right. Here are some clients that I've personally worked with that have used this particular strategy to grow to millions of dollars a year. Here's a friend and a client past client of mine that used this same exact strategy.

1:00

And I blurred out the app name obviously, but look at his most recent numbers, according to sensor tower. 20 K downloads and $200,000 of revenue in just one month. All right. That's $2.4 million a year. Here's more information about the app, as you can see, I've blurred out the support URL as well, the categories and entertainment, and he launched in 2019. So not. Back in the day, back in the heydays of the app store in 2011, 2013, when I first got started one recently, so he launched the app more recently and was able to generate a lot of money within the app.

1:40

There's another app that we've just recently worked with actually, and they generate over 50,000 downloads and 30,000 in revenue. In the most recent month. So really, really successful app right now. Now let's take a look at their category and you can see this is under games, word entertainment as well, launch in 2018. So not too recent, they've been updating the app a lot and really driving revenues within the app. Again, this isn't a brand new idea for this app.

2:09

I've gotten take a look at it. There's lots of apps out there that do the same, pretty much the same exact thing, but he's able to make $30,000 a month. Deploying this particular strategy. And here's the last app that we work with. Now. I know the revenue numbers there, central towers reporting a little bit underneath what he's actually doing, but he's over 10 K a month already doing this and he's generating 6,000 downloads.

2:35

A month, but generally over 12 over, I would say not well over, but in the mid 10 to $12,000 a month range for this particular particular app. And he told me this, I just use that strategy, right? It's a pretty well known strategy that I've shared in the past, but he's like, look, I just use that strategy to find winning app ideas. And then I made something similar and he's able to make a very profitable app business.

2:57

And this is monthly recurring revenue and the beauty. Of the apps with monthly recurring revenue is that you don't need to update as much. You're always going to get consistent revenue month in and month out. And lastly, here he is when he launched, he launched at the end of 2018. So pretty recent and he's in the utilities productivity category. Now I want to make sure you caught that. We covered entertainment. We have games and words, and now we have utility and productivity.

3:27

So it works for any category that you might be trying to focus in on. And it's a proven method now, shall we get to the strategy? All right. The first thing you're going to do is sign up for an app. Any account, go to app annie.com. It's completely free to sign up. And then after you log in, what you're going to come into is. The top charts section. Now, if you already have an app idea and you're just like, Hey, I want to validate it.

3:49

I'll show you. You can skip ahead to step two, but for step one, you want to find winning app ideas. Here's where you go. You go to app Annie first. Okay. You're in the top charts. Now you have all categories and this is in the U S. Because it's going to be the biggest app market. And this is for a particular day that we're looking at it. So you're actually going to just, you want to go all the way back. You can do that, but I'm looking at today.

4:10

And the category that we want to look at is the top grossing. Cause that's where we're trying to figure out, Hey, is there enough revenue that I can take a slice of the pie and generate my own income from it? And so here is the top grossing apps within all of the app store. Now these are some very popular apps out there, some really brand names that you probably already know of. And so you don't want to focus too much on this overall category.

4:36

Here's what you want to do. You want to go one category deeper so you can go to entertainment if you want, you can go to health and fitness. So I'm just going to pick health and fitness because I know there's a category app of apps that are doing particularly well. We're going to go into the top grossing. So I'm just going to filter by grossing right now, instead of all. We can see free paid and all that stuff. All right.

4:57

This is where we really want to focus in on. So you can pick whatever category you want and it works. Like I showed you with the examples works for all categories, but I'm just going to pick health and fitness because we highlight in an app a few months ago, talking about intermittent fasting, which is what I do and how they were making tons of money. And so here's what I'm going to show you real quick. Now I'm going to search for fasting and ASO trick that you want to really.

5:23

Utilize is having the main keyword in your app title. And so that's why I quite fascinating. Right? I know these apps are probably going to have fasting in their app title. So we have fast stick, right? We have, we have simple at 26 fast stick was 16. We have zero at 70. We have body fast at 81. So that's four apps out of the top 100 that are focused just on fasting, you know, not working out, not anything else. If you know anything about these apps, all they really do is put a timer.

5:54

Now I personally use zero and I love it, but it is a timer. I like to hit that button when I started a fast. And I like to hit that button when it ends a fast and keeps track of all my stats and such. So let's pick one of these apps. So I'm going to pick body fast. You're like, Oh, that's interesting. There's four apps. Let me just take a look at one of them and that's all you have to do. So I'm going to sensor tar. So the next step, and this is a step.

6:15

If you have an app idea and you found a competitor, the closest competitor. Now, if you're already thinking nobody does what I do, Steve, then. Look, I'm not sure if there's a market. If you're trying to create a brand new market, good luck. That is the hardest thing to do. All right. But if you found something that's a competitor of yours. So what you want to do is go into sensor tower. Now I already have body fast intermittent fasting up and they are making over $400,000 a month.

6:44

Now I generally look at 80,000 because that's about a million dollars. A year as the number that I want to aim for an app to have to see if I should start pursuing this app idea before a hundred thousand, that's a lot of money. Right? And so what we want to do is if you let's say you were like, Hey, I want to look up zero and you want to look up those revenue numbers. Let's do that. So I'll just type in zero pick iOS because that's going to have a higher revenue number.

7:10

They're making a hundred thousand and 200 K. Now you can see zeros higher than the body fast, but this is by day. All right. So this is by day zeros starting to climb up and they haven't been monetizing as early. They just actually, because I use the app, I think it was six months ago, maybe a year ago. That's when they actually turned on monetization. So they grew a huge amount of user base and then they started monetizing, but here enough revenue.

7:37

And you can check out the apps to see, well, intermittent fasting. Now I can build something similar and take a piece of the pie. Right? The next thing, and the last thing you want to do is actually look at the app store reviews. So shout out to Chad Maretta who wrote about this in his app empire book, about 10 years ago, the strategy still works and I'm just going to pick on zero for now because I do love the app a lot.

7:59

So I'm going to click into zero. Into zero app and then look at the reviews. And then what you really want to do is look at both category reviews. You want to look at the critical reviews because they're going to tell you what features you need approve upon. Right. And I would probably do that for the faceting apps that you just saw on the top 100, right. Notifications. Great. Except for glitches. So you can start reading through and seeing what common themes develop that you, or a feature that you can build within your app.

8:31

The next thing you want to do is also look at the favorable. So here's some features that you definitely want within your app, right? So read through these, you can filter with different countries. You can do all that stuff, but read through them. So yet you understand what features their customers like and what they don't like. And what I generally do from that knowledge is actually use some of that verbiage in my screenshots.

8:56

So for example, for one of our clients, what we did was. We looked at all the apps store reviews. Here's what their user loved the most. So we used the same type of words in our screenshots. And then I looked at the competitors. Here's what they hated about the app the most. And so what we did was, Hey, we don't do this. And we put that into the screenshots as well. So it's a little trick that I like to use to think about how to optimize screenshots for better conversions.

9:20

I guess that's it a super simple method, just using really two tools to figure out if one define winning successful, hugely successful app ideas and to, to validate your own app idea, to make sure there's one, a market for it. And two, how you can improve on it and really study what your competitors are doing. All right. If you like this video, you know what to do, give me that thumbs up, man. It makes me feel good. And if you're enjoying the channel.

9:47

Do me a favor, share with a friend, leave a comment below, do something so that I know somebody out there watching this thing. And lastly, if you're interested in some of our ASO strategies, while I recommend checking out ASO masters, we're going to do. Unlimited ASO for either one of your apps or all of your apps. We've seen some really great traction and a lot of these clients where our ASO masters clients do. So we've seen some really great traction and now I recommend you check it out.

10:13

It is ASOmasters.com. If you want to work together or you can check out our Homepage appmasters.com. All right, guys, until next time, I'll see you on the next video.