Ever since the phenomena of Facebook and Twitter, and the emergence of vast (and I mean vast) amounts of apps, the mobile space has been swamped with entrepreneurs launching endless freemium platforms and creating the next Angry Birds. The result – a lot of freemium bankruptcies and very angry looking buzzards amazed that their “me too” app, game or widget didn’t take off.
So what is making money in mobile?
Unfortunately, many have forgotten the obvious: fulfilling an immediate need or adding a little convenience to the users’ life goes a long way. Check out Masabi – mobile ticketing for trains – absolutely great if you’re in a hurry, don’t have access to a computer or simply don’t want to queue.
Behind the idea is a tight business model with a clear intention to generate cash – not waiting and hoping that the idea will generate a massive consumer following and then see what happens. I recommend reading some of Alex Osterwalder’s book on business models for some useful insights (he’ll be speaking at Business of Software, don’t you know?).
The other magic ingredient seems to be to have a great user experience and make the experience mobile specific (see previous blog post). Mobiles have small screens and we use them on the go, so tonnes of irrelevant information, an overcomplicated interface and more than 5 thumb strokes to get something done are just going to put people off. Have a look at Ribot’s Threedom phone, an inspired piece of simple design that’s super easy to use.
One thing is for sure – there is money to be made in mobile, whether you are in the mobile sector or looking to use mobile technologies to extend your current business. You can learn more from the line-up of awesome speakers at the BLN Money in Mobile Forum, 14th June, Taylor Wessing’s HQ, London. And remember, the early bird discount finishes at the end of April!