The mobile app industry is robust and growing every day, but app revenue estimates still play an important role for businesses looking to make strategic decisions based on market conditions. There is a lot of value in predicting download and revenue estimates during the mobile app development process. It is also valuable to view your competitor’s apps and see revenue estimates for them as well.
In this post, we will explain why app revenue estimates are important for businesses to pay attention to. We will also highlight some of the best data tools for estimating app revenue, downloads, and more.
The Importance of App Revenue Estimates
If your business wants to build a mobile app, reviewing accurate revenue estimates from similar mobile apps can be valuable. These estimates will help you determine if your app idea is viable, if you need to rethink your product design, and what the broader market conditions look like. Studying your competitors can help give you a competitive edge in user retention as well.
If you know what types of mobile apps and features your target users interact with the most, you can design your mobile app to give them everything they want. In addition, studying the revenue estimates of successful apps similar to your own will help you determine which business model is the right approach for your mobile app.
Some mobile apps make more money as freemium apps that are free to download but encourage users to make in-app purchases. For other types of apps, users might be turned off by the freemium model, and you might find that a monthly or annual subscription model is more successful. Still, there are other times when your mobile app will have the most success if it is something that users have to pay for one time.
Trying to determine which business model best fits your mobile app without reviewing revenue estimates is leaving the future success of your app up to chance.
Another reason why app revenue estimates are important is that they can help you forecast your future successes or failures. For example, based on the user data from your app, intelligent analytic platforms can show you what user acquisition targets you need to hit to reach certain revenue goals.
You can also use revenue data to evaluate your overall app performance. Perhaps the data shows that app revenue is stagnating or, even worse, declining. This data can be used to help you make new product decisions, such as adjusting the price of in-app purchases or updating your mobile app with new features to re-engage users.
Total annual global app revenue is in the hundreds of billions of dollars, and this figure only climbs every year that passes. Therefore, mobile apps are capable of generating significant amounts of revenue. However, suppose your mobile app struggles to generate revenue or fails to reach your business’s revenue goals. In that case, you need to analyze your app, the competition, and the broader market to determine what is holding you back.
Luckily, several great tools can help your business do just that.
The Top App Intelligence Tools
App intelligence tools were designed to help businesses take control of their mobile app, review market conditions on the App Store and Google Play Store, analyze the competition, forecast revenue estimates, and so much more.
We can’t cover every single intelligence tool available, but we will review some of the top choices available to businesses today. If you’re interested in the download and revenue estimates of your competition, how your apps perform by device and country, and more, the top tools for the job are:
- Sensor Tower
- App Annie
Sensor Tower is one of the most robust mobile app intelligence tools available on the market. There is very little that this platform cannot do when it comes to mobile app performance analysis. Not only can users view download and revenue estimates for any mobile app, but they can also compare apps against one another across countries, devices, and more.
With Sensor Tower’s mobile app comparisons, you can see what types of apps are gaining popularity, which ones are fading into irrelevance, and which mobile apps remain popular throughout. You can also use this platform to analyze how your competition acquires users by seeing which publishers spend the most on advertising and which platforms they spend their money advertising on.
There are also in-depth demographic features that visually display the demographic composition of any application. You can use this feature to determine what your target audience looks like and plan strategic partnerships based on your users’ interests.
Sensor Tower has many more features than the ones we have covered here. Certain parts of Sensor Tower can be used for free if you sign up on their website, but to unlock the full potential of this platform for your business, you will have to pay a subscription fee. Currently, there is no pricing information available. You will have to contact Sensor Tower for a custom quote.
App Annie offers an intelligence tool that developers can use through the entire lifecycle of their mobile app. For businesses starting to think about building a mobile app, this platform helps them identify their competition and which markets are growing most rapidly. App Annie also includes ad analysis so users can see which of their competitors’ ads were the most successful.
The key feature of this platform is monetization analysis and revenue estimates of your competition. By analyzing your competitors’ monetization strategies, you can see what strategies work on your target market and which don’t, and you will have the revenue estimates to back up the data.
App Annie also does not share their pricing information, so you need to contact them to get more details about how much this intelligence platform will cost your business.
Apptopia gives businesses a complete overview of the mobile app market. The main feature of this platform is the performance analysis of mobile apps. This includes almost everything you would want to know about a specific mobile app or the broader sector in general. In addition, Apptopia allows users to view in-app purchase revenue, downloads, daily and monthly users, app store ranking, and more.
If you have ever wanted to spy on your competition, this platform provides all the information you need to gain an advantage over your competitors. In addition, Apptopia offers several different pricing plans. You can visit their website to learn more about their offerings.
App revenue estimates can provide your business with valuable insights into your market, competition, users, and even your own mobile app. If you need assistance developing a mobile app or choosing the best app intelligence tool for your business, reach out to an app development partner. A partner can help you make sense of app revenue estimates and extract valuable insights from them for your business.