According to the Statista, an online statistics, market research and business intelligence portal, there were 2.1 million apps available to Android users and another 2 million in Apple’s App Store as of the third quarter of 2018. That being said, just how many of those apps have you actually heard about?
These numbers only drive home the lesson that just because you create the best app in the world (says you), people aren’t necessarily going to flock to download it. Today’s mobile app development market grows increasingly crowded. By 2020, the app industry’s revenue is projected to reach $188.9 billion worldwide. At this growth rate, it might seem almost impossible to be noticed.
The Manifest, a business news and how-to website that compiles and analyzes practical business wisdom for innovators, entrepreneurs, and small business owners, surveyed 301 companies to discover how businesses market their apps, how much they spend, and how they measure success.
The survey findings indicated that App developers are most likely to dedicate their ad spending to mobile platforms to reach consumers as they use their smartphones and tablets. Marketing is a key part of establishing an app with 35% of companies saying they dedicate 31% to 50% of their total app development budget to promotional activities.
Meanwhile, BuzzFeed estimated digital ad fraud will cost at least three times that of an earlier report put out by Juniper Research.