Thoughts on Reskinning and Scaling: I talk to a lot of people in the app space, specifically indie app entrepreneurs like you guys. Heres what typically happens: - Learn about business - Buy source code - Reskin it - Repeat - Some do very well, others dont - Business starts to grow - Immediately think about how to repeat the above process This can be effective and a lot of people are using this to make money right now. BUT, its not the only way. In the past few months Ive seen a lot of people taking a step back and relying less on the launch and more on the users. With Apples store and algorithm constantly bugging out, a lot of people find themselves in a tough spot because they look at the launch as the most important thing in the world. Always be launching is a tough way to run a business. The thing is....there are a lot of other pieces that are JUST as effective as the launch. In this post, I want to talk about updates. With my own portfolio, one thing we do is get really deep on the analytics to identify the winners. Sometimes its reskin #3 of a source code, sometimes its #1. But every two weeks we find the best apps in the portfolio. Specifically, we find the best USERS (people who are spending $$$). In marketing, youll make 10x from your best users than you will off your prospects. Thats how it goes. The whole 80/20 thing that everyone talks about is true - a small demographic can give you massive upside if you treat them well. What I find is that reskinning is MOST effective when you build in a targeted update strategy to your game plan. You need to keep pushing out apps, but you also need to make the apps better over the long term for continued success. Heres what that looks like (using example above): - Learn about business - Buy source code - Reskin it - Repeat - After you have 4-5 apps out, you start looking at your reporting (revenue, downloads, retention, reviews, everything else) - You pick your #1 app and create a targeted update strategy based on reviews and general best practices (add new levels, change payouts, include new photo filters). - You have your team SPLIT time build new apps and updating the winner in your portfolio - When you 4-5 more, you do this again. If its the same app thats killing it, keep updating. If its a new one, now youre updating 2 apps. - Reskin 4-5 more apps - etc This is a way to blend reskinning with hardcore business/marketing fundamentals. UPDATES WORK. Trust me - they are a wildly underutilized strategy right now, especially on source codes. Imagine how dope of an app you could make if you start with a source code, then spend 6 months figuring out how to make it 5x better? You get to listen to your customers, give them what they want, and they reward you. In summary, if youre looking for a way to scale your business, you may find a bigger ROI by focusing on the winners you already have as opposed to trying to shoot more bullets with new purchases. Buying new source codes and reskinning is a terrific way to get STARTED, and it can absolutely scale...Im just telling you this because its a really powerful way to build your company without spending more and more $$$. This may seem counter intuitive because I sell source codes, but Id rather have you buy less from me and be more successful over the long term so that you can grow your business. Source code gets you in the game, updates help you stay there. Hope this helps you guys! Happy Monday. Carter
Posted on: Mon, 28 Jul 2014 19:22:07 +0000
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