In today’s technological world, mobile is the leading cause of success. When mobiles were created, the only purpose they served was to bridge the communication gap but now, mobiles are known as the source of communication, learning, provision, and most importantly success. It is important to acknowledge the fact that how far a single device has revolutionized in time to make our lives better in terms of success.
It is evident through time how far mobiles have made our lives easier to connect with customers in building a desirable business model and generating a handsome revenue. If we look at the number of worldly smartphone subscriptions which is 6 million and is likely to exceed more than this in the upcoming years, we can surely expect more success. There are a variety of types of mobile business models today to scale our revenues some of which include pop-up businesses, app businesses, in-home mobile service businesses, mobile gaming businesses, etc.
In this article, we will explore some business models that proved mobile to be the best field of success in today’s fast-paced world.
Mobile gaming is a monetization strategy used by mobile application developers through which they can generate revenue in multiple ways. It can be done by charging users for one-time free access, in-app purchases, or by viewing ads. Taking a trip back two years prior, mobile-focused business models were cashing in more than 40 billion USD. Additionally, big-name games like Candy Crush have found great success in the mobile gaming department.
Not only this, but today mobile casinos have also joined the trend of revolution in mobile gaming, offering a wide range of games that can be played on smartphones and tablets easily and generate some healthy bucks. These mobile casino games have gained popularity in a very short time and they can be played anywhere, anytime offering peace of mind. The goal of any mobile business model is not only to make money but also to provide unique services. The example of online casinos, for instance, showcases the evolution of casino gaming, where digital platforms catapulted old and famous gambling from physical locations to mobile screens.
It’s almost impossible not to bring e-commerce into the conversation when talking about mobile-based business models. After COVID-19, most of the world changed its approach to buying and selling. Now, everything has shifted to being virtual. COVID has given people an insight to look into their smartphones as a business model of e-commerce and start finding success through it.
E-commerce spaces include Amazon and Alibaba, which are some of the top picks for consumers today. These platforms offer great, user-friendly apps that enable customers to make purchases from their devices. Additionally, other websites like Shopify and Etsy also exist, where users can shop and sell products online. This has enabled an influx of revenue from e-commerce places.
Metaphorically speaking, it is a hard nut to crack the reality of the emotional connection that we have built with these applications in recent years. These applications have become a part of our daily routine in such a way that through these we connect and discover valuable (but not always) content.
Today, the business world is using social media to reach out to their customers, but in the meantime, many people use social media as a business. Among a few common business models that make use of this space are social media marketing, influencer, and email marketing. Social media can be used as a platform to reach our target audience to connect with people and deliver our strategy to make money in the 21st Century.
Success through mobiles is not only limited to e-commerce, gaming, and social media but also covers the health and fitness sector. Today people are more concerned about their diet, lifestyle, and sleep patterns which urges them to keep using phone applications like Fitbit and MyFitnessPal. These applications keep a record of their daily diet plans, workouts, and sleep patterns.
These applications work on in-app purchase methodology and the app developer gets paid for every installation. The success rate for this business model is very high and is expected to get higher in the upcoming years as more people are seeking a healthier lifestyle.
The learning sector is where people like to invest the most no matter where they live. With the development in science and technology, it is easier to say that mobile learning applications like Duolingo and Khan Academy have changed the trend and people can easily access their desired educational courses anywhere and anytime.
Mobile learning apps offer various features tailored to meet every student’s unique needs. The most important and notable thing about learning applications is the flexibility offered to learn at your own pace and schedule. Today, technology has revolutionized the world in such a way that just with a phone you can save time, energy, and most importantly, money.