When you read about marketing and business development, you’ll read a lot of acronyms. One that’s not as common but that is perhaps the most important is LTV. LTV stands for “lifetime value.” By offering your customers lifetime value for your products, you can earn their loyalty and repeat business. In the process, you earn a reputation for quality products and service, helping you to gain the business of other customers.
Adding lifetime value to your software or application can help you increase downloads of that product and increase your sales. Here are a few things you can do to increase downloads with LTV:
Solve a Problem
The success of your software begins and ends with one thing: quality. If you create a great piece of software, you will have what you need to be successful. However, terms like “great” and “quality” are somewhat subjective. So what makes a great piece of software?
The best way for you to give your customers lifetime value and drive downloads of your software is to create a product that solves a problem. Clearly define your target audience and then think about what problems they have. Next, think of a solution. You might create a piece of software that makes it easier for small business owners to manage their receipts. You might create an application that helps website owners perform keyword research or track website analytics.
The more specific you are in identifying and solving a problem, the more valuable your software will be and the greater the likelihood that people who use it will have a high LTV. If you aren’t sure where to start, perform thorough market research, including focus groups with your target demographic. Ask them directly what problems they have and what they need to solve them.
Provide Updates and Support
Your customers need to know that downloading your software is not going to be the equivalent of finding fool’s gold. They need to know that you’re software doesn’t just look great on the outside, it’s also great on the inside. You can provide this assurance by offering ongoing updates and support. You’ll increase the product’s lifetime value and ensure that it continues to run smoothly and provide the solution your customers need.
Make sure that potential customers know about the updates and support you are offering to motivate them to download your software. You can include the information in software marketing materials, as well as the introduction when they are on the download page. Of course, providing this value will also strengthen your reputation, and this ultimately help drive downloads.
Use a Smart Installer
The first impression your customers have of your software is usually the correct one. By using a smart installer, you will make the installation process fast and easy, which will make customers believe – and rightly so, we hope! – that their future experience with your software will be just as smooth. Make sure you back up the goods by creating a piece of software that runs effortlessly and consistently.
If you create a great experience for your customers right from their very first interaction with your software, their approval can be secured from the start, and this bodes well in the long-term for a good LTV.
Create a Software Bundle
Software bundles are an excellent way to help you promote your software and drive downloads. If the products you bundle with are chosen well, they can also increase your customers LTV.
With a software bundle, you partner with another company to promote your software together. You offer your customers two (or more) pieces of software that hopefully help them solve problems or enhance areas of their lives. You may even consider creating a bundle with several pieces of software. The key is to make them all relevant and useful to your customers.
When customers get two or more pieces of software in the bundle, it is ideal if they get pieces of software that are related or complement each other. If they do, they will use those software packages time and time again over the years, and they will think positively of both brands. This, of course, could lead to a high LTV.
Creating LTV, or lifetime value, should be a goal for all of your company’s products and services. Though it sounds straightforward, it can actually be quite elusive.
For software, you can create lifetime value by developing a program that provides real solutions to pressing problems that your target demographic is having. You can add to that value by providing ongoing updates and support. By offering value, you can increase your downloads and extend the time that people use your product, ultimately improving your profits.
You can sweeten the deal by creating a software bundle and using a smart installer to manage downloads. Both will provide additional value for your customers and help you maximize your downloads. Use these tips for each and every piece of software you develop, and you will meet your business goals.
Creating an app or software can help you grow your business by adding another way to serve your customers and creating another revenue stream. You could create an app or software that helps your customers solve a problem, or create a product that simply provides some entertainment and relief. Either way, you have the potential to create a whole new arm of your business.
Like your other products and services, you will have to create an effective marketing strategy for your new app or software. However, an essential, but often overlooked, part of the success of your app or software is how quickly it downloads. If the software takes too long to download, users may abandon it, and you will lose a sale. Finding ways to increase the speed of your download can help you capture more sales and meet your business goals.
Here are a few ideas for how to increase download productivity to ensure your success:
Write Clean Code
One of the most significant things that influences the rate of your download is the code used to create the app or software. If the code contains a lot of extraneous information, or if it employs inefficient operation instructions, the software will be very large and take a long time to download.
There are many ways to compress the data in the software through code. For example, on a web-based system, CSS is used to automatically load stylistic elements for a page so that the host doesn’t have to download new information each time. Similar measures can be taken when writing the code for your app or software, and tools can be used to compress the data.
Limit Information Needed at Sign-Up
When you download a new app or software package, you may be asked for all kinds of information. You may be asked to set your preferences for the software, such as whether you want it to automatically start when your computer does or whether you want it to send you notifications. You may be asked for personal information, such as your name or gender. You may be asked if you want to sign up for special offers, such as for purchasing an extension or a related product. While all of these prompts may solicit important information, they also slow down the rate of the download.
Limiting the information you ask for when a person installs your app or software can help increase the productivity of the download. Limit the prompts to what is only absolutely necessary, such as asking where to download the software or asking the person to agree to the terms and conditions. Save the other information for a welcome screen or pop-up after the software has already been downloaded.
Use a Smart Installer
A smart installer can help increase the productivity of your downloads and give you the opportunity to monetize your app or software. Smart installers help guide users through the download process while minimizing the time it takes to complete. They can help to increase the rate of downloads by speeding up the process.
In addition, you can use a smart installer to increase your revenue by showing special products and offers throughout the installation process. These additional offers may be your own products, or they can be supplied by an outside advertiser. Either way, you can increase your revenue stream outside of simple sales from the app or software.
While showing special offers during the download process can help you generate additional income for your app or software, it can slow down the download process if you don’t do it the right way. That’s why using a smart installer is so important. Limit the number of offers you show to keep the download process moving along quickly.
Limiting the offers you show can also help them have more of an impact. If you inundate your customers with offers, they may tune out the offers and ignore all of them. If you focus on just a few, well-chosen offers, you increase the likelihood of their visibility and success. This will help you increase your ROI and make for a more successful campaign.
The speed of your downloads isn’t just a matter of convenience for your customers. By increasing your download productivity, you ensure that more customers complete the download process and make the sales you want to meet your goal. The way you design your app or software can have a big impact on how quickly it downloads. However, you can speed up the process and open up more ways to monetize your product by using a smart installer. Just make sure that you focus on only a handful of especially useful offers to increase their effectiveness and their rate of success with your customers.
When you sell apps or software, simply marketing your products is not enough to meet your business goals. While marketing can certainly help you get the exposure you need, it may not help you convert your target audience. You have to create a marketing strategy that is designed to get results, and you have to use the right tools to drive conversions.
Getting more conversions for your apps or software does not have to be difficult, but it does require making the right choices and being persistent. Here are a few tips for how to increase the download conversion rate for your apps or software:
Target the Right Audience
Marketing is essential to getting the word out about your app or software, but if you want to ensure that the marketing is effective, you have to target the right audience. That means creating materials that show how your app or software can benefit a very specific type of person. To help you create these materials, try creating a persona or personas for the audience you are trying to reach. For example, you might decide that your software is best for professionals who are between the ages of 30 and 35, and who are starting their first business in the field of finance. The more specific you are in creating your personas, the more targeted your marketing campaigns can be.
The more targeted your campaigns are, the more likely they are to reach the people who want and need your software, and who will be inclined to download it.
Use a Smart Installer
One thing that can have a big impact on your download conversion rate is how long the app or software takes to download and install. The longer it takes, the more likely your customers are to abandon it. You may have had those people on the hook, but now you’ve lost them and won’t get them back.
One way to increase the speed of the installation process is to use a smart installer. A smart installer helps guide people through the installation process and makes it faster and easier. At the same time, a smart installer can show special offers at various stages of the installation. These offers can be for your products or for your advertisers’ products. Not only can a smart installer increase your download conversion rate, but it can also help you monetize your app or software and create an additional revenue stream. Do your research to find the right smart installer for your product.
Create a Special Offer
Creating an incentive can help to increase your downloads conversion rate. Perhaps you can offer your customers another product for free with their download, or maybe you can offer the app or software for free or a very reduced price for a limited time. You can also partner with another company to bundle your software with theirs, creating a special price for both packages.
By offering the special product or discount, you give customers a reason to buy immediately instead of thinking it over and possibly not returning later to buy. The more motivated customers feel to buy now, the higher your conversions will be. Think creatively to provide a variety of offers to appeal to the largest possible audience and increase your conversion rate.
These days, everyone uses apps and software to make their lives easier. Creating an app or software that creates solutions or makes tasks easier can help you to ensure the success of your business. Creating the right marketing plan can help you drive conversions and not just increase exposure for your brand. Using a smart installer and creating a special offer can help you get the results you need quickly, but defining the target audience for your marketing and deciding on the right price for your product can also bolster your success. Use a multi-faceted strategy to get the best results.
Creating your own software can be one of the most beneficial things you do for your business. Instead of recommending useful software and other technological tools to help your clients meet their business goals or make their work more efficient, you can create software that is specifically designed to meet their needs. If anyone knows what your clients need, it’s you. In fact, you’re are an expert on what they need, so you’re in a good position to create a powerful tool that delivers the solutions to help their business grow.
Just like with any product, you have to design an effective strategy for marketing your software and getting it in front of your target audience. You may know that it will innovate the way your clients do business, but they don’t know that until they try it. The key to your success is getting them to try it in the first place.
Software bundling can help you get your software in front of more people and meet your marketing goals. The way that software bundling works is that you identify another company with a recognized brand name or an innovative (but not competing) software product, and create a partnership. When clients download that company’s software, they also get yours – or vice versa. In the process, they get a great deal on two products.
Here’s how software bundling benefits you, as well as your clients:
By linking your brand to another brand that already has an established client base, you can help drive downloads of your software through bundling. The other company will be conducting its own marketing campaign to promote its software, which you will benefit from by being linked to the software. You’ll automatically get more downloads thanks to the joint efforts of the other company in promoting the bundle.
You’ll also get more downloads because your clients will feel incentivized to purchase thanks to the bundle pricing. In most cases, the bundle will offer the software package at a lower price than if the two were sold separately. If not, then additional features can be offered. Either way, the promotion encouraged clients to download since they will be getting something they wouldn’t if they limited themselves to individual purchases.
Even though you won’t convince every single client to download your software, creating a bundle will get you more exposure with every person who sees it. Partnering with the other company ensures that you maximize your exposure by getting the software in front of a whole new client base. Your software will go out to the other brand’s email marketing list, social media channels, blogs and maybe even their direct mail list. That’s a significant number of new clients you could be reaching with the partnership.
And the benefits don’t end here. You will also reach a wider general audience with software bundling. The excitement behind the bundle will help you to reach more people, who can all become potential clients. Even if the exposure doesn’t translate into immediate sales, it does create top-of-mind awareness that can make it easier to close a sale when you reach out to those same people in the future.
Obviously, more downloads translates to more sales of your software. In addition, the increased downloads and increased exposure that you get from software bundling can also lead to more overall sales for your company. Hopefully, those who download will now have a favorable view of your products and your company, and will feel more encouraged to check out your other offerings and buy from you again. They may buy your other software, or they may give your other products and services a try.
Those who become aware of your company through exposure to the bundle deal will be more likely to buy from you in the future. The more often a person sees your brand, the more likely he is to trust your company or see it as an authority (assuming that what the person sees isn’t negative). That means that person is more likely to do business with you in the future. Future sales might include the software you are trying to promote or your other products and services. Either way, it’s a win for you.
Software bundling may not be the first thing you think of when you plan your marketing strategy. However, it can be far more effective than traditional means of advertising. You get more results, which means that you can spend less while getting a greater return on your investment. Software bundling doesn’t just translate to immediate downloads and sales. It also creates a partnership that can lead to more exposure now and in your future endeavors, all of which creates more authority for your brand and helps you generate more sales long into the future.
Developing software that your business clients can use is one of the best ways to provide value for them and to establish yourself as a valuable resource or authority in your industry. The software doesn’t have to be a huge, comprehensive suite. It just needs to provide a specific solution to a specific problem in order to be successful.
Developing your software is just stage one of the process. You also need to develop a marketing and distribution plan to drive sales and ensure your success. Here are a few tips for how to make software distribution easier and help meet your sales goals:
Use an Installer
Downloading software can be a laborious process – more so the larger the software package is. Clients may lose their patience with the process if the download takes too long or uses up too many resources on their computers. This can lead to a bad reputation for your software, which can hurt sales and hurt your overall business.
Using an installer can help you make the process easier and speed up the pace of the download. In doing so, the installer will increase the completion rates for your downloads. Tools like InstallFuel provide these benefits and also allow you to monetize your software.
You can display special offers during the installation process, either for your other products or for products and services from advertisers. The installer is customizable so you can get the look you want for it and can make it display what you like during the download process.
Sign Up for a Browser Extension
Browser extensions can be powerful advertising tools. People download them to make searching the Internet a bit easier while they are online.
However, they can also display special offers during the installation process or during regular use. If you sign up as an advertiser, you can get more exposure for your software. If your software can be downloaded online, the browser extension can also encourage more downloads.
Explore the available options to sign up with a browser extension that will reach your target clients.
Signing up for the right extension can make all the difference to your success. Research thoroughly and read reviews from other businesses.
Check the stats on users and their demographic information.
Create a Bundle Deal
A great way to increase downloads of your software is to bundle it with other programs or apps. You can do this by creating a partnership with another company. It’s best not to approach your direct competitors for this partnership. Instead, focus on those that offer complementary services.
For example, if your software helps businesses handle project management, you might approach a company who offers software for record keeping or payroll (if that’s not included already in your software package).
By partnering with another company, you get more traffic and customers thanks to the exposure and reputation that the company already gets.
By creating the bundle, you also encourage more downloads by making the software available at a discount. Just be sure that you’re using an installer to make the download process fast and efficient.
Affiliate marketing is a great way to increase software distribution. By offering affiliates a commission for software sales, you gain access to a large network of promoters. The better the commission you offer, the more advertisers will agree to promote your product.
Find the sweet spot where you can offer the largest commission while also retaining the margin you need to stay profitable.
Sign up for large affiliate marketing sites to gain access to the largest number of advertisers.
Create professional marketing materials for those advertisers to create brand consistency and to make it easier for them to get the results you need.
Make sure your site is optimized for sales so that you can convert the traffic that is sent your way. The better the affiliate marketing program you create, the more downloads you will get and the more successful you will be.
Software development and distribution can be a successful branch of your business.
With the right software, you can raise your business profile and generate significant revenue.
Creating the right marketing strategy is essential if you want to maximize the potential for your software. In addition to the usual methods – such as content marketing, e-mail campaigns, search engine optimization and social media marketing – you can take advantage of these tools to drive downloads and make the distribution process a little easier.
An installer can help speed the download process and increase completion rates, and browser extensions, bundle deals and affiliate marketing programs can help you increase download rates. Don’t limit your efforts to only one of these.
Take advantage of all the tools available to you to create a multi-pronged strategy and maximize your results.
Creating your own software isn’t just a great challenge. It can also be a super way to grow your revenue stream. This is true whether your business is to create software for other businesses, or if you’ve just created a single software package to complement other services. While much of your revenue may come from sales of that software, why not increase your profits by monetizing your software.
Think of it as the cherry on the cake, the whipped cream on your hot chocolate, or the
Much like monetizing your website or app, there are many ways to make money from software. Here are just a few ideas on how you can monetize your software:
You’d be surprised. The software installation process presents several opportunities for monetization. For example, you can create or purchase a custom installer that will show your customers different offers during the installation process. These offers could include other software products or special discounts on related products or services.
The installer you create or customize could promote your own products or services, helping you to boost your overall revenue. The installer could also promote other products and services for which you earn a flat fee or commission when customers click on the links or purchase items through the links.
Your customers are just staring at their screens while they’re waiting for the software to download.
Why not take advantage of this opportunity to show them products that might benefit them and earn profit for you? Think of it as a win-win situation, one in which you earn money while your users stave off boredom.
One of the things that people can include when they download your software is a browser extension. You have likely such offers yourself many times when downloading new software. In many cases, you have to uncheck a box in order to prevent the download of the browser extension with the software.
You can actually make money with these types of browser extensions, and there are a couple of ways of doing so. Some people will pay you to include their browser extension because it allows them to gain tracking data that they can use for advertising.
Others will simply pay you for the number of clicks the extension generates. Explore your options to find out which makes the most sense for you.
You can include search boxes right in your software, or you can make them part of a browser extension. Like browser extensions, search boxes can be used to track data for advertising insights, or they can pay you out based on the number of clicks or purchases that they generate.
You can create your own search boxes then install the advertiser’s tracking code, or you can use a box provided by a company that puts you in touch with advertisers. The latter option takes care of all the heavy lifting for you.
Including your software in a bundle package creates a better deal for your customers and makes more money for you. Partner with other businesses who offer complementary products, and include your software and theirs in a package deal. Customers will likely save money by downloading both at once. This will encourage more people to buy the bundle, increasing your revenues. Just think of it as a 2-for-1 stall on your installs.
Earn two bundle incomes with one install.
You may also be able to make money from the other business using this strategy. If your site or your business is popular enough, other businesses may pay you for the opportunity to partner with them. They will get more exposure for their product, and you will make money on the bundle deal.
There are plenty of places you can include advertising in your software. And though these ads may not generate as much interest as the annual Super Bowl commercials, they can still boost your bottom line. And really, that’s what we’re looking for here.
Ads can appear during transitions. They can show up when the software is started. They can be placed on a sidebar, a header or a footer. They can even appear in text in the software. Where you place the advertising just depends on the functionality of your software. The ads should be unobtrusive, and they should be relevant to the user.
You can sell ads during the development phase of your software, or you can include code that allows you to update the ads continually. When you update the software, you can update the ads being displayed. This gives you opportunities to continue to present users with relevant ads, no matter how long they have had your software.
Most people focus on sales of their software when they are thinking about the revenue they can make from it. However, this is short-sighted. While software sales can surely bring in a lot of money, there are many other ways to make money from software. You can include browser extensions, search boxes or in-software advertising.
You can create bundles or custom installers. You could even take advantage of all of these opportunities. The only limit, really, is your own creativity. Think about the types of partnerships you can develop and what kind of audience you are targeting. Explore the full range of options to discover which strategies work best for your business and your software.