Brilliant Business: Pokémon Go!
Posted by Tollfreenumber.ORG at March 28th, 2016
Pokémon Go! Is the hottest new app to take the US by storm, soon to be world – and it’s hasn’t even been out that long! Pokémon Go! is considered to be a generational game played by 25-36 year olds in general but has somehow managed to become incredibly popular across the board. The app is free to download and provides hours of seek and find fun but leads us to question: How a free app, meant for a small niche of the population, became so large, so fast, and how is it making money?
If you’re not familiar with the game, it was originally released in 1995. The idea is that you catch these little creatures and train them to battle other creatures from other users. Originally a video game, the 2016 app release goes by the same premise except users are to get out in the real world to find their Pokémon creatures. Sometime they appear in your house, sometimes at work – you never know where you’ll find your Pokémon!
If the app is free, how do they make money? Of course most apps allow users to download a free version of the game if they can handle the constant advertisements. This one works a little differently… Like Candy Crush, users can buy certain items in the game using the games own currency, which you buy with your real life currency. One report estimates you can buy 100 Pokémon coins for about $1 US.
The issue then becomes how many people are potential sales. No one knew how incredibly popular this game would become or that its daily active users would exceed that of the largest social media site, Twitter, within a week of being released. Millions upon millions of DAU are spending their money to get these coins equaling astounding profits for the Pokémon corporation.
How can this information be useful to other business owners? First things first: Create a product people will absolutely fall in love with. So much so that they won’t want to be away from it. Secondly, generate buzz! This new app has been in the works for awhile and was much anticipated after a healthy round of hint dropping. Thirdly, make it affordable. $1 for 100 coins in the game? What’s a dollar to someone? Not much. What’s over 3 million user’s dollars to the creator? Over 3 million dollars profit!
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Category: Companies