P5 E

P5 – Learners plan the development of their own social media website, including e) Possible revenue streams

In order to earn money through my app, there will be in-app purchases for the users of my app to improve their experience through social media. This means that for an additional charge, users will unlock several more features in the app, such as additional filters when uploading photos or the option to share several photos at once through a collage. As the app is initially free to purchase on the app store, having the option for in app purchases means that I will make a profit.

A second way in which I will be able to make profit through my app is by adding banners. These will be available on the homepage of my website or if using the app, this will be the first thing they see after the logo is presented. Through the app it is shown as a sponsored pop up, meaning that a company of my choice will be the sponsor. The sponsor will pay me for their allowance to present a pop up on my website/app, meaning they can attract new buyers through advertising on my page, which also gives me profit in return.

Sponsored messages are a third way of how I will be able to gain a profit through revenue streams. For instance, Social media sites such as Twitter have used this skill to gain money in the past by adding sponsored tweets. This is where a company uses the social media site to tweet to possible consumers about the offers they hold within their company, meaning they are using the site as a form of advertising. To do this through my app, I have incorporated sponsored messages into my website by users being notified whenever a company decides to promote a new offer through the site. This however can be turned off in the user’s notification settings on the app.