Who Makes $1 Million off their Facebook Application Every Week?
Of course, some developers will slave themselves just to make something cool for the Facebook-o-sphere to love, enjoy and share with all their friends. But there are at least 4 other reasons:
- For Branding (You're a development house or a popular brand)
- To Sell (Example: Where I've Been gets bought by TripAdvisor)
- For Specific Actions (Affiliate products like iLike linking to iTunes)
- For Page Views (If you're selling banner ad space on your application)
These reasons are very similar to why someone starts blogging. Some do it as a hobby, others to brand themselves or their company. Others blog for a living -- to sell affiliate products or ad space.
But how to monetize Facebook applications is a big concern for companies who have tossed around the idea of developing one.
Yes, there is a secondary market for Facebook applications, and you can get an idea of what different applications are "worth" with Adonomics.
What is Adonomics?
Adonomics™, formerly Appaholic, is your source for Facebook analytics. By providing a stock-market-style analysis of the Facebook platform we enable developers and investors to track application growth, activity, and valuation.
But is anyone making money off of Facebook every week? Is $5,000 per day realistic? How about $1 Million per week? How do they do this?
I recently sat in on a session on Facebook application monetization presented by Jason Bailey of affiliate marketing firm Millnic Media at the recent Vancouver Facebook Developer's Garage. Here's the video:
PS, that's my head in the bottom left. Yep. I know. You want my autograph now.