Mobile Apps
A popular app that comes in handy is Google Maps. I, myself, don’t use it frequently except for when I go on vacation. However, I don’t drive for a living. My job is just right down the road. Now, for companies involved with any type of deliveries, may they big (ex. trucking companies delivering goods across the country) or small (ex. pizza drivers) , Google Maps is a handy navigational tool. The best part is, is that they don’t charge the end-user to utilize the app. Thus, when I drive on vacation, I can plug my destination into the map and it gets me there without charging me for the service.
One may ask, if you don’t have to pay for the service, then how does Google Maps generate revenue? The majority of the revenue is generated from fees and advertisements which Google charges businesses to use their platform. “Google earned 7% of its revenue from ads placed on their websites, including Google Maps, in 2023.” (1) Maps is highly detailed, right down to the street level. Have you ever seen the Google cars with cameras strapped on top of the roofs? I have, this allows the end user to zoom in to a street level view and actually see the houses/business on the street. On Maps, they have generalized symbols for restaurants, hotels, banks, etc. Businesses can pay Google Maps a fee for specific company logos so consumers can recognize them; for example, the letter H for Hilton instead of just a bed symbol. Prices vary depending upon usage level needed. Google Maps offer a variety of solutions such as: maps (aerial, street view), routes (direction, distance), places (address, search near by), and even environment (air quality, pollen), and even more for both businesses and users. (2) Google Maps work with both Android and iOS, so anyone can use the app. I would say to get the most out of the app, it helps if you have a newer car which has the capability to display the map on the dashboard screen verses having to constantly look at your phone.
Another popular app is Instagram. Instagram is a social media platform which allows users to post pictures , video clips, and stories. These posts are mostly for friends and family allowing people to stay connected. Instagram is available for all users but mostly for those under the age of 18. (3) The platform can be used by both Andriod and Apple users.
Although the platform is for staying connected to loved ones, one can even shop on the platform. “Instagram makes money by offering advertising opportunities to marketers using the platform.” (4) In order for businesses to get the most out of Instagram, there are 3 steps to creating a successful post: “Create engaging content, write compelling captions, and add helpful tags.” (5)
- https://www.investopedia.com/articles/investing/061115/how-does-google-maps-makes-money.asp
- https://mapsplatform.google.com/
- https://finty.com/us/business-models/Instagram/
- https://finty.com/us/business-models/Instagram/
- https://business.instagram.com/instagram-post-tips