Mobile Gaming Industry – Generating Big Business From Small Devices

In the year 2007, Apple Inc. gave a whole new meaning to mobile technology by launching its flagship device – the first-generation iPhone. The device acted as a boon for a mobile game development sector, which was otherwise growing with a “snail’s speed“. Later, in the year 2008, the Internet giant Google also released “Android OS” and this eventually started a war of apps, and both became fierce competitors. However, this proved fruitful for the smartphone users, as the competition resulted in the development of better mobile gaming apps with excellent graphics, fascinating game play and superb sound systems.

The Statistics and Predictions

With the pace of time, companies brought advance tools and technologies to develop more sophisticated gaming apps, to allure a bigger chunk of mobile enthusiastic population. As per recent statistics, in the year 2010, the smartphone and tablet gaming app sales reached $898 million, and it is expected to generate a revenue figure of $1.6 billion by the year 2015.

The overwhelming response experienced by the mobile gaming apps can be seen by the following facts –

  • 53% of smartphone owners play mobile games on daily basis
  • Smartphone users spend 14.7 hrs per month, playing mobile games
  • 93% people pay for gaming apps
  • 100 million mobile gamers in U.S. alone
  • 700 million download of Angry Birds app
  • Tiny tower generated $3 million from in-app purchase
  • Major revenue generation is via advertisements

It is worth mentioning that the above figures show only a small insight of the entire mobile gaming industry. However, with the technology evolving with each passing day, the popularity of mobile games is expected to break all the previous records.

Freemium Model or Paid Model – The Game Changers

The task of selecting the right medium for revenue generation has always been a game changer. There are three main revenue models in the mobile application development industry:

  • Free Apps – The apps were supported with advertisements, to support revenue generation.
  • Freemium (Free + Premium) Apps – Free to download apps, but with in-app purchase options.
  • Paid Apps – One-time payment for all the features.

No doubt, the freemium model has proven fruitful many times, but the major revenue generation is still carried by paid game apps. In addition, the predictions by experts state that, the revenue from free, ad-supported games is expected to grow by 12.3%, by the year 2014. Therefore, with free applications missing the “Spark“, and freemium apps showing better potential, the prospects of being innovative and effective are higher in the latter. As a result, one can sense a balance in revenue generation between paid and freemium apps in coming years.

Word of Mouth – The Main Reason Of Downloads

No matter whatever the medium is, physical or virtual, the “word of mouth” always serves as an efficient way of promotion. Even as the companies are spending heavy to promote their gaming apps, the statistics suggest that “word of mouth” medium of publicity still holds the number-one position in effectiveness. As per a recent survey:

  • Around 50% of adults learn about new gaming apps from friends and family.
  • About 40% of adults learn from app stores, after reading the user reviews and hot list.
  • About 25% of adults learn from social media sites.

However, there is also a long list of mobile gaming websites with a heavy influx of web traffic, present over the Internet that provides game reviews, upcoming apps, cheats and tips. So, companies should concentrate on utilizing all types of efficient media channels to acquire maximum coverage and ensure 100% promotion of their apps.

With mobile gaming apps available for free to play, it is easy to fall-in and get absorbed in them. Furthermore, from above statistics one can easily sense the increasing popularity, the higher growth rate and the potential in Mobile Game Development Industry.

Small Business Liability Insurance Quote Overview: Quick Introduction to Business Insurance Coverage

All businesses, big and small, need commercial general liability insurance. There are many things that could put your finances at risk, and without adequate coverage, your entire company could be affected. Look online to learn the laws in your state and local jurisdiction to find out the minimum amount of insurance you need, and then conduct a search for a small business liability insurance quote. You can get multiple quotes at once and compare them to see which one offers the right amount of coverage for your business needs.

If you have any employees, the federal requirement will require you to have workers’ compensation, disability insurance, and unemployment. Keep this mind when researching policies and comparing quotes.

The best commercial insurance providers will have custom policies tailored around each type of business and industry. For those involved in the real estate industry, there are special “real estate” business insurance policies that cover everything a realtor needs. Certain industries are obviously going to require more protection than others, namely construction types of businesses and who have to deal with machinery.

Small Business Liability Insurance Quote for Professional Liability

There is also “professional liability insurance” that is designed for small businesses that provide some type of services to customers. It protects against financial losses as a result of errors, negligence, malpractice, etc. Even if you just provide services out of your home, you should still look into getting a small business liability insurance quote for “home-based business”. One option is to add the coverage to your existing homeowner’s insurance to protect your equipment and any kind of possible liability coverage for 3rd party injuries.

You should always assess your risks. Carefully think of anything and everything that could possibly go wrong with your business that will cost you money. Look for a quote that includes coverage that will protect you from all of those things.

Your choice of an insurance provider is equally as important as the policy itself. Check a company’s financial history and current financial situation. A company that has been around for a long time and is currently strong financially is ideal. Also, customer support should be very reliable – especially if you’re new to business insurance and aren’t exactly sure what you are getting yourself into.

Where is a good place to start looking for a small business liability insurance quote? One company that offers great custom policies and affordable rates is Hiscox Insurance Company. Whatever kind of liability insurance you are looking for, this company will offer really good solutions.

Small Business Insurance Cost Guide: What You Need to Know About Insurance Coverage and Premiums

One of the biggest concerns many small businesses have is the cost of insurance. It is something you absolutely need, but how much of it can you really afford? As with any type of insurance, there are a number of factors that go into the evaluation of small business insurance cost. Approximately half of small businesses in the US pay around $400 – $600 annually for general liability insurance. However, you could still end up paying less or more a year, depending on the number of employees and the type of industry you’re involved in.

High-risk industries like construction are going to be stuck with higher premiums, while low-risk industries get the lower rates. There are usually ways to save – especially if you choose a good commercial insurance provider. Just use search tools on the internet to obtain quotes. Also, companies with a physical, brick-and-mortar store or facility open to the public are more at risk than professionals who work from a home office.

Businesses with physical locations open to the public are usually have to pay more money for insurance just in case someone is ever injured on the property. There are also things like theft, falling objects, vandalism, fire, and weather damage to worry about.

What Does Small Business Insurance Cost Include?

Even if you do operate from home, this doesn’t mean that you are completely invulnerable to lawsuits. There is always the possibility of being accused of things like plagiarism, copyright infringement, slander, and so forth. If you have any vehicle that is used for business, even if it’s your own, you’ll need insurance for that as well. Do you have employees that you send to perform errands? What if they become injured on the job? Or accidentally cause damage to a client’s equipment? Keep all of these factors in mind when evaluating small business insurance cost.

Some insurance companies for businesses and professionals simplify things by offering custom insurance plans for each industry. You can choose a policy that is already tailored for a small business in your industry, with the exact kind of coverage you need.

There are pro-active things you can do to help reduce the cost of small business insurance:

• Invest in security products.

• Develop a safety training program for employees

• Compile a list of rules for posting on social media and make sure your employees understand the rules.

• Reduce potential hazards on property

• Create a checklist for procedures relevant to your industry and company.

Where should you begin your search for small business insurance cost? Definitely start with Hiscox Business Insurance. There are custom plans in every type of industry possible. It’s easy to find the ideal solution and save money with this organization.