The basic security measures for video apps include the following:
- Network background. In the case of server failure, it will provide 24/7 monitoring and content availability.
- Token security. Without your approval, third parties won’t be able to access your content.
- Domain restriction. If you lock content to a specific domain, other users won’t be able to see the embedded link in the source code and insert it into another site or app.
- Geographical restriction. It excludes selected locations because of licensing agreements.
- Watermarking. This will enable you to maintain the rights to your content.
When choosing a payment gateway, consider PayPal Payments Pro that allows you to create and host your own checkout pages for maximum control. Otherwise, you might opt for 2CheckOut that supports payments via Visa, Discover, MasterCard, JCB, PayPal and other credit and debit cards. Braintree might come in handy too — it accepts payments in more than 130 currencies and operates in over 40 countries. Another worthy alternative is Stripe — this payment gateway supports subscription services, features premade UI components, and an API-first approach to customization.
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Build an MVP and Test It
The most meaningful competitive edge of your minimum viable product is its intuitive interface. Users should be able to effortlessly navigate through the content, add videos to favorites, create lists of their favorite videos, search content by its name or other characteristics, filter content using tags and categories, and so on.
Metrics That You Should Pay Attention to
When assessing the efficiency of your product after its launch, you should focus on the following parameters.
- Customer Acquisition Cost shows how much you need to pay to acquire a new subscriber. The lower it is, the better. To calculate it, you should select a specific period and divide your marketing expenses during this period by the number of paying subscribers.
- Retention Rate evaluates the percentage of active subscribers and those who have stopped using the service over a certain time. The higher it is, the better. To calculate it, you should subtract the number of new subscribers at the end of a season and divide it by the number of subscribers you started the season with.
- Customer Lifetime Value indicates how much revenue you receive from repeat customers. The higher it is, the better. To calculate it, you should check how much you’ll get from your average user if you keep them for a year.
- Return on Advertising Spending displays the effectiveness of your marketing campaigns. To calculate it, divide your sales by your advert spending.
And of course, you should consistently gather customer feedback.
Final Thoughts
Hopefully, this information was useful for entrepreneurs who would like to build an app for video streaming. When the product takes off, it should be able to bring your considerable income.
