Being in the social media space, I’m always thinking about what may happen next since it’s important for me to strategically steer our company down the right path. There are so many factors at play as social networks continue to evolve to satisfy users’ growing appetites.  Based on my ongoing research and understanding, I expect we’ll see a number of things happen this year that will cause a shift in the way social media functions and how we fit into it.

First off, we’ll continue to see games, games and more games — which means a lot more players and developers too.  This is partly due to the fact that Facebook appears to treat game developers as first-class citizens.  After all, if statistics such 50% of Facebook users actively playing games is true, game developers directly feed Facebook’s growth and stickiness.  Many speculate it’s due to market movers in that genre such as Zynga, who keeps content fresh, minimizes scammy advertisers, and advertises heavily themselves on Facebook. I speculate that once Facebook plateaus in growth, even though they have a long way to go before that happens, a resulting gaming market crash will ensure.  But while times are still good – keep on farming those strawberries!

I anticipate that social networks like Facebook will continue to clamp down on viral channels in an attempt to mitigate spam. That said, the viral channel will be left open for creative, engaging games, giving app creators an existing powerful viral channel to use.  While non-game apps will still have promotional tools such as wall posts and feeds, the notifications channel will be closed for these types of apps.  App creators can still overcome this handicap by creating more quality apps, and yes, even lite games soon too.

We’ve seen the beginnings, but even more advertising dollars will shift to social media in 2010 than in 2009. Advertisers are embracing social media as THE medium to reach certain sets of consumers, and are able to deliver highly targeted messages through this channel.  Companies such as Groupon.com is a great example of a simple concept that leverage the power and trust of social networks in a big way, in this case connecting millions of users to local small businesses.  We’ll also see social networks requiring a greater accountability from both advertisers and developers to ensure they meet stricter rules of engagement that seem to be emerging by the day.

For users around the world, we’ll see the internationalization of content, including apps translated into many languages. There will also be increased standards around privacy as users continue to demand it.

As we dive into 2010, it’s my hope that AppBank’s unique model and base of thousands of loyal app creators will continue to be successful and morph to meet changing times no matter what the next big genre of content on social networks is!

Recovered from the holidays?  We hope you had a good one!

We’ve been busy reflecting on what we can do better to help app creators build even better  apps based on continuous market testing; refining our tools, templates and tactics to support app creators in that endeavor; and revving up for a successful 2010 for all of us.

We want to give app users an even greater depth of experience as measured by metrics such as repeat users, length of user interaction, and review scores. In addition, we want to provide app creators with additional resources, more access to viral promotion channels, and more opportunities to express their creativity in a structured way. After all, this all leads to more money for our app creators!

Here are some new things you can expect to see shortly:

• Fun NEW application types including social games. AppBank templates are being expanded, making it simple for anyone to create cool apps.

• Improved existing app types like quizzes, trivia, knowledge base, gifting, and more.  We’ve listened, and incorporated user feedback to make these even better, and easier to navigate.

• Better monetization – app creators will be able to make more money per user!  Enough said.

• Enhanced communications from AppBank. We’ll continue to alert you about any pertinent technical issues and announcements with regard to Facebook, your apps and our service to you.

• Quicker payment terms. We’re speeding things up so AppBank app creators will be paid in 2-3 days.

Okay, who’s ready to make more money with AppBank in 2010?

We’re excited to announce the top 3 AppBank creators for 2009!  Congratulations go to Phillip, Beverly, Alyssa for earning top dollars with their awesome apps!

Beverly is a working mom of four and after her husband was recently laid off, she was searching for supplemental streams of income. With AppBank, she has the flexibility to create an app at any hour and the money she’s earned has helped her family get by during these rough times.  Check out Beverly’s intriguing apps:

What does your spirit guide want you to know?
Who were you in a past life?
What does 2010 have in store for you?

Alyssa is a full-time college student and a nanny for a family of four kids.  She was drawn to AppBank because it gave her a means to be on Facebook and make money at the same time.  Her parents pay for half her tuition and she’s using her AppBank earnings to help pay a portion of the rest.  Alyssa has attracted users with these top pop culture apps:

Which Movie Couple Are You and Your Significant Other?
Which Movie Would You Play the Lead Role In?
What Type of Drunk Are You?

Phillip works full time as a computer repair technician and he used his AppBank earnings to make this year’s Christmas extra special for his kids.  See why Philip was so successful with his popular holiday apps:

Sexy Santa Helpers
Sexy Public Servants
Adorable Christmas Babies

Inspired by these three?  We are!  If you’re new and want to create AppBank apps too, learn more here.

In addition to tools and templates, we’ll continue to pass along advice for developing apps that rock.  On that note, since you may be working on a few apps before the end of the year, here are 10 things to consider which are based on some of our most popular Facebook apps.

Tip #1- Set your app apart with a unique but relevant application logo.  Use a larger image that “pops” and be sure to upload your app logo to the Facebook Application Directory when prompted.

Tip #2- Engage Facebook users with great images that tie in well with the app topic(s).  Gather image files first, so you can simply plug them in as you build the app.  Be sure to avoid copyright infringements by searching for “royalty free images”, “free photos” or “free clipart”.

Tip #3- Take the time to ensure that all grammar and spelling are correct, this helps establish credibility and of course, displays professionalism.

Tip #4- Encourage app users with praise in the form of images with captions for various score levels. This may inspire them to post app results on their Facebook Wall, making it more virally popular and equating to more money in your AppBank account!

Tip #5- Research apps by performing a directory search.  If an app on the same category exists, determine if building one similar is worth the time.  Remember that originality, creativity and topics with a broad appeal are keys to good exposure on Facebook.

Tip #6- Put yourself in a user’s shoes and take your app for a test drive before you share it with the world. Review every step, grammar, spelling, image placement and scoring for accuracy.

Tip #7- Optimize your app by adding “Like” and “Comment” features on the Facebook Wall to attract feedback, more exposure, and most importantly drive your app to the forefront of reputable apps (Facebook places a certain level of value and importance on user comments).

Tip #8- Cross promote other apps you’ve created by posting links on the “About” page for each app, so users can see a list of all your apps.  Anything you post on your “About” page will immediately appear on the News Feed of all subscribed fans.  If users really enjoy your app, they’ll likely be interested to see the others you post as well.

Tip #9- Make your app more robust by creating an app with more questions and results. Since final results are calculated by totaling the sum of all answers, more questions and results increase the accuracy of the scoring process.

Tip #10- Find creative inspiration for developing your own apps and quizzes on these 3 sites: www.quizrocket.com, www.quizilla.com and www.cosmopolitan.com.

Happy app creating to each of you!

Welcome to the AppBank blog! In this blog, I’ll be discussing various topics ranging from how people can make money to running a business in a down economy. Hopefully, you’ll find the postings helpful and engaging.

First off, I’d like to share my background with you and why I started AppBank. In 2000, I co-founded a domain management company called Oversee.net and grew the company to over $200M in revenues. In 2007, we took private equity money in a $150M round, and since then I moved from LA with my wife to create this startup. The idea arrived over the holidays in 2008 over Thanksgiving dinner when our niece, who’s in college, was telling us about how she was creating cool Facebook quizzes and polls for her peers. In the next breath, she started complaining about how she had no extra money to go shopping or eat out. My wife and I thought about this and thought, “Why shouldn’t she get paid for all the people she’s reaching on Facebook with her application?” After that night, we got started on creating AppBank and the company was officially formed in April 2009.

Fast forward 9 months and here we are in the midst of the 2009 holiday season.

We’re still dealing with a recessionary economy so money is pretty tight for a lot of people and coming up with extra cash can be difficult. To address this, people are looking for fun, creative ways to bring in a few extra dollars so that they can give a bit more to their friends, family members, and favorite charities. At AppBank, everyone from college students to stay-at-home moms are using our service to make up to $2,500 a month in their spare time through AppBank’s innovative ad-share model. If you’re interested in making some extra cash during this holiday season, check out www.appbank.com. Also, if you want to hear what others are saying about AppBank, be sure to take a look at some of our most recent coverage in The New York Times, Wall Street Journal, and PC World. Over 30,000 are currently using the service to make money for the holidays – shouldn’t you be one of them?