Mobile Application - The Benefits & Cost of Developing iton August 17, 2020
There were times when creating a mobile app was feasible only for big brands and organizations. Those days over now - thanks to the evolution of technology. It is accessible to all, from a big industry player to the small businesses and entrepreneurs.
Most businesses with online websites have mobile applications and others are following the suit. If you are yet to make a decision, then let us help you make the right, informed, and timely decision.
Let us help you with some facts and figures explaining why mobile applications are essential for businesses today;
What Number of Businesses In the US have Mobile Apps?
According to a survey published by Statista in April 2019 said that as of 2018;
- 42% of small businesses had mobile apps
- 28% of small businesses were not interested in mobile apps
- The rest, 30% of them were planning to develop mobile in the near future
The figure suggests that a large number (almost 72%) of small businesses have mobile applications.
Why is Mobile App Vital for Businesses Today?
There are so many reasons to say why a mobile application is the need of the hour. I shall discuss those reasons later in this article, but first I would like to show some stats shared online by independent organizations.
- There were 4 billion unique mobile phone users worldwide, surveyed by Persistence Market Research
- 48 of total page views worldwide are done through mobile, surveyed by Statista
- Smartphones internet traffic accounted for almost 52% of global online traffic by Jan 2020, surveyed by Statista
- Smartphones shared 77% of total digital minutes in the United States (in 2019), surveyed by Statista
- While 89% of total mobile minutes spent with mobile apps in the United States (in 2019), surveyed by Statista
In short, mobile phone apps are getting increasingly popular amongst users for daily activities with social media apps at the top.
So, why do small businesses need mobile apps?
There could be various reasons why small businesses need mobile apps. However, according to startups, entrepreneurs, and small business owners in the US, there are three primary reasons.
- Attract new customers
- Gain competitive advantages
- Increase sales
Below is the result of the survey conducted by Statista to find why small businesses build mobile apps:
Whereas a survey by TechCrunch stated that 79% of smartphone owners use apps every day while a survey by Shopify states that 50.3% of eCommerce website traffic comes through smartphones.
The findings are based on small businesses in the US in February 2018. While there is a dramatic increase in the use of mobile leading to a direct increase in companies building mobile applications, these figures are enough to help understand why mobile applications give your business a competitive advantage.
Still not convinced?
Top Benefits of Building Mobile Applications for your Business
There are plenty of benefits you will have with mobile applications for your business, but we have listed the top 5 reasons your business will reap the benefits of building a mobile application. Let’s explore;
#1. Give Value to your Customers
Of course, conversion is the ultimate goal that every business wants to achieve. Therefore, more emphasis is placed on increasing the interaction of customers with the products and services. With the help of mobile applications, you can easily do this and also provide value-added offers to build loyalty.
For example, you can create a loyalty program within your app and let customers interact with your services and products and earn rewards.
#2. Well-built Relationship with Customers
When it comes to online business, creating awareness and establishing communication between customers and brands are challenging factors. A mobile app offers both. The regular interaction with the target market even helps you foster trust which will increase brand commitment and help make successful sales pitches.
#3. Gives you a Competitive Edge
A mobile app gives you competitive advantages by enabling you to connect with your potential customers and capture the large part of market share. You get a handy tool and can create something unique which will help you get your business stand out from your competitors.
At the same time, you always have opportunities to show exclusiveness and by the time your competitors come to understand your approach, you would have effectively managed to build strong customer loyalty.
Let’s understand this with the example of Amazon;
In 1995, Amazon ecommerce app was launched. Today, it has become a go-to store and can be found in every mobile device. Building a mobile app earlier than its competitors gave it a competitive advantage.
#4. Helps you Connect Better with Customers
Almost 52% of total internet traffic is driven through mobile phones. That means mobile apps have become the true game-changer in terms of providing excellent customer services.
The app will strongly represent your brand to your customers, and help them understand your products and services. If online findings are to be believed, the primary reasons for building a mobile app for business are to improvise customer service followed by providing an engaging experience and increasing revenue.
Therefore, if you call yourself a customer-centric business, you need a mobile app to maximize customers’ satisfaction.
#5. Earns you Maximum Profits
According to mashable.com, 39% of purchases for Black Friday in the US were made on mobile in 2019. The more you satisfy your customers, the better the conversion rates you
As per SalesForce, 75% of customers make buying decisions based on how they are treated. So, you need a robust and interactive mobile application for making maximum profits, though having a responsive website will add another feather in the cap.
Similarly, you have plenty of other business benefits with mobile which include;
- Generating new leads
- Achieving a higher customer retention rate
- Improving operational efficiency
- Reducing costs
- Making your brand easily accessible, and so on
How much does It Cost to Develop a Mobile App for Business
Now, having gone through these points, you might be exploring the cost of developing a business mobile app.
Have you found it anywhere?
If yes, then I have something very important to tell you. None can give you the exact figure of mobile app development cost without going through the requirements and consultation. Yes, a prediction can be made.
So, the cost to develop a mobile app will depend on various factors, such as;
- The type of application and its platform
- The framework you choose
- The developers or the mobile app development company you hire
- The time it takes to build the app
- And, the development charges incurred by the developer or the development company
If you have decided the platform and framework, then you can estimate the development cost based on two things;
- The app development charges
- And, the time it will take to develop the app
Mobile App Development Charges
The cost to develop a mobile app will depend on the company and the country you choose for the app development. Prices differ from one company to another and one country to another. Here’s a finding by Statista for you to know;
The mobile app is not a passing fad. The sooner you understand and implement this, the better chance you stand at making it your customers’ good books. If you are looking to build a robust and scalable mobile app or just want to be doubly sure about the need for a mobile app for your business, you can talk to our experts.