Are you interested in mobile apps? Are you an entrepreneur with a great idea but have no way to
implement it? Are you a business owner looking to boost your scalability and profitability? Are you trying to digitize your business idea?
If yes, then we have the perfect article for you! Here, we will show you how you can make your business more profitable and scalable using the most revolutionizing method present nowadays:
But before we dive into that, let us review what Mobile Development is.
Are you interested in mobile apps? Are you an entrepreneur with a great idea but have no way to implement it? Are you a business owner looking to boost your scalability and profitability? Are you trying to digitize your business idea?
If yes, then we have the perfect article for you! Here, we will show you how you can make your business more profitable and scalable using the most revolutionizing method present nowadays: Mobile Application Development.
But before we dive into that, let us review what Mobile Development is.
What is mobile development?
Mobile development might seem straightforward in terms of its definition; it is developing apps for mobile phones which is rhetorical. However, mobile application development is larger than that. Mobile application development is the process of creating apps that work on every device that runs a mobile operating system. This includes everything from smartphones, tablets to wearable technology. Yet, we are not done. In truth, one does not necessarily have to develop apps for any mobile device per se. Actually, mobile apps can be developed on mobile phones, yet they are web applications. There is more. Some web applications can load as web pages or websites and offer functionalities traditionally available on native mobile applications, how cool is that? These web applications are known as progressive mobile applications, pwa apps.
If you are looking for a mobile development company to bring your idea to life, send us a message.
Now that everything is straightened up, let’s dive into this.
Why use mobile apps?
Mobile phones are ubiquitous and as a business-oriented person, it would be lackadaisical to keep a blind eye to this fact. The nature of technology attracts people looking to bring about the latest cutting-edge innovation which in return makes it, almost always, hard to know on what one should focus next. It is unquestionable, though, a failure in keeping up with the market trends will lead to an arduous struggle to keep your company alive. Simply put, it is, to a certain extent, more like adapt or perish principle. However, you do not need to look for the next trend because we have it for you: it’s mobile application development. Whether it is iPhone app development or Android app development, mobile apps firms can help you bring your idea to your customers’ screens wherever they are in the world.
If the adapt-perish principle was not convincing enough. Here are some eye-watering statistics for you to consider. In 2017, according to worldwide statistics, 2.3 people are categorized as a smartphone user, but that’s just the tip of the iceberg. In a statistic released in May 208 by Statistica, the number of apps downloaded by region is quite stupendous. Here’s a chart highlighting the numbers of first downloads of apps (re-install is excluded) in the IOS App Store, Google Store, and other Android third-party stores:
These are not only jaw-dropping but also head-spinning figures. But, what does this mean for you and your business?
I am glad you have asked that question.
Let’s be more realistic, shall we? Such numbers, as astonishing as they are, don’t necessarily mean anything to us unless they can be seen in terms of revenue.
Well, you will not be disappointed in that regard. Revenues generated by mobile apps in 2015 hit 69.7 billion US dollars; a very impressive figure. What about the future? According to forecast by Statistica, mobile apps revenues are going to skyrocket to a staggering figure of 188.9 US billion dollars via app stores and in-app advertising.
Why use mobile apps?
As far as sound orthodox thinking is concerned, you might want to grab yourself a piece or two of this pie before the train’s whistle blows. But, we are far from being done breaking down the mobile development just yet.
These figures come with no surprise as the sales of smartphones and tablets are increasing every year which in turn incites the number of apps available on both the Apple and Google store to increase. Not only that but also the number of downloads as forecasted in the graph above. It is unquestionable that the number of downloads is higher on the Google store as it is accessible to more smartphone users which makes Android app development more popular and exercised as iPhone app development.
However, revenue-wise the race is quite tight. With the increasingly evolving number of smartphones, apps, and downloads, it makes the mobile app a great source of revenue that ought to keep an eye on. But, revenue is not the only reason that should attract you to this spectacularly disrupting field.
As a business owner or entrepreneur, it is very important to think about what mobile apps bring about as changes not only to the business about also to the consumer behavior. Smartphones have created a shift that ought to be thoroughly considered in the behavior of the consumer. Smartphones are becoming more and more accessible to the public as the technology involved in their making is becoming cheaper over time. Such fact has created a change in how people surf the web nowadays.
People use their smartphones to access the web and are constantly connected to the Internet; that’s an undebatable fact. On the other hand, people spend more time on in-app rather than the mobile web.
According to eMarketer, mobile apps, in the US, account for a remarkable 84.9% of time people, particularly internet mobile users, spend on their smartphones. The rest is accounted for mobile web surfing which is stagnant at 27 minutes per day.
Mobile apps allow you to attract customers and retain them through a constant engagement on your apps which increases their loyalty for your brand. This is especially true in the retail sector as customers can have access to your latest sales, new products, and fidelity programs all in one place that is the mobile application.
As highlighted above, the number of mobile application users is increasing which means that your customer base can be increased as well. Thanks to global commerce, your reach can go from regional to national to international. Anyone with a mobile device and Internet connection is a potential customer that can download your app and get instant access to your products or services.
• Increased Sells
t would be quite false to say that the website conversion rate is decreasing-ultimately true as societies are becoming more mobile-centric. On the other hand, as the statistics above demonstrate, internet mobile users are spending more time on the business’s app than on its website. This should be enough for a reason to push towards developing, but also consider the fact that mobile conversion is also on the rise and that customers when they log in the app, they are, at least, ready to follow through with their purchase.
• Brand Reinforcement
Mobile apps offer a unique and new channel for branding through customized customer experience. Customers can download branded version through the app and customize them as they will.
• Various Payment Methods
As mobile commerce is continuously booming, mobile payments have also become diverse and offer an option such us mobile wallets which allow one-click checkouts. This allows the customers to skip the headache of being directed to a third-party payment processor or entering their cards information. This undoubtedly translates into higher conversion rates, thus sales.
Mobile apps are a very useful tool to generate revenue outside of your main business activities. This is to say Android app development or iPhone app development can be monetized to bring more revenue to your business. With the right mobile development company, your business’ success can skyrocket. Since people spend a lot of time on their apps, an in-app advertisement is a game changer when it comes to the communication between advertisers and customer.
Digital advertisers realize the importance of in-app advertisement that’s why it is forecasted to reach 28 billion US dollars annually. That’s a head-spinning number. On the other hand, it is very important to choose which advertisers you want to associate your brand with. Advertising on your app can easily backfire if you harm your user engagement i.e. the customer engagement experience is always disrupted by ads.
Bare in mind that the idea behind ads is engagement, so ads on your app should be there as a source of incitement, not frustration. The easier ads can be integrated into your app, the better the user experience becomes, the better the monetization is.
•Aside from in-app advertisement which generally is represented in 5 categories being: full-screen ads, notification ads, capture form, advanced overlay and banner ads, in-app video ads are also a good channel to monetize your app. In 2019, US digital video ad spending is expected to reach 14.77 US billion dollars. In-app video adds is a traffic channel once you have established a decent users’ base to monetize your app. This channel offers higher engagement percentage than other sources as well as a higher payoff. On the other hand, your mobile development company needs to be smart in the way they are going to embed video ads in your app. This needs to be done smoothly, so you don’t push your customers away, thus you can make more money.
Moreover, you charge for your app installation. This is very logical if your app if offering a very exclusive service. A lot of apps are paid especially if they operate in the finance industry or digital content creation. For instance, if you are developing an app helps your customer organize their finances and calculate taxes and offer a thoroughly customized spending plan, you can charge a certain fee to make such services available for your customers. This is a very tricky decision to make as people tend to download free apps. But, charging for your app installations remains very effective to monetize your app and generate more revenue stream for your business.
There is another way to do this and that is through freemium opportunities. As a business, you can develop two versions of your app. Your app will be free to download, and it will include a free version for people that want to use, partially, and a premium version for full use. Tinder is a good example when it comes to freemiums. Think of your free version as a pre-taste of what your app can do and after using to see what your app can offer; your costumers can realize that your services are indispensable from them which means they will be ready to pay for the premium version. Keep in mind that the free version ought to be very good and not so limited as to force customers to buy the premium version. This generally results in the uninstallation of your app. Add to that, the premium version ought to excel so you can get good reviews and recommendations.
Another method you can try as a business to monetize your app if you are looking to maintain the engagement of your high-value customers. The principle is the same as sending push notifications to your customers but instead you send SMS to their phone inboxes. This is very effective if you want to drive your customers that have been not using your app back to it. It is a very fruitful tool to maintain a high customer engagement ratio and keep your app going on the long term.
An additional way to monetize your app is in-app purchases. This is generally present with games where customers pay no upfront cost when they install the app, but they later have the opportunity to directly interact with your product and spend their money. Business can use this strategy too. This is can be done by allowing your customers to buy physical products via your app or if you are a service-providing business, you can allow in-app billing. As mentioned above, this is a good tool to make customers have direct interaction with your product.
If your business is trying to increase its reach and step up its monetization game, sponsorship and partnership are what you should be doing. The idea is to share and host advertisements of another’s brand app or interactive element otherwise available in your partner’s app. Your partner’s logo can also appear on your app along with a banner add to get your customers to download their app. This is known as a click-through rate and it can be drastically increased if your brand develops strong partnerships with other brands. They key here, however, is finding partners with the same customer base also partners that can bring about upgrades to your customers’ user experience.
Last but not least, a subscription model can be used to monetize your business. This strategy can be seen in practice in business that update their content daily such as The New York Times or The Economist. You can offer your customers limited free access to your content or they can sign up and be billed to have access to your new content. To make your app more profitable, you can make several subscription models and include an all-encompassing one. Some customers like to access content on certain devices and not others while others like to access content on any of their devices. It is important that your business can provide such a possibility to your customers to keep the customer retention ratio high.
How apps disrupt businesses
These are general ways in which mobile apps can disrupt your business in any industry. However, considering the fast pace in which industries evolve and the swift rhythm of change they are characterized by, it is very wise to break down the benefits that mobile apps can bring in the respective industries.
In the following part, we are going to review how apps not only give you the edge over your competitors as a business but also how it gives you the opportunity to lead the market as you can disrupt the whole industry.
It is very important to be cognizant about the changes that mobile apps can bring to business and industries alike in order to reap their benefits. So, first, we are going to get a look at the retail industry.
Whether you are running a gymnasium or a yoga center, it is very important, perhaps crucial, that your business offers a mobile experience for your customers. As health influencers become more and more present in our digital life, hitting the gym became more than just a mere new year’s resolution.
As a business that offers such services, it is of the utter importance that you invest in iPhone application development, Android application development or both to give yourself a competitive advantage.
Here’s how this works.
A mobile app will you allow you to reach your customers via push notifications to update them about the latest workout plans, meals, membership offers and so on. Moreover, the app will allow your customers to gain instant access to your contact information as well as your website which is a great channel to improve traffic on the latter. Such is the case of Gold’s Gym which came to us to develop their mobile application that yielded spectacular results: 50% increase in web and mobile traffic, 6k fitness plans updated, and 20k+ digital assets hosted.
If you wish to know more about Gold Gym, have a go at our study case and if you are looking for Mobile application in Montreal or Toronto, we are just one message away.
As the mobile apps become ever more influential on customers’ buying habits, as a retailing business you can benefit a lot from developing your own app. Let’s look at the ways an app can make you and your business flourish. If you are a B&M business that is your business has a physical presence in a building, mobile apps can be of use to you as it helps customer attraction. That can be achieved as follows. The first method relies on geolocation. This is a great technological tool that you can use to navigate your customers to your business; Here’s how this works.
As customers’ phones are continuously connected to the internet, you can use your apps to lead them to your nearest store or even give them the shortest itinerary to get there, perhaps even a combination of both. Furthermore, you can even allow your customers to save the itinerary offline, so they can navigate without a problem. The second method is referred to as beacon technology. The technology’s mechanics are easy to get your head around as its’ name is self-explanatory. Basically, when your app users enter a certain geographical zone of your determining, push notifications are sent to their mobile phones to present them with your latest offers and products.
Aside from customer attraction, a mobile app can help your customer build more loyalty towards your business with loyalty programs such as fidelity cards, personalized offers, and discounts, as well as coupons, can be integrated into the app which is also a huge cut in terms of marketing expenses.
Add to that, an app can give your customers a unique experience in the way they interact with your product using augmented reality. Customers will be able to see how your products fit in their homes, or how they look like in real life just using your app which is a significant improvement that can help you reduce the bounce rate of your sales or customer dissatisfaction. Add to that, AR and VR apps can help you offer a very special customer experience that other business can’t which is perfect for customer retention.
The travel industry is one of the most rapidly growing industries in the world. It’s an industry that serves millions of people worldwide; people asking for an effortless travel experience. As a business, it is crucial to meet customer expectations. Developing your own mobile app will help you not only meet customer expectation but better yet exceed them. Sounds good? Here’s how this is done. Before exploring the benefits of apps in the travel industry, it is mandatory to know that there are different sectors in the travel industry that apps can serve you in:
- Hotel booking
- Flight booking
- Local entertainment
It is up to you, as a business owner, to choose which segment you would like to explore or build an all-encompassing app whether it is going to be a native app or a pwa app; the choice is yours, but we can help you either way. Click here to know more.
Let’s explore the benefits, shall we? As the travel industry is heavily customer-centric, maintaining a high level of customer retention is important for your business to keep growing. A mobile application can do that for you. As the app has access to the user’s personal information, you can monitor and track customer’s data to help you understand their behavior and have exclusive insight in terms of their expectations from your app which can help you, thanks to Internet Artificial Intelligence, give pertinent ads that match the customers’ needs to an outstanding degree of precision.
Moreover, your mobile app can help you establish a trustworthy brand through an enhanced customer support system. Thanks to the omnipresence of the internet, your customers can reach you from any point in the globe. Whether they need you for an emergency or mere guidance, it is always beneficial for you as a business to be within the reaching grasp of your customers; it builds unparalleled brand loyalty.
Technology is advancing so swiftly that industries find themselves bound to adapt to the latest trends. The financial industry is one which cannot afford a slow adoption of these trends imposed by the innovation brought about the creator of disruptive technologies. As the financial institutions are very competitive, it is of utter importance to ensure that your business is not ill-equipped for the market.
A very secure way to ensure such a thing is by providing your business with a mobile application. Financial Technology, as known as, FinTech is the use of technological means to improve financial services. Mobile apps can help you improve your customer retention rate by offering a spectrum of possibilities such as doing instantaneous banking services to your customers. Through collecting the data of the customers while using while they are using the app, you can determine their preferences and by such provide a tailored service to their specific need which inevitably increases customer satisfaction.
Additionally, developing a mobile app can help reduce operating costs as customers can do their transactions and check their accounts online using the app. Customers thus save their time and money as they do not have to physically be present in the bank to have access to such services which in turn increases stuff productivity as there are lesser queues to cater.
Entertainment and Media
The entertainment and media industry has been completely revolutionized by mobile apps. According to the latest statistics, the most used 5 apps fall into that category. So, if your business falls into one of these industries, it is wise, if not mandatory, to develop your own mobile app.
Nowadays, the main focus in the industry has shifted from finding the information to filtering information. Thanks to social media, information has become quite abundant and people have easy access to it. But as a business, your main aim is to deliver the right content at the right time. Through a mobile app which allows gathering data from your customer, customer behavior analysis becomes a great tool to deliver the pertinent to each of your customers to heighten customer engagement.
Plus, customer behavior analysis permits you to deliver the right adds which also increases engagement, but also reduces the bounce rate. Another benefit worth mentioning is the reduction in marketing as everything can be done through the app. In other terms, no more billboards or printed adds.
As a further matter, offline content is another way to create more engagement with your customers and allow them to enjoy your service even when connected to the internet is not available. In short, a mobile application would give you a competitive edge in this sector.
As the world is becoming more and more mobile-centric, industries are doing the same particularly dating industry. This is an industry that has known a lot of growth during the past few years and has become quite powerful. Dating apps are also on the rise, but here’s why you actually need one.
The most important advantage an app can give you in the dating industry is increasing your visibility, therefore your customer base. As apps can be downloaded from the stores anywhere in the world, an app can offer you the most diversified customer base your business needs to thrive.
On the other hand, this also means making your app available in several languages to ensure that your customers know how to use your services. Moreover, as dating apps allow to increase brand loyalty if the security offered within your app is very good. Dating apps are becoming very abundant and in order to retain your customers, your security should be unparalleled.
The auto industry can benefit a lot from developing an in-car built app. The industry is already dependent on computer technology and it would be very profitable if car manufacturers develop their own apps.
Firstly, having your own mobile app surely increases sales as more and more customers are looking for smart car features like Bluetooth connectivity, music streaming like Spotify and so on. Building an app and include it in your car will attract new customers and increase your sales.
As another matter, it could also help provide customer support through internet connectivity which allows you to reach your customers in case of emergencies wherever they might be.
Mobile applications are a true driving force for myriad industries. It is changing the way business interact with their customers and is creating substantial shifts in the way customers behave. It is thereby important that your business adapts, so you could thrive for excellence. We have helped many businesses reach their potential and we can help you and your business, too. Send us a message and we will be in touch with you. In a nutshell, mobile app development is not a trend, it’s the future of businesses in whichever industry they may operate in. Start the journey today and chase greatness.