How Mobile App Development helps business growth. In the world of smartphone apps, Google Play Store for Android phones leads the industry with over 2.56 million apps with Apple Play Store following close behind with around 1.85 million apps today. The growing numbers of business apps have created an immense potential market. Statista predicts the number of smartphone owners to increase to an astounding 3.5 billion by end of 2020. According to figures by Sensor Tower, by mid-2020, Apple App Store and Google Play Store reported over 71.5 billion app downloads worldwide. A report by App Annie shows the increasing popularity of business apps, with over 546 million shopping apps downloaded on the App Store alone, which is a remarkable 40.1% increase year on year.
The global mobile app market finds the majority of users in the US, with every adult spending over 5 hours daily on their mobile phones. Smartphones are also becoming preferable to desktops, with 92% of user time spent on mobile apps and only 8% on web browsers.
These facts and figures highlight only the tip of the immense potential that mobile apps have for increasing sales and boosting business growth. Thus, start-ups, small businesses, and even large brands need to focus on mobile app development. Read on below to find out how mobile app development helps us in growing business in the most effective and efficient.
Ways that Mobile App Development Helps Boost Business Growth
Thanks to the immense numbers of mobile apps, consumers today expect companies from every sector and niche of the industry to have their own business apps. Business apps are steadily becoming a factor for trust for many aware consumers. Hence, far-sighted business owners are jumping on the bandwagon to tap the limitless potential of smartphone-centric consumers around the world.
Major Factors that Determine the Cost of Mobile App Development
Here are the top ways that mobile app development helps boost business growth:
1. Generating new sales
Generating new sales is extremely important, especially for businesses that rely on conventional online e-commerce websites for their operations. The consumer of today is constantly connected to their smartphones, so online business owners need to include mobile users in their marketing strategy. This is an excellent way to not only increase sales but also provide consumers with an easy-to-use, round-the-clock channel for access to your products. Various studies have shown that mobile business apps are performing remarkably better than e-commerce websites, with the average order through mobile apps being as much as US$ 10 higher than on mobile web browsers.
2. Increase customer retention
Every entrepreneur knows the importance of customer retention for business growth. Industry leaders, through their mobile app popularity, have proven how business mobile apps can help in improving the consumer experience. Better consumer experience naturally results in increasing the chances of customer retention. An excellent tip to ensure consumer retention through your business mobile app is to assure consumers of their data safety and privacy. Another tip to improve consumer retention is by focusing on providing increased efficiency. Adding a secure online payment gateway or allowing in-app purchase functions can help make your business app appear more consumer-centric.
3. Improve operational efficiency
Small businesses can benefit greatly from mobile apps. As operational efficiency is one of the main factors for growing a small business, it is recommended to include internal operational functions and, inter-departmental communication channels to bring down the overall operational costs. Thanks to the trend of work-from-home, there is an increasing demand for effective communication channels between different departments within the business. A well-designed business app can help the different departments to stay connected and work in synch more easily. The mobile app can also include relevant information and data that are frequently needed by associates and employees.
4. Reduce operational costs
Apart from targeting customers more precisely, there are several ways by which mobile apps can profit businesses. By providing a more efficient inter-departmental and customer-service communication channel, you can effectively ensure a smoother workflow. Another way to decrease operational costs through mobile apps is to include information-focused features that can help employees and consumers to find critical information quickly and easily. When you reduce the use of conventional records for business operations, you inherently avoid the cost of storage and classification of company data, thus lowering the overall operational cost remarkably.
5. Earning from App Stores
Small businesses and start-ups from the subscription-based industry can benefit greatly from mobile apps. Such businesses are always looking to improve their conversion ratio and creating a mobile app is an effective way. Businesses with subscription-based revenue models can offer multiple tiers of subscription through their mobile apps. Offering an app, instead of the product upfront, has shown a conversion rate of 60% from free trial users. This is a clear indication of the immense convincing power of business mobile apps.
It is vital to create a well-designed and easy-to-use mobile app to increase the chances of its success. Hence, always make sure to choose a mobile app development company that has a team of experts on board and relevant experience in your particular industrial niche.