People spend 90% of their screen time on mobile applications. It isn’t surprising that smartphone users at least have 46 to 47 apps installed on their devices. These numbers speak for themselves as to how extremely important mobile apps are. You will be left mindblown knowing that between 2019 to 2021, customers in the US began using more medical, finance, food, news, and education apps.
It is clear from the statistics stated above that mobiles are now one of our ‘basic’ necessities and businesses have already realized their importance. And, that is one reason why the global mobile application market size is anticipated to grow at a 13.8% CAGR from 2023 to 2030.
Reasons for Higher Mobile App Development
Here are some of the reasons why more and more businesses are investing in developing mobile apps.
Enhanced customer experience
Customers may access almost every service you offer be it taxi booking, buying medicines, scheduling a massage, etc. anytime, around the clock. Regardless of the location, business hours, or other limitations, you can better serve your customers.
Simply put, by using a mobile app, you can provide a better experience to users, gain quicker customer loyalty, and enhance sales by simply launching a mobile app.
Using mobile apps, businesses can collect more information about their customers and in return, provide them with better-personalized offers. Offering a personal touch to customers will help them to connect with your business and come back to your mobile app every time they need the service/product.
For example, if you Launch Uber Clone for your taxi business, you can easily access Advanced Analytics. Using this report, you will be able to learn about the commissions earned, the number of rides booked, preferred payment method, high-demand areas, users frequently using your app, etc.
Thus, with more insights, you will be able to offer more personalized deals and discounts to your customers.
Higher Returns on Investment (ROI)
Mobile apps help businesses to remain online 24/7. Thus, keeping your platform accessible to all, all the time.
Providing such convenience means you will be able to attract more sales, and thus, make more money.
Moreover, with mobile apps, you will be taking commissions on every service booked on the system, making the cash flow more seamless.
Thus, with less investment, you make more money.
How Much Does It Cost to Develop a Mobile App?
According to multiple surveys done by Clutch and GoodFirms, the average mobile app development costs between $40,000 to $300,000 and even more. However, the actual cost that is required to develop varies greatly depending on its complexity and size.
Besides, other key metrics are involved in deciding the cost of mobile app development such as:
● Business model
● Time to market
● Development approach
● Expertise of the team
● Location and size of the team
● Hiring model
● Type of mobile app
Besides, the platforms you want to launch also affects the cost of the entire project. Say, you want to develop a KIOSK app, iWatch app, a website, supporting panels, etc.
Such a huge cost involves a lot of contemplation.
However, a few ways are using which business owners can reduce the cost of app development easily.
Tips to Decrease App Development Costs
Luckily, businesses can reduce the cost of development. Let’s look at the different tips.
Choosing the right development approach
To develop a mobile app like Uber, Gojek, Grab, GubHub, etc., one rarely needs to go through all the pain of building the app from scratch.
It is best to simply look for a ready-made solution. Businesses can get the app white-labeled with all the features, services, and other technical components like payment gateways, currencies, and languages.
The ready-made app will be launched under your brand name and logo. Moreover, with native iOS and Android apps, you will get scripts for a website, KIOSK app, iWatch app, admin panel, etc.
Time to market
Businesses often make the mistake of hiring too many experts to quickly get the job done. This usually creates chaos and leads to errors.
Thus, rather than getting things done quickly, it may take double the time, double the money, and double the effort.
Therefore, it is advisable to take things slow, and rather than working on things to increase the delivery speed, get a pre-built solution instead.
With this solution, businesses can quickly launch the business they want. It merely takes a week or two for white-labeling experts to develop the app as per your business requirements and launch it on app stores.
Team expertise and size
Although smaller teams are more productive their expertise matters too. You cannot build a high-end mobile app for your business by hiring a team of only freshers. You need experts who have worked on similar products in the past.
But, hiring a team of experts also means that you need to invest a lot in paying six-figure salaries to them.
Well, the solution is simple. Rather than outsourcing an entire team, go for buying ready-made solutions. The app development company you would be buying the solution from will white-label the app and customize it as per your requirements without charging you any extra penny.
Isn’t getting a pre-built solution easier, better, and more cost-effective?
To win a bigger mobile target audience, you must first create a solid mobile app. It has several advantages including enhancing your customer service, increasing your profits, strengthening brand recognition, and more.
Well, you can estimate how much it will cost to develop an app for your business if you have a clear idea about what you want.
However, if you want to reduce the cost of app development without compromising quality, reach out to the best white-labeling firm you can find!