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Start A Mobile App to Make Business Profitable
18 February 2019

A Mobile App to Make Business Profitable

Estimated reading time Time 5 to read

Ever since the concept of mobile apps has entered into the market, it has transformed the way businesses worked. “You know, there’s an app for this” is the phrase that we hear often these days. Yes, today we see apps for almost every category – utilities, entertainment, gaming, health, lifestyle, social networking, news and the list is never-ending. Life has become easier by all means; whether you are choosing a vacation destination to book your flight or reserving a restaurant for dinner.

The growing trend of mobile apps

It all started with the increasing use of smartphones. According to Pew, 68% of the Americans use a smartphone and they probably spend around 162 minutes on the apps. This directly implies that having a mobile app can help you reach your target audience easily. You really have a great chance of making your business grow exponentially by providing your customers with the cutting-edge benefits through your app.

Following are the benefits that you can avail from building your own mobile platform:

For Your Business

  • You are visible and accessible to your customers at all times.
  • You are able to create a direct marketing channel.
  • You can provide value to your customers.
  • You are able to build a brand and create recognition amongst your target audience.
  • You can direct your efforts towards improving your customer engagement.
  • You can stand out from the competition.
  • You can cultivate customer loyalty.

For Your Customer

  • They are able to get easy access to your inventory.
  • They can get notified about special offers, events, launches, etc.
  • They can minimise their buying time by having one-touch access to your contact information.
  • They are able to take appointments easily.

The presence of mobile apps is sure to assist in creating brand recognition, increased sales and ultimately increased profits. But, there’s definitely a road that you need to travel to reach the success – your ultimate destination.

Developing a mobile app itself needs a lot of research and development. After all, you need to ensure that the app is user-friendly, has exquisite features and provides all the facilities that your target audience demands. Amidst all the market and consumer understanding, one most fascinating question that may strike you as a business is – how to make money from the mobile app?

The first and foremost thing is to decide whether you want a free app or a paid app. A free app can definitely get you more downloads, but how is it going to benefit you? Is it better to have a low-priced mobile app or in-app purchases?In-app ads. The concept of in-app ads is known to all. Ad networks like AdMob by Google and iAds by Apple can be of help here. But, in order to make a good profit from your free app offering, you’ll require a lot of downloads and high traffic.

Free app vs. paid app

When you build a free app, the user does not have the access to all the features. And, if they want, there’s a link attached to it for the advanced features. This link redirects the user to the premium version of the app where they will need to pay a one-time fee.

The users tend to download free apps which are basically the demo versions. So, your job lies in creating the app in such a way that entices them to buy the paid version. Once you have convinced the user to download the full version of the app, you have won the battle.

Image: author

 But, be sure to add such features in the free version that are able to convince the user to opt for the upgraded one. The idea is to offer unique, but not the best features in the free version. So, if they are keen on using the advanced features, they will have to pay some amount against it.

The other element that cannot be overlooked here is the ads. You can provide the user with a facility of eliminating the ads if they are getting the premium version of your mobile app. On the other hand, if they want to stick to your free version, you can still earn from your ads. So, it’s a kind of a win-win situation for you.

Though, your aim must be convincing the user to opt for the paid version. After all, you’d want to make the most out of your app business, right?

In-app purchases or low-priced mobile apps

Did you know? Providing the app at a low price will not help you in making profits. At the same time, the free apps that come with an in-app purchase can work in your favour. For instance, you have a free mobile gaming app that asks the user to buy stuff within the game. As the users are highly fascinated to win, they get easily convinced to buy them with the hope of getting the rewards and clearing the difficult stages.

Thus, instead of coming up with a low-budget app, it is always recommended to come up with a free app that has the concept of in-app purchases.

To sum it up, if you are having a paid app, you are bound to earn. And, in case you are building a free app, the two key factors that can help you make money are in-app advertising and in-app purchases.

Well, that’s not it! How can you make your app successful when its elements work against the needs of your target audience?

You’ll need to make conscious efforts in building an app that is customer-centric; i.e. which revolves around the needs and preferences of the customer. Pertaining to this, there are certain factors that you’ll need to take into account. Take a look!

Additional factor to create a successful app

  • Compatibility with the mobile platforms. You need to ensure that your app is totally compatible with the mobile platform for which it has been developed. It should provide familiar yet unique features and the best UI experience to your users.
  • Steady performance. The performance of your app needs to be consistent. Build an app that functions without any glitches and consumes the minimum possible battery and computing power.
  • Utility. It is simple; an app can be successful only if it provides something distinctive to the users and aids in making their life easier. A mobile app that has unique features and ways to keep the users engaged is bound to succeed.
  • Less loading time. Users tend to avoid using the apps that take a lot of time to load. If your app requires a large quantity of data to start, make sure to engage them in something interesting by letting them know that the app is in the process of loading.

Apart from building the app enriched with exquisite features, marketing it too can help you big time in making a lot of money. Use social networks to promote your app, introduce your app to the existing customers, collaborate with other companies for shared benefits and participate actively on forums while interacting with your potential customers. Investing your efforts this way can bring a noticeable difference to your brand recognition.

Making a user-centric app 

To conclude, first of all, creating a mobile app is definitely the need of the hour, no matter which industry you belong to. Secondly, you need to build an app in a way that provides the users everything they want – in terms of UI, features and assistance.  There are never-ending opportunities that you can explore and provide it to your end users through your app. So, get going with your mobile app whilst experiencing everything ‘more’ – recognition, profitability and success of your business.  

 

Nirav Shastri

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