Currently, the mobile apps are changing the way we interact with each other. Both big enterprises and small businesses are taking advantage of this digital trend. Most businesses such as school, retailers, hospitals, restaurants, hotels, and airlines are experimenting with mobile apps and are enjoying improved customer loyalty.
As per a 2016 survey done for small and medium businesses who have developed their mobile app; 55% of the companies saw an increase in sales and 50% saw improved customer experience. Those who own smartphones are spending 89% of their time using mobile apps. As a result, mobile usage has become a great source of information for tracking consumer behavior and choices.
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Most companies build apps based on certain unique features, a line of business and target audiences. Some of the latest trends are:
- Food ordering apps
- Health apps to spread health awareness
- Booking appointment for Doctors
- Scheduling Calendar for Meetings
- Payment gateways and NFC to make cashless payment
Let us evaluate some benefits of the Mobile Apps particularly for Small and Medium businesses
Give more value to customers
Mobile apps are faster, quicker and easy to launch compared to websites. It allows to connecting with your business easily. Clients can reach out via mobile app 24 x 7. You can quickly respond to customer queries and solve issues by following user-centric approach. This, in turn, builds customer loyalty and retention.
Enhances brand visibility
The mobile app has the capability to provide the user with what they need. It can serve multiple actions at the same time like play music, watch photos, receive notifications, chat and many more. If a customer sees a brand more frequently, then it creates a positive impression and enhances the company recognition.
Role based access
The app can be designed in such a way that accesses are given as per their role to improve organization efficiency, For instance – Different login for parents and teachers in a school app. It has the capability to merge the entire workflow into one app. You can send alert information according to the targeted audience such as sending notification of parent-teacher meeting in a parent group.
There is no need to launch a website and wait for the information to load. As most of the information is stored in a mobile app, certain features can be used offline.
Smooth flow of information
You can easily integrate social media and features like messaging, photo sharing and commenting. This approach creates an increase in customers’ attention, repeated sales and revenue growth. There are chances that potentially leads becoming your real client.
The business mobile apps add a promotional channel to drive sales. Be it a new product, deal, booking a reservation, personal training studio, unlocking coupons, the mobile app makes it convenient to browse offerings and buy the order through a few clicks.
Let understand Cost Model
There are mainly two types of cost models
First, At Actual – The total application development cost is charged to the client. This model is more suitable when you have a unique requirement of the mobile app.
Second, Subscription Based– In this model, the client is required to paid monthly or take an annual subscription for the mobile app usage. Usually, these are feature loaded ready to use business mobile apps with minimal configurations. This model is more suitable for small and medium business where the requirement is not entirely unique or is somewhat unique.
ROI on a mobile app for your business can be measured on a long-term basis. One can obtain immediate ROI by adopting to pay per download model. It is not a favorite model as it creates high expectations from the client and users are expected to pay without using the app. However, one can allow free downloading of the app and still can achieve ROI by advertising, by charging a fee for premium features or taking a service based on subscription. A decent return on ROI can be accomplished if the app provides a service that is useful and fulfills the requirements of potential customers.
Finally, with the rise of smartphones and internet connectivity, there is a shift from E-commerce to M-commerce. It is high time to adapt the business according to the changing trends. The organization can use the power of mobile apps to monitor supply chain, understand the users’ data and streamline the business process for its future growth.