How to Know If Building a Mobile App Is Worth It
Brands rush to build mobile apps for their businesses, believing their clients expect it. It’s no wonder since the news is filled with statistics trumpeting the value of mobile apps: Some research suggests mobile apps will generate over $180 billion by the end of 2020; Nearly 50% of people using devices open apps 11+ times a day; and, 57% of all digital media usage comes from mobile app use.
These data aren’t the whole story, however. Other research notes that 23% of users only use a mobile app one time and abandon it entirely after three months. Deciding if a mobile app is right for your brand is just the first step. You’ll also have to decide what type of mobile app you should develop. Getting the most out of mobile app development will mean getting the right information to make some tough decisions.
Related: Need a Mobile App? Things You Should Consider
Market Research
An excellent first step to take when trying to decide if a mobile app will help your brand grow is to look at your competitors. Examine their strategy to assess their strengths and weaknesses. You can learn a lot just by reading what their customers have to say on social media.
Once you have a good idea about what works and what doesn’t, you’ll be able to navigate around your competitors’ mistakes and improve on their successes. Additionally, performing market research will help determine if developing a mobile app will deliver value for your brand.
Learn Customer Needs
You should fully understand the value the app will provide your clients. What will the app do that your customers want or need? How does a mobile app fit in with your overall business objectives?
Answering those questions honestly will help focus and clarify your need for a mobile app. Hone your argument for the development of an app to a few sentences so that all key stakeholders agree on outcomes. Articulating the key benefits a mobile app will provide your customers in this way will not only increase your chance of success, but it will also give you confidence that your decision to build an app (or not) is the right one.
Return on Investment
There are a number of ways to generate revenue from a mobile app, from online sales to offering a subscription service, to in-app advertisements. If your app exists as a service for your customers, you may need to develop other metrics to determine the project’s success. For example, you may need to collect data from the way your customers use your app to know whether the app is fulfilling its intended purpose.
Before beginning development, you need to detail your expectations for your app and understand how you expect it to pay for itself. Without doing this critical work, you may persist in a development effort that costs more than it’s worth.
Expert Advice
Working through the details of mobile app development is complex. Not only do you need to determine whether to build an app, but you also need to decide what kind of app to build. You may not even have all the information necessary to make an informed decision. For instance, in some cases, it may be possible to create a relatively inexpensive Progressive Web App (PWA) as a minimally viable product to test your ideas before committing to a fully native build.
To help with the process, many brands find partnering with a full-service custom software and web development agency aids in the decision-making process. Through a rigorous Discovery and Definition phase, an expert team can assist you in answering the many questions that come with mobile app development.
StudioLabs has more than 16 years of experience in creating award-winning mobile apps and websites. Some of our clients have been with us for a decade or more. We have the critical expertise needed to help you determine whether a mobile app is right for you, and if so, what kind. Contact us now for more information!