Mobile Apps are the latest way to promote business. They are the perfect way to make technology work for a business, help with market growth and generate revenue and profits. Mobile apps are very versatile as one app can serve multiple purposes. While initially the apps were launched for just better reach, lately businesses have realized the boosting effect they have on the revenue front. Mobile apps give users the freedom to access products and services on-the-go. They love the fact that they can buy whatever they want, whenever they want and wherever they want. Better internet services have also made consumers use apps in a better way. Getting a host of products on their finger-tips is exciting as a customer. These entire factors and more make a mobile app an apt way for businesses to fuel their revenue.
An App of All Trades
An app can be the proverbial Jack of all trades for one’s business doing more than one realizes. An independent study suggests that by the end of 2017, mobile apps were downloaded more than 270 billion times generating around $78 billion in revenue. Mobile apps have a higher usage rate than websites. They also are the preferable way to shop for customers using smartphones. The added visual appeal to products helps to increase the sale too. Just in case a business needs more reasons to develop a mobile app for boosting their revenue, here are some worthy reasons that drive this philosophy.
A mobile app lets a business reach across the globe. So the products and services are bought, used and reviewed by not just local people but global too. Many local arts and delicacies are being revived, thanks to special apps that have made them popular. The app store is open all the year round enabling business to run all the time and cater to different time zones as well without any hassle.
Better Customer Engagement
Remember the old adage “Customer is King”? Well, what better way to engage the king than a mobile app. With a business app creating a special space on the customer’s smartphones one can connect with them in real-time using push notifications, event reminders, a special app only offers and more. These also help in creating a loyal customer base. Special loyalty bonuses over apps are a norm to engage and delight the customer
Enhanced Brand Recognition
With an app, the business is ever-present in the customer’s mind. Every time they look into their smartphone, they are reminded of the business brand through the app and its logo. It helps in brand promotion, brand recall and increases online sales. A great app experience is bound to make customers re-use the app and the services being offered. They also recommend it to their friends and families thus generating potential customers. This helps in generating word of mouth publicity for the brand.
A dedicated mobile app lets genuine customers give accurate and real-time feedback to the business. A feedback is always good for business growth and knowing that it comes from a genuine buyer and not just a random troll makes it even more beneficial. Businesses can easily handle feedbacks and service requests through the app. Customers always appreciate a business which listens to them and is prompt in attending to their requests.
Increased Revenue sources
Sales through the app will always remain the main revenue source. But an app can let a business fuel the revenue through various monetization options as well. The play stores options of in-app advertising or in-app purchasing can add up to the revenue.
Using an app gets your business a better insight into customer preferences, buying habits, demography, location and more. These data can be effectively used by business analytics tools to help increase revenue by pushing more relevant content. Good analysis and relevant content often lead from passive browsing to active buying over an app.
Mobile apps are the new parameter to gauge the presence and brand value of a business in the market. They show that human beings and technology together can boost business revenue like never before. The current trend of creating mobile apps is fuelling a whole niche industry which deals in designing, creating and maintaining mobile apps. Creating a unique and attractive mobile app will soon be an integral part of business development. The trend predicts that a business idea will now need a mobile app to complement it.