Today’s digital customers expect everything to be available at their fingertips. Mobile applications enable these customers to reach out the companies and interact with them on an unremittingly handy digital medium, i.e., mobile phones. According to recent reports, mobile apps are forecasted to generate a whopping 189 billion USD in revenues by the end of 2020, which is more than double of the 77 billion USD, estimated for the current year. With mobile users presently investing over 52% of their digital media time on mobile apps and increasingly becoming dependent on them, this growth is realistic and expected to be continued more aggressively.
Stats say it all, but actually in what ways mobile applications are actually doing it all? How are they opening new revenue channels for the business, increasing repeat customers, and even paving ways for new and increased traffic sources? Why today, developing and designing a mobile app has made its way to the top of the to-do list for launching a company and subsequently promoting it. If you have same questions popping into your brain and wish to know how mobile applications fuel the business growth, the points below may help you out…
With the number of mobile phone users surpassing 5 billion in the middle of 2017, it goes without saying that a mobile app would tap on various new customer sources that would’ve been left out on the web. The potential customers of any business niche are constantly using their mobile phones to access the internet, an engaging, convenient, valuable, and time-saving mobile app would definitely be welcomed by these mobile users.
On an average, a person spends 4 hours 5 minutes on mobile device daily, which is about 120 hours per month and 60 days a year! Now imagine your company’s logo and slogan visible on their mobile screens every time they browse through their phone. It is impossible to not remember the brand logo and tagline when it is there on their mobile screen 24×7. Getting the mobile app designer to create a mobile application with the company logo as display icon has been proven to boost brand recognition.
As compared to mobile websites, mobile apps offer a higher ROI to the business. While mobile websites are said to bring in 39% returns on investment, a mobile app offers a much higher ROI of 61%. Not just ROI, for many businesses, mobile apps pave a new path for revenue generation. Apps that are built solely for the purpose of revenue generation like eCommerce apps, hotel booking apps, ticket reservation apps etc., have a much higher ROI.
Mobile apps come with various functionalities like push notifications, reminders, alerts, etc. All these functions, along with the beacon and geofencing technology, are becoming an attractive way to boost customer engagement. Businesses are investing in intuitive web app development and design to boost the engagement of the customers. Mobile apps also offer tailored user experience according to the in-app behavior and data collected like age, gender and other preferences of the customers; thus improving the engagement.
Every sign in on a mobile app redirects the customer through a small form that provides a lot of crucial data. Be it the customer age, gender, preferences, last searches or even real-time location, mobile applications collect a lot of data to offer a personalized experience to the customers. It also enables the businesses to keep a tab on all the stages of the customer journey. By sending personalized marketing notifications like discounts, vouchers, coupons, related items, timeout offers, etc., businesses can ensure a successful transaction.
As compared to the repeat customers witnessed by mobile websites (14%), mobile applications have a much higher percentile at 86. Mobile applications that are built around customer loyalty increase the inflow of repeat customers for any business. The customers prefer making transactions with a business whose app they already have on their phones rather than going online on other competitor’s website. The personalized services offered by mobile apps help in nurturing customer relationships and building loyalty.
Mobile apps can be leveraged as a great promotion tool among the existing as well as new customers. Whether it is a sale, new product launch or an event, promoting it through the in-app push and pull notifications can be a great way to grasp the fancy of the users. These in-app notifications and advertisements get the instant attention of the customers and effectively promote your business to them.
Instead of googling a business’ customer support or FAQ page, mobile apps have a built-in customer support page that helps any business provide an excellent customer support functionality. Business mobile apps majorly have a contact us page where customers have the business’ mobile number or email id as well which is clickable and lets the customer make a call or send emails directly from their smartphone. This customer support and service increases their loyalty and leads to an effective business growth.
Well, the more we think about it, the more we come to realize that mobile applications are playing a crucial role in the growth of any type of business. Customers are spending more and more time on mobile devices; that’s why having an application that stays fixed on their screens is imperative for any business. These apps not only boost efficiency, productivity, and user-experience but also provide a competitive edge to the businesses. In fact, they also help in tapping on new revenue sources for the businesses while fueling the overall business growth in several ways.
Author Bio: Anurag Gupta is a budding entrepreneur with stakes in WeblinkIndia.net an acclaimed Web Designing & Development Company, headquartered in India. He also happens to be a keen writer, sharing insights, tips, and tutorials on subjects related to the ever-evolving landscape of Web Designing and Development.
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