How to Build a Successful App for Your Business
Today’s app market is highly volatile and competitive. Even if you see apps winning today, they might disappear tomorrow and become forgotten. Before you research how to make a successful app, you should find out what makes an app successful.
But first things first: why should you develop an app for your business? Well, there are certainly a lot of reasons why you should. One of those reasons is engagement. An app is a tool for your customers and clients to engage with your business without going to your store physically. It can also be a reward tool, just like how some food businesses like Starbucks offer rewards for regular purchases through their app.
The point here is that if you don’t want to develop an app for your business, that’s fine. But if you’re going to interact more with your customers, an app is a good tool for that.
If you’re interested in developing an app, here are some crucial tips to help you get started.
Conduct Market Research
Launching an app without doing market research is like going to a war without weapons. It’s extremely risky and dangerous, and taking uncalculated risks this early in app development is like a death sentence.
That said, before finalizing your app concept, you should conduct a market research first. It’s important to know your audience. So, knowing the current trend in the industry and what the audience wants is crucial.
App development is exciting. At first, you might want to get carried away. However, it could cause you many problems in the future. With that in mind, listening to customer feedback is essential. Many companies consult with merchants and agencies to get in touch with clients who will test the app.
Market research allows you to know what your customers want from your app. Once you know what your customers expect, you’ll be able to create features that’ll keep them happy and engaged.
Create a Mobile App Strategy
Creating a mobile app as a revenue generator can be lucrative. However, increasing your engagements and audience numbers can be difficult. That said, you need to build an app that can do both and one that tightly fits your business requirements. With that in mind, no matter how much money you pool into creating your business’ mobile app, it won’t matter if you don’t have a sound mobile app strategy.
With nearly two million apps in the App Store alone, you need to have an app that offers something unique or valuable to compel users to download your app. A mobile app strategy can help you achieve this.
The first thing you should consider in your app is the customer experience. Of course, if your app fails to do what your customers want to do, your app will fail. On that note, the idea is to make an interface that does what the customer wants, which will compel them to keep coming back to your app. However, designing a user interface can’t do the job alone.
Another key element of your mobile app strategy is the monetization scheme. Once you’ve built the app, you need to ensure that it would allure your customers to increase business engagement. That said, before you launch your app, you need to market it well so the customers will know about it. With a good mobile app strategy, you’ll be able to develop your app and increase its user base during launch.
Mobile App Marketing
Mobile app marketing involves making your users know about your app and giving them a reason they should download it. To do this effectively, you need to know who your customers are and where to find them. The typical way of doing it is to know about the funnel.
There are a few funnel stages, but the main ones are acquisition, activation, and retention. Acquisition refers to the first time they hear about your app, while activation is when they download and activate it for the first time on their phones. Meanwhile, retention is the stage where they visit the app routinely.
Of course, in each stage, there are things you can do to boost it more. This is where the functionality of the app comes in.
Funding Your Mobile App Development
Your app wouldn’t go past the concept stage without funding. Making an app isn’t free, but fortunately, there are several ways for you to fund the development of your app. But still, the best way for you to finance your app is through your business.
However, if you don’t want to spend a part of your cash flow for the development of your app, then you can do so with the most common way, which is business loans.
Business loans are just like traditional loans, except that they are used for business purposes. You apply for one, you get approved through certain factors and then, they give you the money.
Of course, it comes with interest and repayment terms, and if you can’t pay it back, your business’ credit will fall, or you can apply for either forbearance or deferment.
In student loans, the difference between forbearance and deferment is significant. The latter allows borrowers to hold off paying their loans or cut the cost of their monthly payments. Interest won’t accumulate since the government will pay for it. Meanwhile, forbearance works almost the same except that the government won’t pay for the interest, and interest will accrue.
The same goes for business loans, except in forbearance. The lender will forbear loan payment and instead opt for other legal remedies during a specific period.
Creating a mobile app for your business can be exciting, but it can also be challenging. However, with the right mobile app strategy, you’ll get a clear direction on how you want your app to be developed and its potential. In addition, knowing your audience, you’ll know what the customers want and adjust your app according to their needs.