Investing in Mobile Apps; All You Should Know

Are you an app development expert who wants to capitalize on his/her skills? If the answer is yes, you’ve come to the right place as we are about to explain everything there is to know prior to investing in mobile apps.

credit: Adobe

Let’s begin with the benefits. Mobile app investments give you all sorts of practical advantages because apps can reach the global audience, raise brand awareness, advertise, grow conversions, and many more.

However, keep in mind that the number of mobile apps has reached nearly nine million in 2020. From gaming and eCommerce to booking and food delivery, you can already find an app for almost anything you need. In such circumstances, mobile app investments demand extra caution and force you to think twice about every aspect of the process.

Here are six things you must analyze before investing in app development.

1. Research the market

We already mentioned the number of apps currently available online, which means that you have to ask yourself a simple question: Is my app so necessary after all?

This is a critical moment that you need to be aware of because your project will probably turn out to be a failure if there are hundreds of similar high-quality apps available on the market already.

The only thing that makes sense is to come up with a brand new mobile app idea or launch an app that is significantly better than all the existing ones. If you can’t do that, there is probably no need to invest in your business idea.

2. Think about profitability

If you are sure that your mobile app is unique, then you need to take the extra step and think about its profitability. It is essential to assess the number of downloads and understand whether your target audience is ready to pay for the product or make in-app purchases.

3. Set the budget

Do you know that medium complexity apps like WhatsApp or QuizUp cost between $61 and $69 thousand? App development is by no means a cheap process, but it all varies on your demands and the expected palette of features.

In each case, your job is to set the budget well in advance because you’ll only get what you pay for. There are two major components in app development:

  • App programming
  • App design

If you could solve any of these two equations internally, it would grant you a huge decrease in the total costs of the app.

4. Take care of UX

A recent survey revealed that 90% of users have stopped using an app due to poor performance. It’s a warning sign that highlights the importance of user experience (UX), so you’ll need to think about making the app suitable for the average client.

You can do it in many different ways, but we recommend the following:

  • Simplify the app to make it look neat and clean
  • Ensure that it’s easy to navigate
  • Enlarge important elements and minimize or eliminate irrelevant details
  • Make the app speedy and fully functional

5. Create a good marketing plan

Let’s say you’ve successfully designed and launched a mobile app. It’s a big leap forward, but your work does not end there. You still need to create a good marketing plan and promote the app in order to approach the target audience.

First of all, you should optimize the app description to help app store searchers find it using keywords. Secondly, find the most relevant online communication channels to inform target users of your latest release. And thirdly, don’t be afraid of advertising your product via Google or Facebook Ads until you earn enough attention.

6. Beware of security

A report claims that at least one in 36 mobile devices has a high-risk app installed. We bet you don’t want to launch that risky app and jeopardize the reputation of the company, so do your best to fulfill all security standards. Besides that, don’t ask for more user-related data than you really need. Just stick to the essentials and you won’t have a problem with users’ complaints.

Up to You!

Launching a mobile app can turn out to be a profitable investment in 2020, but you have to be very careful and design a product that perfectly fits the existing market demands. In this post, we showed you the most important details you should know before investing in mobile apps. Do you have any other investment criteria to share with our readers?

AUTHOR BIO
Thomas Lanigan is a tech guru and a blogger at Bestessay.com. He is interested in numerous topics, including app development, IT trends, web design, business, and finance. Apart from writing, Thomas enjoys traveling and meeting new people and cultures.

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