In a digital world, customers are getting almost everything done through their mobile. Mobile applications are being used by a wide range of businesses. Most mobile applications belong to the gaming and entertainment industries but the world of apps is now expanding with various functions like e-commerce, banking, and retail. Today, developing and designing a mobile app is part of the main strategies for a company launching its product lines. Mobile applications contribute immensely towards business revenue growth by helping businesses acquire the customers and creating brand awareness.
Mobile applications help customers interact with companies through their handy devices like smartphones. It is estimated that mobile users spend more than half of their digital time on mobile apps. They are dependent on mobile apps for many of their tasks. With mobile use expected to become more common, companies are aggressively pursuing their marketing strategies to grab more customers. The return on the investment made in the apps is very high as these apps enhance customer engagement.
The niche products of businesses need equally potential customers to build up the market. With their smartphones these customers will definitely prefer a convenient and time-saving mobile application over other means to interact with the businesses. Promoting the brand recognition is another advantage of mobile apps. Average users spend more than four hours on their mobile devices. If the company logo is displayed on the home screens of their mobile, they will be reminded of the brand. The designers of mobile apps, therefore, try to put the company logo as the icon of the app which can be made visible every time the user brows his mobile. This is known to be the effective method for promoting brand recognition.
Engaging the Users
Mobile apps with features like notifications and reminders are essential for customer engagement. As a result, mobile apps are developed with intuitive designs to boost the engagement of customers. Mobile applications offer customized user experience based on the data like age, gender and other preferences of the customers. Personalized marketing strategies like discounts, related items, vouchers, and coupons will boost the sales as the app can display the range of products available based on the interest and buying trend analysis of the customer. It makes businesses able to engage the customer at all stages of the customer’s journey.
Customer Service Support
The best part of mobile apps is that they offer customer service round the clock right within the app itself. Sometimes the chat or call facility is included along with messaging features. Most business apps made for mobiles have a contact us page where customers can contact the customer service team with just a click. This kind of customer service surely adds to business growth.
Business Intelligence through Data
Mobile apps are in possession of crucial data about the users. Their buying trends, things they like, locations and history of monetary transactions are some of the examples on which the valuable data is stored or accessed through mobile apps. This data can be converted into meaningful information for business decisions. Artificial intelligence can also help businesses understand the customer’s needs better for the business insights and improved business intelligence.
Return on Investment
Mobile applications offer a higher Return on Investment businesses compared to websites. It is estimated that apps provide as high as 61 % return on investment. For many businesses, mobile apps are part of the strategies for revenue generation. In fact, companies operating in e-commerce, hotel booking, and ticket reservations are developing mobile apps exclusively for the purpose of revenue generation. These apps give a much higher ROI.
More businesses today are gearing up to improve their mobile apps for the way of customers’ interactions, providing better products and services to boost their bottom lines. Estimates indicate that there are around 270 billion app downloads by the users which have the potential to generate 78 billion USD in revenue. If a business owner desires to stay ahead of the market competition, then the mobile application is a must. Market potential stands hugely as the total value of goods and services purchased via mobiles is still very small compared to a total value of retail purchases. The significance, competitiveness, and usefulness of the app will be a decisive factor which fuels the productivity and business revenue growth.