The craze to make money through mobile apps is inextricable. Whereas some developers try different permutations without any results to show for, others have hit the jackpot overnight. Having analyzed a bevy of such case studies over roundtables, and after-office coffee-talks, we have our list of the mobile app monetization trends of 2021. Building an app isn’t an easy task, but this technological era provides you with the opportunity to create a million dollar app if proper process and guidelines are followed. 

As a luminary mobile app development company, Appinventiv has partners in every sector from healthcare to Edtech and other industries to obtain an engaging customer base and great ROI. We’ve seen first hand the most effective monetization tools for mobile apps, and with such validated expertise, look forward to empowering the entrepreneurs of new and old. 

Why bother monetizing your app?

Before we dive into the reasoning behind monetizing an application, let us clarify one of the biggest confusions – can free apps make money? Yes, they can. Here’s how. 

Apps have increased their user-reach multifold over the years. The below given chart appears to climb north in the foreseeable timeline as the internet and smartphones digitize our daily lives. By 2023, it is purported that apps would generate in excess of $935 billion in revenues, the primary drivers of which would be downloads and in-app advertisements. 

When it comes to millennials, 21% of the cohort opens an app as much as 50 times a day. With an estimated 72.1 million millennials in the US alone, you do the math!

Having cultivated a regular footfall of app traffic and not knowing how to monetize it, would be like having a treasure chest without a key. 

Identifying the Best Mobile App Monetization Strategy 

As the modern saying goes, money doesn’t grow on trees but is certainly minted in apps. Let us explore 8 impactful strategies and the reasons promulgating their adoption rate. However, as you digest these points, do note the factors that make up for a profitability-friendly application. 

Data Monetization 

Data makes digital businesses tick. The public readily gives apps all the permissions to collect “relevant” data in return for premium experiences. Algorithmists decipher the variety and volume of the data they need on each user so as to peel the peripheral layers of behavioral psychology and augment tactics that urge the buying patterns. This can be observed from the fact that Facebook has 52,000 data points on each user. 

Such intriguing insights were accessed by Cambridge Analytica by paying Facebook for unbridled data-access. Although the process of data-collection was questionable then, a legitimate market for data access has blossomed since making access to data, one of the hottest app monetization models.

When to use it  – to make a killing, your data must be BIG, literally. Big data is something that has volume, velocity and variety. The higher the number of data identifiers you collect, the more vendors you can sell it to. 

Premium 

You pay for the app before trying it out. This model is receding fast as people are reluctant to spend unless they trust the brand. Most often, mobile gamers partake in such apps that exercise a pay first, play later protocol. It is proven as a matter of fact that free apps are much easier to distribute than paid ones. So unless you are a billion-dollar organization with fever-pitch fanfare to try out your products, refrain from using it.

When to use it – if you have to use it, make sure the marketing budgets are tuned to perfection as the notion of paid apps takes hard-selling. Premium works best for brands that account for majority market share and can fend-off competition with a loyal base. 

Freemium 

There was a time when in order to monetize mobile apps, 98% of the applications in the market stuck to this model. While that time was in 2014,thus in 2021 freemium apps still account for 94% of the market share emerging as one of the dominant go-to android app monetization strategies. The idea is to open up a basic in-app functionality to users so that they get a hang of it and automatically opt-in for premium features by paying a fee. Those wondering how to make revenue on apps, would be flattered to know that user acquisition costs are lower for freemium apps. 

Freemium also provides the scope for incorporating secondary revenue mechanisms such as in-app advertising. In fact, mobile app developers use freemium as a hurdle for users to overcome and discarding-app ads. 

When to use it – we recommend using freemium when you have potentially better app features that people will pay for. The model works best when app sessions can be stretched for longer durations. Spotify would be one example. 

Subscription 

This is a one-word answer best suited to the question how to generate revenue from mobile apps? Usually, mobile app development services design a 3-tier subscription policy targeting users with the spending potential of basic, intermediate or advanced levels. Subscription plans can be classified over separate durations depending on their pricing. A subscription model gives first-time users the leeway to experiment and see for themselves the value proposition by paying a nominal fee.  

Whether you discuss android app monetization strategies or the ones applicable to iOS platforms as well, this model has been used to monetize mobile apps far and wide. Documented evidence suggests businesses opting for the subscription services have grown consistently over the last few years. The only thing you need to know is how to choose the right app pricing strategy. 

When to use it – This model is best-suited to content-heavy apps that tie users into a fallback loop and long-term app use. Examples include Medium, and Netflix. 

Sponsorships

Partnerships can take many forms. Our experience as a mobile application development company spells a common theme wherein one app invites a second one to leverage the user base, reward them for using the app, and mutually benefit from higher user engagement. For instance, Domino’s could offer extra discounts for ordering food from Uber Eats the kind it doesn’t on other apps. Conventional wisdom advises that there has to be a shared user base for the sponsorship model to prosper. 

When to Use it – It is mostly used by brands operating in the same domain. 

Advertising 

Come to think of it, this is just a byproduct of the data an app collects. The same is used by ad networks, to drive relevant ad-traffic to the app as you open the gates to advertisements. In case you were wondering how to monetize android apps under a mobile app monetization strategy, you can find multiple options to charge advertisers on CTC (click through rate), CPC (cost per click), and lead conversions. There are a plethora of app monetization platforms that the advertisers leverage to funnel decent amounts of revenue. Such mobile app monetization platforms include the following: 

• AdMob
• InMobi 
• Millennial Media 
• StartApp
• Linkury 
• AdColony 
• AudiencePlay 
• Audience Network 
• Media.net 
• Smaato
• Fyber 
• Unity Ads 
• MoPub 
• Chartboost 
• Epom Apps 
• SmartyAds 
• Leadbolt 
• IronSource 

In addition to them, you can run the following kind of ads on mobile apps: 

Rewarded Ads  

They reward ad viewers for going through the complete duration of the ad with say an extra discount coupon. 

Banner Ads 

They appear horizontally either at the top or at the bottom of the screen. The thing with banners is that they can irk people by intervening with the content by sometimes overlapping it. 

Interstitial Ads 

These are full-screen layovers and produce the best click through rates. Unless the designer screws up, there is little you can do to not get things right with interstitial ads. 

Native Ads 

They appear as part of the overall content on the screen. It is hard for viewers to distinguish whether it is even an ad or not (hence the name) a fact that increases the likelihood of a click through. 

When to use it – Advertisements should be used when you have an abundance of user data such as demographics, search/purchase history etc. 

In-App Purchases

Finally, in-app purchases are a tested and highly quantifiable revenue metric that app development services can play around with, while still keeping the app free to download. Users do not pay upfront but rather for add-ons that enhance and enlarge their in-app engagement. Few studies posits global revenues from in-app purchases at $71 billion for the year gone by. Popular types of in-app purchases implemented by gaming apps include the following: 

• Game currency 
• Extra health 
• Milestone points 
• Health Boost 

When to use it – this monetization model was successfully experimented with by the gaming industry following which content driven apps have also taken to it. 

Which is the Perfect-Fit Monetization Model for Your App?

The answer is embroiled in further queries that pertain to intricacies of your business goals. For starters, consider finding a black and white answer to the following questions: 

• What is your apps’ USP? 
• What is your app’s product market fit? 
• Would you sacrifice short-term revenues for long-haul users?  

The next-big monetization model could be held in your outlook and your approach towards consumerism. 

Mobile application development services like ours at Appinventiv have a record and reputation for conjuring innovation out of thin air. Well, that’s just an expression, but you get the point. Checkout our most hip-and-happening successes that earned us the laurels of being the best App Development Company of the Year.

The post App Monetization Guide: 7 Strategies and Models Overview appeared first on Appinventiv.

Appinventiv store is an application envisioned and developed by Appinventiv’s in-house expert. The idea behind the app is to offer a frictionless buying experience to the customers. 

Our aim is to unfold a new reality with the ‘scan and go’ technology using Magento 2. It is a future facing innovation that is redefining the shopping experience for both customers and retailers. 

Industry Application

The steep rise in contactless payments and the growing use of mobile payment services such as Apple Pay, Samsung Pay is a testament to the fact that consumers are embracing innovative technology. 

The need of the hour is to bring a disruptive change in Retail, and with our app we are taking shopping to the next level. 

We conducted detailed analysis and studied a ton of findings. As per a study conducted by GPShopper, 48% of US internet users believe that the scan-and-go technology would make shopping easier. And 43% would rather try scan-and-go than wait in a checkout line. 

Another research from Mulesoft found out that 60% of internet users worldwide would prefer to shop at other retailers if they offered a ‘just walk out’ experience. 

We targeted retail clothing stores because we wanted to make shopping simpler, faster and convenient. The whole waiting in line for an assistant to scan items and processing payments is a thing of the past. Our application eliminates the whole checkout process and overhauls the experience. 

Problem Scenarios

While the first problem we targeted with our app was eliminating the checkout process and rendering a wholesome shopping experience, the second problem that retailers experience more often than not is that of inventory management, especially during the sale  season. 

Clothing items being displaced from their original place of display often leads to a bad experience for the users and results in chances of missing out on the particular item. 

How we solve the problem: 

To solve the problem of inventory management, as a customer picks up an item and adds it to the cart, the retailer is notified that the said item has been picked up and new items need to be added. 

Typical User Journey: 

Upon downloading the appinventiv store app, you need to fill in your personal details, complete the KYC, and link it with your preferred payment cards. Then, choose the retailer of your choice. 

Scan your QR code as you enter the store. Take a cart. Your cart will be paired with the application. 

Each time you add an item to your physical cart, it will add the same to the virtual cart on your mobile app. 

If you don’t like the item, you can put it back and it will automatically be deleted from your virtual cart. Once you are done shopping, you can check out without having to stand in queues and just go. The amount is deducted from your preferred mode of payment.

We have built the prototype of the application and the entire admin panel is developed using Magento2.  

Advantages of using Appinventiv Store

The app offers a whole raft of features and advantages that are impossible to ignore. With our app, we are streamlining the in-store experience and combining it with the convenience of mobile shopping. 

• Frictionless buying experience. 
• Cost Savings 

• Efficiency improvements
• Customer empowerment 

With our app, retailers can also benefit from having an unprecedented insight into the customers’ purchasing data and shopping trends.

The post An app that is fundamentally changing how consumers shop in store appeared first on Appinventiv.

As appropriately summed up by Ben Horowitz, written communication is like a river that immerses everyone that comes in its contact. The same holds true in a business scenario as well.

Written communication is, indeed, a more unified way to exchange information about a software that every team member should be aware of. This is the reason why product managers invest their time in maintaining documentation of every task concerning the software.

It is understood that creating several documents for numerous processes helps keep the whole development process organized, avoiding unanticipated problems caused by misunderstandings.

To determine the importance of documentation for product managers, let’s look at some of the advantages of doing so.

Why Should Product Managers Focus on Documentation?

• To Develop a Precise Product Vision – Documentation helps product managers to identify the answers to all the “whys” in projects revolving around the main product. Writing everything helps the product managers make crucial decisions and get answers right at the beginning for questions such as “Who is the product for? ” and “why does the app needs to be developed?”. This eliminates any chance of confusion and mistakes.

• A Major Help in Planning – “You cannot assume that your product is the best solution — you need to plan for it to be.” Now, before anything, Planning is paramount. When managers document their vision in a clear and eloquent manner via creating stories, sprints, and goals, the whole development team is able to create a software aligned with users’ needs.

• Supports Timely Execution – Plans are futile if they are not implemented on time and in the right manner. To turn an app vision into a real and well-functioning application, a product manager uses documentation and establishes written communication with designers, engineers, etc. to nudge them in the right direction and execute the well-articulated plans.

• Keeps Team Members Accountable – By keeping documentation of all the tasks related to the product intact, a product manager can access a plethora of information about what team members are doing what and make them accountable for their share of tasks. Keeping a record of everything keep things simple and transparent.

• Customers’ Needs Are Fulfilled – By documenting everything from app idea to planning, product managers can easily access what features should be included in the application and what functions each must perform. Later, they can pass on this assessment to the team in a detailed and clear way so that the end product is exactly what users need.

Most Used Documents By Product Managers

1. Competitive Analysis Documents

“One way to know your actual advantage is to run a competitive analysis.”

Competitive analysis includes the study of the competitors’ products and services, market share, and their strengths and weaknesses. A competitive analysis document is prepared inclusive of all the above-mentioned parameters to share with the whole development. A product manager, only after extensively studying the competitors, finalizes what their app or software is going to be like.

A competitor’s table in the document may look a little like this:

• Name of the Competitor
• URL of the Competitor’s website
• Precise number of users it has  (to estimate the effectiveness of its products and services)
• Duration of the competitor’s presence in the market
• Specifics and specialty of competitors
• Cost of service/product
• Miscellaneous notes

The contents in the document can differ significantly since there are several types of analysis that product managers perform. Some of the prominent ones are capabilities analysis, Competitive landscape, Competitive differentiation analysis, Imitability Ladder, and Value Proposition analysis.

2. Product Strategy and Vision Documents

The product vision is something that paints a picture of the future of the product that we are striving to create. It can be in the form of a storyboard, a narrative or a prototype which aims to inspire teams, investors, and partners towards the product.

Product strategy is the sequence of products that are meant to be created until the final product is achieved.

One of the best skills of competent product managers is to create a product vision, but not just that. They need to develop a compelling product strategy as well in order to impart a clear perspective about the product. The product vision must be inspiring, and the product strategy must be very intentional. So, documents are created to record all of the data related to exploring what product may turn out to be and how to turn a vision into reality. Primarily, these documents are shared with the stakeholders for feedback.

3. Specs and Product Requirement Documents (PRDs)

Product Requirement Documents are an all-in-one-place documents to bring the distinct elements of an app in one place. Specs document are the most common types of documents that contain a description of the apps’ features, amongst other things.

Each PRD may differ from one another. These documents outline the research problem statements, success metrics, MVP features list, engineering implementation details and so on.

PRDs combine every step in the complete picture of the product, along with the choice of whether to include or exclude certain features and identify any potential problems. Product managers visualize the time required for project development processes, understand the budget needed for the development processes, and evolve a mutual comprehensive understanding between clients and the development team using this document.

4. OKRs, KPIs, success metrics

OKR, acronymous of Objective & Key Result is a method used by product managers to establish the objectives and then access the results of the ongoing product development process. The objective guides the team towards the goals and results show whether the goals are achieved or not. It includes two questions that are answered in the process – “Where do you want to go?” and “Have you reached there or not?”

Whereas, KPI (Key Performance Indicator) is a type of performance measurement of the ongoing development process’s success. A few examples of KPIs are Customer Lifetime Value and Trial-to-Customer Conversion Rate in sales, Web traffic and Conversion Rate in Marketing, etc. The respective documents contain all these goals and their results achieved during the process.

5. Roadmaps Documents

Image Source: Product Plan

RoadMaps are one of the primary and crucial documents that product managers are expected to keep. A roadmap is a way to let the team know the importance of the product.

A product manager develops a product life cycle explaining what needs to be done when and how the whole process will take place. A roadmap is a compiled document of all the projects developed in order to successfully create a software or an application. It is a path created by product managers that the whole team follows. These can be created as Word docs and decks.

6. Designs and Prototypes Documents

It’s hard to nail something for the first time. And it is also true with product design. The initial idea may not be the final one for there are thousands of variations that take place during the process. So, product managers need to keep a document containing all of the changes and alterations made in the product’s design.

Product prototyping is severely different for product managers as compared to engineers or designers. In prototyping, product managers set the expectations right and pave a path for the team to tread on.

If you wonder why do product manager needs to create an app prototype document then look at a few advantages of doing so –

• Elimination of the risk of misinterpretation
• Expeditious iterations
• Justification of the concepts early in the process
• Increased quality of technical feedback

7. User Journey and Stories Documents

User stories and customer journey maps are two important tools contributing to the smooth development of any application or software. Product managers create and manage documents for these two roles in order to record every little detail.

In the user story documents, the possibilities of the reasons why a user would use a particular feature are explored. Product managers create the documentation of every possible catalyst that would lead up to the user using a feature of the application. We could consider it a user journey on a microscopic level.

Whereas in the user journey, the whole of the user experience, from buying/downloading the product to using its features is mapped in a document. This helps product managers further explain it to their team and interested parties (stakeholders, etc) and establish their trust in the product.

8. Release Notes and Scope

Image Source: Product Plan

As the name suggests, Release Notes are the documents that are released with the release of improvised applications. Product managers assemble this document in order to inform users about new specifications, what bugs have been fixed, and advertise the application after the upgrade. No two documents are the same, for the applications vary greatly from each other.

Scope notes are also known as Scope of work document. In this, managers map out the scope of the features that an application or a software possesses. What those features will facilitate and so on.

9. Internal Guides and FAQs

These private internal FAQs are prepared for the stakeholders to keep them updated with the whole product development process. The format these FAQs are written in is very simplified. This may possess wireframes of a product having a strong UX component or a link to divide wireframe documents.

These internal guides contain all the data on how things work in the development process. It plays two functions that are important for product managers – ensuring that data is recorded in a manner as to facilitate easy hand-off among members and poses as a reference for external-facing roles to assist customers like Sales, Marketing, customer support, and whatnot.

10. Customer-Facing Guide

Customer-Facing guide is a user manual document in simple words. It falls upon product managers’ shoulders to create this document containing instructions on how to use that developed application.

Without this, users may find themselves in mayhem as to how to operate the product, in the initial stages at least, till they figure the flow out on their own. So, it is pretty clear why this document is so important that it is one of the most used or created documents by product managers.

Final Thoughts

To sum up, these were the top 10 documents that are most used by competent product managers in order to enjoy an effective product management process.

{Check out the best 5 diagrams Product Managers use to explain management concepts}

By segregating the tasks’ information into different documents, they eliminate any chances of misunderstandings and discrepancies. It renders a highly organized and smooth development process which has been recorded at every little step.

Frequently Asked Questions

Q. What Documents Should a Project Manager Keep?

It is well known that keeping documents is a necessity for any proficient product managers. The question is which documents fare to be the important ones. So, here is the list of important documents that every product manager keeps.

• Competitive Analysis Documents
• Product strategy and Vision Documents
• Specs and Product Requirement Documents (PRDs)
• OKRs, KPIs, success metrics
• RoadMaps Documents
• Designs and Prototypes Documents
• User Journey and Stories Documents
• Release Notes and Scope
• Internal Guides and FAQs
• Customer-Facing Guide

Q. What Percentage of Time Should be Spent Planning?

The average percentage of time spent on planning is 10%

Q. What is the Difference between MRD and PRD?

While sometimes these two terms might get interchanged, they are essentially different in nature and serve different purposes.

MRD is known as Market Requirements Document and is used to articulate a focused definition of target market, users and buyers profile. It is a document discussing the needs and wants of the users.

Whereas, PRDs are are an all-in-one-place documents that bring all the different elements of a product in one place. This document defines the breadth as well as the scope of the product so that the whole development team knows how to develop a product.

Q. What Makes PRD Good?

PRD is an important document because it helps in painting the whole picture of what and how to develop a product.

The post 10 Most Important Documents Product Managers Must Prepare appeared first on Appinventiv.

The custom mobile apps (CMA) or the web apps are useful to the organization, for their significant contribution towards building a one-of-a-kind tool, that is specially designed, for providing unique solutions. The solutions will aim at bringing about an improvement in the existing workflows and the processes and caters to the need of the company, for which they were built. It is impossible for the pre-built mobile apps or the off-the-shelf-apps to provide with similar advantages to the clients.

There is a high demand for CMAs in today’s market. The statistics provided by the CDW survey states that 72 % organizations have plans to continue investing in CMAs and almost a 42 % are deciding to invest next year. The greatest benefit of these special types of mobile lies with the re-working of processes and workflows, which actually affects the customer experience.

Whatever, be the model for your business, for the desktop or a mobility solution, the custom app provides the best opportunity for your business.

There are many advantages of the custom apps and some of these are:

• Increased Productivity
• Easily Adopted
• Unmatched Security
• Unique Technical Support
• Cost-effective

Increased Productivity

It leads to simplification of the communication and work tasks, irrespective of where the employees are located. This will definitely add to the spike in productivity and enhances  collaboration. There is an altogether new way to handle the customers and the business partners, and this enables the business to ride above the competition.

Easily Adopted

The implementation of the custom business app solution becomes easier, as the users already have an idea of what the application is likely to be. The interfaces with these custom apps is made easy, as they are already built on the needs of the business organization.

Unmatched Security

The custom business apps are much more safer than the traditional types of apps, as they cater to the needs of a specific business. In case of the traditional apps the software is known to other users as well and more likely to suffer from security breach, The business functions in the custom apps are only accessible to the employees of the organization.

Unique Technical Support

In case of the traditional app the technical support is provided by a team that did not have any part, whatsoever in the development process. But, with the custom business apps, the technical support is provided by a team , that was much involved during the development.

Cost-effective

It is always wise to make your investment with the custom web or mobile apps, as there is cost involved only for the desired features of the software. The traditional app development cost is more, as they are inclusive of features that are unnecessary for your business requirements.

The key to building a custom app is understanding what is the function of the mobile app. It must have a positive impact on the organization. The detailed aspects of the mobile apps will also help the developers to avoid future re-coding efforts. The business app solutions will cater to the customers, anywhere and anytime, even when they are on the go.

Appinventiv, is one of the fastest growing mobile app development companies, based in India, which works on the latest cutting edge technologies, across various devices. They develop the custom business app solutions that caters to the customer needs anywhere, anytime, with increased collaboration and productivity.

[Also Read: How Custom App Development Increased Our Client’s Profits by 23%?]

The post Benefits of Custom Business App Solution to Manage Your Organization appeared first on Appinventiv.

These days, not only employees are relying on mobile devices for work, but customers and business partners are demanding the ability to interact with your business using mobile apps. Mobile technology is considered as the fastest-growing as well as the most pervasive technology in today’s time, which makes it a necessity for the modern day lifestyle. Mobile technology enable companies to re-imagine how to leverage this technology in order to serve employees, business partners and customers. With the mission to simplify the business procedures with mobile apps, AppInventiv is a renowned Mobile App Development Company in India. There are numerous Mobile App Development Platforms that allow you to satisfy your clients through all conceivable ways. Many people think that mobile apps are only for the brands, however the reality is that a large number of organizations are into mobile apps with an objective to improve the perspective of their clients and give them an edge of their rivals. Mentioned below are some of the benefits of putting resources into a versatile application: 

• It gives you an easy and an effective way to showcase your business to valuable clients or esteemed customers.  
• You have the chance to engage your customers with offers and incentives in real time.
• Apps are believed to shorten SMS messages and paper newsletters and it also reduce the workload of staff.
• Apps are considered as a constant reminder of your business. It effectively reinforce your brand by increasing your visibility.
• Apps provide many functions such as general info, booking forms, price description, news feed, search features and a lot more. This means that whatever information you’d like to provide to your customers can be easily accessed by them.

It can be said that mobile apps have taken the world by storm and the enterprise mobility market is expected to touch the horizons of sky. Now, a large number of organizations are seeing mobile app as a tool that is not only strengthening external customer engagement, but also looks forward to spur business process transformation. There are definitely exciting opportunities for both small and big size businesses to achieve quantum productivity gains from mobilizing daily tasks. There is no exaggeration in saying that companies across several industries have an opportunity in order to drive revenue, reduce cost and to deliver efficiencies of scale through mobility efforts. There are numerous apps that companies can develop which claims to fundamentally change how a business is done. In other words, it puts a measurable impact on business and change the way a critical business function is performed.

[Also Read: Is Your Business Moving Towards Happiness?]

The post Mobile Technology Transforming Business Functionalities appeared first on Appinventiv.

The blessing of the mobile age is that you can run your business better at anytime. Today, not only big name brands like Bank of America and Walmart are using mobile apps. In fact, more and more small as well as midsize businesses are following the mobile trend, understanding the fact that mobile strategy is not only about having a mobile-friendly website. It is important to note that as a business owner, you have an opportunity of using well-executed mobile applications to promote businesses and make massive profits by reaching the niche market. The enterprise mobility market is expected to reach $500 billion by the year 2020. A large number of organizations are already seeing apps as a tool that plays a pivotal role in strengthening external customer engagement and in streamlining business process transformation.

Businesses are Using Apps for Several Purposes

The right apps in the workplaces give workers access to comprehensive data as well as information on demand. Many employees in the organization are using apps to acquire customer information, to send relevant messages to the target audience in real-time and view manuals. Apps are being used to collaborate with the team members and manage business. Moreover, to acquire data such as asset details, warranties, contracts and renewals. On the other hand, organizations that includes field staff or have employees who are regularly mobile says that well-developed apps improve efficiency, productivity as well as profitability. If a report is to believed, from 2015 to 2016, the number of companies deploying at least one app rose from 73% to 82%.

Furthermore, several business owners are also using mobile apps to reinforce their brand, to increase awareness as well as communication with the brand. When there is regular interaction with the target market, then they are at a higher chance of fostering trust. Mobile apps are transforming businesses by bringing about the extraordinary growth in the operations with better customer services.

Leading Companies Using Apps

Many firms have realized that a smartphone app can do a lot more than just selling products or services. But, if you are the one who still don’t believe us, let’s have a closer look at following companies who have managed to attain success with their mobile apps:

Starbucks

Just like everyone, you too have your own preference when it comes to getting a cup of joe and nothing is better than visiting Starbucks to satisfy your taste buds. With the motive to offer a convenient way to buy coffee, the Starbucks has launched its app, allowing you to buy your favorite coffee by skipping long queues.

The app includes a wide assortment of amazing features in which store locator is the one through which users can find the nearest Starbucks on the basis of the geographic location. In addition, the customized drink feature enables you to create your own drinks and order instantly. It even gives you the chance to save time and earn rewards when you pay with the app. With over 1,000,000 installs on Android, it sets a great example how smart mobile app strategy can impact the sales goals and brand awareness goals.

Nike

The brand doesn’t need any introduction. It has already touched the horizons of sky by manufacturing world-class footwear, apparel, equipment and accessories. Nike+ Run Club app of this manufacturing giant does not directly sell anything to the users. In fact, it is a fitness training app through which users can plan, measure and can monitor their running routines. On the other side, the app makes running more fun by incorporating a social media element. Thus, users can share their running goals on Twitter and Facebook. Users can even compete with other friends using the app. The app will give you the motivation that you need to run farther as well as faster than ever before.

IKEA

A well-known brand that sells ready-to-assemble furniture, home accessories and kitchen appliances. It has launched an amazing IKEA app that helps you to download the latest edition of the IKEA catalog. You can take the picture of a place in your house and can virtually install the furniture to see whether it complements the room or not. The app even allows you to know the stories behind the products. Clearly, this app has considerably improved and streamlined the decision making and purchasing behavior.

The list doesn’t include only these three companies in fact, there are numerous companies that offers mobile apps to improve the experience of their valuable customers. So, if you have decided to have a great app to make your business thrive, you need to hire a renowned mobile app development company.  In this regard, you have to take care of some important things such as experience, market reputation, expertise, past projects and expertise to name a few.

Summing Up

Companies that transform their business processes using apps are at a higher chance of achieving new level of success. If you are working as an entrepreneur, remember you need to get ready for the mobile app revolution now. The rise of great applications for all the business functions is a trend which you can’t afford to ignore. So, you need to have the skill of hiring the best mobile apps development company that can satisfy your business requirements.

The post Why are Mobile Apps an Indispensable Part of Business? appeared first on Appinventiv.

Complex problems are getting solved by world-class innovations and making a contribution that is unimaginable, so far. But, the worrying part is the technology divide that is created as a result of these, causing discontent among millions of people.  

In the Annual Meeting of the World Economic Forum this year, the theme was that of Responsive and Responsible Leadership. A leadership of this sort understands the link between technology, business and social responsibility. There is a need to run the economy in an inclusive manner, creating equal opportunities for all. Businesses become more inclusive as they develop a level playing field, based on technology and world-class innovation.

We see the emergence of new technology trends, every year. Artificial Intelligence and other such technologies like Blockchain have a tremendous potential for the future in the empowerment of individuals and businesses, helping in the redressal of social problems and generating growth.

Inclusive business growth can be created by the use of technologies as follows:

Secure and Faster Access with Mobility Solutions

Mobile technologies are growing at a tremendous pace, more in the developing nations all over the globe. The major banks in the developing nations have already embraced mobile banking across the globe. There is a proliferation of mobiles services and consumers are getting the benefits of the technology in the financial services, as they render faster transactions in the form of such mobility solutions.

In this age, when there is a constant need for real-time data, Blockchain is enabling to deliver instant resolutions to the interactions of customers with the bank and customer transactions. Blockchain is emerging as a potentially disruptive force for transforming the financial services with transactions that are faster, cheaper, transparent and secure.

Real-time account opening and building flexible loyalty programs are possible through blockchain being used to transfer data quickly. 15 % of banks worldwide are expected to implement the blockchain. Majority of banks are still using Blockchains in the testing phase, so that Blockchain is applied in their products and services.  

Digital identity in the form of biometric authentication are enabling people, in poorer nations for withdrawing cash, using fingerprints and retinal eye scans, to reach out to the weaker section of the society.

Precision Services for Patient Care

AI and Blockchain are making a positive impact in many industries, particularly for the healthcare segment. In 2020, the IT solutions market for healthcare will grow up to a level of US $ 228.79 Billion. AI solutions in 2025 will be based on Digital Avatars capable of answering patient queries and will address advanced functions like population health management.

In the absence of any clinical personnel, we will see the usage of Personal Assistant, thereby delivering highly customized treatments for individual patients. Blockchain is also beneficial in processing patient claims, bringing a level of automation and transparency, lowering the administration costs.

Learning Experience for Education

AI is providing for advancement of new ways to advance how the young generation will learn and also how the educators will teach, increasing interconnectedness and accessibility of classrooms, worldwide.

The students can gain insights, whenever required. The educators will also obtain this insights on what is the level of learning achieved by an individual student. There are tools which can better manage the curriculum. The students who require any additional form of help can be flagged. Disparate sources of data on social media activity, feedbacks from the teachers, exam scores and transcripts can be tracked so as to intervene early to ensure success rate of students.

The business leaders must make it sure that they come up with useful solutions for ensuring inclusive growth. They need to stay focused on striking the right balance between business, technology and social responsibility.

Appinventiv is a mobile app development company that has displayed tremendous growth over the last two years. They believe in developing powerful apps for their clients, using the latest technologies like AI, Wearables, iBeacons and IoT.

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As per reports the global app revenue has reached a high of $ 411 billion in 2015 only and it is expected to gain tremendous momentum to a whopping amount of $ 101 billion by 2020.

We see that there is rising number of replacements of the websites with the apps as the most preferred source of information whatever be it, information, e commerce, news and sports and almost everything that you can think of. The app business has plenty of business opportunities and no other time is better than this to get started on your own business.

If we start talking about the kind of success that is associated with the app business, we have to talk about the entertaining app called Flappy Birds or that matter the mobile game called Studio Rovio, creating a game called Angry Bird and the more recent phenomena of the Super Mario Run which had a stupendous success as it reached the top of the global charts, weeks within its launch.

If you have an app that has already gained popularity or has gone viral, it will always fetch a steady source of revenue for your app business. There is a great challenge that is faced by the app owner, not only building an app but also putting all the marketing efforts behind making the app viral.

Here are some of the tips that need to be looked at while creating your own app:

1. App Rising above the Competition

There are thousands of mobile apps which makes it difficult for the app developers as the apps chosen must stand out from the rest. There are certain parameters for choosing the mobile app such as look, color, interface and description or it must have a suitable marketing identity, In a nutshell, the app must have unique features. This is what draws the customers towards that specific app. The popularity level of the apps differs with the categories of apps, like the gaming apps are usually great revenue earner.  

2. Setting up of a Plan

It is important to have a perspective of what the app wants to achieve. When you are clear what are the various points in which your app is different from the others, then only pre-project research is conducted.

Following other successful apps and app developers is an extremely beneficial practice. After advertisement online, once the demographics is identified, then the app need to be sold through advertisements.

3. Starting the Project

You need to hire the skilled set of developers for the starting the project. Before choosing the apps you must find out more details on the experience of the app developers such as any previous experience in dealing with similar app ideas, cost that is involved and other factors.

The app developers will first build the prototype which is similar in looks to the actual product. Feedbacks from the prototype will be incorporated in making the necessary changes in the app and then only the final product is built.

Final Polishing

The final product of the mobile app will be finally tested and then comes the stage of approval of the app. This approval process may be time consuming when you are using Apple’s AppStore, so it is wise not to postpone this as a last minute activity, so that there is no delay of the launching of the app.

After the approval process for the app is over, you must start concentrating on the add ons, updates and upgrades for the apps, something new that makes your app stay relevant. Keep  a track on the revenue and get your business policies adjusted accordingly.

The vision is yours and the app developer must not have unlimited control over the running project. It is you who is paying for it. A planned way of executing each stage of the project will let you reach your destination of finishing the project on time.  However, with all the hard work that is put into, it is not at all an easy task to differentiate yourself, without any efforts from your side.

Appinventiv, is a one of the top mobile app development company in USA. They have achieved a growth trajectory in a short time, working with latest technologies across diverse platforms such as Wearables, Internet of Things, Smartphones and iBeacons and many more.

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In a scenario like this, if you are someone still wondering why a business should invest in mobile app, this blog will be an awakening call for you.

Here, in this article, we will dig deeper into the mobile app economy and come up with 8 prime reasons to join the mobile app bandwagon. Later, we will look into how to invest in an app wisely and earn higher outcomes.

But firstly, let’s turn towards some statistical numbers to strengthen the idea.

1.Business apps account for 9.78% share in the App Store; making it the second most popular category among the users.

2.The mobile app store revenue will rise to $188.9 billion by the year 2020.

3.Non-game app downloads are predicted to grow by 23% in the coming 5 years, projecting to revenue of $182 billion in 2020.

4.The shift from desktop to mobile is increasing. The total page views on mobile apps have increased from 41% to 53% in between 2016 and 2017, while the page views with websites have reduced.

5.The total time spent by Android users with apps have proliferated by 63% in just one year.

With this attended to, it is quite possible that you have gained insights about the mobile market – implying it is the right time for you to watch out for reasons why your business needs a mobile app – something that we will cover in the next phase of the article.

Reasons Why You Should Consider a Mobile App For Your Business

1. Reach to a Wider Audience

With the momentous rise in smartphones sales, a great shift is observed in the way users interact with products, and services. Today, rather than going with word-of-mouth marketing and browsing on websites, people prefer to grab all the opportunities from a mobile app. This implies having your own brand application can help you to reach a wider audience and enjoy higher perks, but only when you make a worthy investment in app development with a clarity of what you need and why, and putting your best efforts into the process to perform competitive analysis for your app idea.

2. Enjoy Convenience

The answer to why mobile apps are important is that they add convenience to the whole business process. They empower businesses to provide the customers with all the features and facilities on the same platform ranging from searching for the right item/service to adding them to cart, making the payment using different means, checking the status of the delivery, and sharing feedback. In this way, add convenience to their experience.

3. Effective Customer Engagement

One of the prevalent reasons why every business should invest in mobile app development is that it keeps the customers hooked to the brand. The business mobile applications, by integrating technologies like Artificial Intelligence (AI), AR (Augmented Reality), VR (Virtual Reality), etc., make it easier for businesses to attract more customers, provide them with personalized experience, and maintain communication day and night. In this way, the application makes the users feel valued and encourage them to remain in touch with the brand more often.

4. Higher Brand Recognition

Mobile apps have also proved to be an indispensable part of business in terms of brand recognition. The applications, when residing in the App Store, catch the attention of the users scrolling down and encourage them to install, while prompt them to tap on your app icon when present on the screens of users’ devices. This helps small businesses to easily come across the right audience and make room for them in the competitive marketplace.

5. Get Quick Access to Analytics

Another significant benefit of mobile apps for small business is that it eases the process of gathering user data and gaining insights. In simpler words, it provides businesses with heap of data regarding how customers interact with their app, what they like the most and what not, how much time they spend on their platform on an average, etc. These insights further help them with planning their marketing strategy wisely and enjoy the best results from investing in mobile application development.

6. Perform Significant Marketing

Mobile business apps are also proving to be a great tool for promoting the brand. The applications, using the push notifications, app localization, in-app payment, and other such techniques and tools, are making it easier for the brand to connect with a wider audience and keep them interested in placing an order – which eventually increases sales as well as make the brand familiar to more people in the market

7. Make Better Profits

Since the sales depend directly on how many users are familiar with your platform and how they feel when interacting with your brand, mobile apps again empowers businesses to make more profits by improving their brands’ visibility across the globe and keeping the customers engaged with their products/services.

8. Outshine the Competition

Despite the availability of surplus of advantages of mobile apps over websites, various businesses are still resisting the idea of building a mobile app. Because of this, only a few companies are reaping the benefits of mobile app economy, which clearly indicates that there is less competition in the app industry. Or better say, you will be able to rise in the market at a significant pace, only when you realize why business need a mobile app and put your efforts into the same.

Now as you know why every business needs a mobile app, do not keep your brand deprived of the plethora of opportunities and benefits associated. Look forward to understanding how to hire the right mobile app development company. and create a perfect mobile application for your business needs.

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Before creating a successful mobile application, several factors need to be taken into consideration from developer’s end.

Research like a scientist

As is the case with any new venture, preliminary research is of utmost importance. The developer must conduct in depth interviews with potential consumers to understand their needs, views and expectations. He should study the various problems faced by the consumers and assess the validity of the software. The complete market research will ensure that there will be no overlapping of products. The developer should also take a look at the economic feasibility of the venture. Decisions regarding the price of the app, its target audience and positioning should be chalked out right at the beginning.

Lay emphasis on design

The design and outlook play an important role in any application. The interface should be user friendly and easy to use. The developer must avoid complicated text and create clutter free applications. Due care should be taken to maintain consistency for all screens, notifications and accounts. All colours, fonts and pictures used should be pleasing to the eye and should be designed with a view to creating maximum consumer satisfaction.

Test like crazy

There are several technical aspects of creating an application. A skilled developer will ensure that the program is perfectly written and there are no bugs. The application should run smoothly on all devices irrespective of their operating systems. The consumer should be able to effortlessly switch between devices and applications at any given time. It should allow each consumer to customize the app according to their requirements thus giving them greater freedom and appealing to a wider range of individuals.

After development support

The duty of the application developer does not end at creating the app. He has to ensure that the consumer base keeps growing and existing consumers keep coming back to the app. The developer must constantly be on his/her toes to strengthen client relationships and should ensure maximum engagement. Periodical surveys should be undertaken by the developer to understand changing expectations and necessary steps should be implemented.

Launch a Beta version first

The application can also be given on trial basis to the consumers so that they can familiarize themselves with it. After a test run, the developer should take detailed feedback from the sample group and tweak the application accordingly. This will help the developer to tailor the application according to consumer needs.

In today’s booming market, there is no dearth of applications and software. In order to create maximum impact, the developer should have his finger on the pulse of the market at all times. A single mistake and all can  be lost. Hence, it is extremely important for a developer that he/she should leave no stone unturned in creating the best app.

AppInventiv Technologies is a leading top rated app development company that has made several business apps which have touched new heights. If you wish to get an business app developed, kindly contact us and we would surely provide you a deal that you won’t be able to refuse.

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