Is A Mobile App Necessary For My Business?
For small businesses, creating a mobile app was not realistic two to three years ago, when the median cost to build an app was between $37,913 and $171,450 (but could rise to $500,000 or more).
In reality, the majority of small businesses tend to devote less than $10,000 a year total to advertising and marketing efforts, including mobile app creation.
However, with the majority of our time (86% or 2 hours and 19 minutes a day) spent on a mobile device, it’s crucial for a business to have mobile visibility.
The “mobile revolution” is transforming everyday lives. Customers now expect companies to have an app and to share information about products and services that are useful to them.
Mobile is the fastest-growing industry in history. Offering mobile services increases customer retention, attracts new customers, and differentiates your business from the competition.
Essentially, mobile devices are putting power back in the hands of the customer. This transformation in how businesses interact with consumers has brought about compelling market opportunities and some impressive statistics(link is external):
- The mobile app market is predicted to grow 270% to $189 billion by 2020.
- The mobile app industry is forecast for over 270 billion downloads in 2017.
- The App Store will hit 5 million apps by 2020, more than doubling its current size.
From predicting the weather, to encrypting messages, to sharing photos with friends, to requesting a personal driver, there’s an app for most imaginable needs. But how many of these apps come from small businesses?
Small businesses steadily are entering the mobile app realm – creating apps to engage their customers and streamline internal business processes. In fact, nearly half of small businesses plan to create a mobile app by 2017 or later, and, at the beginning of 2017, 41% of small businesses already had a mobile app, up from the 20% in 2016.
What’s causing this increase in small business adoption of mobile apps? Data suggests that small businesses are building apps to increase sales (39%), improve customer service (29%), and compete in a specific market (22%).
Still on the fence as to whether having an app for your business is the right fit? Take a look here to view some of the most popular industries and how they are utilizing mobile apps. Then get in touch with us and we can sit down with you and discover what exactly you’re looking for and what the best fit it.