The business world has become much more competitive in recent years. Advances in technology and the ability to acquire customers while being located anywhere in the world have saturated certain markets and made customers finicky.
This is especially true when it comes to the exponential rise of mobile applications. Developing a mobile app can be a huge benefit for your company, no matter what industry you are in.
However, you need to have the right timing, strategy, and execution to make it work.
We will discuss various pros and cons you should consider before investing in a mobile app. That way, you can ensure that you are making the right choice based on your unique situation in order to improve your bottom line.
Pro: Sales Opportunities
At the end of the day, business success is determined by your revenue.
Earning more sales directly impacts your bottom line, and a mobile app can help you achieve this by expanding your potential market.
People who might not otherwise have heard of your company could discover your app.
You can promote it via various app platforms, including Android and Apple.
Furthermore, you can run paid marketing campaigns to drive traffic and increase app downloads, widening your customer base.
Pro: Improved Customer Experience
Your UX (User Experience) — or customer experience — is really another form of customer service. And customer service is king!
While your traditional website may be slow, clunky, unsightly, and unresponsive (not adjusting elements to fit various mobile screens), mobile apps are specifically designed to run well on any tablet or smartphone right from the start.
This makes a huge difference, because if a customer is frustrated while interacting with your brand, they may just decide to leave and conduct business with a competitor instead.
Con: Development and Maintenance Costs
Keeping your business expenses in check is one of the main challenges of any endeavor. This is especially true when it comes to mobile app development.
You might find that high-quality programmers are difficult to find, and they come at a high price.
Therefore, make sure you have budgeted initial development and ongoing maintenance costs. Every app will have some bugs, and you don’t want customers to find them before your team does.
To understand what these costs could look like, it is wise to schedule a consultation with a mobile app development company.
They can ask you important questions to provide you with an accurate cost assessment so you can be sure that it is within your budget before getting started.
Pro: Personalized Marketing
It’s no secret that personalized marketing is more effective than a generic approach. Mobile apps allow you to use personalization on an entirely new level.
You can send custom SMS notifications or offer promotions and pop ups directly in the app.
Since you control the app’s internal processes, you can choose what information is used to provide a custom experience that caters to each individual customer — and the process can be automated to save time and human resources.
Con: Potentially Low Usage Rate
You need to take a good look at your market and demographics before deciding to launch an app for your business.
For instance, a company with a target market of 35-year-old tech-savvy entrepreneurs will get different results with their app than a company serving 70-year-old rural demographics.
Adoption rates affect how much revenue you can generate through your app.
If you are still unsure of how your market will react, conduct a customer survey to gauge their interest. This way, you are using data instead of simply shooting in the dark.
Speaking of which…
Pro: Data Collection
If done right, an app can have great benefits, and collecting customer data is a crucial one.
Although ultimately your business conditions will determine if it’s the right time to attempt it, one of the most important factors in whether or not to build an app is if you plan to collect data.
By leveraging information about customers’ searching habits, purchasing history, and engagement with various content, you can improve your business marketing strategy.
Otherwise, you’re leaving money on the table and letting technology go to waste.
Con: Aligning the App With Business Processes
One of the risks of building an app is when it fails to integrate well with your current business operations and information flow.
It is sometimes complicated to ensure that your mobile app communicates with other existing business systems and software automatically without errors.
This is why it is important to hire experts in-house or source your app development from a third party with experience.
In other words, avoid trying to reinvent the wheel and ensure that your app goes well with your current setup before investing further.
Pro: Unique Differentiator in the Market
In a crowded global market, it is essential that your company has a way to stand out in your customers’ minds.
If you notice that not very many competitors are taking advantage of mobile applications, it can be a great chance to set yourself apart from the rest.
Mobile apps can make the customer’s journey easier, so they purchase from your company without as much friction.
You can occupy a specific place in the consumers’ minds when you offer something that the competition doesn’t. If you do so, you will be the first company they choose when it’s time to solve their problem.
Apps are powerful business resources. Nevertheless, if you are considering developing a mobile app for your brand, you need to have the right mindset and strategies to ensure it will be a success.
Otherwise, it could be a major sink and dent in your budget without generating additional profit.
Therefore, review the pros and cons above.
Make sure that your company is poised to take advantage of the features of mobile apps and that it aligns with your market. That way, you can confidently move forward with development while knowing that it will position you for faster growth now and in the future.
Heather Redding is a part-time assistant manager and writer based in Aurora, Illinois. She is also an avid reader and a tech enthusiast. When Heather is not working or writing, she enjoys her Kindle library with a hot cup of coffee. Reach out to her on Twitter.