Why Startups Should Invest In Mobile App Development

Every single day, 137,000 startups are created worldwide. This boils down to 5,708 every hour or 95 new businesses every single minute. However, just 5 years from then, only 10% will have lasted past the 5-year mark. So how can 1 of the 137,000 differentiate themselves from others? In the current technology age, the internet is the best way to not only build your brand image, but to advertise to a global audience. While the traditional method is to create a website optimized for home computers and laptops, the reality of today's consumers is that this is no longer the best way. Nowadays, app development can be a key differentiator not only in advertising, but building customer loyalty and promoting customer retention. All these startups with a mobile app to become valuated 825% higher compared to those without a mobile app.

The Rise of Mobile Apps

Unfortunately, not all mobile apps are just as good as others. For startups, there are a couple important elements that make a mobile app engaging for users. First and foremost, a 'good user experience' makes them not only more likely to use the app again, but it also improves perception about your business. A good mobile app is easy to access and simple to use, so that customers can use what they need. There should also be accessibility features in the app, whether it be multi-language support or text-to-speech, to ensure anyone can use your app.

Secondly, a good mobile app is a continuously growing investment. Every single dollar spent on user experience can lead up to a staggering 9900% return on investment. In fact, 74% of organizations see a positive return on investment from their mobile apps. Certain industries, such as manufacturing, telecom, and retail, see an above average return on investment from these mobile apps as well. But mobile apps are good for much more than publicity or an investment similar to advertisement.

The mobile app in-app purchases will be rapidly approaching $186 million. This means that you can easily see sources of revenue from increased customer inflow as well as purchased within the app itself. For example, processes like subscription bundling, in-app ads, app-data monetization, and app-commerce bundling have all grown in popularity. With this variety of monetization options, we can see why average revenue per download is expected to grow to $9.46 and in-app spending will grow by 267%.

Conclusion

While the benefits may be incredibly achievable, the process of making, maintaining, and upgrading a mobile app is much more difficult for a small business. Fortunately, with app development partners like Tapptitude,

Tapptitude is no stranger to developing and scaling major apps. They helped build Glorify, a Christian worship app, saw 16 million downloads, 2.2 million active monthly users, and 1.2 million ratings with an average rating of 4.9/5. Similarly, they were involved with Imobiliare, a real estate management app, which also has over 1.5 million app store downloads and 2,000 concurrent active listings at any given time. They were also involved with creating and scaling the app for Tenor, which is a GIF keyboard utilized by Google.

Most importantly, Tapptitude connects you with product experts with real experience. They have well over 80 product specialists that have experience in over 10 industries, which helped them enrich 150+ mobile apps they were responsible for building. Regardless of your industry, if you are looking to grow your digital presence, mobile apps are a surefire way to keep up with the new age of business. However, it's important to go for a trusted mobile app development partner to make sure your app is the perfect fit for your business.