Consider this statistic: there will be approximately 20 billion mobile devices by 2020 (The Economist). Roughly 2 million apps are now on iTunes and Google Play. If one of these is not yours, then maybe it’s time you did.
Generate additional sales. Mobile apps generate additional revenues for a company in three key ways: firstly, because most people carry a mobile device, apps encourage repeat orders from customers on the go. The sheer simplicity and convenience of apps versus going to a website makes it easier for consumers to buy. Secondly a company can benefit from a new advertising revenue stream through apps. And thirdly, the app itself may be so compelling that you can charge for it.
Reduce marketing cost. A hidden benefit of apps is in the low cost of marketing – compared to traditional advertising and direct marketing, pushing notifications to customers who have downloaded your app is cheap. For example, you may want to announce an event or new product offer.
Get the competitive edge. While most industries have cottoned on to apps, perhaps your business is in a niche where your competitors don’t offer an app yet, and if yes, this can be turned to your advantage as a differentiator. You can also custom-build unique features into your app that others don’t have – the possibilities are endless.
Broaden your market coverage. Without an app, you may be missing out on a segment of the market that simply prefers to do business that way. A quick way to understand whether you have a mobile-addicted market is to look at the percentage of visitors who access your website through mobile devices. You can also use common sense, which suggests, for example, that young consumers are more likely to want to transact through an app than mature B2B buyers.
Create stickiness. What better way to create stickiness with your customers than embedding your brand in your customer’s pocket! Unlike mobile websites, apps are always visible on the user’s phone home screen. Customers are more likely to repeatedly interact with businesses that are at their fingertips, so apps are a great customer loyalty tool.