7 Reasons Why Small Businesses Should Invest in Mobile Apps
From the time mobile phones were first invented in the early ‘70s and then popularized in the ‘90s, to till date, they have become the backbone of communication, media, and marketing, their impact on the human race has been commendable. The mobile app market is expected to be worth over 600 billion U.S.D. by 2025. The article aims to highlight the benefits that small businesses can reap through the use of mobile apps.
Scaling your business requires strategic planning about the optimal distribution of your resources for better performance and revenue. Small businesses have limited resources, and we have listed a few ways in which mobile apps can prove to be an asset for your business.
1. Lower Cost of Operation and Maintenance
Small businesses have capital constraints and maintaining a fully functional website or offline brick-and-mortar store can come with certain fixed costs. Mobile apps can be created and launched in open-source platforms such as the Android O.S. platform with the help of skilled mobile app developers at a much lower cost and are cost-efficient to maintain by outsourcing the service to app development companies.
This method helps reduce the overall operational cost of the M-commerce business model. You can rely on free mobile apps as an alternative to many administrative and accounting functions, such as keeping track of daily transactions and cash flow without hiring separate personnel for the task.
2. Your own a Personalized Marketing tool
People spend over a third of their waking and productive hours in a day on their mobile phones. So how can businesses utilize this important piece of research information in their favor? By creating and using mobile applications to promote and market their brand to their current customers and the vast potential of future customers. Apps are easier to install and operate to perform any tasks users want effectively. Customers can conveniently browse through your services or products and place their orders with utmost ease through your business apps. This way, you create brand awareness and develop brand loyalty among your customers.
Furthermore, by employing a rewards program and issuing first purchase discounts and such, you can actively lure customers into spending more time and money on your products.
3. Communicating with the Customers on the Go
A mobile app bridges the gap between you and your customers. When customers feel heard, and their opinions are valued, it is easier for them to develop an affinity for your brand and promote it to their peers. They can easily express their likes and dislikes as well as offer feedback on your products and services, which can enhance their user experience and also help you improve your products and services as per their preferences. There is a direct channel of communication through mobile apps between consumers and service providers, which eliminates the risks of consumers getting distracted by other items or links on their phones. The 24/7 access to your service is a value-added benefit that removes the constraint of time that offline stores face and keeps your customers connected with your brand.
4. Tapping into a New Customer Base
Mobile apps can help small businesses expand their customer base by tapping into potentially newer customer bases by eliminating geographical restrictions. Any customer, at any time, can subscribe to your service or access your products without having to worry about location or delivery issues. After having gone through the pandemic, the shift of lifestyle that has followed is another advantage that small businesses can tap into. More people have started shopping online rather than going outside for minor things. Your only challenge remains to make your mobile app appealing enough for users to install and interact with over your competitors, and viola, you can witness an immense influx of new customers ready to try your products.
5. Increased Revenue and Return on Investment
The convenience that comes with shopping on apps often leads to overspending habits amongst the public which ultimately works in favor of small businesses that rely on online channels to promote their brand and scale their business. Your business can commit to serving the global community instead of just the local customer base through a mobile app, ultimately raising your revenues through mobile app store purchases. With increased revenues, you get the chance to acquire better resources and expand your business into new markets and invest capital into research and development as well.
In the end, the amount you invest into developing and maintaining your app will reap a higher return on investment than any other marketing technique.
6. Get Ahead of your Competition
If you want to overtake your competitors, it is crucial to firmly establish your presence in the market of that particular industry. What better way to do that than acknowledge and accept the new emerging trends and technologies that help you differentiate your brand from that of your competitors. A leading mobile app development company can provide you an app that comes with an array of unique features that can aid your differentiation strategies, such as app design and user experience, that can tip the likeability of customers in your favor by simplifying access to information and online purchase experience. To stay competitive, you have to keep up with the changing business landscape.
7. Cultivate Customer Loyalty
Staying visible is highly essential in building customer loyalty for any brand. For your customers to have faith in your business and brand, visibility is a key factor; they need to see your presence to rely on your services and then develop a habit of re-purchase. The famous proverb, Out of Sight, Out of Mind, fits well in explaining why running with the trends is a commonly followed practice amongst marketeers. With the amount of time an average person spends on their smartphones, switching between apps is a habit that involuntarily allows them to be mindful of the presence of your brand on their phone. This re-affirms the importance of having a well-crafted app for small businesses.
To conclude, our advice to small business owners and new entrepreneurs is to invest in developing their mobile applications, considering how the benefits outweigh the cost. Smartphones hold the power of containing an entire world of business and entertainment in the palm of users, so make use of the internet to level the playing field and scale your business through the M-commerce channel. Add value to your business by staying on top of the evolving trends and rapidly growing your business to match the pace with your competitors and leading companies in your industry.
Erik Watson, a content crafter at GoodFirms who intends to share his outlook on the fast-paced tech industry and all the new and exciting global trends with the audience through his writing. A writer by the day, and an avid reader by the night, Erik enjoys exploring different genres that help him grow as a writer and individual.