Today, the smartphone has truly transformed the way people communicate and has a significant effect on how people interact with technology. So, the most widespread technologies are iOS and Android and have a massive, development on both the sides in the mobile operating system market. So, on one side, there is an open source
When it comes to 2018 mobile app market, it has witnessed just over 27 billion downloads which is a year over year growth of approximately 11%. Therefore, it’s not only in 2018 but for the past many years mobile apps has been changing our lives from booking a taxi service app to ordering food or hiring the electrician from the nearby area.
In this technological era, app development companies are growing very fast. More than 80% of the companies are focusing on more robust strategy for scaling their app development. Therefore, the mobile app development service providers searching a way to stand out their IT services from others as it is quite tricky, as the market
Parking apps are a big exhale of relief for those who stay in cosmopolitan cities. Struggling to find a vacant place to park your vehicle is a day to day synopsis which doesn’t need to imagine. Parking lots are nothing, but it’s short of a web, which rapidly increases the number of cars in big cities only to add trouble. Therefore, finding a parking spot
On-demand delivery apps have widespread over the past few years. Whether you want your food delivered or you need someone to drop off your laundry or maybe you are in need of a day out and so on. Everything is possible in on-demand delivery apps. So, when the internet became commercialized, and people see what they could accomplish at
Mobile technology is changing day by day, and it had evolved a lot from its beginning days when it used as merely a calling tool. Nowadays, it has been using for a task such as texting, video calling, scheduling meetings, spending and receiving emails and managing social media, which has become possible with the help of mobile application development services. Nowadays, companies started utilizing in an agile methodology which is most efficient in
If you want to learn how business works first, you should understand the terms which are related to business. Among all these, the one which is majorly used is return of investment (ROI) which is a method of determining the efficiency of an investment. It is a key metric used to rank the attractiveness of the number of different types of investment alternatives and is expresses as a percentage. So, when a business spends USD 1000 per month on an advertising campaign also generates USD 2000 in return directly from the campaign, you get ROI by dividing 2000 by 1000 which is equal to 2.
Which shows that every single dollar spends on the campaign, the business earned 2 dollars. ROI calculation helps you understand what and all is working for you and what is against your business. Hence you can invest in areas where you can earn and generate more revenue.
ROI in App development – Remember of the last few times you purchased in-store or online? Most of us use our phones to pay for the purchase. The convenience of such purchase offer has attracted many people to online purchase which is in the result of boosting mobile commerce. As per the recent research, mobile commerce will reach USD 25 billion in 2020. Well, this trend helps the organization to realize the importance of mobile and their work applications. There are certain obvious advantages found in mobile app Development Company for business.
ROI in different types of apps and their steps involved in measuring for an app are given following: –
ROI in the development of hybrid as well as paid apps – Pay per download model works as the fastest way to obtain an immediate ROI for your app development. However, a given method is not received well by the users as they are not ready to pay an initial cost which they have not tested. Customers usually keep high expectation of such apps which are often not met hence resulting customers unsatisfied most of the times.
Not all the app is designed to make money directly. There is another way to monetize the apps rather than making customers pay for the first time. Different types of business models used for application, by following two among them have gained popularity among paid for apps.
- Setting the nominal price for downloading the app
In these types of the cases, the price for the downloading the app is usually kept very nominal so that the purchase for the customers is not very high such type of application development usually obtains a satisfactory ROI in the long run.
- Setting a high price for downloading the app
In these types of the cases, the price for the downloading the app is usually high for the app because they are sure that product will get sold. It applies in such cases where the ROI for the app is guaranteed other it can backfire.
ROI in hybrid app development – The hybrid app gives more possibilities for monetization hence they are found in ample amount in the market. Such apps focus on obtaining benefits after downloaded. ROI for these achieved from advertising, in-app purchase, subscription, and payments.
ROI in mobile app development – ROI accomplished in different ways in app development. Some companies even sell user information to third parties to generate revenue. Others analyse user behaviour and patterns within the industry. As long as the app providing the service which is useful to the customers, the app is a bond to obtain a good ROI.
Steps for measuring ROI for mobile apps
Objectives –The most vital step of all to know what you want to achieve from an app. It should start before the designing of the screens and before writing the code. Every mobile campaign can be measured by one of the two intended outcomes.
- Analyze your customer interaction: Focus on user acquisition and retention rate.
- Analyze your workplace efficiency: Focus on sales and marketing, assets management.
The mobile app developer should be clear about the business objectives of all stages of app development. Without proper implementation of this step, you may not be able to utilize your funds in the app development process.
App development cost -This step is essential because you need to ensure that you keep within the confines of the budget and do not consume may excessive resources in the app development process. Managing an account of the development cost is necessary because you need it to measure it against the key performance indicators as discussed.
Development costs generally include below costs
- Support and integration
We should also keep in our mind that as soon as the app is developed, there will need of a maintenance team which will add to the long term development.
Each app is a measurable KPI – Key performance indicators are business keys used to evaluate the factors which are essential for the success of an organization. Which is also different from one organization to another some may consider the net revenue as a KPI, while others might consider customer loyalty metric rate as a key performance indicator.
For a workplace efficiency, metrics will give you an idea about the performance of your app and its impact on your sales, to evaluate the maintenance costs and equipment uptime. These metrics will help your campaign efforts from multiple angles and help you maximize your results in a way you like.
Well, the bottom line is the market shifts towards a digital world too many businesses have come to a cutting edge to invest in mobile app development companies. Understanding and calculating the ROI of your app do not only increase the results also help to grow your business in the right direction.
The world is getting restricted to smartphones these days. People are attracting more towards smartphones and ditching desktops as various things can be achieved hands on.
This resulted in boosting the growth of mobile app development and especially on Android. Business app development for Android has given more satisfaction to end users in comparison to other platforms. Demand for development of business app has reached on a new level and has insisted the developers go ahead for android app for business.
And as the impact of the Android mobile app development on business growth is positive and undeniable, numerous companies are looking forward to developing an Android app to grow more the business that is the perfect blend of top-class technology and features having the best user experience.
Reason for selecting android app development:
If you are doubtful for selecting android for mobile app development, here are some of the reasons that you must opt android app development for business:
• High android users: In this digital era, various users across the globe are using android phones. So, in this dynamic competitive technological market, not having an android app for business means losing the limitless opportunities and customers in the business. When there is high competition going on in the market, no business can afford such a huge loss. So, it is suggested to look forward to android app developers for converting a website into an app.
• Target Multiple Platforms: Android app developers use java language for developing an android business app. This simply means that you can even port the app into other operating system like Ubuntu, blackberry and Symbian. Thus, one can take advantage of the development of the app by targeting multiple platforms.
• Open source platforms: Android is an open source platform. So Google won’t charge any of the fees for utilizing this platform. Moreover, Google also provides the tools for app development and technology for free. This aspect helps to cut the cost in the entire project. The costing of the project is fully based upon company to company depending on various other factors of android app development.
• Multiple device compatibility: The greatest merit of selecting an android app development for the business is that, there is no restriction for building an android app on the device. One can develop an app on windows desktop, Linux system and Mac.
• Faster Deployment: The overall period of deployment for iOS app stretches to weeks, whereas developing android app can take a couple for hours to develop. That’s the reason why various android app development companies recommend selecting the android as a platform. Business development procedure must be fast because as the app gets developed, the business will bloom.
• Customized App: One of the interesting fact about the android is enabling the android app developers to personalize the app as per the need and requirement of the business. This means that the development of an app can be done with right and specific requirements that might not be possible with other platforms.
So, in a nutshell, even if you are a product based company or service based company, it is essential to have an android app for your business. It will help the store to reach maximum potential customers and improves the sales and revenue. We at Panacea Infotech have experienced developers who have rich experience in developing and delivery high quality android apps which make us best in class app development companies in USA and across the globe.
Where is mobile app development going in future? Right now, we can not say anything at this moment. Because mobile industry has seen an immense changeover in past recent years and we expect more in future. The revenue of mobile app industry is growing equally along with their users. Obviously, Android and iOS applications have dominated the market and haven’t left any chance for competitors to break down their legacy. Though Android users are outnumbered than iOS users, Apple is generating greater revenue than other mobile app development companies. However, both Android and iOS are flapping their wings hardly to rise higher in the market.