Lately, I and my friend were discussing over the monetizing capabilities of a mobile app for business. There seem to be a no-end to this discussion but today I will share some highlights of what our discussion was and how did it conclude.
It was a casual meet up at a local fast food restaurant near my place. Matt and I sat comfortably waiting for our orders when suddenly I saw this flyer to download a food chain that the floor cleaner swiped from near our table. Now we discussed on the benefits of a mobile phone application for a business and here I resent to you the crux of it.
Now mobile application development is a topic that has evolved in the past 3-4 years. Mobile applications were by all means are the gift of smart phone technology to us. Since the advent of the first mobile phone application launched, mobile phone application development has came a long way and today its one of the most promising and inspiring industry for many businesses across the globe. Not only that businesses are thriving by developing mobile applications but also that other businesses who they are making applications for are facing some real good trend in terms of revenue generation and online traffic.
Now the first thing that both of us thought is a must for every mobile phone application is user friendliness. I mean, who would want to use a gadget even, let alone mobile apps that are not easy to use. A mobile phone application that makes the activity being done easy and convenient is a sure shot hit within its target market. Imagine whatsapp for that matter, it made short messaging so much more easily and today is the most widely known messaging app all across the globe.
Now comes the main part which is monetizing through your mobile app. For making money out of your mobile app you first need to make it very interactive and secondly you need to have a big customer base or fan following which ever applies. Considering this food app that actually popped up the idea of discussing mobile app on the meet up, we say it has a fan base of more than 5000 individuals within our state. Now 5000 downloads would translate to almost at least 5,000 orders if every person orders only one time through this app in a given month. If every order cost $1, it means earning of $5,000, but this is not as easy as it sounds. If only this business has undergone vital research before launching this app and that the app is also user friendly and above all offers a service that is yet to be tapped by any other business, this is a sure shot win. Otherwise there are other strategies that the business has to look forward too in order to achieve what they desire through their mobile phone application.
With this, our food ended, and so was our discussion. Looking forward to meet Matt again, at some other weekend and provide you our insight over some other topic.
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