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Why Should You Build a Mobile App For Your Businesses?

January 4, 2019
3 min read
A

t this point, you may be at the stage in your business journey at which you are considering developing a mobile app. If you aren’t at this stage yet, this is still a great opportunity to consider it! You may be asking yourself a few questions, such as “do my services require an app?” or “will my current and future customers benefit from or actually use this app?” According to a study conducted by Statista last June, U.S. smartphone users average 2,451 minutes per month on mobile apps. In the latest report by App Annie, it is forecasted that, by the year 2021, the global app economy will be worth $6.3 trillion due to an increase in app users globally. With mobile apps becoming the most popular feature used in smartphones according to a recent study by Statista, having one for your business is a necessity.  Aside from the statistics, here are several advantages to having a mobile app for your business:  

     
  • Portability — The services and information that your business provides can and should also be accessible via your customers’ smartphones. Your brand must be made available where your customers are present, and most are present on the internet 24/7. Also, how cool would it be to see your business in the App Store?
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  • Online Purchase Transactions — The convenience of in-app purchasing is unparalleled. Your customers want convenience when acquiring your products or services. With today’s technology, e-commerce and online shopping work seamlessly in mobile apps. Similarly to Amazon’s one-click ordering, in-app purchases (in most apps) can be exponentially easier and faster than other purchasing methods of the past.
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  • Customer Loyalty Programs & Rewards — Establishing a mobile app with a customer loyalty program feature makes it easier for you to interact with your customer base and give rewards that can easily be redeemed.
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  • Social Media Interaction & Marketing — Most applications can automatically be connected to social media profiles. Having shareable content within your mobile app allows your customers to spread brand awareness (which means free advertising!) and even give reviews on your products and services.

Community-based goods and services such as coffee shops, beauty salons, and restaurants, as well as corporate structures, such as banks and insurance companies, all benefit from their own mobile applications by improving customer experience. The question now is not whether or not your business needs a mobile app, but how you can create one that is optimized and useful to your business and your customers specifically.

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Written by: Aaftab Khan
Novo is a fintech, not a bank. Banking services provided by Middlesex Federal Savings, F.A. Member FDIC.