As an entrepreneur does the following things happening to you.
You are pushing too hard to turn your vision into a successful business venture, but success appears too far from you. You have tried so many walking canes of the digital universe, but advancing and staying ahead of the curve seems unachievable tasks.
Now, connecting and engaging with existing customers has become a hard nut to crack in. It appears as if the hard work and resources you pour in to establish your business, maximize productivity, and boost the bottom line
It’s truly upsetting!
Don’t get disappointed. It’s the case of many entrepreneurs who have resisted blowing in the direction of the wind of change and alas, the opportunity to innovate and raise a toast to success was lost.
Opportunity does not knock, it presents itself when you beat down the door. – Kyle Chandler.
Here, it’s about mobile app development that’s unfolding enormous opportunities for businesses to outgrow, outperform, and outdo in the fierce competition.
No business can afford to ignore the development of business strategic app because mobile apps have become part and parcel of user’s lives. And, businesses should be present where their customers are for connecting, engaging, and selling offerings, which in turn, fuel up the sales and revenue. Let’s skyrocket your business revenue by knocking the door of mobile opportunity in a myriad of ways:
Create paid apps
In the last decade, developers have witnessed a roller-coaster ride on the app store. When the app store was launched, the only monetization model was paid apps and it worked well for a long time. Later, free apps made their way to the app store, and paid apps started losing their charm. But, it doesn’t indicate paid apps have become a thing of the past.
Still, there are hundreds of paid apps on the app store that are generating millions of dollars just because they have been crafted intuitively and they intrigue users. Engaging users look no further when it comes to installing app of such type.
In a nutshell, build paid apps that appeal and engage the users with an elegant design, and unique features that users don’t think twice before opening their wallets.
Add a flavor of premium to freemium apps
Free apps launched a few months post-paid app launch on the app store were packed with the in-app advertisement, subscriptions, or paid features monetization models to bring huge returns to the businesses.
Under the paid feature model, users are first made to download the app and stay glued to the app with phenomenal features, and later, set them on fire to willingly spend a few bucks by unlocking the next levels or paid features.
In-app ad revenue model works wonders when the app has acquired a good number of users and loyal fan base as the advertisement channel brings more revenue when the ads are viewed, clicked, and an action is made by the users.
Partnering with third-party services, you simply place the ads on the app and get dollars in return according to CPM, CTR, and CTA model as agreed upon. Don’t place so many ads because it ruins the user experience and the monetization strategy would result in app deletion. Leverage the premium model judiciously to create a consistent revenue stream.
Get local with push notifications
Mobile is no longer a novelty, but it has become a necessity for people in every way. Harnessing mobile app power, businesses can connect with target users astonishingly through geo-targeted push notification capability.
It’s most desirable for brick-and-mortar stores such as retail stores, restaurants, coffee shops, or shopping malls.
For instance, users who download the Starbucks app when going in the close vicinity of a Starbuck store, get a notification to try one of the new espresso drinks or enjoy the double-smoked bacon at half-price.
The push notifications of user’s interest like- relevant information or exclusive discount make them visit the store and boost the loyalty that ultimately increases sales and revenue. It’s simple but very effective.
Stay personalized with improved visibility
Let’s accept it: mobile app interactions are providing a mountain of user data. And when organized, analyzed, and rich insights extracted, it becomes an invaluable source to marketing strategies designing and modifying.
Using analytics tools, an app journey of every individual can be traced and analyzed, which gives more understanding about the user’s taste and interest and that further helps in engaging and converting users through customized messages.
For instance, retailers have taken perfect use of the M-commerce apps to track user interactions and then sending the hyper-personalized messages such as order the product added in the cart, price drop for the product recently browsed, or the special discount for the product category that user likes the most.
Build your brand leveraging app power
One more door of possibility that mobile apps open is improving brand visibility. The business icon of the app when appears to the users when they are just swiping through the screen, it remains stored in the user’s unconscious mind all the time.
Secondly, when the app is created with brilliant designs and useful features that users will love, then there is no denying that the user would like to engage with your brand and eager to buy the offerings. Engineering the app in the best way work as an effective tool to increase brand awareness, enhance brand recognition, and create an army of a loyal fan base, which in turn, uplift the sales volume and thus the revenue.
Also, mobile app reduces the cost associated with brand building and recognition through traditional ways such as billboards, pamphlets, TV ads, or newspaper ads. When the cost reduces and sales increases, definitely the profit quotient will increase.