Return On Investment (ROI) for Developing Mobile Applications - Google Docs

1. The benefits of developing a mobile application for our business are numerous: from brand positioning to boosting sales, issues we have already discussed on our Hyena blog. However, investing in building an app is not cheap. The price of developing an app is considerable. It is therefore necessary to work from the beginning of the project on the type of return on investment (ROI) that one wishes to obtain. In this sense, the return on investment of mobile application development is not always the same and may not even be proportional to the investment made. This is the reason why we have to analyze how it will be for our mobile application. We discussed how to monetize a mobile app some time ago. App monetization techniques and strategies are diverse and can be tailored to each particular app. best application development company in Kuwait However, we will now go further and define how to determine the ROI in application development projects and more particularly in that concerning our application. The most important thing is that the objectives we want to achieve with our application project are defined from the start. Is this an app for your business? Or is it more of a money-making game? Developing mobile games to make money is not the same as building a business app to enhance your brand and be able to connect more directly with your customers. Read More: How Much Does it Cost to Develop an IoT Application

2. ROI for your brand application Mobile branding and service applications are applications that can be downloaded and used free of charge. They are not intended to generate any kind of return on investment from their mobile app development process. application development company in oman If we want to bet on the development of applications that aim to promote our brand and give it a better reputation, we must realize that the return on investment will not come in the form of direct income. The return on investment when developing branding applications can usually only be measured in the medium and long term. The benefits that such an application brings to us will result in a marked improvement in the perception of our brand and an increase in the intention to purchase of customers. Greater customer loyalty will also be achieved as our business leaps into the current era of modernity and innovation. It is also a good technique to differentiate ourselves from our rivals in the industry. best mobile app company in Dubai And we're also going to do some broader promotion of our brand and company and maybe even go viral. If we concentrate on making apps for Android and iOS devices, we will be able to accomplish all of this more quickly. ROI in the development of hybrid and paid applications If we are looking for an immediate return on investment for the development of our application, the fastest way to obtain it is to apply the pay-per-download model.

3. However, this method is not a favorite among users, since having to pay an initial amount for an application without having been able to try it creates very high expectations that are often not met. There are other ways to monetize the apps we develop than making customers pay per download. Read More: kindle reader app cost There are many different business models for apps, but the following two are the most widely used among paid apps. One option is to set low prices for downloading our app. WhatsApp is a good example. In such cases, the prices for downloading the applications do not exceed one euro, so the cost for the customer is not very high. Nevertheless, your ROI regarding application development will be obtained in the long term. The other possible strategy is to opt for higher prices. Needless to say, we have to be sure that our product will be sold. This is the case of some relatively well-known video games that adapt to mobile devices and whose return on investment is guaranteed. Read More: Cost To Develop Real Estate App ROI in the development of hybrid applications The markets are full of hybrid applications: these are the most abundant applications and also those that offer the most possibilities for monetization. The business models of these apps focus on gaining benefits after downloading them. The return on investment when developing such applications will be faster. It can be obtained through advertising, in-app mobile payments, subscription payments, or the business model followed by so-called freemium apps. The latter were a success story in 2013 and are still booming. Other Types of ROI in Mobile App Development It is also possible to get other types of ROI in mobile app development. Some companies sell user information to third parties. hr management company in bangalore There are also many others that seek to analyze user behavior or patterns in a given industry.

4. If our case is that of an SME, we must focus on having an application that is useful. We will always get a decent return on investment - whether direct economic in nature or not - in application development, as long as our application provides a serviceand is beneficial to our users and prospective clients. How to measure return on investment? The measurement of the return on investment (ROI) of an application development process directly concerns our application and depends on the operating system for which it was developed. Hyena Information Technologies In this sense, it should be borne in mind that Apple Store and Google Play are the best known markets. They offer tools to keep track of our app's download times, as well as the countries it was downloaded from and user performance data. We can also check the comments and opinions left by those who have tried our application and the error reports it may have generated to act accordingly and solve these problems in future updates. Read More: Cost to develop on-demand healthcare App