With more organizations investing in mobile applications, you may be asking yourself if your company should too. With over 5 million applications on both the Google Play Store and the Apple Store – you may think that “now” is the time to capitalize on the tech trend.
Before you invest in an app for your business- ask yourself these questions to see if a company app is right for you.
Do you have the money to invest in an app?
Apps are pricey. Even if your company employs coders, UX designers and PR - creating an app is going to cost money to develop, test, and advertise. While smaller apps may run between $10K and $50K - larger apps can cost 10 times more. Before you plunk down thousands of dollars for an app- make sure that this app will help further your business. fc
Does this App further your business?
Many companies create an app for their product because it enhances the product itself – or in some cases like Uber or Lyft the app is the product. Uber and Lyft cannot work without the app since customers don’t have the ability to order a car on a website.
In other cases the app increases the user experience. Many national banks and even some local banks now offer its customers mobile banking. With mobile banking a customer can take a photograph of their check and deposit it into their account right from their app – a feature that is not available on the bank’s website encouraging clients who want to use mobile banking to download the application.
Do your competitors have apps?
If your competitor has an app, I would encourage you to download it. What is the main purpose of their app? Are they offering any features exclusively on the application that customers cannot get on their website? How does this applications features compare to what you’re offering customers? If your competitor has a fresh take on the industry due to their application while including compelling features- I would suggest that you too invest in an application.
What do you hope to accomplish by creating this application?
Before making any decisions it’s best to have a clear understanding of your company’s goals and strategies. Does the development of an app help your business achieve these objectives? If the answer is a resounding “yes”, then an app is a good investment for your organization. If you are unsure or are leaning towards “no”, it may not be the right time to invest thousands of dollars into an application- even if your competitors are.
While there are many reasons to develop an application for your product- there are also many reasons not to. Each organization must decide for themselves if an application is right for them. This decision should not be taken lightly. Furthermore, each business should look at this decision with a critical lens from all different angles to ensure they are making the right decision.
Does your company have an app? What were some of the reasons you decided to invest? What were some of the reasons that made you hesitate?
