How Do Mobile Apps Help Enterprises Grow?
How Do Mobile Apps Help Enterprises Grow?
The rise of mobile devices has practically revolutionized the world today. We now find millions of apps online for purchasing, ordering clothes, accessories, and various products. These prospects have made mobile applications very important for the growth of business enterprises.
Interactive mobile applications coupled with an attractive user interface enhance the customer experience and once customers are satisfied, you can increase your retention rate.
How Mobile Apps Affect Business Growth?
Here are a few ways mobile apps are helping business enterprises grow:
Generates New Sales:
Mobile applications are playing a crucial role in helping businesses attract users and enable them to generate new sales. According to statistics, businesses across industries have seen a growth rate of more than 70% in new sales after launching a mobile application.
For instance, e-commerce apps have made it easier for consumers to shop for products. They do not have to worry about time constraints or making a physical effort to go out for purchasing.
The unparalleled growth of the e-commerce market has prompted business enterprises to launch their mobile applications and increase their ROI with new sales.
Increases Customer Retention:
It is a known fact that customer retention is a key factor that determines if a business can survive the vigorous competition in the market today. Developing custom mobile applications with an easy-going interface enhances customer experience.
When customer experiences are enhanced, existing customers naturally feel valued and stay hooked to your business. Some customers can do one better and start recommending you.
To give you a perfect example, Starbucks, one of the leading coffee chains in the world, leverages its mobile application to increase retention and drive sales.
Starbucks’ mobile application comprises features that enhance user experiences. Customers can place an order anytime and are provided with flexible payment options.
As a result of this development, more than 40% of Starbucks’ payments are received through mobile applications. This has increased their customer retention rate to a staggering 50% which is more than most businesses can hope for.
Reduces Operational Costs
Interactive mobile applications help businesses a great in reducing operational costs. It helps them keep an online record of data like work orders, timesheets, inventories, inspection records, online reports, and more.
The use of online marketing techniques has helped businesses save a large amount of money by reducing the costs spent on daily business operations. This is another clear indication that mobile apps boost business growth.
To explain this to you with an instance, let us look at Cumberland Farms. It is a giant business corporation housing more than 8,000 employees. But with all their records on paper, they were facing contingency issues in daily operations.
They resolved this issue by launching a mobile application and building online forms with features to overlook trivial operations. Not only did this enhance their internal operations but also enabled them to implement it cost-effectively.
In recent times, advanced technologies like AR/VR, AI, and ML are integrated into mobile app development to help businesses go virtual and reduce operational expenses to a maximum.
Profitability Through the App Store
If you are still wondering how a mobile application can grow your business, this will put your doubts to rest. By building a mobile application to drive conversions,
you can also compel potential customers to try your services at a premium. One of the most effective strategies used in this regard is offering a free trial.
This drives up your conversions by a large margin and helps you establish a stronghold in the market. The business growth entailed from this drives up the productivity and ROI significantly.
This shows how seamlessly mobile apps increase the revenue of the business. Spotify, one of the largest music applications, treaded down a similar path. By offering a free trial, they draw the attention of customers. And with their offerings, they convert more than 40% of their trial prospects.
Creates an on-demand Marketplace
Creating an on-demand marketplace does not require launching a completely new business. You can achieve this by simply launching an interactive mobile application.
Rover, a popular mobile app known for offering services like dog walking, dog boarding, dog visits, house sitting, etc. tripled their net revenue between the years 2017 and 2018.
At the end of 2020, their company was valued at roughly 1 billion USD. Mobile apps have allowed Rover to implement new features that were not available on the website prior.
This is one of the prime examples that an enterprise can create an on-demand marketplace seamlessly while also reaping all the other benefits that a mobile app brings to the table.
Mobile applications are the way to go for businesses these days. Every business ranging from a startup to a well-established corporation has a mobile app that helps them connect easily with their customers.
As one of the best mobile app development companies, Sapizon Technologies renders next level mobile app development services. Our team of developers puts in immaculate creativity, skill, and experience to create innovative applications.
Book a free appointment with our team to know more.