We live in a fast-changing digital era and mobile apps are an integral part of our daily lives. Businesses that do not offer their different services through mobile apps will eventually not survive in the market in the long run. 

The world market for mobile applications will grow by 11.5% every year till 2027 and reach a market cap of $366.34 billion. Most of the revenue will be pocketed by the North American region while the Asia-Pacific market will witness the fastest growth due to low data costs and the rapid rise in smartphone usage. 

Hence, mobile apps will transform the future of several businesses and industries and entrepreneurs need to pay more attention to this growing trend now. 

SOURCE: 

https://www.grandviewresearch.com/industry-analysis/mobile-application-market

Mobile apps are ideal for e-commerce as revenue earned by online shopping platforms is expected to overtake physical stores soon. Mobile apps for a Multi-vendor E-commerce platform can be utilized by customers to purchase a variety of affordable products like beauty care items, furniture, groceries, kitchen items, electronics, beverages, chocolates, sports goods, fashion accessories, baby care items, healthcare products, and other household essentials. 

The step-by-step procedure involved in developing a mobile app

Formulate a feasible idea 

• There are so many mobile apps across various genres existing in the market now. Make sure your app is unique enough to capture a large user base to stay ahead of the intense competition.

• It should be technically and economically feasible. Focus more on solving certain problems faced by the customers. 
• It is best to think differently and create mobile apps which are not increasingly present in a certain category. 

Analyze the existing competition and market conditions

• There is a viable alternative to all the current apps present in the market. 
• Add some special features to your mobile app that are not available in the apps of your competitors. 
• It will help in easily attracting a large target audience, boosting the overall business prospects. 
• Decide your USP based on the users’ interests and behavior. 

Opt for cross-platform compatibility

• Develop mobile apps that will be suitable for both Android and iOS platforms.  
• The app’s final version must be top-notch to easily be listed on both Google Play Store and Apple App Store. 
• Prepare an estimate of the revenue structure and the expected number of users for your mobile app beforehand. 
• Hybrid apps are easy to maintain and can be quickly developed. 
• Native apps work at a better speed but consume a lot of time in the development process.

Incorporate an easy-to-use interface

• The mobile app should be easy to use across all age groups. 
• The presence of widgets and drag and drop options ensures a high level of comfort and convenience for the customers. 
• A clumsy UI will not satisfy the users and they will find it difficult even to perform basic tasks by using the mobile app. 
• Hire experienced UI/UX designers to implement this crucial aspect perfectly. 
• Include animation elements and grid-based layouts to onboard more new users. 

Kickstart the development process

• Join hands with experienced mobile app developers. 
• Stay updated on all the latest information related to the development phase. 
• It is better to partner with a knowledgeable outsourced team as they will be skilled enough to create a scalable mobile app. 
• This will ensure the achievement of your business goals successfully.

Fix a revenue strategy

• While most of the app’s features can be offered for free, certain features can be charged at a specific rate to make money. 
• The other major sources of revenue can be through advertisements, sponsorships for displaying special or exclusive content, in-app purchases, paid monthly or yearly subscriptions, and pay per download (PPD). 

Market your mobile application aggressively

• Marketing is what makes a difference between a fair mobile app and a great mobile app. 
• Promote the advantages offered by your mobile application across various communication channels like online forums, social media, influencer marketing, email marketing, SMS marketing,  press releases in the leading media outlets, and paid advertisements. 
• Track the conversion metrics, the total number of leads, and the inflow of traffic constantly. This will ensure maximum reach for the mobile app. 

Engage in App Store Optimization (ASO)

• App Store Optimization will facilitate the highest visibility of the mobile app on Google Play Store and Apple App Store. 
• It involves the implementation of organic search techniques, conversion rate optimization, translating keywords into more languages, search engine optimization (SEO), and conducting paid search marketing campaigns on the leading social media platforms and Google Adwords. 
• Special focus will be given towards keyword optimization, description of the app, and ensuring more positive ratings and reviews from the users. 

Provide 24×7 customer support 

• Round-the-clock technical support must be available via chat, phone, email, and Skype. 
• This ensures quick solving of users’ issues and also prevents their migration to other apps. 

Issue periodic software updates

• Enhance the functioning of the mobile app regularly through software upgrades.
• This will remove the existing issues already present in the app, ensuring more value offered for the users. 
• The extent of maintenance support will depend on the nature of user feedback. 

Prepare a retention strategy

• The entrepreneur must focus on grabbing a significant user base as well as increasing it over time. 
• If the mobile apps are not comfortable to use and don’t solve the issue faced by customers, they will get a lot of negative feedback and will ultimately be uninstalled by users from their devices.
• Some other aspects to concentrate on are the frequency of sharing notifications and the disclosure of the data-sharing practices to the users. 

Raise more funds 

• As the operational scope of mobile apps increases with usage by customers across different geographical regions, the need for adequate funding is essential. 
• Entrepreneurs can raise money through their own savings, approach banks, venture capitalists, investment firms, and can also go for crowdfunding campaigns. 

The Uber for X clone app for mobile has made a big impact on the functioning of several industries like home services, education, transport, food delivery, e-commerce, healthcare, social media, and entertainment.  Customers can book orders just by making a few taps on their smartphones.

Final Thoughts

Mobile apps will have a strong future ahead. It will be influenced by modern technologies like Artificial Intelligence (AI), Augmented Reality (AR), Virtual Reality (VR), the Internet of Things (IoT), and Blockchain technology in the years to come. Get started with mobile app development now and stand out as unique in the intensely competitive market soon. 

Author Bio:

Sherly dazz –A Content marketing expert, 

I am well-skilled in increasing website traffic by formulating a comprehensive digital content strategy. This contributes to better brand awareness for businesses in the online world.