10 REASONS WHY YOU SHOULD
INVEST IN THE DEVELOPMENT
OF A MOBILE APP
Apps are everywhere – you don’t research to see that. Just look at any group of people – in your home, or in public. How many of them are looking at their phone, tapping on the screen, scrolling with their finger? Apps are now so common and so popular that they are ubiquitous. They are a part of everyday life. For that reason alone they should come onto your investment radar.
At HHG we are involved in many technology opportunities with a range of exciting startups. As a result we see a lot of activity in the app market, and have a good insight as to what works for investors, and what doesn’t. Here are our top 10 reasons why you should invest in the development of a mobile app now.
- The Explosion of Mobile Use
Mobiles devices are now so extensively used by consumers that it is no longer enough for brands to simply have an online marketing strategy focused on desktop devices. Just look at some of the biggest names on the internet – Facebook has been operating a mobile first strategy for years, and Google changed its algorithm this year to effectively promote mobile friendly websites over those that are not. With apps brands can make a deeper connection with users than on websites, and they can offer more personalized functionality. This helps organizations from startups through to established companies take advantage of the explosion in mobile use.
- Personalized, Go-Anywhere Marketing
Apps give brands the opportunity to build a relationship with their customers. It is a very personalized way of communicating as apps exist on the screen of their user’s phones. Essentially it is a marketing and advertising tool that is in the pockets and handbags of potential customers, and it goes everywhere with them.
- Harness The Power Of Social Media
Social media is a part of most people’s everyday life, and brands can take advantage of that. As an investor you would probably love to find the next Twitter or Facebook, but you can harness the power of social media in any investment. Reviews, blogs, comments, in-app messaging, etc all come under the social media heading, and they present a great opportunity for startups and their investors to tap into the social media trend to build bigger brands.
- Getting More Sales, And Improving Customer Service
Consumers want two things from technology when they are making a purchase – security and simplicity. When you deliver on these expectations in an app, you will get more sales. Your app can also be a two-way communication channel, allowing customers to make contact, ask questions, and get support. So not only can apps increase revenue streams, they can also help to retain customers by improving customer service.
- Data Capture Tool
As an investor you need accurate and relevant information to help you make profitable decisions. This doesn’t end once you make your decision to invest though. The most profitable investments are in companies that are willing to adapt and change. To do that you need data, which is another reason why apps are such a good investment.
- Generating Interest
If you want to invest in something that will generate interest and gain traction quickly, an app is a good choice. And once you have gained that traction and generated some downloads you can use the app to keep the interest going, using things like push notifications and in-app messaging. When you invest in an app you are investing in a product, but you are also investing in an ongoing marketing tool.
7. Apps Get Users Engaged
The holy grail of marketing is to get users to interact and engage with a brand. As an investor you want that to happen as soon as possible when a new company or product is launched. If that product is an app you are likely to get more engagement from customers than on any other medium. Plus you can use that engagement to increase the reach, and get more sales. An example is getting users to complete profile information so you can send the personalized, targeted offers.
- 24/7 Operation
The 24/7 nature of apps opens up global potential for startups. There are no restrictions on when users can access them, which means business costs can be reduced, customer service can be improved, and sales opportunities can be exploited wherever and whenever they arise.
- Targeting A Younger Audience
If you want an investment that targets and appeals to the younger generation, an app is an ideal choice. About 75 percent of younger people have smartphones. They are comfortable with using and engaging with apps.
- The Convenience Factor
User convenience is another reason to invest in mobile apps. People use apps because they are convenient – they are easy to find, they are easy to download, they are easy to install, and they are easy to access. This is one of the reasons that apps are so popular, and it is also a reason why that popularity is unlikely to fade.
Mobile apps present an opportunity for both startup companies and investors because their time is now. People use the devices that mobile apps run on, they are used to downloading and using apps, and they are curious about finding new apps to try. Existing businesses need a mobile strategy that includes mobile apps too, but for new companies the low cost of entry into the market, and the revenue potential, make apps the ideal investment.