Can a Business Make More Money by Owning an App?

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Can a Business Make More Money by Owning an App?

If your business isn’t getting the desired results vis-à-vis advertising and marketing, maybe it’s time to rethink your approach. One of the most commonly asked questions in this regard is: Can we do things better by developing our own app? With millions of apps already at the Google Play Store and the App Store, it can be overwhelming deciding how best to improve upon what’s already out there.

Where do you even begin? If your company has already built a mobile app, you know all about the fierce competition that exists. Getting your product to stand out over and above the others is a gargantuan task. The go-it-alone approach requires work. To get started, you’ll want to conduct the requisite research on your target market, and especially on your competition. This is sacrosanct.

There’s no shortcut to success. Put in the time and reap the rewards.

Decide which group of customers you’re aiming your product at (drill down into specific target market segments, in detail). Next, conduct extensive research of your competitors. When you come up against the stiff competition, define what makes your product unique and focus your creative energy on that. If you notice that your competitors are strong at delivering specific features, and functions, work hard to match and improve upon them.

Successful companies understand the importance of app marketing. It’s virtually impossible to position a business for success without focusing on the ever-growing mobile user base. In 2021, major changes have taken place in the mobile marketing arena. There has been a cancellation of IDFA by Apple, and this will affect the way marketing is conducted. It’s imperative that businesses focus on the do and don’ts of best-practice marketing strategies.

Here are a few pre-launch steps that are required for getting your business off the ground:

  • Conduct extensive market research
  • Focus on your messaging and branding strategies
  • Set up a realistic marketing budget
  • Create an effective marketing strategy
  • Engage in traditional marketing methods

Mobile applications redirect users to websites that have to be fully functional, user-friendly, and effective at what they do. You will want an LP that converts, and your mobile landing page should reflect positively with users. Don’t forget to include all of the necessary elements such as promotional videos (if required), clear CTAs, details of the business name, logo, and features, and functions.

Too many companies fail to correctly market themselves at the App Store and Google Play Store. To quote an old expression, ‘You don’t get a second chance to make a good first impression’ – this is apropos with an optimized mobile application at the App Store and Google Play Store. All the right elements must be woven together seamlessly, and professionally.

This requires clear titles, headers, sub-headers, descriptions, icons, and screenshots. If at all possible, create content that promotes what it is that you’re trying to market through your apps. Viral video content is ideal, but so is an active blog, and a superb email marketing campaign.

Reach your customers on their turf – on social media. Facebook ads remain a key resource in marketing advertising material to customers. As the process unfolds, you will soon find yourself measuring your app KPIs. These include elements like:

  • Retention Rates
  • Churn Ratio
  • Number of downloads
  • Daily Active Users (DAU)
  • Monthly Active Users (MAU)
  • Stickiness Rates
  • Daily Sessions Per Daily Active User

Why is Mobile Marketing So Important?

Can a Business Make More Money by Owning an App? 

According to Statista (a global stats portal), and a study conducted by Niall McCarthy in October 2019, mobile advertising is set to outpace desktop advertising by 2022. The data indicate that 50% of ad spend is on mobile and the other 50% is on the desktop in 2021. By 2022, the balance tips in favor of mobile ad spending by 51% to 49%. As the year progresses, this trend is going to lean more heavily towards mobile ad spend for obvious reasons.

In November 2020, The Dhaka Tribune headlined with the following: ‘The Wheels Have Come Off On Mobile Internet Use In October’ The article by Bilkis Irani indicates the importance of mobile Internet usage in Bangladesh. Despite the ill effects of the coronavirus and the setback suffered by a dip in mobile traffic, it is clear that mobile marketing is playing an increasingly important role in day-to-day life.

With life starting to get back to normal, people will be getting back into the urban sprawl. That indicates that broadband usage is going to return to high usage levels as mobile marketing resumes in earnest.

Quick Tips for An Effective Business Marketing Strategy

  • Many companies find themselves on a small marketing budget. Fortunately, that’s not an issue since there are cost-effective ways to promote your business. These include guest posting on blogs. This marketing method can be free if the content being submitted has utility value and is not blatant advertising.
  • Besides the Google Play Store and the App Store, there are other avenues for publishing app content, notably the Samsung Galaxy Store, Huawei App Gallery, and the Amazon App Store. Facebook groups are also particularly useful for marketing to users in a niche.
  • Various other options are available such as cross-promotional content, forums, and the provision of expert content.

Now you’ve got a better idea of how to go about marketing your business to your customer base!

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