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Is it the right time for me to build a mobile app?
not having an app means you miss out
The short answer is "you should hurry, as you're almost late". If you run an online business that is successful, being in 2021 and not having an app means that you are in an early stage of startup (and that's on your list soon), or you miss out. In 2018 there were more than 205 billion of app downloads (a 15% increase from the year prior) and by the end of 2021 they predict 258 billion of downloads, that's 25% growth compared to 2018 (source).
To give some insights on how mobile app could help your particular business, we've gathered some great case studies from world-known companies, as well as stunning 2019 stats with predictions for the next years.
To give some insights on how mobile app could help your particular business, we've gathered some great case studies from world-known companies, as well as stunning 2019 stats with predictions for the next years.
Offtopic
Except for mobile apps development services, our company also owns a beauty services marketplace project which has the full complex: both native apps, fully functional desktop and mobile versions. If we could give a piece of advice to ourselves back in 2015 when it all started, we'd strongly recommend to skip the web version at all and completely concentrate on mobiles only service, as today about 80% of our traffic is in apps, and the web traffic has a way worse retention. That could save us quite a lot of time and money which we'd better spend on apps marketing.
standalone services, which do just one thing
What kind of services need apps?
If you run b2b kind of business, you probably don't really need an app as your customers are not the end clients and what you do is rather getting integrated into something bigger for the end-user, thus you can't offer a standalone solution. Mobile apps are good for standalone services, which do just one thing (and do it well), so it will do that one thing even better.
On the other hand, a mobile app should be a stand-alone solution that does one thing and does it well.
If you run b2b kind of business, you probably don't really need an app as your customers are not the end clients and what you do is rather getting integrated into something bigger for the end-user, thus you can't offer a standalone solution. Mobile apps are good for standalone services, which do just one thing (and do it well), so it will do that one thing even better.
On the other hand, a mobile app should be a stand-alone solution that does one thing and does it well.
better experience, engagement, retention, additional channel
How mobile app can help your business?
Better engagement
Better engagement
- A better experience in their phone, a more convenient way to order from the phone
- Case study: "17% increase in visits to their mobile site, which generated 34% more bookings and 38% more mobile revenue" (source)
- "49% of consumers use mobile phones for shopping and 49% of website traffic comes from mobile devices" (source)
- Case study: Here is how ASOS got 58% of their customers to order from the app and raised their sales 32% (source)
- Statistics: "39% of internet users worldwide prefer mobile payments" (source)
- Case study: After understanding their audience better, MakeMyTrip increased conversions by 25% and made a 20% better transaction rate (source)
- Case study: 10bis (one of the largest Israel's takeout ordering websites) "managed to get 15,000 app installs and 70,000 app interactions between October 2015 and January 2016 alone. Their ongoing campaign manages to deliver thousands of new users every month. The best part is that these users engage with the app since they are highly relevant" (source)
growth of 31.5%
What should we expect to change in the upcoming years?
- "Mcommerce sales will account for more than half of all e-commerce sales by 2021 and m-commerce sales from smartphones will see a growth of 31.5% in 2021 and generate nearly $270 billion, while, by 2022, that figure should go up to $432.24 billion." (source)
more case studies
And lastly, here are some tasty case studies of mobile app launches which happen over the last years to confirm once again where it's going:
Couple more numbers worth mentioning (source):
- Dominos Pizza based orders shot up by more than 41% (source)
- Starbucks. "There were 6 million transactions worth $1.5 billion made weekly in the U.S. Mobile payments accounted for 15% of total transactions made in Starbucks-operated stores in the U.S." (source)
- KFC. "The three-month-long campaign helped drive foot traffic by engaging customers who were nearby a KFC store. It also drove a click-through rate that was 40% above the industry benchmark." (source)
- BNP Paribas Bank app launch cased tremendous attention from the press for the bank, which ultimately resulted in new customers. (source)
- Amazon mobile application launch increased their overall traffic by 9.88% for the global traffic right after release, that is four times more than before. (source)
Couple more numbers worth mentioning (source):
- There are 5.1 billion unique mobile users.
- M-commerce sales will account for more than half of all sales by 2021.
- 8 out of 10 Americans are online shoppers. Half of them use a mobile device for shopping.
- 39% of internet users worldwide prefer mobile payments.
You should understand that commercial in the app or in-app purchases won't really make you a billionaire, because 98% of app revenue worldwide comes from free apps (source). Your monetization scheme should be unique enough for the users want to pay it seamlessly, and the number of users that can be reached via mobile app will make you the fortune. We've seen so many various monetization models for mobile apps, that if you feel like it should make the money, but if you don't know how exactly - contact us, and we'll find that unique gold for you.
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