With the launch of various new app stores and the emergence of a store dedicated exclusively to serve the Apple Watch, thousands of millions of applications have been developed and the market has prospered.
The thought that the booming app market may simply be a bubble ready to burst is what keeps skeptics from investing in an app. After all, the time and money that goes into creating an app is usually hefty, so planning it out and weighting options is a must. However, this industry is definitely not a bubble and the following are our reasons why.
App Stores are profitable
App stores generate millions in passive income. Companies like Google, Amazon and Apple reap these amounts simply from the membership fees they charge developers and from the percentages they keep from sales made on their online stores.
Needless to say, the giants that operate these app stores will do anything possible to keep the app market relevant
Apps are tools for adding value to the customer’s life but they are also some of the most effective tools to have in your marketing repertoire. Every industry (retail, customer service, law) expands its reach instantly when they have an app, as this means the potential to attract an additional (perhaps younger) market.
Giving clients the ability to download your app also ensures that you build up your bond with clients more rapidly. For example, suppose you own a restaurant and decide to offer a discount to those who install and order food through your app for the first time. Downloads of your app will follow and many of these customers will continue using your app out of sheer convenience.
Apps are convenient
Apps also provide businesses an easy way to manage their workforce remotely at a reduced cost. Most business employees already own smartphones or tablets. By developing an app for internal company use and encouraging employees to install it, business owners can rely on this channel to manage their workforce and save themselves from investing in company subsidized communication devices (hopefully not walkie talkies).
Tech giants make products for themselves
Apple, Amazon, Google and others are too busy innovating their own services and carving the way of tech to bother with offering to develop apps for smaller companies. As hardware and OS developers, these and other main companies want others to install their own tools -- not the other way around.
The only apps OS developers at Apple are concerned with are those that come pre-installed in their iPhones. So remember: As long your app offers new value to a consumer, it’ll be worth investing in.
Support is always within reach
OS developers are constantly releasing updates, but they are usually pretty good about releasing guidelines to help developers adapt their apps to new standards.
This is a promising sign for the future of the app world as these friendly guidelines offer a “no app left behind policy.” Investing in an app today (and upgrading it accordingly) will mean that it will still be a functional product in a few years.
Your product adds value for the client
Uber, Lyft and all driver-oriented apps are for the taxi industry what Airbnb is for the hotel industry: Proof that not investing in an app will mean sour consequences for a business.
Good ideas, when paired with innovation and technology always provide benefits for the business and its consumers. The worst that could come out of developing a well thought out app is that you will just end up with an additional tool to market with… not a bad thing.
Future tech trends
1) Shows that there will be an increasing need to build apps to augment/use this new tech and
2) Ensures that app stores will remain profitable for years to come.
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