Is Creating an App Worth It?

Just think about how many apps you use daily. Whether it’s social apps like TikTok, fitness trackers, or accounting apps for expense tracking, the convenience of apps is undeniable. However, their suitability for business ventures isn’t always clear-cut. Opting to place your services within an app, especially one with a paywall, might inadvertently create barriers, potentially diverting potential customers. So, should you bother building an app? Is creating an app worth it? Will it be worth the costs to develop it, market it, and maintain it in the long-term? Below, we’ll weigh up the pros and cons, so you can make an informed decision for yourself. 

Does building an app align with your service or products?

Building an app might seem like an innovative decision for your business, but not all services and products require an app. So, ask yourself the question, will building an app benefit your target audience?

For example, suppose your business offers landscaping services. In this case, it’s essential to evaluate whether your customers have a genuine need for an app. Given that landscaping services often rely on word-of-mouth referrals and clients can easily contact you via email or phone, the necessity for an app might be questionable.

Now, let’s consider a different scenario. Suppose you’re a growing business that manages pay-as-you-go, co-working spaces. You might be considering an app where customers can see all of your nearby locations and book a space in just a few clicks. Here, you’re benefiting the customer by making it easier for them to use your service. 

In other words, before embarking on app development, it’s crucial to assess the specific needs and preferences of your customers. This will help determine whether investing in an app aligns with your business objectives and provides tangible value to your clientele.

Is the cost of building an app a good investment?

App development can be pricey, but what’s worse than having no app at all is having a poorly built app. If you see value in building an app then of course it’s a great investment, but you’ll need to spend time ensuring that it’s full of great features, bug-free, designed well, and overall easy to use. 

One way to reduce costs while maintaining quality is by employing global talent. This strategy means you can access skilled app developers from diverse backgrounds, and enhance the app’s user experience and overall functionality, potentially reducing development expenses.

Alternatively, utilizing app builder tools like nandbox offers a flexible and cost-effective solution. With a range of pricing structures and user-friendly interfaces, while these tools may not offer the same level of customization as custom-built apps, they’re a viable option for businesses with simpler app requirements.

The ultimate goal of investing in app development should be to see a return on investment. This can be achieved through generating revenue from app purchases or in-app transactions. However, it’s crucial to carefully consider whether your app offers enough value to justify implementing a paywall. Alternatively, focusing on enhancing customer retention, boosting conversion rates, and increasing sales can also contribute significantly to achieving a positive ROI.

The pros and cons of building an app

Before starting app development, weigh up the pros and cons. The last thing you want is to spend money on an app that’s not worth it. That being said, there are also many benefits of having an app but considering both sides is always the best way of doing things.

Here are some pros and cons to think about:

The pros

• Increased visibility and accessibility: An app serves as a centralized hub where users can easily access your products or services at their convenience, regardless of their location or the time of day. By eliminating the need for users to navigate through browser tabs or search engine results, you’ll have a seamless and readily accessible platform for engagement. Plus, having an app ensures that your brand remains at the forefront of users’ minds, contributing to increased visibility and brand recognition!
• Enhanced user experience: Apps can offer a smoother, more intuitive user experience compared to mobile websites, leading to higher engagement and satisfaction among users. By listening to your customer’s feedback, you can channel this into your app, delivering on the areas they’re looking for and providing greater satisfaction.
• Direct marketing channel: With push notifications and personalized messaging, apps enable businesses to deliver targeted promotions, announcements, and updates directly to users’ devices. This ongoing communication and interaction with users, facilitate customer retention and loyalty, ultimately contributing to long-term business success.
• Monetization opportunities: Apps offer diverse monetization avenues that enable businesses to generate revenue beyond the initial download or installation. Through in-app purchases, subscriptions, and advertisements, businesses can capitalize on the value they provide to users. 

The cons

• High development costs: The process of app development often entails significant expenses, particularly for projects involving complex functionalities or intricate design elements. Of course, a great app can be very profitable and contribute to other areas of growth, but businesses must carefully assess their budgetary constraints and weigh the potential ROI against the initial investment required for app development.
• Continuous maintenance: While launching an app is a significant milestone, the journey doesn’t end there. Apps require ongoing maintenance and updates to address evolving user needs, technological advancements, and security vulnerabilities, and adhere to best practices. So, you’ll need a team of developers and support staff to monitor app performance, therefore, businesses must factor in the long-term commitment and investment required to sustain the app’s performance and relevance in a dynamic digital landscape.

• App discovery challenges:

Today, there are nearly 9 million apps available so getting noticed among competitors can be challenging but not impossible. Effective app store optimization (ASO) strategies, including keyword optimization, compelling app descriptions, and appealing visuals, are essential to improve app discoverability and enhance search rankings. You’ll need a comprehensive plan in place! Now you might have a more concrete answer to the question: Is creating an app worth it?

• User acquisition and retention: Research shows that on iOS, the average app retention is 23.9% on day one, but drops to 3.7% by day 30. This means you’ll need to consider strong retention tactics as well as user acquisition if you want your app to do well. Targeted advertising can help attract new users and drive app downloads while continuous innovation will ensure that users continue to engage.

Building an app can be a great way of innovating your business to the next level, improving customer experiences, and adding more value. In this article we answered the question, is creating an app worth it? However, app development can be time-consuming and cost-heavy. The best thing you can do is conduct thorough research, gaining a deep understanding of whether an app will truly benefit your audience and what it will entail to start on this journey. By taking this proactive approach, you’ll be better equipped to make informed decisions and set yourself up for success in the competitive digital landscape.