By 2022, it is forecasted that total mobile app downloads will hit about 258.2 billion. This forecasted growth in the market shows that mobile will become increasingly important in the future. Investors who adapt themselves according to these trends will benefit the most. There is clearly an opportunity existing in the market.
It is important to learn from the past. Businesses that ignored ecommerce and focused too much on the brick and mortar format incurred heavy losses. A prime example of this is Toys R Us, who didn’t pay as much attention to ecommerce as it should have. To remain relevant and be profitable in the long run, it is necessary to pay attention to the market.
Since there is still a lot of unrealized potential in the mobile app market, it is a good investment opportunity. There are already a host of wonderful applications available online. Applications like the Airg Spam are popular for providing solid help to users.
Here are the top six reasons why investors should consider investing more in mobile apps.
1. The growing influence of mobile commerce
Mobile is truly becoming more significant over time. More than half of the ecommerce sales on the internet will occur through mobile by 2021. With this growing influence of mobile commerce, investors need to invest more in mobile app development. Mobile apps have a great market today, and they will have a greater market in the future.
Investors with long-term vision are likely to invest in mobile apps. A great number of businesses have already launched their own mobile apps. With the prominence of the mobile app market, we can expect more to follow suit. Apps designed to sell products to the consumer are going to increase in quantity. Ultimately the mobile app market is bound to become more significant in the future. This provides investors with a clear incentive to invest in mobile apps.
2. Mobile presence is simply a must
Ignoring mobile in a world that is embracing mobile won’t be a good decision. Businesses that want to remain relevant in a rapidly changing world need to have some sort of mobile presence. Investors have begun to understand how mobile apps allow businesses to have access to a greater market. To sum it all up, launching a mobile app can clear the way for more sales. It can potentially expand the existing market of your business…
Not only does investing in a mobile app to ensure greater profitability, but it also allows you to remain competitive. The greater the number of mobile apps there are, the higher the chances are that a competitor is also shifting to a mobile app. It is important to have a foothold in mobile apps to establish a brand’s presence and remain relevant. Investors looking for a good return on investment should definitely consider this market.
3. People will spend more time on their phone
A wise investor has an eye out on the future. Mobile will beat television in terms of time spent by 2019. This trend indicates that the time spent on our smartphones is going to increase on average. Mobile will be the king of our attention by 2019. Thus, it is natural for businesses to approach platforms where the customers spent most of their time. Investors who foresee the future consumer behavior realize the importance of mobile apps.
Mobile is the medium of the present and the future. This reality provides investors with an incentive to grab a piece of the mobile app pie. Customers are not spending enough time with other platforms. Moreover, with the rapid development in technology, smartphone penetration and accessibility will also increase. This means a greater amount of audience will spend a greater amount of time on this platform. No wonder why investors are investing more in mobile apps.
4. To build a closer connection with the customers
Since it has already been shown that the time being spent on mobile is increasing, this point isn’t any surprise. Through mobile apps building a closer connection with the customer is possible. Through the use of mobile apps, consumers can be understood at a deeper level. This provides businesses with the opportunity to get closer to the customer. Businesses are better able to customize their offerings according to the customer through mobile apps.
Mobile apps enable businesses to send direct notifications to the individual’s page. Through the use of push notifications, businesses can communicate with consumers effectively. Instead of relying on chance, mobile apps allow businesses to become more noticeable. Moreover, by monitoring app usage understanding the consumer is also possible. The level of personalized and customized offerings that can be presented through mobile apps is astounding. This ability of mobile apps makes investors interested in them.
5. They increase accessibility and boost sales
Customers now have greater expectations. They want to be accommodated with superior consumer experience. The absence of a mobile app could actually make a business forgettable. Other than that, a mobile app enables individuals to feel that the business is more accessible. This perception of higher accessibility is a result of greater visibility. Mobile apps can be claimed to be a step in the right direction.
Customers can use an app anywhere and anytime to get the information they are looking for. The entire process of connecting and communicating with the consumer becomes smoother with a mobile app. The entire consumer journey is influenced positively by the existence of a mobile app. This will eventually positively affect consumer loyalty and increase sales. Investors understand the way mobile apps are beneficial for the overall sales of a business.
6. Mobile apps are a necessity to remain competitive
Companies that fail to adapt themselves to a mobile platform might not remain competitive. A mobile app is necessary to emphasize the values of a business. If all the competitors have a mobile app and you don’t, you’re doing something wrong. The time and effort a business takes to launch a mobile app reflects their level of commitment.
It is important for businesses to improve their offerings in comparison to competitors. Launching a more effective mobile app is a great way to do this. More than 80% of all the minutes spent on a market through mobile are spent on apps. The impact of mobile apps on a world that spends more time on mobile is enormous. It is clear to investors that mobile apps are needed in a highly competitive world.