You might think that your business does not need a mobile app to stay in the market but that was in the past. With the purchasing power now shifting towards the younger segment of the market, the more tech-savvy
Millennials and Gen Z, every business needs to adopt the communication habits of its audience.
According to statistics, 90% of the time people use phones they spend it on apps, only 10% on the Internet. Another interesting fact that 66% of the world’s population have mobile devices as of January’17. Statistics urges businesses of all types and sizes to transform their businesses and integrate mobile apps to their customer experience. Companies with mobile applications had reaped the following benefits, all of which directly affects the business’s profit.
Better customer experience
Mobile apps are more engaging and interactive than business websites. And as most people are now smartphones and tablets users, you can now influence their experience. It is important to keep in mind that good customer experience depends on 4 factors: Fast, Convenient, Interactive, Exclusive. From a customer standpoint, the biggest benefit is simplicity and speed. Adding to that exclusive features such as discounts, easy & fast payments would give you a satisfied customer, and we all know that a satisfied customer is a recurring customer.
With a well developed mobile application, you can deliver personalized content to customers based purely on individual preferences and shopping patterns. Recommended products are should create content around each customer’s personal interests. User location, interests, social media profiles, items viewed, etc. all can be used to recommend items for each and every user. An estimated 35% of sales are said to come from Amazon’s personal recommendations proving that tailored content is a step further in generating higher revenues.
We know by now that user retention is directly related to the fast loading of pages and items. Mobile applications load 1.5 times faster than websites as there’s is no need to pull data from a server so customers can browse and purchase products faster. The benefits of faster purchase are positive customer experience, easy and repeat purchases, increased sales. M-commerce revenue has been rising globally at 30 to 40% rate annually since 2014. M-commerce also projected to rise at an annual rate of above +20% through 2022 in the MENA’s top markets including Saudi Arabia and the UAE.
Deep Data Analytics
Now more than ever, mobile applications are providing their creators with data on their users. Knowing customers, for using features such as the tailored content aforementioned, demands data, at least very basic information like age, sex, location, shopping history. You can also custom build and set user analytics of various levels of complexity. No matter the industry understanding your target audience will enable you to increase sales. Walmart app that 22 million customers use every month, uses mobile data, online data and sales data combined to deliver better customer experience.
According to Statista, mobile apps are anticipated to generate around $188.9 billion, yes billion, by 2020! As this is enough said, don’t wait too long to claim your slice of the m-app cheese!