How To Maximize Your ROI On Mobile Apps
One of the Exaud’s partners, DesignRush, invited our General Manager, Georg Tubalev, for an interview about how to build up a mobile app and how to maximize the return of the investment. Georg gave some tips to create a more profitable app and shared which is the best strategy to monetize a mobile app whether it is Android or IOS.
Continue reading to check the full interview:
How To Build A Mobile App To Increase Revenue
Whether or not a mobile app will increase revenue ultimately depends on your business model. However, there are several generic trends that brands should keep in mind.
Nowadays, people spend more and more time using their mobile devices. Therefore, the companies that have a strong presence in the mobile segment are the “closest” to their current and potential customers.
So, for example, reaching a target audience through the notification of a special offer is far easier on mobile than doing so using a PC – and it’s more personal, too!
Plus, as we mentioned above, due to the ongoing shift to mobile content consumption, a company is being judged based on its performance in that area. If the competition has a tremendous mobile offering and you don’t, you lose.
And finally, there’s a rapidly growing number of revenue models that are based solely on mobile. Think of Uber, for instance, which has a valuation north of $100 billion at the moment. Investing in a functional mobile app can drastically expand your revenue possibilities.
Top 3 Mobile App Design Best Practices
Every professional app is geared toward different brand goals. However, there are a few key tactics to keep in mind that will ensure your app reaches your target audience and encourages them to convert.
- 1. Think of your users first.
As long as your application is solving a “pain,” they have they will keep using it – even if the product is not perfect. Try a design thinking method to keep user experience at the forefront.
- 2. Determine how you’ll make money.
Once that user experience is validated, it’s mainly about selecting the best monetization strategy. That really depends on your product, target audience and even the platform itself.
Curiously, per our experience, “premium” and “freemium” pricing models work better on iOS, while ads can bring excellent results on Android.
- 3. Continually optimize user flow.
How consumers engage with your app is one of the most important key performance indicators. Measure user engagement and satisfaction to see what they are gravitating towards, what they are avoiding, and always improve the app to give them the best experience possible at all times.
Wearable Devices: The Innovative Mobile Platform That Will Explode In 2019
Apple Watch sales climbing a striking 50% in Q4 2018. Compared to the weak performance by the competition such as Android Wear and Tizen-powered smartwatches (e.g. Samsung Gear series), Apple simply seems to be monopolizing the market. Exaud expects that trend to continue in 2019.
However, if you’re looking for another smart platform to tap into, try smart home appliances such as speakers or assistants. Exaud also predicts these helpful devices to grow rapidly in 2019. What’s more? Both Google and Apple are rumored to be releasing new smart home versions this year.
How To Build A Wearable Device App For Your Business
According to Exaud, the key to creating the best wearable device is to focus on delivering the right experience to users. Wearables are used much differently than traditional smartphones, and thus need to be treated like different platforms.
For instance, wearable technology is typically used by on-the-go consumers. Therefore, the average interaction time in one setting is minimal. So, wearable device apps should offer simple user interfaces that allow consumers to use them quickly without any major difficulties.
To create a successful wearable tech app, try following these simple tips:
- 1. Determine which operating system your target audience uses – watchOS (Apple), Wear OS (Android), or both?
- 2. Design a clean interface. Remember, users are looking at small screens, so less is more.
- 3. Incorporate physical cues such as vibrations or blinking lights to improve user experience without cluttering the interface. However, use these in moderation to avoid draining battery life or over-distracting users.
Mobile App Examples In Action
Exaud has been working on several highly innovative projects throughout 2018. Among such are an automotive system relying on gesture control rather than touch interface, a “smart” input device to transform the education industry and several others. We strongly believe that success comes from the combination of the right market fit and technical excellence during the product development phase, which delivers a balanced solution that customers want and can use with ease.
When it comes to the interesting products, we’re specifically proud of several solutions we delivered to our clients. For example, Exaud’s been providing software for highly innovative LS3 smartpens, which were developed by US-based Livescribe Inc and later by Swedish international Anoto Group AB that acquired it – it was chosen the best smartpen of 2018 by several reviewers.
Another exciting project in our large portfolio was developing an iPad game based on the “Frozen” franchise, we crafted a unique experience allowing users to employ Elsa toy as the game controller to move the character in the game. The game was created in collaboration with LeapFrog and Disney.
We’re also proud of our long collaboration with NDrive, one of the world’s leading independent GPS navigation solution providers for mobile and automotive environments.
The Best Mobile Apps That Provide The Best ROI Are…
To put it simply, the ones that have more users are the most beneficial. The larger your user base is, the easier is to achieve excellent ROI.
There are multiple ways to monetize a mobile app, but one must have a significant number of users first. That’s where the innovative part comes in! In order to achieve rapid growth, your product must offer something that people really desire – even if they don’t know they want it yet.