About 95 startups are launched globally per minute, but 90% of these startups fail to last more than a few years. So how can startups, scale-ups, and small businesses position themselves for success in a highly competitive business landscape? The answer comes in the form of a mobile app.
A mobile app can be the competitive edge for startups to thrive in their first five years. With a well-developed mobile app that is easy to use and access, companies can improve the user experience. Using the right mobile app development company can also be a cost-effective way to facilitate a company’s growth as initial iterations of the app can be created at low costs before requiring a reasonable increase in investment to develop the app further. In fact, 74% of organizations in industries ranging from manufacturing to IT have experienced a positive return on investment (ROI) from creating a mobile app.
Furthermore, a mobile app can make it easier for companies to get the support of investors for their business idea by showing the potential for scalability, market fit, long-term outcomes, and profitability. Making a mobile app available for purchase can provide a company an extra revenue channel. Experts believe that businesses can earn almost $9.50 per download as well as a 267% increase in in-app spending by 2030.
Startups that wish to make a profit and last a long time can benefit from considering making their own app.
Source: Tapptitude