In the global market, the number of smartphone users continues to increase exponentially, and Statista estimates that by 2026 more than 7500 billion people will own smartphones.

There is no better way to reach your customers than through mobile applications. Whether it's Android or iOS, every company can take advantage of mobility with their custom app.

Over the past few years, digitization and automation concepts have gained considerable popularity within the corporate environment. Nowadays, every industry, regardless of size or operation model, incorporates mobile application development into its operations.

A growing number of established startups have benefited from mobile app development strategies. Discover how mobile app development can benefit established companies.

The market size of mobile applications

By 2014, over 60% of all online traffic was generated via smartphones and tablets. In recent years, social media applications such as Facebook, Instagram, and Twitter have received the most traffic. Mobility has gained a great deal of popularity across the globe in just a few years. According to Reports shows that the mobile app market has been growing a lot and is projected to reach $3 million by 2023.

Due to the increasing demand for mobile applications, the competition among startups is becoming stiffer, and users' expectations are increasing.

Surprising benefits of mobile application development for businesses?

It has become a necessity for mobile apps to continually improve to provide users with the most value from them. 

Recently, mobile app development has shifted drastically for businesses and users alike, benefiting both. It is worth noting, however, that there are already numerous benefits to improving your business's mobile app:

Insights into the Consumer's Behavior

It is through mobile apps that companies can gain an in-depth understanding of their customers. Business apps provide businesses with an efficient means of collecting, analyzing, and leveraging customer information.

The ability to capture information related to customer preferences and behavior allows apps to offer marketers invaluable insights into consumer behavior and influence marketing strategy.

A thorough understanding of your users' motivations, a list of the most popular features, and a clear understanding of your target audience can help you make more informed marketing decisions.

Therefore, businesses can provide consumers with a highly personalized experience through apps that utilize data-driven marketing tactics.

Generating revenue

Developing a mobile application is an effective tool for interacting with your customers and users. By making your business app the most convenient and fastest way to communicate, your app helps to spread awareness of your products and services. Startups, SMEs, and even large companies can use it to increase their conversion rate, ultimately increasing their revenue. 

A survey found that 70% of customers choose a company based on their interactions and experiences.

Ensures that you remain ahead of customer expectations

By utilizing mobile app development services, your business can implement a digital process and model that leads to significant cost reductions and increases in profitability. Many businesses rely on mobile apps to run their operations; therefore, brick-and-mortar establishments can reduce overhead costs.

Businesses gain a competitive advantage.

A wide range of companies within an industry still need to start using the full potential of their mobile app within the industry, and, likely, some companies still need to consider or begin to develop their mobile app. Certainly, this is a benefits card for companies consistently working to improve their mobile apps for business. While the competition in this area is relatively low, it is a major advantage.

Easily communicate with your customers.

One factor that contributes greatly to customer satisfaction is the ease of finding information about a company. The speed of support's response often differentiates leads and conversions.

A dedicated mobile app can be the missing link in delivering your customers the best possible communication speed. Unlike websites and other channels, a mobile app offers greater reliability, personalization, and convenience.

Enhance customer loyalty

Almost every successful business has a high customer retention rate. Providing great value to customers and ensuring their satisfaction is often one of the best ways to maintain a high retention rate.

Industry Use Cases

There are a variety of organizations that benefit from mobile apps. Using the use cases, you can determine whether a product or service will suit the customer. Here are some industry use cases for mobile apps that global companies can utilize effectively.

Banking

The Money Transfer App: With its centrally hosted platform, the money transfer app helps to ensure that the security of fund transfers is maintained by integrating third-party payment processing systems to ensure availability and reliability.

Media and entertainment

Next-generation customers require a convenient and interactive means of searching and booking tickets online. With the development of a ticketing app, you will be able to manage all of your online bookings for your events in a convenient manner.

Healthcare

The popularity of wellness apps is rising due to the increasing use of digital tools to maintain a healthy and active lifestyle. During the forecast period of 2023, revenues in the digital health sector are expected to reach $170 billion.

Retail app

The retail sector has been experiencing an increase in mobile applications released over the past few years by owners of online stores in response to the increasing use of smartphones for online shopping by consumers.

Examples of mobile apps bringing well-known brands success

When you realize that even established businesses with extensive business empires are turning to mobile apps to increase sales and accelerate business growth, the effectiveness of mobile applications becomes apparent. 

Several large brands, such as Starbucks, Walmart, Sephora, and more, have developed mobile applications to increase sales, open new revenue channels, and provide outstanding customer service.

Here are a few examples.

McDonald’s

With the help of the mobile app, McDonald's interacts with its customers in a new way and advertises products that may have been overlooked. Mobile applications captured pictures of customers' favorite meals in March 2013.

Furthermore, McDonald's recently launched an app that allows customers to access its menu and special vouchers to entice them to place an order.

Coca-Cola

Coca-Cola is another well-known company that has developed a mobile app to support its business. Coca-Cola analyzes consumer data to understand consumer buying patterns, how they respond to offers, and how they react to campaigns using artificial intelligence and machine learning.

Starbucks

Starbucks' app makes ordering and paying for drinks easy and convenient for customers, making it easy and convenient to order and pay on the go. The result has been a 26% increase in sales and increased customer satisfaction and loyalty due to the elimination of standing in line to place an order.

Customers can receive rewards and promotions based on their location using the Starbucks app, resulting in a more personalized shopping experience and increased sales.

Walmart

The company has increased sales and enhanced customer satisfaction with Walmart's mobile application. As part of the app, you can shop in-store, pick up your order curbside, and place your order online. Nearly 75 percent of online orders are picked up in stores, and Walmart's app has increased customer engagement and sales.

Conclusion

As the mobile app development industry advances, it constantly changes and evolves. The expectations and demands of customers are constantly changing, as well. The importance of remaining competitive in your business has never been greater. It is an excellent idea to develop a mobile application for your business to enhance customer service, expand your customer base, and attract new customers.