Eight out of every 10 startups shut down their operations within the first 18 months, claims Bloomberg. Surprisingly, the lack of investment or funding is not among the key factors. The most common reasons include disconnection with the customers, the organizational failure in communicating value propositions to them, and inability to nail a profitable business model with proven revenue streams.
Sounds discouraging? However, being human, you shouldn?t stop, rather than take lessons from failures and move ahead with a prudential planning and greater intensity. With mobile becoming a center stage of employee- and customer-engagement, it?s a must that you adopt a healthy, robust, inclusive and integrated mobility solution partnering with a competent mobile app development company. Here is how this partnership can boost your business.
Reaching Out Target Audience Effectively
You are offering a product or service and so are your competitors. Perhaps, they could have an established brand value and customer base, and a revenue model stronger than you. You have to literally snatch customers from them. And that won?t be easier? So you must approach them intelligently, make them believe prospects that what you are offering has better value propositions, and urge them to take the decisions that you want without any delay. So the communication through the mobile app should be clear, concise and compelling. Here comes the significance of delivering the right user experience that can speak the language of the market but better than how your competitors are doing.
Cutting Operating Cost
To build a profitable business model, you must think of ways of optimizing ROI (Return on Investment). Cutting the operating cost could be one of those. Inducing agility into a business ecosystem facilitating a better communication with real-time data or information synchronization and sharing, mobile apps can help substantially in reducing the operating cost. Here comes the role of your technology partner. The staff involved in the mobile app development must have proven information architectural skills and domain expertise besides the know-how in harnessing the capabilities of the native or cross-platform app development resources based on the target platform.
The marketplace competition is on the rise. It will continue to do so. There is no way to skip. We all know it very well. The only rational and intelligent way is to outpace the competition delighting users. Yes, you need to move beyond the traditional customer-satisfaction concept. Innovate your customer engagement model -- empowering your employees, partners, and customers. This will inspire and encourage your people to deliver more and your customers to want more. However, the balance has to be maintained between the supply and demand. Maintaining consistency, you are likely to witness two key benefits: improved upsell or cross-sale and improved referral customers as word of mouth does wonder. So the journey ahead becomes easier and cost effective.
Gaining Business Intelligence
Implementing mobile analytics, you can have the big picture of the user experience. See the user journey right away from the flash screen to the checkout screen measuring actions they take, hurdles they come across, expectations they nurture and feedback they shared. There are numerous mobile analytics tools like Mixpanel, Google Mobile Analytics, Flurry, Apple App Analytics, Apsalar, to name a few. Check their features, capabilities, and prices, before you ask your mobile app development company to get one integrated with your app.
Looking forward to outpace the competition? Feel free to discuss your requirements. Our technology consulting and app creation services can let you make a difference to your customer engagement, productivity, and delivery models.