Move over Internet, the age of mobile is here. Right now, all digital growth is being driven by mobile use, according to the 2016 U.S. Cross-Platform Future in Focus report compiled by comScore. Consumers are using mobile devices to browse the net, consume content, and to shop online. A whopping 65 percent of all digital media time of users is spent on a mobile device. Desktop computers, once the choice device for accessing the internet, is becoming just a “secondary touch point” in the U.S., according to the comScore report.
This new changing reality presents incredible opportunities for entrepreneurs and businesses. If a B2C company does not have a mobile-responsive website, or better yet an app, then that company is not going to survive for long. More and more businesses are inching towards developing mobile apps to attract and retain customers. Domino’s, the pizza brand, recently developed a pizza-buying app to boost sales at its brick-and-mortar branches. A veteran entrepreneur in the trucking industry, Bill Busbice, recently co-developed a unique app called HWY Pro for truckers who are highly reliant on mobile phones.
It’s becoming increasingly evident that businesses should invest in mobile apps or similar mobile-based tools to remain competitive and keep customers coming back. Here are several ways for businesses to capitalize on making investments in the mobile app market:
Target Mobile-Reliant Audiences
When Mr. Busbice came up with the idea for HWY Pro, he was keenly aware of how reliant truckers have become on smartphones. New trucking technology often rewards large companies, not the individual truckers themselves. Therefore, an app geared toward independent truck drivers is indeed something quite new. Truckers already use apps to navigate, track sleep, and keep in touch with family members, for example. HWY Pro will also let truckers manage routes and reduce time wasted during long hauls.
HWY Pro was just recently launched and is set to become a huge hit because of the high demand. The success is solely attributed to a target audience that already uses smartphones at work. When investing in mobile apps, investors are encouraged to first assess the habits of the target audience as Mr. Busbice did. If the target audience already uses a mobile phone to engage in activities related to the app, then the new app will be a huge success.
Investors Can Get Massive ROI on New Apps
Investors of a new app called AppBackr are making superb returns, as high as 27 percent. The new update for this app is believed to increase ROI to about 54 percent. It looks spectacular, mostly because the app is new. Developers of new apps are willing to allow investors to make huge returns because they can get a steady flow of funding until the app has a major following. Therefore, the best way to make money from the app craze is to invest in new apps, rather than in established brands.
Solve a Problem
Consumers are not super excited about just another rating or check-in app. The apps that truly have a chance of succeeding are the ones that solve a problem. HWY Pro, for example, solves a long-standing inefficiency problem in the trucking industry. Apps like Uber changed the game for the commuting sector by simply addressing a major need. App investors, therefore, should look for apps that solve real-life problems for consumers to get guaranteed returns.
Investors can choose to jump in and develop an app, like Mr. Busbice did, or fund a third-party app. In either case, follow the above tips to recognize which apps have the best chance of succeeding.