More and more startups are considering developing an app to complement their business strategies, and for good reason. Data shows that startups that have a mobile app are worth 825% more compared to those without a mobile app. With an overly saturated startup landscape where businesses end up failing within their first five years and venture capital (VC) funding being more abundant than ever before, having a mobile app can give startups, scale-ups, and small businesses a better chance at succeeding.
With a mobile app developer partner, startups can boost the user experience while growing cost-effectively. Organizations within the manufacturing, telecom, and financial services sectors have already experienced profitable returns from developing their mobile apps. A business can also find success in pitching their business idea to investors when they supports it with a mobile app. A mobile app can show how the idea has the potential to scale, and address the problems the target audience has, and it can provide a solution, lead to positive long-term outcomes, and yield positive returns.
As app purchases are expected to reach $186 billion within the next three years, mobile apps can generate an additional flow of revenue for startups. In-app purchases are expected to grow by at least 260% by 2030 as companies utilize various monetization strategies like subscription bundling to app data monetization.
A well-made intuitive mobile app can make the difference between a startup finding success or closing its doors within the first five years.
Source: Tapptitude