# Business development

Are mobile apps a waste of money?

Red Rocket teamJun 5, 20246 min read

Intro

There are many people nowadays who don't even remember those old big-button phones that were only intended for making calls. Just 10-15 years later, mobile technology has taken a big leap forward and now provides users with a lot of options. Playing games, making videos, learning, shopping, and much more can be done with a smartphone.

What to choose in 2024 - mobile apps vs web apps? We at Red Rocket decided to delve deeper into the question of whether businesses should invest in mobile apps and answer popular questions from users.

Some Numbers About Mobile Apps

To understand more about mobile app development effectiveness for business owners, it's worth looking at statistics and expert forecasts. As some studies show, people have started spending 20% more time on their phones than they did five years ago. For example, according to Statista, the forecast for mobile app downloads worldwide gives business owners optimistic figures.

The use of mobile apps is very popular today and will grow rapidly in the coming years. At the same time, mobile app downloads cover a wide variety of areas of human life.

What Businesses Need Mobile Apps?

As you might have already realized, today mobile apps are not only used for gaming. Whatever your business specializes in, it's worth considering an investment in mobile app development. We've gathered the most popular business areas where mobile apps are most in demand:

Games. Obviously, many people associate smartphones with games, so this is a great direction for creating a mobile app.
Social networks. We are all used to communicating with our friends and loved ones online. The application in your phone makes it faster and easier.
Finance and banking. Imagine how many people use financial services every day. Already all leading banks have introduced mobile applications for their clients.
Shopping. Making orders online has been particularly popular since the days of Covid-19, but this trend is still relevant today. Shopping through a mobile app is much more convenient than through the web version.
Traveling. Users can organize their recreation more comfortably if the whole process is done through the phone.
Restaurants. Ordering your favorite dishes for dinner using your phone is something that has long been a familiar thing for millions of people.

These are just a small part of the areas of business where mobile apps will be able to provide you and your customers with benefits.

Pros and Cons of Mobile Apps

Is developing an app worth it, or is it just an extravagance that doesn't justify the costs? Before you decide if mobile apps are worth the investment, it's worth taking a closer look at the benefits of mobile applications for businesses and the disadvantages. We've gathered honest and useful information about mobile apps.

Pros

Increases brand visibility. One of the main advantages of mobile apps for business growth is their ability to enhance brand recognition. Imagine having your app present on a user's smartphone, ready to be utilized at any time. This creates a constant presence of your brand in the consumer's life, strengthening brand perception.
Profit. Developing a mobile app can be a significant source of additional revenue for your business. Many companies offering convenient and useful apps to their customers note increased sales and revenue growth.
Easy communication with customers. Mobile apps provide a direct channel of communication with your customers. Through push notifications, in-app chats, or feedback features, you can easily inform users about new promotions, offers, or product updates.
Boosts customer loyalty. Offering a convenient and functional mobile app can significantly boost the loyalty of your customers.

Cons

Mobile app development cost. Developing a mobile app can have a significant impact on your budget. Hiring qualified developers and designers, as well as ensuring testing and app promotion, all require a financial investment.
Establishment period. Mobile app development typically takes time. From initial planning to the final launch on the market, it can take several months. This can be problematic if your business needs to react quickly to changing market conditions.
Support and maintenance. After launching a mobile app, it requires ongoing support and updates. This may include regular bug fixes, adaptation to new operating system versions, and adding new features according to user needs.

Developing a mobile app in 2024 for business has more benefits than drawbacks. However, you should not forget about the potential risks of investing in mobile apps.

Development Process

If you have realized that the mobile app market profitability is high and you are ready to create an app, you need to learn the whole process of development. Let's delve into the crucial stages of the development process:

Idea

Conduct market research and competitor analysis to find a solution that will resonate with users and drive the efficiency of mobile applications. By choosing a sought-after idea, you will know how profitable mobile apps are.

Platform Selection

At this stage, you need to decide on which operating system your application will run. Maybe an iOS, Android, or cross-platform app. The best solution is to create a product that is available on all common platforms.

Development

Such a phase involves turning the app concept into reality through coding and design. Our Red Rocket team consists of professional developers, designers, and project managers who work collaboratively to create powerful and user-friendly mobile applications based on customer needs.

Testing and Launching

Once the application is created, it will be rigorously tested to identify and fix any bugs or glitches. The development process plays an important role in determining the success and financial impact of mobile apps. By partnering with a reputable app development company like Red Rocket, businesses can maximize the efficiency of their mobile applications and increase their chances of success in the competitive app market.

Need a Custom Development Solution?

Let’s collaborate to help your business.

Frequently asked questions

Do mobile apps increase revenue?

Yes, companies can increase their revenue with the help of mobile apps. The number of mobile users is constantly growing, so the number of potential customers for businesses is increasing.

What is the cost of making a mobile app?

The mobile app development cost depends on a number of factors. In general, a normal app can cost around 10 thousand dollars.

What are the most popular areas of mobile apps?

The apps users download most are apps for gaming, financial services, shopping, photo and video, and social media.