The emerging mobile revolution has very well ushered in an amazing era for today’s business. Websites as well as social media platforms are no more the only one solo way to efficiently build brand equity for ultimately generating sales. Developing custom mobile apps in today’s world is nowadays the new money making heaven for businesses.
And it’s indeed no surprise.
Just in the year 2017, there have been almost worldwide 197 billion app downloads. This gigantic number will eventually explode by an incredible multiple of three in an upcoming couple of years.
This eventually brings us straight to the most critical question: How Much Does It Actually Cost to Build a Mobile App?
Well there’s really no magic formula so to determine the right cost of building a mobile app. All is a game of platform, complexity as well as talent!
In this article on sight, you will get into all the different variables that will directly affect the actual cost and some true and exact figures. This particular way, you’ll definitely know exactly what you’re in actuality getting into.
Factors that Directly & Indirectly Affects Mobile App Development Costs
Mobile applications come in a vast variety of sizes, amazing shapes, variety of colours, and incredible functionalities.
The most significant primary factors directly and indirectly influencing development costs majorly include:
1. The Business Model
2. Mobile App Platform
3. App’s Functionality
4. App’s Design
5. The Concerned Developer
Besides, there are even the hidden costs which is entirely an another ball game.
Let’s take a much magnified look at each of these elements individually.
1. The Business Model
The real quest to start building an app that directly starts with your entire business plan as well as your business model for the sake of bringing in the revenue of your dreams. This particular model will indeed be the most significant driving force in the total costs required in order to build your mobile app.
In order to narrow down your entire business model, you actually need to consider:
1. What you actually need to connect with your prospective customers
2. The perfect price point of your mobile app
3. Your cumulative monetisation strategy
That’s the solo great way to know if you’re actually building something that will really make you some big sum of money.
Now that you understand that your app has a perfect market setup, it’s the perfect time to work on your entire pricing as well as the revenue model.
It sums up to two options:
* The Paid Apps
* The Free Apps
The Paid apps are very pretty simple. You simply make money just by selling your mobile app in any of the online app store. The more number of downloads you start generating, the much bigger sum of money income you pull.
Very quickly browse through a mobile app store, and you’ll definitely see price points almost anywhere right from under $1 to the range of under $20.
Here’s a perfect step-by-step play in order to decide where you eventually fall on that scale.
Step #1: Identify the perfect demographics as well as psychographics of your potential ideal user.
Step #2: Conduct a comprehensive competitive analysis.
Step #3: Keenly identify the ideal prospective buyers.
Step #4: Search out the most desirable centre ground aright between what customers commit to say and then what they’re in reality willing to pay including what’s the most revenue generating for you.
Step #5: Test your wholesome pricing plan with that of the prospective target market.
Now, let’s have a very close look at free mobile apps.
What’s the true value of a free app?
* To effectively drive in-app mobile purchase
* To proactively generate income right from advertising on broad perspective and affiliate marketing
* To increasingly expand the cumulative value of an entire existing product
* To effectively build brand equity
However, the superiority of both the models eventually depends absolutely on your goals for the mobile app, as well as the entire range of competitive landscape. Making use of either model, a perfect mobile app can be incredibly profitable.
2. Mobile App Platform
When it comes to decide on a platform, you can actually build a mobile app that is truly accessible on Web on many devices: iOS (iPad and iPhone), Windows Phone, Android or even all together. Depending on which particular platform you choose, the price of the entire app development will vary.
Now the question arises; which platform should you pick?
Let’s take a very close look at the pros and cons of each of the platform.
Pros of IOS Apps
* Quicker as well as cheaper to build in place of Android Apps.
* Very much engaged and extremely free-spending user base.
* The entire customer lifetime great value of Apple users is much higher than other Android users.
* Much stricter guidelines as well as more of the quality control mean a very much higher quality app.
Cons of IOS Apps
* The Apple’s software requirements are always in a constant flux.
* Your particular app has to be directly approved by virtue of the app store.
Pros of Android Apps
* Android users evidently dominate the mobile web traffic.
* Android has much more numerical superiority.
* The direct cost per install for any of the Android app is much more less than IOS.
* There really aren’t as many more updates as IOS.
Cons of Android Apps
* Almost Android users spend less.
* Consumes much more time in order to develop (almost 2-3 times longer to perfectly develop than the similar app in iOS).
* Much more fragmented devices.
3. App Type and Functionality
By this time that you’ve actually decided on the right and the perfect platform, it’s indeed high time to realistically dive into building the perfectly required app. In this guide, we’ve simply broken various mobile app types into the following four major categories:
* Table/List: well designed basically to display a comparatively much simple collection of database.
* Database: These are much more complex apps, very well designed to allow users so to find, sort as well as display data from vast variety of data sets.
* Dynamic: These mobile apps are very much similar to database apps.
* Games: Simple traditional games can be much more on par with a app regarding pertaining difficulty and pricing.
The most significant thing to understand is that each and every app’s unique functionality needs will carry an applicable cost.
Besides some additional features you may want to include are:
* In-app purchases
* Personal profiles
* Payments integration
* Push notifications & Ratings
Later, you’ll witness how they might prospectively impact the lump-sum cost of app development.
4. App’s Design
In the matter of app development, the design definitely matters as much as the entire mobile app’s functionality.
There are major pillars towards design.
1. Graphic Or the Visual Design
2. The UX design
Everything right from engagement as well as conversions to how “sticky” the mobile app is truly depends on your entire ability to fruitfully provide a gigantic stellar experience towards its users.
So, it’s totally up to you to pic up the selection of the design features that perfectly works for you and a keen design expert to professionally execute them.
5. The Concerned Developer
There are 3 very basic categories of the type of developers you can choose from:
1. The Freelancers: Freelance developers are very much typically the most cheap option. Whenever you are in process of hiring a freelancer, you are eventually just hiring a concerned person and all the associated risks that come with that. In case if the the freelancer is unskilled, you could eventually end up throwing your entire money in vain.
1. 2. Small agency: Small app agencies are a one-stop shops which are traditionally a collection of 3-10 developers focused on developing a specific class of app dedicatedly. On the negative side, small agencies are often found to be unequipped for highly complex apps; landing into related drawbacks.
3. Large agency: Big app agencies bring heaps of experience, and a true big brand lifetime guarantee to the table.Ultimately, there is no multi-million dollar conclusion. It all depends on the level of complexity of the app as well as the tradeoffs you’re willing to make.
Counting Up The True Development Cost of Your Required App
Given the entirely numerous factors that influence app development, it’s very much understandable that determining an “average cost” is a long order.
Understanding this fact, many of the mobile app development companies effectively built cost calculators that could immensely help you assess how much it would actually cost in order to develop your app. Just like the one IncisiveSoft has! These are obviously just the best estimates and won’t provide developer’s specific method for pricing, but they will definitely give you a very good ballpark range of what to actually expect.
Chances are still that you may be relying on your website so as to fulfil all your business goals. Perhaps the reality is that hefty time as well as money investment against an app have kept you lay back. The best truth is, you can still easily catch up. Let IncisiveSoft help you come up! With IncisiveSoft’s decades of experience, a worthwhile mobile app can be definitely built without too much troublesome efforts these days. Comment us, or get our free quote! we are always pleased to help you out!
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28 December, 2017
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