Questions To Ask Before Investing in A Business App

Aug 1, 2022

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With an increase in smartphones and apps, we have witnessed a shift in the target audience towards mobile phones over the last few years. Today every business wants to capture mobile audience, and for this purpose, they are heavily investing in their business apps. Irrefutably, mobile app development costs a lot.

With a mind full of doubts, we do not recommend investing in app development. For this reason, at BainsLabs we would like to share some of the essential questions to ask before investing in a business app.

What is the core idea of your app?

If you don’t know what you are aiming at, then you won’t be able to explain what you want. Before hiring an app developer, you must have clarity about every aspect of your future app like

  • What is your app about?
  • Why is it useful?
  • Who is going to use it?
  • Why would anyone pay for the app?
  • How this app will make their life easier?

You must be able to answer these questions in less than 30 seconds. To do so, you need to summarize your app idea that encourages your target audience to love your app.

What technology you should opt for?

It is not about developing an app in any available technology. Generally, every mobile app development technology comes with its pros and cons. The selection of the technology for your business app depends upon the core requirements of your app. Whether you should go for a native app or hybrid, the best technical suggestions are possible only after knowing your app’s core requirements.

How will you monetize your app?

Monetization simply means returns. This return can be generated in many ways like building customer loyalty, offering added value, and obtaining more data through coupon or rewards systems. There are many ways to monetize an app. A technical team can help you find the best one. So, it is very important to figure out the sources of monetizing your business app before you invest in it.

What is your app delivery deadline?

The delivery date is equally important. You need to have a deadline by when your app must work as it is supposed to work. Not having a deadline will not only increase your troubles but costs, as well. It is important to define the deadline because, before launch, you need to test the waters. And, to do so, you must save some time for market and performance regarding tests.

What benefits will your app offer?

Be it iOS or Android, thousands of mobile apps are published daily. In such a competitive market, only the best one survives. If your app is a byproduct of thorough market and audience research, the survival chances will automatically increase. Make sure, your app has something different to offer.

What is your budget?

Budget clarity is a must. It is not a good idea to start a venture with an unclear budget in mind. For this reason, you must work on a business plan that will define your product’s milestones. Through these milestones, you will be able to track your app’s development process and budget.

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    What is your working captial?

    Once you know your budget, the next question that you should have an answer to is – what is your working capital? As we discussed earlier, app development is a costly process, and setbacks are expected. However, with a proper budget in mind and sufficient working capital in the bank account, you can save your app development from getting paralyzed.

    How are you going to get downloads?

    Once business app development is done, the next challenge is – how would you get downloads Ask yourself a question – how your app will get downloads? Because, if no one is downloading your app, regardless of the quality, your app will sink.

    Do you know your competition?

    Survival becomes easier once you know who you are competing with, and what states you have to adopt. Practically, healthy competition not only inspires a business but also offers chances for growth hacking.

    What is your marketing plan?

    Fail to plan is planning to fail, they say. To launch an app without having a marketing plan in action means the first and final step toward app failure. As we have said before, thousands of apps come out every day to differentiate your app from others, you need to have a strategy. This strategy will get you visibility among your audience.

    What are the pain points of your target audience?

    Generally, any digital solution is built to solve end-users problems. The same goes for mobile apps. You must understand the pain points, interests, tastes, preferences, and dislikings of your target audience. To do this, you need to work on their buyer persona.

    How do you plan to scale your app?

    As a digital business, you must automate some of the operations. And, if you are investing in an app, it is better to check what functions one can put on the automatic mode through that app. Accordingly, one should have a plan to scale the app.

    What will the launch be like?

    Once everything is done, and you are ready to launch, the question that you should have an answer to is – where to launch your app other than regular app stores? Whether or not you need to partner with other websites or social media platforms for the launch. What kind of website will your app have? What will the presentation be like? Answers to these questions will make your life easier.

    Being a mobile app development and digital marketing company in Toronto, our mobile application developers and digital marketers are helping startups, SMEs, and enterprises. If you are looking for expert advice regarding your mobile app development project or digital marketing, feel free to contact us.