How mobile app technology is providing utility to boost business ROI

With the rapidly evolving world, it has become a matter of paramount importance for businesses to keep in alignment with the evolution. From artificial intelligence to data analytics, the business sector has by now experienced a plethora of changes. It is true for almost all businesses that whatever you do, it shows up in the form of revenue and sales. 

In any case, there is nothing wrong with trying to expand the business and make more money. All entrepreneurs make efforts in their own way to maximise profits, be it the CEO of Apple Inc or some local vendor selling spare parts for smartphones. Enterprises explore new ways to increase profit and control costs. One way to accomplish this is through mobile app technology which is available both in customised and non-customised forms. 

Mobile app technology facilitates internal management as well as outward expansion of the business. The worldwide explosion in the use of mobile apps has led the majority of firms to direct their focus on mobile apps over the past decade. Statista anticipates that the global income for mobile apps will increase by a staggering $295 billion between 2020 to 2025. From promoting their brand to getting to increasing market visibility to knowing customers better, businesses can derive almost endless value by using mobile app technology. 

How mobile application technology gives a boost to your business

The dream of every young entrepreneur and startup is to get worldwide recognition for their brand. Conventional methods of success adopted by most entrepreneurs are very time taking. Whereas, mobile app technology, one of the modern business tools, helps in accomplishing the same work with less effort and time. Success in digital media now depends on smartphones. Their use has profoundly altered marketplaces, operating patterns, and business strategies at a startling rate. Their use has profoundly altered marketplaces, operating patterns, and business strategies at a startling rate. It is so because smartphones are now an integral part of customers’ everyday lives. Entrepreneurs can, therefore, readily use this channel to position themselves more favourably in the market.

By streamlining business management

Productivity is one of the most important aspects of mobile app technology that helps businesses to increase their ROI. Productivity is increased through timely completion of the work. There are robust and dependable applications for voice calls, one-on-one calls, conference calls with multiple users and chat sessions that facilitate management from anywhere. The work-optimising mobile apps assist in scheduling meetings, sharing attachments such as documents, spreadsheets, presentations, and images, or creating notes for reminders to manage your work seamlessly. The apps also provide real-time updates that facilitate remote management of employees. 

Use of mobile apps functions as a complete enterprise solution. Some businesses use it to engage with potential customers, while others use it to converse with existing clients. It helps in increasing efficiency levels and fosters swift connections within and outside of the company. Since it is easier to work on smartphones they help in boosting worker productivity and also reduce paperwork. Inventory management and employee tracking can also be done using a mobile app.

For instance, for a logistics company, a mobile application technology can help it track the whereabouts of its lorries, pick-ups, and drops and integrate invoicing and payables with the accounting software of its choice. For other companies, mobile applications prove to help track tasks and communicate internally among the team members.  

By strengthening market value and customer base

The customised business app helps in expanding brand awareness and social media presence sans effort. It demonstrates that business is capable of adapting to the market trends and helps the businesses to optimise resources by determining the needs of their customers.

With mobile apps, you can offer your customers unique features right from their phones. Furthermore, it can provide your team with a new challenge to continuously improve the app for your users. It enhances customer interactions and fosters brand loyalty. They provide non-stop access to customers, unlike physical stores that are open for a limited time. Brands like Amazon, Myntra, and Nyka have experienced unparalleled success, owing to their user-friendly mobile applications, which facilitate customers with seamless online experiences. Customer insights from apps can help to assess potential future growth and strategize accordingly to increase ROI.

By reducing costs and increasing revenue

As a long-term cost optimization strategy employee productivity can be increased by raising engagement, enhancing communication, reducing busy work, and streamlining data through the use of mobile apps. Additionally, by using adverts that are specifically targeted toward in-app transactions, businesses may make a profit using apps.

Conclusion

These are only some limited insights as to how mobile app technology helps businesses to increase return on their investments. Mobile apps have revolutionised businesses all over the world. Entrepreneurs use these apps to boost their ROI in multiple ways, beyond delivering products and services to their customers. The popular 5G technology and immersive experience of AR and VR will further encourage businesses to adopt these solutions to remain relevant in the digital market. 

The article has been written by Navin Mishra- Director- Emerging Market, Corient Business Solutions Pvt Ltd