Come 2020 and the mobile industry will grow to reach 189$ billion and with the time that the world is now spending on devices, going mobile is not really an option anymore. For a business to survive, it will have to tap the app market to its full advantage. The market has established itself as the symbol of a business growth and success.
Now even after making itself a requisite for bringing a brand to every fingertip, globally, there are some businesses that still doubt its worth falling to the myths that have been created over time. So let’s talk about the elephant in the room once and for all. Here are five myths surrounding the mobile app market and how to steer clear of them for the sake of your business growth.
Users are not installing apps anymore
There have been talks that because of the low mobile space or simply a lack of newness, users are not installing apps anymore.
In 2016, the number of app downloads globally crossed 90 billion all across Google Play and iOS. The stats presents a 15 percent annual growth, which makes up to a yearly increase of more than 13 billion. In U.S. alone people installed 12 billion apps previous year, which was roughly six per month, according to the App Annie data. And it is only back of this data, that the world is seeing a rise in successful app development companies, worldwide.
So businesses that fall for this myth will only lose in to the competitors and will taint their brand.
App store is only for Big Players
Some think that only big publishers like Facebook, Rovio, and Whatsapp can survive in the concentrated app market, small players don’t hold a chance.
A quick glance of any of the app store will show you how there are so many new entrants in all the fields – from banking to games and fitness to AR. Who had heard about Pokemon Go prior to the last year? Or the Super Mario app? Nobody. But we all witnessed how they changed how we interacted with our devices to an altogether different level.
Truth is, as long as your app is offering something new to the world or is answering to an untapped market, it will be in demand.
The more your app is downloaded the more successful it is
It is believed by many that what makes and app successful is the number of downloads or installs it has.
While it is true that there was a time when the success of an app was measured by the number of downloads it got but today the focus has shifted 180 degrees from the number of downloaders to the percent of engagement happening on the app.
Today what matters is your retention rate, bounce rate, and how satisfied your users are with the service they are getting.
Apps will be replaced by Bots
Every second report around the world is suggesting how chat bots are the next big thing in mobile.
While it is true that chat bots are the next big upcoming thing in the mobile world but it is definitely not something that would replace apps on users’ devices. Chat bots will only come in the interaction process, everything before that – keeping users engaged, the visual experience, and all the factors that keep a user hooked will be handled by apps, alone.
Having an app is a want not a need
People belonging to old school of thought believe that having an app is not a need, a business can grow perfectly even without it.
This myth couldn’t be farther away from the truth. For a business to grow to its highest capability, in today’s competitive market, it will have to reach its users, wherever they are. And mobile is the one market that is same, globally.
So the second a business gets on mobile, it opens its horizon to cover more market space and meet a greater customer base.
With the market getting mature every passing second, businesses of all sorts can get the perks of a carefully-designed app. Nevertheless, by paying attention to these misconceptions, many of us are letting go of the opportunity to bring themselves at world’s fingertips. Equipped with these truths, any business — from entertainment to logistics – can be prepared for a very long-term growth.
Author Bio: Currently writing for ChromeInfotech, India’s leading iPhone App Development Company, Tripti has written on relationships, career, and real estate in her past. But now she is focusing on decoding the mobile world with Ed Sheeran playing on a record in the background.