used HDFC Bank’s mobile banking app for the money transfer? The Domino’s Pizza app to order your pizza? The Weight Watcher app to track your calories? Flip Kart mobile app to shop? Or play Candy Crush app for some entertainment? Yes. Reality pinch. There is a program for each activity. May it be for fitness, travel, shopping, entertainment and workshops -. Mobile apps are now part of our life is very prominent
The mobile app market is rapidly evolving. In June 2014 there were more than 140 billion mobile apps downloaded. And according to Business Today’s downloads in India alone is expected to grow from 01:56 billion in 2012 9 billion in 2015. The statistics reestablish how the parallel market place there is also growing at an aggressive rate. And companies that are present on this board will manage to gain market share.
What is driving this growth?
Nielsen Report reveals damage smartphone owners aged 25-44 spend most apps per month (average of 29 apps), while 18-24 year olds now spend time on the theme (37 hours 6 minutes). What is driving growth in this market is the convenience Brought to the end user. While websites are information-oriented apps are task-oriented and the entire process is fast, easy and economical. And the ability to set used anywhere, anytime leads to great efficiency in the process. Thus, more than 85% of users prefer mobile apps to mobile site can lock Compuware. In fact, as per the report from MarketingCharts, 2014 Time Spent on Mobile Apps rose by 43.7% against a decline of 3.5% compared to the time on the websites.
What does this mean for businesses?
The mobile application is the new touch-points for their businesses to connect with customers. It gives value to existing customers, robes in new customers, and the company increases loyalty and sales. For example, Food Panda online food delivery in the global market. Operating in more than 40 countries ITS service allows users to select food from local restaurants and place orders via its website or mobile application. In India, this app has been downloaded over 300,000 times and contributes to 20% of sales.
As of July 2014, there are over two million mobile apps are available for either free or paid. In the first download is free but there are in-app purchases, while in the latter there is a small fee to download the app. Majority of the available apps are free with downloads reached 127 billion downloads in 2014, while there are over 11 billion downloaded paid app. The higher revenue from free apps as well. Apple claims hurt ITS 71% of revenue comes from free apps are expected to surpass $ 14 billion in 2015. However, it should be noted that 10 of the top revenue-generating apps from the Apple App Store or Google Play Store in Q1 2014, nine games.
Nevertheless, in mobile apps bring Enormous business opportunities for organizations. It is a direct marketing channel, where they are able to capture mindshare by the customer. MakeMyTrip app recently crossed the 4 million downloads in October 2014 and its constant in the mobile app campaigns RESULTAN-increase of the flights on the app compared with 49% to 43% on the net.
Companies are bottom able to build Increase brand and customer engagement. ASDA use of recipe favorites and advice are remarkable. While preferred listings on the app is useful and generate brand affinity by offering a more personalized shopping experience, ASDA It also allows for pushing repeat purchases. Its use of the lower recipe council double edged: it gives advice to consumers, thereby improving the brand experience
Mobile apps are undoubtedly boost sales .. But even his keep users up-to-date with its products and services. Zappos’ option uses push notifications to inform consumers of what products are in stock. As the customer requested product update, this second stage boost to sales is seen as a service and a gentle reminder, rather than as a vector on direct appeal in response to action.
More over, there are companies based on mobile platforms. Uber is also one of the fastest growing global companies in India. It’s an app-based transport network company operating in more than 200 cities. The company uses a smartphone to receive Ride requests and then sends requests for Their triplet These drivers. Customers use the app to ask for rides and track reserved for their vehicle’s location.
Thus, the increase in the app should come as no surprise culture. Mobile apps are here, and will increasingly become a critical component of the marketing plan for companies as customers seek convenience, ease and instant results on the go. By 2017, Gartner projects that will hurt mobile app downloads 268 billion a year, equivalent to $ 77billion in revenue. HENCO apps will soon, if not already, influence our lives to a great extent. And companies that are fore runners will surelyn gain competitive advantage.