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How Mobile App Technology Can Recession Proof Your Business in 2023
With the global economy struggling to find its footing, we’re searching for smart ways to future-proof our businesses. But, with the cost of living sky high and quarterly targets pressing – it can be hard to find our way. This blog focuses on why investing in a mobile app is a smart brand and fiscal move for tough times.
Be Bold When Your Competitors are Scaling Back
At times of change, it’s our human instinct to scale back to survive. Whilst ‘cost saving’ makes sense, we must find ways to harness our entrepreneurial bold.
Whilst your competitors are ‘playing safe’ and weighing their futures, it’s time to step into the app light. The mobile app arena is no longer just for ‘big brands.’ Every year businesses, of all sizes, are stealing their moment to vie for app glory.
The android and iOS app stores are brimming with innovative options. Businesses like yours, are leveraging mobile apps to engage with consumers, build brand loyalty, and increase revenue.
Boost Your Business Brand With Mobile Tech
In volatile times, having a mobile app in your armory is a decision you won’t regret. According to Statista, the number of global app downloads has been soaring from 2016 onward – surpassing 200 billion in 2019.
In 2022, consumers downloaded 255 billion mobile apps to their devices, up by more than 80 percent from 140.7 billion app downloads in 2016.
This is a great time to add an app to your business growth plan. The power of mobile tech to compel consumers to buy is hard to ignore. Why fret on website bounce rates when you can create an app experience – that engages 24/7.
With 50% of international web traffic coming via mobile, it’s time to get serious. If you’re looking for a lower risk step, you can test your concept with a minimum viable product (MVP).
How Mobile can Help Expand Your Business
Whether you’re in e-commerce, retail, health or another business field, an app has the power to expand your revenue potential.
By integrating the right e-commerce payment gateway you have the power to receive mobile card payments for goods and services via your app. Ease of purchase = increase in sales.
With a consumer trend for buying ‘on the go’ your gateway in e-commerce has the power to boost your fiscal health and brand reputation.
But your ‘gateway’ goes further than payment processing. A smooth customer experience, at the checkout, is your superpower to repeat custom and future proofing your business.
Here are the 5 major ways a mobile app can help expand your business.
1. Reach More Customers
One of the main benefits of mobile app technology is the ability to reach a wider audience. With a mobile app, you can make your business accessible to anyone with a smartphone or tablet, which is a significant portion of the population.
This means you can potentially reach millions of customers who may not have known about your business otherwise. By expanding your customer base, you can increase your revenue and build a stronger brand.
2. Streamline Operations
Mobile app technology can also help streamline your business operations, which can save you time and money. With a mobile app, you can automate tasks, such as order processing and inventory management, which can reduce the need for manual labor. Additionally, mobile apps can help you track and analyze customer data, allowing you to make informed decisions about your business.
By streamlining your operations, you can reduce your costs and increase your efficiency, which can help you weather financial challenges.
3. Enhance Customer Experience
Another advantage of mobile app technology is the ability to enhance the customer experience. With a mobile app, you can provide customers with personalized recommendations and promotions based on their preferences and behaviors. Additionally, mobile apps can offer a range of features, such as mobile payments and appointment scheduling, that can make it easier for customers to interact with your business.
By providing a superior customer experience, you can build customer loyalty and attract new customers, even during challenging economic times.
4. Diversify Revenue Streams
Mobile app technology can also help you diversify your revenue streams, which can help you stay afloat during difficult times. For example, you can offer in-app purchases or subscription services to generate additional revenue. Additionally, you can use your mobile app to sell merchandise or offer virtual events or classes.
By diversifying your revenue streams, you can reduce your reliance on a single source of income, which can help you weather financial challenges.
5. Improve Marketing and Branding
Finally, mobile app technology can help you improve your marketing and branding efforts. With a mobile app, you can create targeted marketing campaigns and promotions that are tailored to your audience.
Additionally, mobile apps can help you build a stronger brand by providing a platform for customer reviews and ratings. By improving your marketing and branding, you can increase your visibility and attract new customers, even during a recession.
Get App Smart and Future Ready with Heveloon
Here at Heveloon, as a top UK app developer, we’re the mobile app guides you need by your side. We bring a human, friendly face to your mobile app development experience.
Together – we take your app idea from concept to launch. Now is the time to innovate to transform your business future with a bespoke mobile app that helps you get ahead, whatever the economic weather.
Heveloon
Content Writer
