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Category: Web & Mobile Application Development

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Fitness App Development: Features, Trends and Costs

Everyone’s top priorities have always included health and fitness. Back in the day, however, staying fit and on-trend was more difficult due to the difficulty of finding fitness coaches who you would enjoy working with. Fortunately, since the dawn of the digital era, the fitness industry has undergone a full digital transformation makeover as well. Since then, health and fitness app development have marked a variety of approaches, from cultivating healthy diets to weight loss exercises with only one tap on their smartphones.

Follow us and uou’ll learn about the latest features and get a step-by-step guide to creating a fitness app. You’ll also get an estimate for the cost of developing a fitness app. But first and foremost, let’s talk about the basics.

1. Fitness App Industry & Casestudies

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1.1. Fitness App Industry & Market: Why Would You Make A Fitness App?

The fitness app market is expected to reach $14.7 billion by 2026, according to a study published by Market Watch in January 2019. The market is expected to expand at a CAGR of 23 percent over the forecast period. According to a Statista report, the Fitness segment’s revenue reached $17,963 million in 2020, and it has continued to expand rapidly.

As a result, revenue is expected to increase at a CAGR of 5.0 percent from 2019 to 2023, resulting in a market volume of $20,499 million by 2023. As a result, the fitness application market grows and is expected to expand as new health and fitness features emerge.

Also, from Statista, health and fitness apps were downloaded globally 593 million times in the first quarter of 2020. Health and fitness apps are expected to produce 656 million downloads by the end of the second quarter of 2020. Health and fitness apps were only downloaded 446 million times in the same quarter last year.

The global coronavirus pandemic, which has caused consumers to stay at home and restructure their exercise regimen and general lifestyle practices, is primarily to blame for this rise.

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1.2. Fitness App Types & Casestudies

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Fitness App Example

Each type of fitness app has a notable casestudy that we would like to show you:

  • In 2020, Fitbit led the activity tracking category in terms of new installs (4.8 million) and average daily active users (1.5 million).
  • Since September 2020, MyFitnessPal has been the revenue leader among nutrition and diet apps, bringing in over $1.44 million.

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2. Fitness App Development: Key Features

Are you unsure what features to include in your exercise app? Each fitness app development serves a different purpose and provides its users with special features. However, there are some basic features that a fitness app must have in order to be more user-friendly and accommodating. We’ve put together a list of fitness apps’ must-have features.

2.1. Onboarding

When you need to explain app features or give instructions to new users, onboarding really comes in handy. (If your app is straightforward, you can skip this step.) When users interact with your app, you can provide onboarding by showing two to eight screens, adding a 60- to 90-second video tutorial, or sending in-app prompts. On Dribbble, you can see examples of onboarding.

2.2. Sign-up & Login

Allow users to sign up using their Facebook, Google, Twitter, Instagram accounts or other social media accounts that suit your target audience, as well as their own personal email addresses.

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2.3. User profiles

Users enter personal information such as their name, age, height, weight, gender, and fitness level when creating a profile. Both app developers and users will benefit from this information. It assists app developers in creating apps that match users with customized workout routines and track their sporting activity. A user’s profile gives them easy access to subscription plans, as well as a history of completed exercises, progress, bonuses, and other information.

2.4. Goals

Setting goals is an important aspect of any fitness app. Allowing users to set objectives and goals is motivating because it translates into a goal tracker that will help them achieve their fitness goals without fail.

2.5. Synchronization with wearable devices

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Smart watches have became increasingly popular for the past few years

Which the rise of smart watch and other wearable devices like Apple, Samsung and Xiaomi, your Fitness App should ultimately be able to connect and synchronize with them. To combine data from fitness trackers and your fitness app, you can use the HealthKit and GoogleFit APIs. Apple Watch and Android smartwatches can be synced using the watchOS and Wear OS operating systems.

2.6. Workouts & exercises

Photos, 3D animated models, and video illustrations can all be used to illustrate exercises and workouts. Allow users to make their own workouts, use a standard set of exercises, or combine the two. You’ll need an organized and searchable content library for this.

2.7. Activity tracking

Your app can obtain activity tracking data in one of two ways: from smartphone sensors or by integrating with any wearable tracker. Smartphones allow your app to show the number of steps taken, the number of stairs climbed, the distance traveled, the speed, and the direction traveled – a noteworthy app can be mentioned here is Samsung Health. To sync with fitness wearables and measure other parameters like heart rate, sleep quality, or body temperature, you’ll need to add third-party APIs. You should also inquire about the parameters that users want to track.

2.8. Audio/video player

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Kokkiri | Meditation App | Created By Savvycom

Exercises, workouts, running, yoga classes, meditation — audio/video podcasts with a trainer’s voice, a soundtrack, or a video tutorial can guide you through a variety of fitness activities. Users should be able to leave feedback, bookmark/favorite/like tracks, and return to them later in your fitness app player.

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2.9. Product & recipe database

Access to a large database of products and healthy recipes, analysis of nutrition values, and data on ingredients received through a barcode scanner are some of the most compelling features of nutrition apps. Nutrition APIs are required to provide this functionality to users. Allow users to manually add goods to your app that they don’t see.

2.10. Workouts customization

Within your app, users can make their own workouts, meditations, exercise sets, recipes, or diet plans using a customization feature. This feature on paper might take a lot of work but in a user-centric world, your customer should be put in top priority.

2.11. Push notifications & reminders

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Push notification is probably the most important feature to have in any app

The right text delivered at the right time will boost an app’s retention rate by three to tenfold. Push notifications for fitness apps should contain no more than 90 characters and be sent between 7 a.m. and 8 a.m. or 12 a.m. and 2 p.m., according to Business of Apps. If your app allows users to customize the timing of reminders and push notifications or in some cases to turn off notifications completely, that’s a plus.

2.12. Recommendations

Machine learning algorithms can be used to provide personalized recommendations based on a user’s preferences and/or viewing history. Artificial intelligence (AI) enables an app to build customized fitness programs with dietary plans, and it has a good chance of outperforming any human personal trainer when it comes to accurately adjusting personal workouts.

2.13. Profile Settings

Users can change their passwords and emails, alter their notification settings, and deactivate their accounts using this feature.

2.14. Support & Customer Services

Users will appreciate a chat feature in a workout app where trainers provide real-time advice or consultations. If your app doesn’t have live chat options, consider combining a chatbot with pre-programmed responses. Nevertheless your app should include contact information that users can have access to at anytime, it not only increase your trust but also help at gathering much needed feedbacks.

2.15. Payment feature & method

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A secure payment method greatly increase trust

The need for a payment feature is actually self-explainatory. How can you make money from your app if you don’t have it? Integrate a payment gateway into your app, such as PayPal, Visa, etc.

3. Choose The Monetization Model For Your Fitness App

Of course, you must ensure that the fitness application you are creating can provide you with positive results. You can monetize your app in a variety of ways. You should include the following in your fitness app to generate profit or income:

  1. Paid Apps – Users must first purchase your fitness app in order to benefit from it. Offering a free trial is one strategy you can use, and if they know the value of your app, there’s a good chance they’ll pay for it or subscribe to keep using it.
  2. In-app Purchases – If you want to create a free fitness app for users, you can still make money by encouraging them to buy something in the app, such as an advanced feature setting or premium content that they can only get if they buy the feature.
  3. Advertisements – Other fitness companies may be interested in partnering with you and running advertising campaigns in your app, which you can charge a cost-per-mile commission for.
  4. Free Apps – It’s a freemium model. Your users can use the basic features of your app for free, but you can charge for the premium features. A premium subscription model is another name for this type of business model. Basic features are free, but advanced fitness plans or personal coaching services are not.

Fitness App Monetization | Savvycom
The paid subscription model is, according to Statista, the most useful and profitable monetization model. However, you are free to make your decision based on your company’s objectives and app. In any case, during the discovery phase of development, you can choose a business model for your app.

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4. How Much Does It Cost To Make A Fitness App?

An outsourcing fitness app development company will only give you a rough estimate of your workout app development cost based on their previous experience with similar projects at first. After you’ve gone through the concept validation and UX strategy stages of development, they’ll be able to give you an accurate estimation. Regardless, here at Savvycom we’ll talk about the price.
Your minimum app development team for a fitness app should include:

  • QA engineer
  • Project manager
  • UI/UX designer
  • iOS developer
  • Android developer
  • Backend developer

So, how much does it cost to make a fitness app? Fitness App Development cost on average is $63,770, based on a $35 hourly rate and 1822 hours of work. But that is just for MVP (Minium-viable-product), contact us to get your free consultation now!

5. Fitness App Development Stages

Stages of Fitness App Development | Savvycom

5.1. Discovery

At this point, your mobile app development team performs preliminary market research to determine whether or not your fitness app idea is marketable, and if so, what can be done to make it so. You’ll brainstorm with a product manager, designer, and project manager to:

  • Make a vision for your app that includes challenges, solutions, requirements, rivals, acquisition channels, your app’s unique value proposition, and revenue sources.
  • Consider the logic behind your fitness app.
  • Make a list of epics based on the main functionality of your app.
  • Make a drawing of your prospective customers.
  • Create a table with epics and potential user stories.
  • Make an idea for your fitness app’s navigation.

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5.2. Idea validation

Validation of an idea You analyze problems that your app will be able to solve during the discovery stage. You should check the solutions your app can provide during the idea validation stage. A product/project manager, UI/UX designer, iOS and/or Android developer, backend developer, and quality assurance engineer are all required to accomplish this.

5.3. UX strategy

At this point, your development team is working on a comprehensive app interface and screen relationships. You’ll need to recruit the entire app development team for the UX strategy stage to:

  • Create a data structure and interconnections in an information diagram.
  • Make a high-fidelity app prototype with an interactive interface that shows where all of your app’s control elements are.
  • Make a rough project plan with assignments and deadlines.
  • In terms of details and functionality, a high-fidelity prototype is the closest match to the final design.

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5.4. Design and development

Your app development backlog is split into sprints during the design and development period, which are typically two weeks long. A project manager’s job is to prioritize tasks, track their progress, and keep track of the backlog.

  • The style guide is approved for use in any part of your project during the design concept sprint.
  • The team describes the design of functionality, refines documents, and sets up the technical environment for the next sprint during the technical setup sprint.
  • The app is developed during a development sprint, and a project manager plans the next sprint and creates documentation.

5.5. Testing and improvement

This stage also necessitates the participation of the entire app development team. When you get a fully functional fitness app, the testing and improvement stage ends, but it resumes if you decide to make a change.

  • KPIs for mobile apps are being tracked.
  • Taking input from users and analyzing it
  • Identifying the faults in an app
  • Fixing flaws
  • Enhancing the app’s functionality

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6. Final Words on Fitness App Development

Remember the following when developing a fitness app:

  • To keep attracting and retaining users, provide the best fitness app features.
  • In terms of exercise variation, tips, and techniques, workout apps must be adaptable.
  • Integrate wearable fitness devices and cooperate with their manufacturers for improved fitness results, not to mention the cost-effectiveness of this method.

Fitness app development, like any other type of app development, can be difficult. It is, nonetheless, effective and worthwhile if you ensure that the fitness app of your choice includes the best features that will be of value to users in the long run. To do so, make sure you can provide people with customized workout plans that are tailored to their specific needs. It’s more likely that your fitness app will stand out and succeed if you have the sincere intention of assisting users in achieving their fitness goals through various features.

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Basic steps to create a successful workout or fitness app:

  1. Explore the fitness apps market
  2. Choose the fitness app type you need 
  3. Pick the monetization model
  4. Hire a team of professionals. i.e. "Savvycom"
  5. Communication between all parties
  6. Define fitness app key features
  7. Technical documentation and design
  8. Application development
  9. Quality assurance
  10.  Marketing and further updates as well as improvements

Choosing the right software development company is a crucial factor in project success.

There are different ways of monetizing your app. To get profit or income from the fitness app, you can include:

  • Paid Apps
  • In-app Purchases
  • Advertisements
  • Free Apps

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Mobile Banking Application Development: Features & Cost

Financial technology solutions have greatly simplified our lives in many aspects. About a decade ago, you would have to go to a bank branch and wait in the queue to make basic transactions like paying bills, transferring money, or depositing your funds. Complex deals like investing money or signing insurance contracts would usually take weeks or months. Compared to Internet banking, Mobile Banking Application Development is a far more convenient and user-centric.

Nowadays, with just a tap of your finger in mobile banking software, you can make your life a lot easier. In this article, we will guide you through Mobile Banking Application Development. Everything that you need to know before starting your project in a Mobile Banking App.

1. What Is A Banking App?

A banking app is a mobile app where you can access your bank account’s details and complete transactions directly from your phone, tablet, or mobile device. Based on the bank you’re accessing, you’ll be able to complete a variety of actions via your banking app.

Most banking apps allow you to view your current balance and transaction history; deposit checks up to a specific dollar value. Another thing you can do is to initiate transfers to other bank accounts, schedule payments or pay your bills, send person-to-person payments, and locate ATMs that are free for you to use.

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2. Why You Should Build A Mobile Banking App?

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Number of smartphone users worldwide from 2016 to 2021 (in billions)

Imagine that almost one-third (32%) of the global population utilizes mobile banking software. Mobile Banking App is something that you cannot miss on your phone and here are the reason why:

  • The share of mobile traffic is going to grow up to 63.4% in 2019, which indicates even a greater shift from desktops to smartphones usage. – Statista
  • 36% of respondents consider mobile banking as the most favourite activity, which means every third person with a smartphone in their hands is verifying deposit or transferring funds – Statisa
  • The Millennials tend to use mobile apps more frequently than other generations. If your services are geared towards the younger generation, you should take notice.
  • 33% of respondents admit that mobile experience is the key reason why they stay with a current bank.

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3. Benefits & Advantages of Mobile Banking Application Development

A mobile banking app is a free but essential tool that can be used by clients at their convenience. Besides that, investing in mobile banking application development gives a significant advantage in cost reduction for banking institutions. This is a win-win situation for both sides of the process. Let’s review all the benefits in detail.

The benefits of developing a mobile banking application are as follows

  • Availability 24×7 – Clients can perform their usual banking operations anytime and anywhere compared with traditional banks and ATMs.
  • Variety Of Services & Functions – Top banking apps allow users to carry out almost all banking operations. Among these actions are loan tackings, payroll services, mobile check deposits, savings, etc.
  • Less Time Consuming – Clients do not have time to visit a bank and wait in line to cash checks or for consultation.
  • Paperless Record Keeping – By utilizing mobile banking development wisely, a financial institution can communicate with its clients and cover legal issues digitally. On the one hand, this reduces bureaucracy, and on the other hand, clients do not have to disclose their sensitive information on paper.
  • Reduction In Customer Service Costs – Mobile banking technology reduces the cost of customer services by 50-70%, according to McKinsey research.
  • Increased Security – Top banks value their reputation and thus want to ensure that their IT infrastructure and client software use encryption and security protocols to protect customer privacy and information integrity.
  • Personalized User Control – Clients can keep track of their expenditures and manage their finances more efficiently.

Mobile Banking Application Development provides valuable advantages for both the bank and the client.

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4. Mobile Banking Development Trends

To get the best outcome from mobile banking application development, let’s examine the current market tendencies, what customers demand from banking software.

4.1. Mobile Banking Trends

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Reasons for using mobile banking apps in the United States in 2018

Below are the key findings of various studies about mobile banking development that are useful to pay attention to:

  • Statista reports that in the US, 48% of respondents aged 18-24 use mobile bankings apps at least once a week while 24% of people in their thirties do it a few times a month.
  • 1.75 billion users will conduct banking operations via their mobile devices in 2019 – Jupiter
  • The value of mobile payment transactions reached $78.09B in the USA in 2018. This sum is expected to increase to $189.97B by 2021 – Statista
  • The leading global banks have invested almost $80M in, and have launched 606, mobile banking applications – Exicon
  • The most common reason to use a mobile banking app in the United States in 2019 was to view an account balance. – Statista

4.2. Target Audience of Mobile Banking Development

Nowadays, smartphones have become more accessible in almost every part of the world, thanks to low-cost budget phone series even from the most popular vendor like Apple with their iPhone XR or Samsung with their Samsung Galaxy A Series. These markets have started to invest heavily in mobile banking development.

The markets in Asia and Africa have had a boost of 50% among the inhabitants who utilize banking applications. The McKinsey mentioned above study notes that even impoverished people in the Philippines showed a surprisingly high interest in mobile banking technology.

These days, the highest growth in acceptance of modern banking can be observed in emerging markets, namely:

  • Southeast Asia – The number of users of digital banking has doubled over the past three years here. Countries like Malaysia, Singapore, Cambodia, Laos, the Philippines, and Vietnam, and Indonesia will adopt more mobile banking services in the nearest future.
  • Latin America – The market has not yet exploited the advantages of mobile banking. Banks have only just begun to digitize their services. The number of banking apps users is predicted to account for 47% of the population in 2019.
  • Eastern Europe – The most adoptive market of financial mobile applications currently, and this trend is still growing.

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There is often an assumption that the target audience of banking apps are tech-savvy millennials, but you might be surprised by the real result.

45% of Baby Boomers (People who were born from 1946 to 1964) between the ages of 50 and 60 actively use online smart banking apps. iPads and tablets are their second most used devices.

The younger generation is pretty demanding of technology and, at the same time, the most engaging group. In 2016, a poll conducted by MX Technology identified that 60% of users are prone to switch to another bank if a mobile banking service is inefficient.

So, what do users expect from mobile banking application development? According to a Federal Reserve Board report in 2016, the most common operations performed with apps for banking are as follows:

  • 94% of users check their account balance and recent transactions
  • 61% transfer money between bank accounts
  • 57% receive alerts from their banks
  • 48% deposit checks electronically with the help of a device’s camera
  • 48% use an app or banking website to pay their bills
  • 40% find the closest ATM or bank branch
  • 25% transfer money to another person’s account

All in all, by 2017, the number of clients engaging with apps for banking or online banking had increased from 27% to 46%. This means that the financial sector has undergone changes characterized by reducing human interactions like visiting a branch or contacting a call center. And with the recent development regarding Covid-19 and the global pandemic, people are more likely to stay at home instead of going to a local bank.

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4.3. Best Banking Apps of 2020

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Ally Mobile puts everyday banking and investing tasks at your fingertips.

So what is now considered a cutting-edge mobile banking application? Some apps let you track accounts from different financial institutions. Others offer built-in financial wellness and budgeting platforms. Some even turn your mobile device into a digital wallet.

It’s an exciting time in the world of mobile banking, and if mobile offerings are a deciding factor for you in choosing a bank, we’ve assembled this list of the best banking apps.

  1. Ally Bank: Best Online Mobile Banking App
  2. Capital One: Best Mobile Banking App in Customer Service
  3. Bank of America: Best Mobile Banking App for Security
  4. Simple: Best Mobile Banking App for Money Management
  5. Wells Fargo: Best Mobile Banking App for Monitoring Investments
  6. Chase: Best Mobile Banking App for Prepaid Cards
  7. Chime: Best Mobile Banking App User Experience
  8. Discover: Best Mobile Banking App for Rewards
  9. PNC Bank: Best Mobile Banking App for Cardless Purchases
  10.  Charles Schwab: Best Mobile Banking App for Managing Multiple Accounts

5. Functionalities for Mobile Banking Application Development

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Main Mobile Banking Features

For efficient mobile banking application development, most users (86%) are interested in two features – checking balances and exchanging funds between accounts.

5.1. Essential Features of Mobile Banking

The general features used in mobile banking development that are hard-to-avoid are as follows:

  • Account creation

It is imperative to build a secure and quick authorization process. Multi-factor authentication is a safe sign-in option but takes some time to fill in the necessary information.

Alternatively, biometric authentication using physical user metrics (appearance, voice, even gestures) is far quicker and even fun.

A MasterCard study indicates that users have become more willing to use personal biometrics as their passwords. The Wells Fargo app has a verification feature that scans the iris of their corporate customers.

  • Account management

This point may include a range of mobile banking features. Users can check their cards, bank accounts, review account balance and record history, etc.

It is even possible to implement some additional functionality. For instance, the ABN AMRO Bank in the Netherlands included a unique mobile banking feature for personalized account management.

This feature allows users to set a savings goal, create investment plans, and perform repeat payments.

  • Customer support

Being able to provide constant support is one of the core mobile banking features, as the client should be able to address a bank representative and ask questions 24/7. Alternatively, it is possible to advance and personalize the user experience by using Artificial Intelligence in a chatbot.

Learn More On: Fitness App Development: Features, Trends and Costs

  • ATM & bank branch locations

Mobile Banking Application Development should not skip this fundamental feature of mobile banking services. In order to improve the user experience, it is possible to apply VR technology. This is a unique feature of mobile banking implemented by RBC. It allowed the bank to increase the number of its app downloads tremendously.

  • Secure payments and transactions

P2P transactions, payments for services, and fund exchanges should be processed securely and conducted anytime and anywhere with the help of a banking app.

An alternative variant of this feature in mobile banking application development is using QR codes for goods and services payments. Scanning QR codes is a fast and easy way to conduct these operations inside the app. Only a few banks have offered this mobile banking feature to their clients.

  • Push notifications

Mobile banking application development should utilize reminders and alerts to increase customer engagement and app promotion. It is necessary to control this aspect and plan the communication strategy with your client in advance because most users would not appreciate receiving intrusive notifications.

5.2. Extra Mobile Banking Features

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Enhance your application with these features

The app features mentioned earlier create the core of mobile banking application development. To increase user traction and interest, you should be thinking about some innovative mobile banking features which might ultimately be the deciding factor of your app likes:

  • Spending trackers

Mobile banking development should focus on user needs, even if they are not explicit. This functionality can control personal budgets and set some goals for desired purchases. The system can create a customized dashboard based on user information, give necessary motivation, and inform users regarding progress.

Alternatively, users can set some scheduled payments and bills in advance not to miss an important transaction. This mobile banking feature is utilized in a significant way in the Simple App. The app is used to track spending habits, plan budgets, and save on each expense.

  • Cash back service

M-commerce sales increased to 300M in 2017, and the sum is expected to more than double in 2019. Therefore, with the cashback possibility, users are stimulated to use your bank account to pay for services and goods. This small feature or promotion can be an excellent foundation for your loyalty program. Soon, this mobile banking feature will be included in the majority of banking apps.

  • Personalized offers

It makes sense to create special offers, discounts, or coupons with a mobile banking app. The opportunity lies in partnering with restaurants, cafes, coffee houses, and so on for the provision of particular discounts or coupons. This feature stimulates sales and, at the same time, engages the user with your mobile banking software.

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  • Unique services

Mobile banking application development can include other non-traditional services. These services can consist of purchasing tickets, ordering a taxi, reserving a table, delivery, and more.

For example, a Polish bank (Zachodni WBK) reached out to new users with the functionality of paying for public transport, shopping, and taxi-hailing directly from its mobile app.

  • App for smartwatches

Smartwatches have begun to substitute smartphones in many operations. Why not consider developing a banking application for these wearables?

The Australian Bank of Melbourne was the first to create a banking app for smartwatches. The functionality included payments for services and goods, receiving notifications, balance checking, and finding ATMs.

  • Finance sharing feature

Visa research indicates that to attract Millenials, it makes sense to concentrate on mobile banking application development for budgeting. This mobile banking app may include sharing finances and splitting bills.

For instance, the app from Emirates NBD has a bill-splitting feature where each user has to include some sum and indicate the number of people participating in the operation via social networks.

Final recommendation: It is better to develop a couple of apps with distinct mobile banking features rather than complex software with lots of operations, details, and data. Try to ask your target users about their priorities in banking procedures and focus on providing a solution for them first.

6. Mobile Banking Application Development Processes

6.1. Conduct Research And Make A Plan

The preliminary stage is crucial and shouldn’t be skipped at any cost. The first task is to conduct market research. You need to identify your competitors, check alternative solutions on the market, and learn what is popular among the crowd. Without doing this, you may go in the wrong direction.

Once you’ve got the research results, continue with defining your target audience. Your application may be for corporate clients, families, individuals, or institutions. Knowing your clientele will help you find out their pain points, which are crucial for sketching an app toolkit.

In this step, you should make a detailed plan for mobile banking development, including expenditure projections that will become a foundation for your budget.

6.2. Create A Prototype

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A mobile app prototype demonstrates how a product will function

Every Application starts with an idea in your mind. To turn it into reality, you need to create a sketch or prototype explaining in general terms the structure and order of design elements, visuals, and content. You may start with low-fidelity wireframing to sketch a home screen, users’ accounts, personal dashboards, and the layout for a landing page.

As a rule, wireframes consist of boxes, lines, and texts made in the white and black color scheme. You can use an app wireframe to validate your concept and collect early feedback. Next, you can turn your wireframe into a hi-fi prototype that will include a graphic presentation of a product, layout, interface components, the color scheme, and micro-interactions.

Just like wireframes, use your app prototype to demonstrate its toolkit to your focus group, test functionality, and interface. You can add default texts, placeholders, and test data so that people can feel how your app works.

6.3. Make A Graphic Design

Be ready for hard work in this step as your app’s design is its business card that should be recognizable. There are tons of tips on how to make a perfect design for a mobile application. We have created a shortlist of essential recommendations. Check them below.

  • make sure that typography, icons, color palette, buttons, and forms of your solution match your corporate style and brand;
  • the navigation should reflect the logical architecture of your solution;
  • all the design elements – buttons, links, forms, icons – should be clear and comprehensive;
  • choose colors, images, video files that evoke certain emotions and feelings;
  • consider cultural differences if you’re going to operate globally;
  • adjust your app to iOS and Android standards to efficiently market it earlier on;
  • your app icon should be unique and make your solution stand out;
  • think about extra bells and whistles like sticker packs for messengers.

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6.4. Choose A Technology Stack

When choosing a technology stack for your Mobile Banking App, you should concentrate on four areas: front-end, back-end, cross-platform frameworks, and other prerequisites such as robustness and security. Make a checklist that would include the following criteria

  • project scope, complexity, and scalability;
  • the number of specialists and the level of their competence;
  • necessary tools and software;
  • outside solutions;
  • docs and specs.

There are different kinds of applications: native apps, hybrid solutions, cross-platform applications. Each has its pros and cons and unique features. Native apps are robust and demonstrate high performance. They’re ideal for an established business. Native apps allow specialists to use the native functionality of Android and iOS devices without utilizing third-party APIs.

Hybrid apps are developed using web technologies and can be built for different platforms thanks to a unified codebase. Based on HTML, CSS, and JavaScript, hybrid apps can function as progressive web apps.

6.5. Develop And Test

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The benefits of Mobile App Testing include optimizing in-app experiences, boosting core metrics, and experimenting with the existing mobile app features in production

The most efficient mobile banking app development path you can choose from is contacting an outsourced team. If your idea is brand-new and requires a custom approach, you can’t do it without external help.

The development process allows building a well-thought-out architecture, developing life-like user paths and journeys, creating a user-friendly interface that won’t have analogs, and choosing a technology stack that suits best. The most challenging part is to get a team together, as the quality of work will influence the overall outcome.

6.6. Market Your App And Get Feedback

The most popular app marketplaces – Google Play Market, AppStore, and Microsoft Store – have different requirements for applications you should follow to avoid rejection. In case you opt for an outsourcing team, you can be sure that your off-the-shelf product will adhere to these standards by default.

6.7. Improve And Update

The app launch is just the beginning. To get valuable feedback and learn what to improve and update, ask the mobile audience for feedback, contact app review sources, ask influencers and bloggers to test your product.

If you focus on Apple users, you may submit your application to Apple’s editorial team to get an expert review. Another good idea is to apply your app to Top Apps lists or mobile app awards.

Once you’ve got feedback, you can define the weak and vital aspects of your product and decide how to make it better.

7. Mobile Banking Application Development Cost

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Clutch’s study indicates that the cost of complex solutions, including mobile banking application development, ranges from $200,000 to $500,000

However, the cost of making an app depends on its processes and features. We will give you a rough estimation of how much it will take for you to build a mobile banking application.

You may wonder why banks are investing in mobile banking application development. This is the most efficient method of customer engagement, which definitely outweighs the traditional methods that still involve resellers, support staff, and agents. As well, mobile banking development acts as an effective communication point with the possibility to get up-to-date market insights and improve banking services.

7.1. Discovery

We conduct a thorough business analysis to determine how the app will work in detail, what users can do, and whether third-party services are required.

What you get: functional specification with user flows, diagrams, and wireframes.

Cost: USD 2,400 – 3,200.

7.2. UI/UX Design

Based on the user flows and features we determine during the discovery stage, we’ll come up with user experience design to make sure we’ve covered all the business requirements and user needs at the same time. Then we’ll produce a user interface design of the app that includes the visual representation.

What you get: high-fidelity prototypes ready for implementation, along with a style guide.

Cost: USD 16,800 – 24,800.

7.3. Web Development

Mobile apps require administration and it’s usually a web-based admin dashboard.

What you get: a user-friendly admin back-office with functionality to manage the mobile app.

Cost: USD 135,000 – 153,000.

Your Next Best Mobile Banking App Is Waiting!

Get in touch with Savvycom for a free consultation. We’ll help you decide on next steps, explain how the development process is organized, and provide you with a free project estimate.

7.4. Mobile Development

We develop an API to communicate with the server-based app developed in Phase 3.1 and put all things together: design, functionality, API.

What you get: a fully-working app ready to upload on Google Play Market or AppStore.

Cost: USD 45,000 – 64,000.

In general, mobile banking development and all mobile app development services can be split into two stages, Discovery and Development. The discovery stage includes all the preparatory work for the project performed by a business analyst, who is responsible for the development of your app from a business perspective, and a software architect, who aligns business aspects with technical implementation.

8. How to Create a Mobile Banking App Project Successfully

It is absolutely certain that the banking sector will only become more and more digital. Mobile banking application development allows the industry to increase efficiency in operations, reduce bureaucracy, and enhance customer experience while promoting banking services. So what makes a good banking application?

Applicable and user-friendly functionality that is secure and easy to access. These can include, but may not be limited to:

  • Checking the account balance without login
  • Integrations with device info and tools (e.g. address book)
  • User customization based on recent actions and regular transactions
  • Customizable offers
  • Creation of personalized and useful notifications

Application of advanced, innovative technologies like AI, Big Data, AR, VR, and Blockchain to enhance the user experience

Adding new functionality and scale software in accordance with upcoming mobile banking trends, namely:

  • Use of voice user interface (VUI) to increase customer engagement
  • Use of artificial intelligence and machine learning for self-service in banking industry
  • Use of advanced verification technology with biometrics to avoid data breaches

All this shows that mobile banking application development offers many opportunities to create a customer-centric experience in the banking sphere. This niche still has room for useful banking apps, so it is time to plan yours today.

Savvycom – Your Trusted Tech Partner

From Tech Consulting, End-to-End Product Development to IT Outsourcing Services! Since 2009, Savvycom has been harnessing the power of Digital Technologies that support business’ growth across the variety of industries. We can help you to build high-quality software solutions and products as well as deliver a wide range of related professional services.

Savvycom is right where you need. Contact us now for further consultation:

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The core features most banking apps share:

  • Account creation & account management
  • Payments and transactions
  • Bill payments
  • Push notifications
  • Personal manager/customer support

Nice-to-have features:

  • ATM & bank branch locations
  • Spending trackers
  • QR code scanner
  • Cashback service
  • Money converter
  • Apps for smartwatches

Teamwork makes the dream work! That's why having the right team with the suitable Technology Stack often results in an App that could last for a long time. But are you sure? You already have the right Tech Stack. Here are the tools and technologies we at Savvycom recommend for Mobile Banking App Development.

Native App Development

If you create a banking app solely for iOS or Android, you should opt for native app development. Regarding iOS-based mobile banking software solutions, the best technology includes Swift, XCode, and iOS SDK. If we're talking about Android-based mobile banking development, then Java, Kotlin, Android Studio, and SDK are the tools of choice.

Cross-platform App Development

Cross-platform app development is a winning approach that allows banking app developers to use a single code base for different operating systems. React Native, Flutter, and Xamarin will aid in building cross-platform apps.

Hybrid App Development

Hybrid mobile apps blend native mobile app development and web development. They are usually built using HTML5, CSS, JavaScript, etc.

  • Step 1: Conduct research and make plan
  • Step 2: Build and verify prototype
  • Step 3: Lay the groundwork for security
  • Step 4: UI/UX Design
  • Step 5: Choose Technology Stack
  • Step 6: App Coding
  • Step 7: Integrate with third-party solutions
  • Step 8: Release and maintain
  • Step 9: Market your app and get feedback
  • Step 10: Improve and update

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Location-Based App Development: Types, Features and Costs

With a compound annual growth rate of 28 percent (CAGR), the location based services market is expected to hit $80 billion by 2023. For entrepreneurs these days, the issue regarding location based app development makes a lot more of sense. Due to the growing popularity of on-demand economy services and fleet management, location based apps will almost certainly become a requirement, particularly during and after the global lockdown in 2020.

All of these applications, like Lyft, Facebook, Tinder, Airbnb, Food Delivery, Transportation Apps use geolocation. But what tools are used by location based users, and why are they used? What steps do you take to build a fantastic geolocation app?

We’ll go over everything in this guide, from geolocation technology to location based app development and the software stack that goes with it.

1. How does Location Based App work?

“A location-based service (LBS) is a general term denoting software services which utilize geographic data and information to provide services or information to users. LBS can be used in a variety of contexts, such as health, indoor object search, entertainment, work, personal life, etc. Commonly used examples of location based services include navigation software, social networking services, location-based advertising, and tracking systems. LBS can also include mobile commerce when taking the form of coupons or advertising directed at customers based on their current location. They include personalized weather services and even location-based games.” – Wikipedia

Nowadays, everybody has a smartphone, and location-based apps are a vital tool for locating someone, a spot, or a service nearby. Wi-Fi, cell tower data, and satellite/GPS are all used to send location information to these apps. Both smartphones come with built-in GPS, which can be enhanced using Wi-Fi or a mobile network.

You must use location services’ APIs and maps when creating location-based mobile apps. They also include information about items in their immediate vicinity, as well as relevant tips, useful facts, directions, and suggestions for a location or service.

Both the iOS and Android systems have their own location-based APIs and Google Maps is the best location-based software, as it runs well on Android, Windows Phone, and iPhone, showcasing flawless cross-platform capabilities.

1.1. The Use of Geolocation Services:

The spatial information about your device’s location is referred to as geolocation. It may be a smartphone running on iOS or Android, a fitness tracker, or something else with a GPS chip or a Wi-Fi connection (like IoT devices). This is due to the fact that location-based services do not often depend on GPS and other satellite systems.

For example, data about the position of cellular network stations (GSM, UMTS, and so on) or Wi-Fi access points may be used to determine the location of a mobile device.

  • Location trackers (Waze, Glympse, Google Maps)
  • Social networks, messengers (Facebook, WhatsApp)
  • Dating apps (Tinder, OkCupid)
  • Fitness apps with GPS route tracking (Nike Running Club, MyFitnessPal)
  • On-demand delivery apps (Uber, UberEats, Zomato)
  • Travel apps (Expedia, TripAdvisor, Booking)
  • Weather apps (Accuweather)
  • Photo location finder apps (Google Photos, Explorest)

1.2. Key Features of Location-Based services apps:

  • Users mark themselves and share their position with others (like sharing your location in WhatsApp / Facebook Messenger)
  • Apps calculate the distance between objects (for example, Google Maps pinpoints your position and displays the nearest point-of-interest that you search).
  • In-app maps create the most efficient routes from one location to another (Uber/Grab/Google Maps shows the fastest ways to the destination)

2. Location-Based App Market Trends

Let’s start with a question: why do people use location-based apps in the first place? According to a Statista survey, 65 percent said it was for weather services when asked. Networking (38 percent), news (16 percent), and photo and video services were among the other groups where geolocation functions were used (18 percent). It’s no surprise that using GPS data gives developers an advantage when it comes to creating a customized user experience in any niche or industry.

This is why advertisers are so interested in geolocation technologies. According to Statista, 67 percent of marketing professionals in the United States use GPS data for targeting, and 52 percent use it to personalize consumer interactions.

The demand for location-aware apps has grown due to the numerous opportunities for targeted advertising and personalization. These apps keep track of their users’ whereabouts and display relevant content based on that information. Weather apps that include forecasts based on a user’s position, restaurant apps, shopping apps, and so on are examples.

3. Benefits of Developing Location-Based Applications

In general, location-based apps have many benefits, ranging from data collection and analysis to the development of new user experiences. Once developed, location-based software can help with one or more of the following:

3.1. Source of Information

Users can get information about their location, nearby items, or the best route to a destination using a GPS-enabled app. The Fastmall app, for example, provides shoppers with an interactive map that includes shops, bathrooms, restaurants, and parking spaces. With only a few clicks, the location service can also help users locate a baby stroller.

3.2. Social Interaction Component

Mates, family members, and other users can use GPS apps to see where they can communicate with each other. This can also be used to help narrow down groups of social media users, such as veterans, who are looking for work or want to connect with other veterans in their area. Hire a Hero is an excellent example of this feature.

3.3. General Communication

Users can pin a position on a map or leave feedback about a business and share it with others using GPS location apps. They also allow you to geotag your images and videos. If you’re considering how to build a GPS app that allows users to find interesting locations, don’t overlook the communication aspect. GPS technology is used by hotel and rental apps such as Booking.com and Airbnb to enable customers to share their experiences.

3.4. Insights From The Market

Geolocation technologies allow the collection of information about users’ locations and, as a result, the creation of user-centered advertisements. Starbucks’ Happy Hour campaign is a brilliant example of this technology. Starbucks sends customized alerts when a 50 percent discount in the closest store goes into effect. This allows people to use the app to make purchases.

3.5. Next-Gen Experience With Augmented Reality

Pokémon Go and other location based game have already became people’s favourites these days, they demonstrated that GPS development is a good match for augmented reality and applications that can take advantages of it.

4. Technologies That Enable Geolocation Functionality

Let’s start with the fundamental principle before moving on to the technical aspects of location-based app development. With the aid of a mobile device’s operating system, location-based applications create a link with satellites. The OS provides information about the current system location to the application. It defines the pattern of a moving object or individual by collecting and processing data in real time.

According to Statista, around 50% people from age of 18 to 64 use Location-based App for navigation in the US.

4.1. GPS

Modern smartphones have a chip that allows users to link to the Global Positioning System (GPS). This helps devices to calculate their current position with a 60-foot precision. GPS needs data from at least three satellites to complete this mission. Due to the availability of GPS support on smartphones, this method of geo position tracking is the most commonly used today. GPS becomes a main topic as we explore how to build a location-based app with our clients due to its widespread popularity and accuracy.

Advantages:

  • The position is calculated easily enough, which is critical for location-based apps to function properly.
  • Since GPS receivers are accurate assistants in determining the user’s position (even if we’re dealing with altitude above sea level), the precision of the result will be high if the conditions are nice.

Disadvantages:

  • Battery life is reduced. Despite the fact that developers are working hard to reduce GPS’s power consumption, the device’s battery life is still short.
  • Insufficient trustworthiness. Any system can malfunction, but the performance and efficiency of GPS receivers are highly dependent on the mobile device’s interaction with orbiting satellites (and numerous external factors can affect this process).
  • Atmospheric conditions and numerous obstacles have an effect. Large signal deviations may be caused by geomagnetic storms, tall trees, or tall buildings (up to 75-85 meters).

4.2. Cell ID

Another technology, Cell ID, is a less common choice due to poor coverage outside of major cities. With the support of cell towers, Cell ID decides location. The system compares the towers to which a computer is linked to the database of all nearby stations. The accuracy is not as good as GPS.

Advantages:

  • When it comes to major cities, the locating approach is an excellent option.
  • The solution is independent of the GPS signal’s service and availability.

Disadvantages:

  • Positioning accuracy is just a few hundred meters (in some cases).

4.3. A-GPS (Assisted GPS)

This technology incorporates two of the aforementioned technologies – GPS and Cell ID – to provide a higher degree of precision than either Cell ID or GPS alone. Consider A-GPS if you’re trying to figure out how to make a GPS app with pinpoint accuracy.

Advantages:

  • The user position can be determined quickly.
  • Sensitivity to “problem areas” has increased (such as depressions, tunnels, dense forest, etc).
  • Battery power consumption is low.

Disadvantages:

  • Some A-GPS features are only useful when you’re in a cellular coverage area, and they’re useless when you’re not.
  • Expenses have increased. The A-GPS solution absorbs a small amount of traffic when it first starts up; however, there is a chance that a signal will be lost, necessitating re-synchronization. It entails additional costs, especially when roaming.

4.4. Wifi

Wi-Fi, in comparison to Cell ID, covers a smaller range, allowing the technology to be more accurate. Wi-Fi can be used to calculate position in two different ways. With the aid of Wi-Fi nodes, the RSSI approach (received signal intensity indication) locates a user. The signal weakens as a system moves away from this point. This feature might be useful if you want to learn how to make a location-based app for an urban area.

4.5. Geo-fencing

This system is based on GPS, which determines how near a user is to a specific location. In the advertising world, geofencing is often used to target users with specific advertisements and deals. However, the range of potential applications is much wider, and geofencing is a solution for offering a more customized shopping experience.

Triggers are used in geofencing in three ways:

  • Static triggers function when a user visits a specific location;
  • dynamic triggers monitor location and submit alerts based on changes in the environment, such as when a parking space becomes available when a user passes by;
  • and combined triggers combine the two.

4.6. iBeacon and Eddystone

Apple and Google developed iBeacon and Eddystone, respectively. Bluetooth Low Energy (BLE) signals are used in all of these technologies. Only when an individual is beyond their reach can they send triggers to a computer.

iBeacon and Eddystone are known for their pinpoint accuracy. These two innovations will be a worthy addition to the core features if you want to learn how to build a location-based app for accurate indoor navigation.

AR functionality for location-based applications is an optional feature that can help you differentiate your product from the competition.

5. Location-based App Development Process

You asked about the different types of GPS apps, how to create a GPS app technically, and how much it will cost at the start of your questionnaire. You’re nearly ready to begin developing your own location-based app. Let’s take a look at a quick rundown of the location-based app development process, which includes all of the steps required to create a successful mobile app:

  1. Exploration of the market and competitor research: You can do these things on your own and email the organization with a ready-made solution and a well-written request. Otherwise, if you are unsure of your skills, you should seek assistance from a specialist organization.
  2. Prototyping: is the process of creating a model. Now you’re visualizing your idea and putting together its conceptual framework. As a result, you’ll have a better understanding of how your app will look and which screens it will have.
  3. Mobile app design with GPS geolocation: UX/UI design is a unique field that necessitates experts with a keen sense of style. The design of the app should be simple, easy to understand, and intuitive.
  4. The coding process is an essential part: of the geolocation app creation process. If you want to make a geolocation app that works on all platforms, it’s best if the business has iOS, Android, and web developers.
  5. Testing: Never overlook the testing stage! Otherwise, you run the risk of having an application that fails at the most inconvenient time. As a result, disgruntled users are more likely to uninstall the software they’ve already installed, and you’ll have to work hard to convince them to reconsider and download it again.
  6. App Release: The process of developing a location-based mobile app is now complete.

6. How Much Does it Cost to Develop a Location-Based App?

How can you transform your location-based app into a successful company with a high return on investment? Calculating your initial investment is the first step in answering this question. To begin, a number of factors influence the cost of developing a location-based app:

  • The number of features and their complexity
  • The number of platforms you wish to release your app on, as well as your tech stack
  • Software Development Company Location (Vietnam is the ideal location)
  • GPS software developers’ hourly rate
  • The sophistication of app’s design

It’s worth noting that deciding which channels to target is crucial. Your app will run on Android, iOS, or both at the same time. It may also have a Web version or be represented as a Progressive Web App (PWA) (Progressive Web App).

The price will depend on the time your team will spend on every step and their hourly rate. In this regard, it makes sense to look for an outsource development team in Vietnam. The hourly rates in Vietnam are wallet-friendly. For example the average rate of a software developer is between 20 to 30 USD per hour.

If you’re wondering how to make a GPS navigation app for Android & IOS, the MVP location-based app will cost around $60,000. A full-fledged product with more complex app features would cost about $150,000+ and take 4 to 9 months to develop.

7. Final Thoughts

By now, you have gone through the uses of geolocation technologies, learned their benefits, discovered the needed steps on how to make a GPS app, and roughly know about the budget for its technical aspects. We have made the following shortlist to give you some location-based app ideas that could potentially gain popularity:

  • Location-based social networking apps
  • Location-based discount apps
  • Messaging apps based on geolocation
  • Location finder apps by photo
  • IoT applications

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Enterprise Apps vs Consumer Apps: A Detailed Comparision

There is no denying that mobile applications are a big industry. With the new era of digital technology, everyone in the world is well-aware of what technological apps are. Furthermore, apps have become a fundamental part of experiencing a tablet or smartphones, they are now part of our daily routines at home and even at work. Nowadays, people are so obsessed with apps that they would stick to their smart devices wherever and whenever they are. Because such apps are convenient – they allow us to do tasks and to entertain in a more efficient and engaging way – humans are psyched over them.

However, not all apps are the same. They can be divided into different categories, consumer apps and enterprise apps in particular. These two types of apps can be matched with a certain operating system like iOS or Android, but they play different roles depending on the requirements of clients and purposes. Wanna know what are those differences are? Keep scrolling down!

Enterprise App vs Consumer Apps | Savvycom

1. What is Enterprise Apps and Consumer Apps?

As we can infer right from the names, consumer apps are apps designed for customers based on customer distinctive needs and want – in contrary with apps that are born to meet business demands: enterprise apps.
Some popular examples of consumer apps are Facebook, Instagram, WhatsApp; the seemingly silly (but it turns out it’s not! Ah hah!) games Dumb Way To Die, Candy Crush, etc.; or economy-sharing solutions such as Grab, Uber, Airbnb; or for entertainment purpose including ClickMix, Camera 360, etc. and so on.

Nevertheless, some examples of enterprise apps are Oracle, a customer relationship management app, Hubspot as a Marketing Tool, or Liquid Planner for project planning and managing.

2. The Similarities

First thing first, we can tell that both of them are apps that we use all day everyday. But there are also some worth-mentioning similarities between enterprise and consumer apps, such as:

  • Both apps expect how applications should work, look and behave. They all must be simple to use, responsive and must have a convenient and logical interface.
  • Both apps seek to accomplish users’ desired purpose.
  • Both apps find it important to design and code for positive and engaging user experience. Optimal products are developed when software developers and UI/UX designers take this consideration into account at every step.

3. The Differences

Without a shadow of a doubt, there are more differences than matches in the love story of consumer and enterprise apps. Curious why they don’t belong to each other? Let’s find out!

3.1. Target audience

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As the definitions indicate, consumer apps target at each and every people, without limiting to any individual, group or organisation in specific. Enterprise apps, in contrast, have a clear intention of who are going to be their customers – the businesses.

Although this is a considerably smaller segment compared to that of consumer apps, enterprise apps have their own efficient way of making great money out of their customers. This will be discussed later in the article.

3.2. Accessibility

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Consumer apps are always available in app stores (App Store, CH Play, Microsoft Store, etc), which is a public place for literally everyone. Moreover, consumer apps aim at proving the ultra-convenience for users throughout the experience pipeline: from pre-download, during download to post-download. No matter who you are, which community you belong to – as long as you have a turmoil needed to be cured, you can always have a friend in consumer apps.

On the other hand, enterprise apps are not something that can easily be seen in a mass market and are not friendly for common day-to-day utility. They are tailored-made for operational activities within businesses, which usually have strict rules over security and confidentiality, so the access to these apps are mostly restricted to employers and employees of the same organisation. That explains the poor popularity of enterprise apps to us in daily contexts.

3.3. Functionalities

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Consumer apps are born to improve humans’ daily life one way or another.  Whether it’s an Internet signal obscurity, a missing of your favourite cat, or insomnia – consumer apps are always there to help you kick it to Mars.  All came to sketch out a fast, easy, less-of-a-nuisance life for the consumers.

Meanwhile, enterprise apps are designed to achieve business goals rather than to meet the needs or preferences of individual users. Enterprise apps are mostly custom-made for each organization and help them to achieve their objectives in a more efficient manner. These apps optimise management processes and have a very positive effect on business conduct. Specifically, enterprise apps are developed to increase productivity, streamline processes and create efficiencies. They can give more flexibility and mobility so that an employee need not be confined to a certain space while working.

3.4. Goals

Consumer app developers want positive reviews in the app stores as well as good word of mouth amongst consumers so that they can increase in the number of users and make lots of money out of subscriptions, in-app purchases or ads.

In contrast, the primary goal of enterprise app developers is to improve efficiencies and increased revenue for clients by streamlining processes and creating appealing interfaces which encourage employee efficiency and enjoyment.

3.5. Types

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Having no particular target basically leaves consumer apps with no particular types. Our preferences and necessities for certain things in life are remarkably diverse, therefore, consumer apps as a servant of humans have to play active and variable roles in every aspect accordingly. That being said, consumer apps cover a wide range of professions, including but not limited to social networks, gaming, music, photography, news under various categories (politics, entertainment, education, health, finance, travel, transportation, etc).

In the upside world, enterprise apps, thanks to its boundary in target audience, are categorised into two major types:

  • Open apps
  • Closed apps

Technically, open apps are for internal interactions and closed apps are developed for supporting the company’s processes. 

Open apps, in one hand, are mostly time reporting, billing, and payment processing applications. These apps have a generic function to be used internally, their sales target multiple individual businesses across many sectors.

On the other hand, closed apps have a much more specific purpose in comparison to open ones. The functionalities of a closed app is not as basic and simple as task tracking, cashflow managing, but reflect a set of unique expectations such as tracking down the inventories and distribution chain by connecting the internal networks among partners and automatically extract, analyse and categorise needed data from those servers for each distinctive application within the company.

Closed apps require a high-quality skill set in order to fully understand customer exclusive demands as well as to successfully develop an app that is no where on the market before.

3.6. Price

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Generally, enterprise apps, especially closed apps, are more expensive than consumer apps despite the smaller target audience because they are much more complicated to develop. As per above statements, closed apps are developed on a custom basis and their development needs more investment in time and resources than that in consumer apps’s case.

3.7. Revenue

a/ Consumer App

Talking money, the revenue of consumer apps mainly flow-in through 2 streams: the consumer line including in-app purchases and subscriptions, and the business line such as ads. In terms of the consumer line, the fee charged for subscriptions or extra functionalities is quite cheap, usually under $15.

The competition in this niche is fierce, which is easy to understand because the audience set is way too large, meaning there are big threats of new entrances and substitutes. There is always “that guy”, a showy green-horn appearing out of thin air, bringing a shiny new “toy” on the table. Everyone gets psyched, and you lost your point after one night.

A top-downloaded consumer app today could be the last in the chart tomorrow, and an app that’s nowhere in our sight yesterday can be a crazy phenomenon today – who knows. This might be an opportunity for the freshmen, but a big challenge for the senior ones.

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Therefore, to fight back “that guy”, one shall try to keep as many users as possible for its own. Cheap pricing seems like a good strategy most of the time. Almost no middle-class men, who account for the majority of the society, is going to pay too much on an app they know will soon be out of trend (except for professional apps like Adobe CC, Final Cut Pro, etc because they are part of some people’s occupation).

Speaking rationally, consumer apps shouldn’t, and can’t go high in price. If your price is too high, consumers would simply leave you and use another app of similar functionalities with a much cheaper subscription or in-app purchase. No candy left for you, you’re doomed. So instead, consumer app manufacturers should go wide in numbers. Try to get many users, and keep many users as fast as possible.

Still, the story doesn’t end there. Growing in size is just the foundation to rocket the profit. The higher the number of users grows to be, the bigger and more diverse the database – or the market. As a result, they become a hot piece of beef in the eyes of other enterprises. A consumer app then is not only a product sold solely for the consumers but also a marketing channel for another company to market its product. The manufacturers become even richer for being an intermediary.

b/ Enterprise App
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The story is both similar and different for enterprise apps. Enterprise apps also have 2 revenue streams: direct and indirect. An enterprise app manufacturer can charge businesses for a one-time fee for a lifetime license, which is usually high because of the customisation factor in the development process. The more apps these manufacturers license to other enterprises, the more money runs into their pocket.

Or, such apps could generate revenue in an indirect way. Due to the fact that the efficiencies these applications provide often add up to the substantial savings in time and operating costs over time to the enterprises, enterprise app manufacturers could ask for a percentage share in that company’s profit (which will probably increase thanks to the optimisation effect the app brings about), or provide a subscription-based service as per discussion.

3.8. Design

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Gamestore App UI / UX

To consumer apps, designs are one of the key players. Let’s go back a little bit to the philosophy of these types of apps. As per the above explanation, the competition in this field is a matter of life and death, and the only way to survive is either going ahead of trends or converting as many users to loyal customers as possible.

The former option sounds really pleasing, but it’s an ultimately challenging one. Even Usain Bolt, the fastest man on this Earth, can’t always win the gold medal. Therefore, building brand identity and loyalty is a better long-term strategy. But how does that strategy work?

Except for countless R&D efforts to improve the product and a lot of marketing campaigns for promotion causes, consumer apps also try to attract and retain users through an emotional attachment element in the design. To be specific, consumer apps may provide the experience of instant gratification from product purchase “buyer’s high” or the satisfaction from achieving a high score on a game.

For instance, a game app might ask the user if they would like to continue playing when they lose a stage or to pay an additional fee to boost their score.

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Frontegg is a platform for SaaS companies, offering out-of-the-box Enterprise-Readiness

On the flip side, enterprise apps don’t buy that idea. Of course in some industries, designs are important. However, for the major rest, developing a visually appealing app is not really necessary. Why is that? Because enterprise apps are simply tools to help enterprises optimise their internal operations – they don’t resell it to another party, nor present to any external force for commercial purposes.

Let’s imagine: Do you wear a stunning wine-red backless mermaid tail dress while sitting in front of your TV alone, eating a giant bowl of popcorn and binge-watching Sex and the City for the 100th time? Sounds crazy.

With that in mind, most business customers of enterprise apps see UX as an unnecessary feature, a costly add-on, or even worse – a distraction. An example of it can be an animation. It may improve the design and attract users but slow the users from completing tasks. No efficiency improvement after all, so what’s the point? Another difference between consumer apps and enterprise apps at this point, is the focus on language design.

The main (and perhaps only) “retail” store of consumer apps is smart devices’ app stores. The customer market, as emphasised a lot throughout this article, is insanely huge and diverse. There are people of different occupations, different tastes, different ideologies, different nationalities, et cetera. Hence, the problem for consumer app developers is to design the app for everyone that supports a variable of languages, cultures, and preferences.

Therefore, the concentration on customer variation is highly prioritised in case of consumer apps. Meanwhile, because enterprise apps are specifically designed for one company, there is little spotlight on factors like languages, cultures and preferences. They just need it to be comprehensive, user-friendly, secure and optimal for their business activities.

A tablet computer on a desk - Press Release

How To Write a Top-Notch Press Release for Your New Mobile App Launch

Let me guess! After a long process, from conceiving an idea of researching the app costs to hiring your team of developers, your dream app has finally come to life. Then Congratulations! You’re now halfway through the journey!

On average, around 6140 apps are launched every day between 2016 and 2018. Unfortunately, some (if not many) of these apps will soon fall into oblivion, no matter how brilliant they are. If you don’t want your precious brainchild of an app that takes you months of hard work to go unnoticed among thousands of other apps, then make sure that you do a fantastic job promoting it. Getting media attention to your new app with a press release is a great way to start.

A press release is a cost-effective and commonly used tool for companies to generate media coverage.

1. What’s a Press Release?

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“A press release is an official statement delivered to members of the news media for the purpose of providing information, creating an official statement, or making an announcement directed for public release. Press releases are also considered a primary source, meaning they are original informants for information.” – Wikipedia

In short, a press release (sometimes known as a news release) is a concise document that informs the press and other media sources about something noteworthy you’ve done. It’s usually provided to journalists and editors, who might utilize the information to generate a news story.

2. Why Is Press Release Still Relevant in 2021?

In case you’re still wondering what to expect when writing this type of content, let’s take a look at the major benefits of press releases.

2.1. Affordability

Press releases are often written by the public relations department within a company. Then the company will have to pay press release distribution expenses to send its story news to journalists or media influencers. But this expense is still a lot more affordable than other forms of paid advertising and publicity, making a press release an overall inexpensive PR option.

2.2. Chance to position yourself as an expert

A well-written press release covered by leading publications will increase your credibility and help you be recognized as an authority in your field. Once you’ve established yourself as an expert, your reliability will enhance brand awareness among your target audience and will likely draw in more customers.

2.3. SEO advantages

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As you work on your press release, you will have the chance to optimize your content to fulfill the Search Engine Optimization requirements. By adding relevant tags and keywords, you’ll increase the visibility of your content. In addition, as your press releases are published by several media outlets, you’ll get high-quality backlinks to your website.

2.4. Content distribution across multiple channels

Press releases can be distributed via both print and online mediums, ensuring your brand’s media coverage. People can see your story in the local newspapers and magazines or via direct mail. You can also distribute your press releases via social media and email marketing by uploading them to your website or blog. Exploring all these channels is an effective way to maintain your media presence and engage your target audience.

2.5. Chance to attract investors

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Press releases showcase your company’s expertise and accomplishments, which can spark investor interest and might, later on, attract lucrative sponsorship to your business. A compelling story with a clear description of how you benefit your customers can help you grab the attention of prospects and investors alike. Read the our review at Fixthephoto.com to understand more about Savvycom – Your Trusted Tech Partner.

3. When Should I Write an App Press Release?

As defined above, press releases are used to let the public know of major company announcements. There are numerous opportunities for writing app press releases and distribute them on the wire. Here are some examples:

App launches

Industry firsts

Sharing original research findings

User acquisition milestones

Winning awards

Partnerships

4. What News is Press Release Worthy & What Isn’t

It’d be a complete waste of time writing and sending a release that is not newsworthy. Changes happen to your company from time to time. Still, unless they have a particularly significant impact, they do not require a news release.

5.11 Basic Rules for Writing an Awesome Press Release

Here are some key things to keep in mind when writing press releases for maximum media coverage.

5.1. Newsworthy Content

A survey by Muck Rack and Zeno Group revealed that only 3 percent of journalists in the world reported relying heavily on press releases for finding new story ideas, as opposed to a remarkable 49 percent who claimed to “not rely on them at all”.

It appears that your press release might as well go unnoticed like hundreds of other stories being pitched to the busy journalists, so before all else, make sure you have a story that piques their interest. Having a shareable story that’s likely to be picked up- that’s half the battle.

5.2. Target Audience in Mind

Knowing who your audience is will help you make informed decisions on organizing ideas or what types of material you use to support your points. Putting yourself in the audience’s position allows you to finely adjust your content to their interests, thus increasing the odds of your earned media coverage.

However, one crucial thing to consider is the interest alignment of your own target audience and your publication’s audience. If the magazine chooses to publish your story, then it will also be viewed by its audience. This means that your press release has to bring value to the audience of your publication as well.

5.3. Write in Third Person

The standard writing approach for press releases is writing in the third person. Use third-person pronouns as if you’re telling someone else’s story. Only use the first person for quotes from actual people.

5.4. Catchy Headline

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The headline is what entices your readers into viewing your story in the first place. Your headline should be able to capture the essence of your entire tale while being concise and punchy at the same time.

5.5. Keep It Short & Simple

The ideal length of a press release is around 400-600 words. Write it too short, and you might leave out important points in your story. On the other hand, if your article is too long, chances are the readers won’t finish it.

Resist the temptation to include every piece of information possible. Things like your company background or other additional details can be included in the boilerplate at the end of your article.

5.6. Keep Your Reader Interested

Emphasize what your company has done (or is doing) instead of focussing on its future plans. Try to use the present tense to vividly describe the situation and instill a sense of excitement.

5.7. Avoid Redundancies & Clichés

As mentioned above, a press release should be succinctly written, so every word in your writing must be there for a reason. Redundancies and clichés unnecessarily prolong your report without adding any value. When editing your article, look for the redundant phrases you might have overused and replace them with new, creative ideas. 

Online cliché and redundancy checks like ProWritingAid or Cliché Finder can be of great help.

5.8. Back It Up With Statistics

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Your release should be a presentation of facts rather than a series of biased remarks. Use relevant statistics to support your claims. Select interesting statistics if possible. These statistics should come with proper citation to ensure their credibility.

5.9. Use quotes smartly

Quotes should be added for insight from an expert or a spokesperson of your company rather than for sneaking in more information. They should serve to convey your key message and cleverly promote your business image.

5.10. Include imagery   

Images help readers visualize what the release is talking about. Points to consider when selecting a picture are its relevance to the main content, quality, size, and ownership (if it does not belong to your company). You might even want to go as far as to create your own infographic that supports your writing. According to the Muck Rack and Zeno Group survey, 49 percent of journalists said they would be more interested in a press release if it contained an infographic.

5.11. Don’t forget your boilerplate and contact details

Add your business boilerplate at the end of your release, briefly describing your company within a short paragraph. You can also include your company’s highlights such as recent awards, unique cultures, or social impact if possible. Then put in your contact information if the journalists want to get in touch with you or simply want to check your credibility.

6. How To Write a Press Release: 10 Easy Steps

Information in a press release is presented in an inverted pyramid, going from the most important to the least. Below is the structure (or format) of a good press release. General Template of a Press Release. Again, let’s go into details about each component.

6.1. Headline

This is one of the most complex parts of writing a press release, as you have to grab your readers’ attention within a maximum of 100 characters. The headline should contain the name of the company and what announcement it makes.

The first letter of each word should be capitalized. Keep it simple yet exciting. Use active voice and insert impressive figures if possible to make it exciting and powerful. Also, try to evoke readers’ emotions with your wording and word choice.

6.2. Subheading

This is a non-compulsory part of a press release. The subheading should be brief and eye-catching. It complements what is stated in the headline and serves to encourage the audience to read on.

6.3. Date & Location

The date and location should be included at the beginning of the first paragraph. Make clear where the announcement takes place and when. Use a dash to separate the date and location from the rest of a section. It should look like this:

Physical location (country, state, city) (month, date and year) – “MOUNTAIN VIEW, Calif. (June 06, 2019) – Google LLC today announced…”

6.4. First Paragraph / The Intro

This is where you summarize the key points of your story. Keep in mind the 5 W’s (Who, What, Where, When, Why). Start off with the date and the location as stated above, and then the name of the company and the announcement. Next, briefly describes what the company does and explains why its tasks matter.

6.5. The 2nd & 3rd Paragraph

Develop your story using the essential details. Give further elaboration on what was mentioned in the previous paragraph and explain its significance. Each section can be scattered with more information but should also be concise. Keep a natural flow with logical and united points. Avoid repeating yourself.

6.6. Fourth Paragraph / The Quotes

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Include quotes from the spokesperson who can be your company’s founder, a senior member, an expert, or other relevant people. The quotes section helps convey the main idea of the release, often emphasizing the significance of the company’s announcement. It also adds dimensions to the story by providing opinions rather than facts.

Good quotes should sound natural. Make sure to attribute your quotes, saying the name and position of the person you’re quoting.

6.7. Fifth Paragraph / More facts

This part solidifies the importance of the announcement with further examples, facts and figures.

6.8. Sixth Paragraph / The Closing Quote

A further quote is optional- include it only when it serves to bring more weight to your story. To enhance the credibility of your company’s product or service, you can introduce quotes from a third party spokesperson.

6.9. Boilerplate

End your release with your company’s boilerplate- a brief description of your company, including facts such as location and date of establishment, company size, products and services, purpose and positioning, etc.

Normally, the same boilerplate is used on every press release you send, but you can always tweak it a little for different releases or update some facts from time to time.

6.10. Contact details

Provide contact details so the journalists know who to contact for more information. Include a point of contact with name and position, an email and a phone number.

7. Press Release Examples To Learn From Big Brands

Here are creative press release examples from Apple, Google and Microsoft that you can’t ignore.

7.1. Apple

Service Launch Press Release from Apple

What can we learn from this press release?

  • The headline gives an overall “definition” of the new service.
  • The introduction provides all the key points of the whole press release.
  • Apple includes a video that highlights the new service of their product.

7.2. Google

Acquisition Press Release from Google

What can we learn from this press release?

  • The headline is straight to the point.
  • Relevant quotes from company executives are added throughout the story.
  • The whole press release is short and concise.

7.3. Microsoft

New Partnership with OpenAI Press Release from Microsoft

What can we learn from this press release?

  • The headline covers every key point.
  • The major agreements are presented in bullet points, which makes it clear and easy to follow.
  •  It explains the context of the partnership and provides a relevant picture and quotes.

8. How To Submit & Distribute Your Press Release

Now that you’ve done writing your press release, it’s time to move on to the next step: Submitting it to outreach such as journalists, bloggers or influencers.

Basically, there are two main ways to submit your press release:

  • Self-submitting
  • Using a press release distribution service.

8.1. Self-submitting to media outlets or influencers

This method is often used by startups or small companies running on a budget and wanting to save money.

If you choose to submit your story this way, you’ll have a lot on your plate. But don’t worry, we will walk you through this process step by step.

I. Create a List of Outlets to Submit Your Press Release

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Look for news sources that are relevant to the message of your story and your target audience. These sources might include a newspaper, a magazine, a radio station or a television channel, either in your local area or in geographic areas where you wish to do business.

You can find other sources of news online via Facebook groups, blogs, Instagram accounts, and other informal groups. Look up the influential figures in your field including noted bloggers and industry leaders. Whatever sources you choose, make sure you have the name of the media agency, the name and title of the person of contact, their email address or phone number.

II. Research Submission Guidelines

It’s very important to closely follow the submission guidelines, as there’s a good chance that the publication won’t accept incorrectly formatted releases. Submission guidelines are normally found on the website of the news publications. There you will see what kind of topic the news organization is interested in as well as the content and format requirements of the release. You will also know if your submission will be edited or not.

If you can’t find the submission guidelines, try to directly contact the journalist working for the news agency.

III. Submit the Press Release

Submit your release according to the guidelines to the contact you’ve found in step one. Your release should be submitted via email as far in advance as possible, from at least a couple of days to a few weeks before the appearance of your coverage.

Your submission email should include the following parts:

  • Subject line: State the topic or simply use the headline of your release topic. There’s no need to use “press release” in your subject line.
  • Greeting: Greet the recipient by his/her name.
  • First paragraph: Introduce yourself and your business.
  • Second paragraph: Shortly talk about your announcement and that you’re writing to send a press release.
  • Third paragraph: Call to action. Ask the recipient to do something in response.
  • Closing: Say “Thank you” and offer to provide further help.

Make sure to include your contact details at the end of your email.

IV. Follow-up

Follow up with a call or a voice message to your contact, informing them that you’ve sent them a release and adding relevant information that might pique their interest.

8.2. Using a Press Release Distribution Service

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If you want to spare yourself the trouble of researching all the outlets for your press release and reaching out to the publication, this method is the right choice for you.

With this method, all you have to do is to look for a reliable PR distribution agency who’s gonna do all the work for you.  However, this will cost you a certain amount of money if you work with a paid distribution agency.

You can also opt for free distribution services, but those typically offer limited exposure. Remember, your goal is to gain as broad media coverage as possible.

Some reputable press release distributors include:

9. How To Build On The Success Of A Press Release

You’ve successfully got your press release accepted by a news agency, but your work is not done yet. Now it’s time for you to make the most of your success.

  • Share this good news with your employees. Letting them know of important announcements like this first will boost their morale and build up team spirit.
  • Publish the news on your blog and social channels, enriching it with more valuable content and images, infographics, videos, etc.
  • Inform your partners or clients via email or newsletter.
  • Spread the news far and wide by featuring in a major publication. Include the publication’s logo on your homepage, under a “featured in” banner, then talk about this in any outbound marketing such as upcoming newsletters.
  • Build a relationship with the journalists or publications that agreed to feature your release, starting with a thank you email.
  • If a journalist wrote up your press release into an article, send them a brief thank you email. This is an excellent way to start building a relationship. They may use you as a source for expert comment or offer you a guest article spot in the future.
  • Keep a list of the publications and journalists that featured your press release so you know where to focus your efforts for future media pitches.

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