Global technological advancement has boosted creative thinking in the mobile app development services industry, while also providing customers with convenience in all financial transactions.
“There’s an app for that,” a phrase that has become increasingly common as we live in a world where everything needs to be one click away and right now. With users spending 90% of their time on apps rather than mobile web, what advantages can they provide shoppers and what impact will it have on the convenience channel? Let’s find out.
Apps for socializing and entertainment aren’t the only ones seeing an increase in usage. On-demand apps such as food delivery, fitness classes, and doctor visits are becoming increasingly popular. And mobile app shopping has grown to the point where it now has its own term – m-commerce.
M-commerce is distinct from e-commerce, which is defined as online shopping on a computer. M-commerce sales were expected to reach $3.56 trillion in 2021, a 22.3 percent increase from $2.91 trillion in 2020.
The average active app user is younger, which is likely due to millennials growing up in a technological age. Only half of 16-24-year-old convenience store shoppers consider themselves loyal to a specific brand, compared to two-thirds of those aged 55 and up.
Because the said age group appears to be more attached to their mobile device, convenience stores can hire mobile app development services to create attractive mobile apps to gain the loyalty of the discussed group.
When it comes to performance, loyalty and voucher apps tend to outperform in terms of awareness to download ratio – retailers and suppliers should keep this in mind when developing apps, as shoppers are more likely to download and engage if they have something to gain.
As a result, when developing a successful app, functionalities such as loyalty points, prizes, and promotions should be included, but not limited to.
The functionality and convenience it provides to customers are at the heart of mobile app development services. Apps are designed to significantly improve service delivery and user experience without requiring customers to physically interact with their banks.
This is the distinguishing feature and benefit that the newly relaunched Stanbic IBTC integrated mobile banking app provides to the market.
Mobile devices have aided financial inclusion by increasing financial transactions on the mobile platform, saving customers time spent juggling busy schedules.
The customer experience (CX) has risen to the top of the priority list for businesses. According to a 2020 study conducted by XM Institute, a link was discovered between the quality of customers’ experiences and their likelihood to continue purchasing from the company, recommend the company, trust the company, and forgive the company after a bad experience.
Understand Your Client’s Preferences
Consider your largest customer segment before deciding what your mobile app should do. Who comprises that segment, and how has it evolved? What do they have to say about their interactions with you? Are they wishing they could complete certain tasks without having to contact you or in a more convenient manner?
Once you’ve identified a potential function for your mobile app, it’s a good idea to create a quick user journey to ensure that your mobile app idea and target customer segment are a good fit.
Mobile app development services are best left to professionals and necessitate a sufficient budget. The cost of developing a mobile app is higher than the cost of developing a website. However, when developed by a skilled company, a mobile app provides a personalized, one-of-a-kind customer experience that leads to higher engagement and happier customers.
In this 2020 Walker study, 86 percent of buyers said they would pay more for a better experience. So, if you’re having trouble raising funds, consider reallocating funds from something like direct mail campaigns to mobile app development services.
The Decision Is Yours
Now that we’ve gone over some of the key deciding factors for a mobile app, you should have a good idea of whether or not an app is right for your business and its customers. A good mobile app can meet your target audience where they are, on their mobile device, and improve their customer experience, ultimately increasing their satisfaction with your brand.
Whether that decision is made on the app or not, a professional, responsive website is a must for any business. So, your choice should be InfiniSys now. Why? Because InfiniSys aspires to the creation of responsive websites and mobile apps. What we recommend you is to have a free consultation with one of our experts and see if we can be the best fit for your business.