Companies and ROI Measurement of Mobile Business Apps

Ever-increasing sales figure of smartphones draws attention of entrepreneurs across the world. In order to reap the benefits from booming smartphone sales, they opt for customized mobile apps. Such apps serve many objectives like improving day-to-day business activities, making data accessible on the move through BYOD concept and the like. But, when it comes to finding apps’ impact on online marketing campaign and sales, entrepreneurs become clueless. Such impact can be found out through measuring return on investment (ROI) from business mobile apps.

Necessity to measure mobile apps’ ROI

Companies have spent good bucks on development of customized mobile apps. They need to spend on security and maintenance of apps as well to ensure their flawless operation. Therefore, it is important for them to measure the ROI of mobile business apps.

Regular measurement enables companies to remain assured about mobile apps’ success in serving all important objectives.

Hurdles in a way

When it comes to measuring ROI of customized mobile apps, companies face hurdles from both technical and business viewpoint. It is difficult to find out measurable factors regarding mobile strategy and, therefore, companies like to stay on the safe side while calculating it for mobile apps.

Companies usually calculate it on the basis of mobile apps’ apparent benefits like improvement in customer satisfaction. They don’t consider intrinsic benefits like increase in sales or stability in business growth. Another nail in the coffin is most of the entrepreneurs have a perception that it is impossible to measure it in mobile. While the truth is that, technological advancement facilitates mobile tracking and analytics in a way that companies can measure true ROI and other key metrics.

Method to measure

Usually, return on investment of any product or service is measured by dividing net profit by total assets. But when it comes to finding out the same of the business mobile apps, companies need to find measurable key performance indicators (KPIs) that are suitable to companies’ goals and mobile marketing strategies. In other words, companies need to find the KPIs that directly reflect their mobile marketing goals.

Companies can then compare measurable KPIs with app development costs. Such comparison gives a tangible ROI number that can be compared with mobile strategy. On that basis, companies can decide further strategies and find opportunities to drive revenue through mobile marketing.

Consider app development platform

With an innovative app development platform, companies can save up to 70 percent mobile app development costs. Such savings will directly reflect in ROI, increasing it in a significant manner.

Here, there is a word of caution: These days, as we have many app development platforms, it’s better to compare some of the most innovative online app development platforms before selecting one for customized app development.

Conclusion

Companies should measure ROI for finding impact of their tailor-made mobile apps. It assists companies to take further moves for both mobile apps and mobile marketing campaign.