Do you need a mobile application for your business? How much does it cost?

Do you need a mobile application for your business? How much does it cost?

 

DUH. Singapore has the highest smartphone penetration rate; it is almost a no-brainer question to think that whether a business should have their own mobile application. If you think that mobile apps are only for big name brands or ecommerce based businesses, you are entirely wrong.

 

Apart from facilitating your business activities, it will be a good way to take your marketing to the next level. Here’s why:

 

  1. Increased Exposure

Having an App installed on your customer’s phone means every time they unlock and look at their homepage, they see you. Survey shows that average Singaporean spend 3 hours 12 minutes on Mobile Phones. This further increases your chance of exposure. Customers are unconsciously planting an image of your brand in their brain.

 

  1. Direct Marketing Channel

Your mobile app contains all the information you need to provide to your customers. This includes special promotion and new products. Through push notifications, customers are receiving information directly from you, without external channel or noises.

 

  1. Build Brand Loyalty

You can slowly make impact to your customers through constant exposure and updates. This allows you to stand out from the immense competition out there in the regular advertising world. Mobile app can also be used for membership management, which provide convenience for customers to revisit your product and service.

 

 

There are different types of mobile Apps that serve different kinds of businesses. The cost of developing also varies.

 

 

Information based Apps

 

This type of Apps usually presents simple information for customers’ reference. For Apps that do not require any updates whereby the information is fixed, the cost of development is lower, with approximately S$10,000 to S$30,000. If you need constant updates with your own database, the cost will be slightly higher ranging from S$15,000 to S$40,000.

 

Sale of product and services

 

This is a good chance for you to be onboard e-commerce as people are getting lazier as technology advances. You are likely to lose large percentage of you business if the purchase decision cannot be made online. Mobile App is better than only having a mobile friendly website as it provides better User Experience (UX).

 

The cost for developing such Apps should range from $S20,000 to $S60,000 depends on the complexity and functionality of the App. Do also note that transactions through Apple Store or Google Play Store involves up to 30% of your revenue.

 

Marketplace

 

Different from the above-mentioned sales Apps, a marketplace provides a platform for 2 distinct parties with demand and supply. As the data volume is high and requires extensive work on the UX, marketplace Apps are often most expensive to develop, costing around S$30,000 to S$100,000 sometimes.

 

Business process automation

 

Companies use these Apps to improve productivity, by streamlining part of their business process with the help of Mobile Apps. Examples are CRM, HRMS, Accounting, Point-Of-Sale, etc.

 

The cost of development for these Apps depends largely on core database functionality. Simple modules may cost around S$10,000 to S$20,000. More complex modules with a advanced workflow can sometimes go up to a million.

 

 

Business Connectivity is experience in developing Applications for different industries. From healthcare, education, finance, food & beverage, industrial automation, electrical power, oil & gas. Contact us now for a free quotation!

 

 

Reference: https://www.straitstimes.com/singapore/12hr-42min-connected-for-hours

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