A good idea is no longer enough for a successful business or startup. Along with a strong product or service, you also need to ensure flowing communication and easy access for your customers. Having a strategic channel or platform to communicate with your audience can directly contribute to business growth.
More than 80% of time spent on smartphones today goes towards using different types of apps and this growth in the usage of mobile apps has created a powerful channel for customer engagement that startups can use to maximise profits. There are several technology services for startups that can help develop, deploy, and manage your app.
Does your business need one? Here are five different types of startups that can grow with a dedicated mobile app.
Lifestyle Startups
According to research shared by Flurry Analytics, by 2014 itself, mobile app usage had grown by 76%. Of this, lifestyle and online shopping apps saw a 174% growth, the highest volume of growth by any domain. If you are starting an online shopping business, you need to have a dedicated app for your customers.
Small Business Startups
This refers to businesses that are not inherently too ambitious. They give steady income to founders. For small business startups, you won’t need a dedicated B2C app from the start. However, what you will need is a platform that can easily track and order the products and services that your customers might want. Research conducted by Qualcomm and the Boston Consulting Group has shown that 82% of SMEs agree that advancements in mobile technology are giving them a strong edge against their competitors. This edge meant greater flexibility and agility in operations and customer engagement.
Scalable Startup
Imagine a startup has launched its intuitive software solution. Their initial major investment will only be on the creation of the first software, while the rest can be replicated and mass-produced without drastically altering the source code. In other words, their costs for mass production will bring down their per-unit cost and cover their initial investment. For this reason, venture capitalists majorly invest only in tech startups and not service startups. Some examples of scalable businesses you might know today are Basecamp, Airbnb and Uber.
Read More: Technology services for startups – The tech challenges and how to overcome them
Buyable Startups
Owner sell these companies later and later become a part of larger organisations in the industry or domain. Many mobile and web applications within the past decade have been bought by internet and web giants like Google and Facebook. Being in the domain of the internet, buyable startups create and run on products that depend on web development or applications. These products are developed from scratch, launched and generated a user base. Seeing their success, larger conglomerates get inclined towards acquiring them.
Social Startup
Social Startups are created by entrepreneurs who are passionate about social situations and driven to create change around them. These organisations can be termed as non-profit, for-profit and hybrid companies. Almost every social startup requires donations for its projects. They often get enough donations and run on the community efforts of people who share their mindset. Over 60% of the population today uses mobile devices to access the internet. Social startups can easily channel their funds and donations with a centralised, dedicated app.
Regardless of the domain you operate in, you can give your business the edge against your local competitors with the launch of your dedicated business app. Don’t wait for the others to start, take the first step towards your app and explore the different technology services for startups.
