Mobile App development has been taking over the world over the past few years. More and more business leaders are shifting towards this trend. With plenty of avid mobile phone users, the market for app development has exploded. The industry of mobile app development is spreading like a vine globally.  Whether it is in the United States, China, Australia or mobile app development company India, its reach has been everywhere. If you are also thinking about joining this lucrative business platform then there are certain elements to keep in mind. So let’s move forward and find out the essential 6 elements that you should definitely consider before setting up your mobile app development company.

1.Market research

You have got an idea and are brimming with excitement to turn that idea into reality. But before taking a step ahead into the nits and grits of setting up the business you should do thorough market research. You need to know what the market has been offering currently. This piece of information will help you find the gap that your app shall be able to fill up and provide a completely fresh offering in the market. Being a highly competitive market you have to present something unique and new for your mobile app development company to rise in the business platform. You cannot achieve that without knowing the current status of the market. Consider finding answers to these questions when you are initiating complete market research.
  • Who are your existing competitors?
  • What strategies have they adopted?
  • What strengths and weaknesses they possess?
  • What are the customers saying about them in the reviews?
  • What is the Unique Selling Proposition of your competitors?
Discovering these points will help you understand what you should and should not do while establishing your company. Plus, it will ultimately assist you to stand out from the rest of your competitors.

2.Platform choice

When it comes to mobile app development choosing a platform is an essential element for establishing the business. However, picking a platform has been elementary compared to past years since the options of varied platforms have reduced over time. In the early years, the developers had to pick between Symbian, Blackberry, Windows Phone, Android and iOS. But that is not the case today. Blackberry and Symbian have been out of the equation whereas Windows Phone has failed to make an impact on the market. In fact, in recent years, only 10 million mobile phones run on Windows. Whereas the figures for iOS and Android are hundreds of millions. So your choice lies between either Android or iOS platforms. However, looking at the statistics of the previous years Google Play store remains ahead with its annual downloads of 76 billion in 2018. While iOS's App Store figure for annual downloads was at 30 billion marks. But the situation drifts drastically if we take a look at the annual revenue figures of these two competing platforms. App Store despite its less number of downloads was able to garner twice the annual revenue than Google Play. So if you want to make a fortune with your app development business then iOS and Android are the two significant platforms that you need to select from.

3. Native vs Hybrid

After you are done with the platform selection process, the following element that you need to consider is choosing between native or hybrid apps. This technical decision is as crucial as any other decision that you have been making until now for establishing your company. Making this choice will lead you to implicate your future app developments and maintenance. For making a better choice regarding this matter you need to do full-proof market research beforehand.




But for providing you a basic idea we have come up with the core difference between a native and hybrid app.
  • Native apps are specifically built for a mobile operating system. While Hybrid apps are web-based apps but are also configured to run on smartphone platforms.
  • Native apps are a bit on the expensive side of app development. On the other hand, hybrid apps are comparatively cheap.
  • Native apps do not have cross-functional platforms while hybrid apps do have a cross-functional platform.
Choosing the correct app base will help you develop the company in a progressive and long-lasting route.

4.Development

Now setting up a mobile app development company without reliable partners is impossible. Building a team of skilled and experienced employees is another essential element of setting up a company. For you to grow and establish as a promising company in the competitive market you need a team that would be your support for a long-lasting period. Their steady cooperation and production will help you to reach your desired company goal. Being an app development company you need experienced coders, copywriters, designers, photographers and other team members. However, being a start-up you can have few possibilities for finding required developers for your company.
  • You can recruit a developer permanently for saving up money. As working with one person than several developers would cost you more. Additionally, you can opt to hire outsource developers on a long term basis that will be a lot cheaper.
  • You can also choose to hire a freelancer from offshore services. This can lower your costs for the company. But there may be risks as the apps developed by the freelancer could have bugs. Henceforth, you need to be careful while making a choice for a freelancer.
This element could make or break your company if you don’t opt for the right decision in building a reliable team.

5.Monetization options

Your apps can take the shape of varied roles for your company. Gaining revenue off of it directly is the most obvious while others could be just by serving as a resource for the consumers. So what role do you opt for your app to play in the business model? You can plan and choose for different monetization models that can help you earn revenue directly off of your apps.                                                                                    Monetization model for developing apps  
  • Paid apps (premium) - This model requires the users to buy the app for them to use it. However, the implementation of the cost barrier upon such apps can mean that your app won't be the first choice to download for the users. Hence, it is important to develop a mobile marketing strategy to determine the supreme and unique value of your app.
  • Freemium apps - Apps included in this model are free for download. However, specific contents or features in the app would be barred to use. The user can access them only by purchase.
  • In-app purchases - This model operates by utilizing the app to sell physical or digital products as a commercial sales channel for mobile phones.
  • In-app ads - The small banner ads that appear while using an app is what we call in-app ads. This one is the most common model used by many app development companies.
  • Subscriptions - This model is quite similar to freemium apps. This can be a source of a regular stream of revenue.
  • Sponsorship - This model of monetization is only possible when you have gained a certain level of users. It permits you to collaborate with specific advertisers and brands.
It is significant for you to have a clear understanding of these models and monetize your app wisely.

6.Marketing strategy

Now you are all set to launch your app development company as you have gone through each vital element mentioned above. However, another pivotal element has remained untouched. This is developing a well-planned marketing strategy for your company's launch. In today's world, no one would bother to pay you attention until and unless you promote your offerings. Your company can be unrecognized in the crowd of several competitors in the market. So developing a marketing strategy is essential as any other element to establish the company. Creating a buzz and promoting your company is the only way to the top. Keep in mind that your marketing strategy should be such that it makes a great impact on the audience. Therefore, the creation of a unique brand and promoting them to the target audience is an essential strategy that must be adopted. So just get started, now that you know the essential elements that must be considered while developing an app development company. It does not matter where you want your company to be set these elements are pivotal to be applied by a budding app business developer. Whether you want to develop the mobile app development company India or in any other country, these steps will definitely help you to achieve success in the app development industry.

About the Author

Sourabh Sharma
I am an entrepreneur doing multitasking at any given point of time. One of my niches is working as a professional Writer where I share my views and opinions. I am very honest, sincere, and up-front blogger and jot down my unbiased opinions. In general, I prefer to write without being argumentative or contradicting anyone. To bash intelligence into some brains I might sound aggressive which is not at all offending, right?

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