Creating a budget for your mobile app is important because it helps you and your business stay on track. Not every app developer can evaluate each aspect of the app, especially the cost involved. This post gives you a brief overview of how you can prepare a proper budget for your app.
How to Identify the Purpose of the App?
One of the best places to plan the budget is to first identify the main purpose of your app. Let’s analyze some of the more obvious ones.
- You want to help your customers place an order at your store/website with an app. A good example of this would be Amazon, Wal-Mart, and Etsy.
- You have identified a unique money-making opportunity and you need an app to cash in on it. Examples include Uber, Airbnb, and Doordash.
- You want your clients to easily engage your customer service team members via an app. Examples include the McDonald’s App.
If you need a rough estimate on the development costs, talk to a professional app developer. You can also use our online calculator to get an idea about the costs.
How to Choose the Right Platform for App Development?
As a general rule, the more platforms you develop your app for, the costlier it will get. You can save costs by targeting the most relevant platforms for your target audience. For instance, there’s no use building an app on Android if your customers primarily use iOS. Moreover, it’s more complicated to develop on Android due to the level of optimization needed for each device.
If you’re running out of ideas, survey your customers to identify the devices they commonly use. It is also worth your while to check in with your competitors to see their target platforms.
Which is Better: In-House Development or Outsourcing?
The answer to this dilemma depends on your goals and specific circumstances. Outsourcing and in-house app development have their own pros and cons. For the most part, you should choose them based on your own unique requirements. In-house development makes it easier to closely coordinate with your team and give them instructions. Additionally, you can directly instruct your team about new features in real time.
It is worth noting that in-house development involves software licenses, salaries, employee benefits, and more. Your next best option is to hire an app development team on a project-by-project basis. This is an economical move since you won’t have to deal with salaries anymore, and finding appropriate software is no longer your hassle.
Of course, you won’t be able to closely coordinate every step of the development process and this is where project questionnaires come in. They let you quickly fill your new team in on project briefs. In fact, experienced app development teams like the one at NS804 will work closely with you to build your app. It helps to think of us as an extension of your in-house team.
How Costly Are the App’s Features?
It’s time to identify which features have to stay and which need to go. Run a comprehensive market survey of your potential customers along with their needs and pain points. You should have a list of features that are must-haves and nice-to-haves. For starters, most apps should cover the basics such as integration with third-party platforms, social networks, and in-app purchases.
Create an MVP to Cut Costs and Estimate Future Profits
If you’re working on a shoestring budget, consider building a minimum viable product (MVP) instead. There is no need to go into in-depth animation and complex UI/UX design. For now, it is important to get the app off the ground to gauge demand for it. Don’t sacrifice user experience! You’ll also get an idea about your projected profit and estimated income.
Building an app is an on-going process that requires a lot of time, energy, and effort. There’s usually no cookie-cutter approach to app building and no cut-and-paste template to work with. You’ll also need to set aside some budget for maintenance and regular updates.
If you’ve decided to build an app, then get in touch with the professionals at NS804.