More and more companies are realizing the importance of having their own mobile apps to help them compete effectively in their respective industries. Despite this fact, it is surprising to know the huge number of organizations that do not understand how important the budgeting phase is in the overall life of their mobile apps. Very few people understand what it takes to build a fully functional and user-friendly app. Most are either misinformed or have a clear knowledge gap, which often leads to several budgeting mistakes. These budgeting mistakes could lead to the creation of a substandard product. Some of the top mobile app budgeting mistakes are highlighted here:
Thinking Mobile Apps and Websites Are the Same Thing
This may sound surprising, but a huge number of decision-makers in many companies do not understand what the differences between a mobile app and a website are. Some do understand that there is a clear difference, however, most of them still believe that they are quite similar.
Apps require more intensive backend infrastructure. They have so many moving parts that need to seamlessly work together to ensure the success of the greater whole. Your frontend, backend, CMS and third-party services need to be in sync. The more complex the project the more time it will take.
Plus, the limitations of mobile apps make them exceedingly more complex. From the limited screen space to the different user experience, apps need to be more to the point and deliver content faster. Otherwise, they will just get uninstalled and your users will forget about you.
Lack of a Marketing Budget
Most companies provide for the app development budget but fail to set aside some funds to market the app. They overlook the fact that once the app is up and running, people need to be aware of its existence in order to download it.
Tactica , an SEO and app development company explains “Marketing plays a huge role in the overall growth of the app. Apps are highly competitive, and chances that are that there are hundreds of other apps out there that do exactly what you do. You need to convince potential users to come to you and not go to the competition. This needs to be planned for from the moment the app idea is conceived as opposed to being an afterthought when you already have a working app”.
Your marketing budget should be in line with your company goals. What sort of revenue do you need to drive in say, six months? How will you measure your success? What sort of user engagement are you looking for? What Instagram content to publish to going viral? You need to have certain goals and work towards them.
Ignoring Backend Development and Service Integration
Most people assume that the app is only what they see: the pretty screens that users interact with and nothing else. The simple truth is that so much more goes into making a functioning app. For instance, apart from the UI that can be seen on the mobile devices, an app may have a content management system to handle settings, menu details, images, and text content, a cloud-based backend infrastructure API to handle business logic, and third-party integrations to handle analytics, chat, social media integration and user engagement through push notifications.
Failing to Think About Cross-Department Involvement
Mobile app development is a collaborative effort. Your developers cannot do it alone. For example, if you want to create a simple app for your business, you will need input from IT, engineering, marketing, sales, among other relevant personnel. It takes a huge team to pull off a successful app. Outsourcing the development to an external company does not change this fact. Your team internally will still have to be heavily involved. For example, you will still need to involve your marketing team to drive usage and monetize, and if you plan to have in-app marketing, your marketing team needs to be able to handle it.
Not Factoring In Customer Demand for Constant Updates
Mobile apps demand consistent delivery. Your users are demanding, and their wants and needs change over time. You need to constantly improve your app to meet your users’ expectations, and even exceed them. This is what will set your app apart. It is an ongoing approach and needs to be accounted for in the budget. Have an idea of how much you will need before you contact investors.
These are the main budgeting mistakes that companies make when it comes to mobile app development costs. Simply being aware of them is a huge first step towards properly budgeting for your mobile app. Knowing this will help you have a better footing when you contact investors with your app budget.
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