Why mobile apps are critical for business growth
In the last decade, the definition of the “mobile app” has held many meanings. Today, it holds one more: growth. Mobile apps are critical to our day-to-day tasks, and so why should it stop at business? As my colleague Jake DiMare noted recently, mobile apps are becoming increasingly important for sales, and are expected to make up 45% of all e-commerce sales by 2021.
For this reason, and many more, it’s time to fully understand why mobile apps are critical for growing your business.
Why mobile apps are critical: the big picture
Overall, mobile app revenues reached a staggering $60 billion in 2017. With such a high volume of sales collected through this channel, it should be perfectly intuitive as to what the next step for your business will be.
Embrace these digital tools and lay down the foundation for your e-commerce platform. With mobile app data speeds and communication capabilities constantly improving, there are countless opportunities to transform your business landscape. To get you started, here are a few ways successful businesses in today’s market have been implementing this new technology:
- Hiring a computer over a salesperson. If you’ve ever been to your local farmer’s market, then you’ve seen this one. Credit card processing apps like Square enable small business owners to take their stores on the road, allowing them to engage with every type of customer. No one wants to be the cash-only tent, and this transcends the farmer’s market environment.
- Saving huge on paper and supplies. Apps like Evernote have been out for a good while now, but they have continuously provided an incredible way to create, manage, and share your company’s important files and images. Of course, a lot of these processes can also be achieved with Google Drive, which is also a great alternative.
- Taking the office online. If your company fits the “lean startup” description, then apps like Slack are perfect for you. Slack gives you the ability to completely translate your office into digital space. With all the bells and whistles, it offers an unparalleled team communications platform that is perfect for unclogging an office inbox. Easily send updates, messages, and files to your colleagues, all from within the Slack platform.
Why mobile apps are critical in transforming payment collection
Mobile applications have become increasingly more popular over the past few years, but not just for entertainment platforms like Snapchat and Instagram. Now, you can use the apps on your phone to effectively streamline business processes.
Google recently announced that it would take a different approach to its mobile app sales. The technology giant is merging its Android Pay and Google Wallet platforms to create one easy-to-use brand: Google Pay (or G Pay, for the trendy).
This integration combines both platforms to give their customers a more effective, effortless, and confusion-free method of purchasing products and services online. The new brand already has a few big name adopters, including Airbnb, Fandango, and Instacart.
With this move, Google hopes to streamline the payment process for many of its partners, allowing for overall enhanced consumer experience.
In particular, one of Google’s SVPs gives us a better sense of what the benefits could look like for companies like Fandango:
“Google Pay provides a simple, intuitive option for Fandango customers to speed through checkout with just one tap . . . We look forward to working with Google as they grow this exciting new payment platform” – Mark Young, Fandango SVP of Global Strategy & Business Development.
Given Google’s clear intent to build this payment platform in years to come, it’s a no-brainer as to why mobile apps are critical for future business growth.
The implications of mobile app 5G speeds on business operations
Going deeper, at this year’s CES convention, plans were revealed for the introduction of 5G wireless speeds for mobile devices.
While you can already guess this update will bring us faster connection speeds, it also bears a secret weapon: connectivity to smart devices, especially vehicles. With these new speeds, you can link your mobile device to any smart home or vehicle, and be able to control it remotely. This implies huge opportunities for businesses, especially regarding their operations and logistics.
Imagine if you could keep track of your transportation vehicles as they ship cargo from points A to B. You could see how much is being delivered when it’s going to be delivered, and how secure cargo is during transport. This could also work well from the consumer side too, allowing for real-time monitoring of their shipped goods.
With companies like Amazon and Walmart already investing in Tesla’s innovative line of autonomous semi-trucks, there’s a clear push for businesses to embrace these new methods of transportation. For this reason, it’s critical to consider the potential mobile app capabilities for the future of transport.
Getting up to speed on how mobile apps can transform your business
Keeping up with mobile app capabilities and other powerful digital platforms has always been a priority for Luminos Labs.
If you’re still on the fence about how mobile apps can offer you clarity in achieving your business goals, then we’d love to get in touch with you. Luminos Labs has successfully advised countless organizations on effective technology implementation strategies. Please don’t hesitate to contact us, and remember that there’s no cost or expectations associated with initial consultations.