Apps are growing at insane speeds at this age. The app economy is set to reach $189 billion in revenue by 2020, and with time spent in apps nearly doubling over the past two years there’s no denying the massive opportunity for businesses to expand their reach and tap into the app advantage.
Unfortunately, this growth creates perfect medium for myths to appear. In this article we will act as some kind of app mythbusters and try to bust some popular myths, that evolve around apps.
Apps are fun, but not “must have” thing.
Everyone knows, that mobile devices are in everyone’s pocket, but most businesses still think that apps are just an optional thing, that can be used for fun and can be made if budget allows it.
The truth is that today all businesses should be as close as possible to a customer at all times. Customers also want to reach their beloved restaurant or shop anywhere at anytime. In these mobile-first times, app is a must have thing in order to reach your customer and treat them with value.
No one download apps.
Some say, that app economy has reached its highs and downloads are declining.
The truth is in 2017, consumers downloaded 178.1 billion mobile apps to their connected devices. In 2022, this figure is projected to grow to 258.2 billion app downloads. As you can see, the number shows the opposite. On average, american users download 6 new apps per month.
Apps are for big players only.
Most people think, that app market are dominated by big players, such as McDonald’s, Facebook, Twitter and small and mid-sized businesses have no chance in this saturated market.
The truth is that everyone has to start somewhere. Even big brands had 0 downloads in their apps. This might be the case for you. Just try hard, believe and you will see download numbers going app and customers coming in bigger groups everyday.
Downloads mean success
A lot of people still thinks, that if app is downloaded by thousands of users, it means that it is successful. They assume that downloads are a measure of engagement.
The truth is nowadays usage is the new currency of success and average American spend well over 2 hours per day in apps. What happens after the download is what ultimately matters: Are users engaged, or do they download and dump? How much time are they spending in the app and how often? What’s your retention rate look like? These metrics can guide businesses to optimize the experience to capture more revenue and increase customer satisfaction.
Bots will overtake apps
The rise of bots brought forth the idea that apps are old news and chatbots are the “next big thing.”
The truth is – apps aren’t going anywhere. App Annie data shows that average consumers use more than 35 apps per month, and time in apps has nearly doubled over the past two years. Chatbots cannot compete with visual experience. Though bots and conversational experiences may play more of a role through integrations in time, they will not displace apps all together. Besides, you can use chatbots in an app.
Noticeable success of an app market makes it impossible to consider apps “optional” or “just for fun”. With technology and mobile devices taking over, you can no longer have an opportunity to not have an app for your business. By believing in the right way and destroying myths, your business could flourish.