How Much Does It Cost to Develop a Mobile App?

It is now official that mobile applications are an integral part of everyday life, used by both business and individuals. Do apps cost money to build? Yes, they do, and it is lots of money, as much as hundreds of thousands of dollars. The majority of beginner app developers are curious to know how much it would cost them to develop applications.
How much does it cost to create a mobile app
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The Business Model

The business and revenue generation plans are at the very core of the mobile app development journey. Thus the revenue or the business model serves as the most significant determinant of the amount of money you will spend in developing a mobile app. The first question you need to consider before deciding on your budget is how much money do apps make? Once you have answered this question, you can then commit to your mobile app development cost from an informed point.
Second, you need to consider the platform that your target customers prefer. Is the revenue stream on this platform adequate enough to match your planned cost of app development? You do not want to commit a cost to create an app that will never reward your investment. Additionally, app development cost varies depending on the platform. Thus Android app development cost is different from iPhone app development cost even if the apps serve the same purpose.

Analysis of target audience

Before you arrive at the final budget for your app-building project, analyze your target audience to determine what they need. In other words, you need to determine the problems that your app will be solving.
It will be extremely difficult to make money from your app if there is no need for it in the market. As an entrepreneur, this is not where you would like to find yourself. After you have serviced the cost to build an app, you definitely expect the app to pay off in profits. Analysis of the target audience will assist you in estimating the cost of building an app by helping you identify the particular elements to commit the budget to.
Target audience analysis

What makes a great mobile app?

Mobile apps have taken over the business world becoming more popular than the traditional websites. This trend is largely attributable to the advantages of these apps over websites which include faster task performance, ease of personalization, use of device features, and push and instant notifications. This is however not to say that all mobile apps are great. Millions of mobile apps have been developed and released into the market. However, only less than 70% of such apps have succeeded in meeting the expectations of the users and developers. How then would you know a great mobile app? To answer this question, look out for the following aspects.

New app Ideas That Are in High Demand

A great mobile app is one with utility; that is it should fill some gap in the market. To secure utility for your app, ensure that it is built based on a new app idea which is in high demand in the market.

Great design

A great mobile app should have an outstanding design. Remember that the design of the app is not only about how it looks but also how it functions. First, you should ensure that the aesthetics of your app are top notch. The app’s branding elements should be both well thought out and executed.

The “sticky” factor

A great app is one to which users are attracted and feel compelled to revisit. This feeling of being compelled to comeback is referred to as the sticky factor. Creating a sticky app requires an utmost understanding of the needs of the prospective users of the app. If your app understands and considers the needs of its users, then it will definitely become the ‘go-to” tool for them to satisfy their unique needs.

How do we estimate the cost of app development?

Mobile app development begins with the estimation of the cost of creating an app. During this stage, you are simply trying to answer the question of what would the app cost to make? To accurately estimate the cost of developing an app, you need to know the components of the process to which you will commit a budget. Five key factors determine the average app development cost.

The first factor is the platform that you choose to target. The more platforms you target with your platform, the higher the cost of building the app would be. Even for apps that target single platforms, the cost would vary depending on the targeted platform.

The second factor is the app development model. The cost of making an app is influenced by the developmental model that you chose for the app. You can choose to follow either the waterfall model where you have a fixed set of features or the agile model where the features are defined as the app grows.
The third factor is the app design. The app design cost is an important component of the average cost of app development. An average design costs less to create than an impressive design.

The fourth factor that influences the final cost of building an app is the app features. The cost of developing an app depends on the features that the app will have. An increase in the number and complexity of the app features corresponds with an increase in the cost of developing the app.

The last key factor that influences the final cost of an app is the infrastructure. Except for standalone offline apps, most mobile apps require server components. The cost of setting app and maintaining such infrastructure is added onto the app development cost.

Estimating the cost of app creating

Things you can do to reduce the end cost of developing a mobile app

Developing a mobile app is costly both in terms of finances and time invested in the project. As a result, you want to reduce the end cost as much as you can to make the final return on investment worthwhile. Reducing the cost of app development without compromising the quality of the final product entails the identification of prevention of unnecessary spending. Some of the things you can do to reduce the end cost of your developing a mobile app include:

Only trust experts with the work;

Come app with a good business plan;

Be involved in the development process as much as you can.