The world today is shrinking faster than the ice caps melting.At the touch of a button of a mobile one can access any amount of data or any type of data that one wishes for.The new buzzword for the economy is Online Business and its development.Upcoming ventures have turned to online platforms as they are low cost start ups with high ROI value.
Now one can do business while travelling,in the gym,at home or any place of their convenience.All thanks to the portable mobile phone and its various applications.The key benefi of mobile applications is that they help to disseminate information faster and cheaper.So companies can target a wider audience and also tap the existing ones.A borad range of services and products can be deployed on mobile applicatoions like shopping,travel,music,communication and so on.
There are broadly two kinds of mobile applications :
- Ones for generating direct ROI
- Others built for Marketing,Branding or customer service
For instance, if a bakery shop does not seem to be having a good or consistent business.They can easily set up an online bakery store and in that way target new geographical areas while providing better services to the existing ones.The bakery shop could provide free home delivery with flowers on special occasion for specifc orders from loyal customers.For overseas customers they could provide themed cakes and pastries as per their festivals and upcoming events.Thus in this way they would be able to generate higher ROI as well as be able to market and brand themselves as unique or develop their own USPs(Unique Selling Point).
All the bakery shop would have to do is develop a new mobile application and maket it across.As per the ratio of mobile phone users in US,as a percentage of all mobile phone users,for the last quarter of 2010
- iPhone users – 6.75%
- Android – 7.75%
- Blackberry – 8.83%
- Total – 23.0%
The above figures indicate that there is a huge market which can be tapped using just mobile applications.In other words one can reach nearly five times as many people per dollar invested with a mobile application.