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  December 30th, 2022 | Written by

The Cost of Building a Mobile App for your Business in 2023

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The digital landscape is changing rapidly, partly driven by the increased use of mobile devices. Smartphones are now used by half of the world’s population. This represents nearly 4 billion smartphone owners worldwide. These tech-savvy users are looking for quick and alternatives to do everything from banking to shopping on their phones. Mobile apps are a vital way to connect with this potential market. 

Mobile application development is a process that involves several activities, tasks, and processes. It’s more complex than putting some code together and saying you’re done; many different parts are involved in developing an app. And while the exact cost of mobile app development differs from one app development company to another, there are generally standard cost ranges associated with this process. 

What is the average cost of developing an app?

The exact cost of developing an app varies from project to project. However, you can expect the process to cost from $30,000 to $150,000, and when the project is more complex, you might have to pay even more than $300,000.

The vital thing to remember is that the cost of developing a mobile app isn’t just about the money. It is also essential to consider what you get for that money and the likelihood that your return on investment will be positive.

Why is the cost of developing an app so variable?

The cost of developing an app vary due to several different factors:

  1. The type of App you are developing will directly impact the price. Certain types of apps will cost more to build than others.
  2. Applications with complex features requiring more effort may cost more than those much more straightforward in terms of features and requirements.
  3. Developing products focusing on UX (User Experience) is a strong trend in different sectors. Thus, factors such as the choice of functionalities and their ease of use, organization of information, visual identity, and the structure as a whole define the quality of the mobile application and also impact the cost.

Next, you need to consider the company you work with to build your App. Not all businesses are created equal; some will be more expensive than others. It is also necessary to consider the region where your company is based, since the cost of living in some areas, such as São Paulo, is higher than in others.

From one order to another, the price of a mobile application can change completely. Indeed, if you have a very ambitious project requiring the intervention of experts, the estimate will inevitably increase.

For a high-level application, it is necessary to bring together developers, project managers, designers, or even strategists. So many trades and skills that weigh on the price of the application. However, the more money you invest in your product, the more likely you are that it will eventually become profitable.

Remember the post-development costs.

Post-development costs include all expenses from the moment the development phase of the application is completed. For example, there are annual fees for registering the mobile application on the Apple Store and Google Play. The costs are relatively different, depending on the blind chosen. Indeed, it is enough to pay $ 25 in one go at Google, while Apple asks for $ 99 each year.

Moreover, like websites, an application must work on its reference if it wishes to have visibility. Therefore, depending on the store (Google Play or Apple store), optimizing the application to appear in the first place will be necessary. To optimize the ranking criteria and position yourself in the first place, hiring mobile SEO specialists will be essential.

Finally, for an application to be viable, designers must regularly update it. It is also necessary to allocate a budget to the maintenance of the application to avoid users complaining about it, which could seriously harm it.

Now, while you are aware of the several factors that impact the cost of development, let us see if there’s any way to keep the costs under check.  

Reducing mobile app development costs with MVP

The Minimum Viable Product (MVP) is the pilot of a digital project. Its function is to test and evaluate the product’s viability – in this case, a mobile application.

In MVP, a minimum set of functionalities is presented to the user, containing only those essential to reach his objective with the application. From there, users’ opinions are collected to identify where the software can improve and what needs to be developed.

The objective is to accelerate the launch of a solution in the market, save time and money, and of course: identify the real opinions of users on how the launched application can be even better. Therefore, the chances of the product meeting consumers’ expectations are more significant with this initial project.

In this step, it is possible to determine and reduce the necessary production time and the costs involved in the budget.

Steps involved in developing a mobile application

App development is a very detailed process. Many different activities need to happen before an application can be created. Here are some of the key activities involved in app development:

  • Discovery and Planning: The discovery and planning phase involves understanding your project needs. This is where scope and risk management comes into play. Risk management is essential because you want to be sure to create a solution that is both viable and within budget.
  • Ideation and design: Once the requirements have been gathered and the project’s scope determined, the conception process can begin. During this phase, visual mockups are created to outline the application’s design.
  • Development: This is the phase where the application is created.
  • Deployment and testing: This is the phase where the application is launched and made available to the public.
  • Monitoring and maintenance: This is the phase where the App is monitored to ensure its correct functioning and any bugs or problems are immediately corrected.

Estimation only: Tasks involved in developing an app

The best way to get a cost estimate of developing an app is to create a list of all the tasks involved in building it. This will allow you to determine how much it will cost to develop your App and will make it easier to find a company or development team to work with.

You can then break down the tasks you’ve listed and assign an estimated cost to each. Remember, this is just an estimate, so make sure you budget for unexpected expenses.

Take the following steps to check the viability of a mobile app

  • Plan your product

List differentials, competitive advantages, shortcomings, and objectives. Finally, create a value proposition.

  • Identify your user

Create personas, and map their behavior, desires, and usage journey. Identify when and where she will use your software.

  • Define the product

Knowing the user and their pain establishes the minimum and priority features for reasonable use of the product.

  • Develop the application

Choose a team with skills to create and develop guaranteed quality solutions.

Wrapping Up

Our post aims to support startups and enterprises in developing innovative and robust mobile applications at an optimum budget. 

Now that you know what to consider while calculating the budget for your app project, it is time to hire a dedicated mobile app development company that can offer the fuel required for your company’s digital transformation.