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An Analogy of Types of Mobile Apps and Which is Best Suited for Your Business

types of mobile apps

Apps or applications have become a part of our daily lives over the past decade. Applications are programs or software that run (usually) on smart devices and have a specific purpose.

The term “app” has become so popular that Microsoft decided to stop using the word “programâ€� from Windows 10.

mobile app development for business

A good example of an app or app name would be a shopping app — such as Amazon. You could access it through your laptop browser and also through the dedicated app. It is the same for the New York Times, Accuweather, and at least a million more names. However, not all smart device apps have a browser-based counterpart.

If you own a business and have decided to go digital, you would want to launch an app sooner or later.

At the stage of conceptualizing, you would run across three types of mobile apps – Native, Hybrid, and Web.

This blog aims at demystifying the terms and making you acquainted with the pros and cons of each type of mobile apps.

Native, Hybrid, and Web – Three Classes of Apps

Native Mobile Apps

Native apps are designed to work with a particular operating system. The world of mobile computing is largely divided into two OS platforms Android and iOS.

A Native app designed for one of these would not work on another. Not only would it not work, but it also cannot even be installed.

If the Native app is designed for Android, it will use Java, and for iOS would use Swift and Objective C. Windows phones used C#, but that is an outdated OS.

Most of the apps that you use are Native apps. They have been built using the platform SDK (software development kit).

Native SDK is, without a doubt, the best platform for app development until now. The SDK provides necessary direction to a coder with tools, libraries, sample code, parameters, and self-use guides.

For example, Google gives the Android Studio a very capable IDE with a code editor, compiler, and debugging tools packaged into a single-window system.

Advantages of Native Apps

  • Since they are designed using platform IDE, they work faster and seamlessly. This causes fewer app crashes.
  • A Native app can use the hardware, compass, GPS circuitry, GPU in a more productive manner.
  • A large part of the app framework is preloaded. Only the current data is fetched from the net. This also allows the app to work offline if it does not need fresh data. You can continue to listen to the currently loaded page of a meditation app such as Headspace even if you are in a subway tunnel.
  • Native apps have a more natural navigation flow. This is because developers are using the same libraries in different apps. Most apps have the same layout. Developers tend not to spring a surprise in this department because if a user is uncomfortable, they will uninstall the app.
  • They are able to provide better visual output and maintain aspect ratio. There are no misplaced icons or sudden changes in font size.

Disadvantages of Native Apps

  • Effectively the same app has to be designed twice, once for each OS. Each following version also needs two sets of coders for simultaneous release. This is more expensive, especially for a small business.
  • Native apps require visiting the official app store, finding an app through search or ratings, and downloading it. Thereafter one has to sign up and log in. This makes installation a lengthy process of 10-30 minutes, depending on network speed.
  • The app development process is, to a large extent, controlled by the OS since the SDK and IDE are proprietary.

type of mobile app development

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Web-based Apps

Mobile Web apps are not full-fledged applications. They are not completely installed on the OS. Rather they use a mobile browser (Chrome, Firefox, Opera, and others) for several functionalities.

On the whole, a mobile app looks very similar to a Native app. It mimics a simplified menu compared to the full-fledged website that runs on a laptop and uses very few system resources.

They have grown in popularity as HTML5 has made Flash redundant. Flash was not made for mobile OS except very ancient versions such as Symbian used by Nokia back at the turn of the century.

To make it look and feel like a Native app, browser navigation is not visible, and both vertical and horizontal scrolling is enabled.

Web app development has now evolved into PWA or Progressive Web Applications. Twitter and Pinterest are the most well-known examples of Progressive Web App development.

Advantages of Web-based Apps

  • They cost far less. This is the principal advantage. This is because they are being designed for browser-based usage and do not need the huge amount of coding that Native apps require. There is no need to develop a separate version for each OS.
  • PWAs do not need a frequent update. This is because the update features can be added to the backend, and the browser would fetch the new version.
  • PWA is SEO sensitive. Any clicks made in the app count towards user engagement. Since SEO is what makes or breaks a digital business, it is an important contribution indeed.
  • PWAs are increasingly app store independent. They can be found via a simple search or even social media. Being free of the app store ecosystem gives a business owner greater independence in running subscription-based services.
  • They are light on resources. PWA apps use less RAM and are popular in regions where budget smartphones are used. They also save battery. Most PWA apps can run on very little data.
  • Due to the use of HTML, an app owner has greater access to manpower. There are plenty of HTML coders, but few are experienced in Swift.

Disadvantages of Web-based Apps

  • They do not have an appealing look. A PWA cannot access the contact list or camera. The overall UI lacks sophistication. Unless the brand has huge name recognition, a PWA cannot be successful.
  • PWA is unable to use critical features such as hardware acceleration. This makes the app quite basic, and at most, it can fetch information and display the same. But often, an app is required to do much more, render complex graphics, and even perform extensive calculations (such as video games). PWAs remain rudimentary till now.

mobile app design

Hybrid Apps

These have tried to tap into the advantages of both Native and Web-based apps. They rely on a browser, but the app comes with browser access baked into its code.

Hybrid apps such as Uber are usually single-page app and look remarkably like their website counterparts.

Advantages of Hybrid Apps

  • The reason Hybrid app development has become popular is the reduced cost of development. There is only one set of code to be written.
  • At the same time, unlike a PWA, a hybrid app allows greater access to system functions such as a camera and microphone.
  • Hybrid apps do not use the native SDK but allow reasonably high-level emulation.

mobile app code

Disadvantages of Hybrid Apps

  • Hybrid apps use an embedded browser known as webview. The webview variant of the browser is not as efficient as the original browser. This affects app performance. The UI is most often bland and unexciting.
  • In theory, the same Hybrid app works on both Android and iOS, but in reality, the differences between the OS and the way they allow browsers to run shows through. To make the app smooth on both these platforms require an investment that is comparable to Native apps.

How to Select?

This would depend on a number of parameters – cost, purpose, time to market, manpower availability, and necessary scalability.

If you are running a small business, it makes sense to go for a PWA app. Your upfront costs are less, and you could get an initial response of the market to your idea and find what needs to be fixed. Thus a PWA can be used as a prototype for full-fledged Native app development.

App development is complex, and you would need to perform a SWOT analysis to find which app type offers you the best bang for your buck.

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How to Start Monetizing a Popular Website or App

monetizing your website

Your business or your personal brand may be focused on creating a popular website or application. The idea here is to generate users or generate interest; you might encourage people to read your blog frequently because you offer fantastic, in-depth posts, or you might have an app that makes people’s lives easier in some crucial way. Here is how to start monetizing a popular website or app

In any case, making an app or website popular is a challenging, multi-step process. But translating that popularity into a consistent stream of revenue is even more challenging. How can you take a popular online asset like this and effectively monetize it?

Monetization in a Nutshell

Monetization is a term that refers to the simple process of making money from something that didn’t make money before. If a person walks dogs for fun, then begins to charge money for their services, they’ve essentially “monetized� the service.

This is an ambiguous term, but it’s ambiguous for a reason; there are dozens, if not hundreds, of ways to monetize a popular website, app, or other online service. Generally speaking, if your channel is popular enough, you should be able to monetize it.

How Popular Is Popular Enough?

How popular is popular enough? That’s going to be different for every app and website; it depends on the nature of your audience, the specific appeal of your content, and of course, the monetization strategy you choose. If you’re selling a major service to wealthy clientele, you may be able to make money with just a handful of leads and sales. However, if you’re interested in monetizing the data you collect from your users, you’ll need a base of hundreds of thousands—if not millions of users to do this effectively.

In any case, if you have thousands of regular users, you can definitely count on being able to monetize effectively. You may be able to do it with just hundreds of regular users.

Monetization Options

Let’s take a closer look at some of the most popular monetization options available to websites and apps today:

  • First, you could consider displaying advertisements on your website or app. You can tap into one of many different advertising networks to do this, with Google Ads being one of the most popular. Generally, you’ll earn a fixed rate for every click your app generates; for example; you might earn $0.50 for each ad clicked by one of your users. Advertising is reliable and relatively consistent, but it also depends on your audience being a match for the ad content. On top of that, poorly placed or “spammyâ€� advertising can weaken the average user’s experience.
  • Affiliate linking. Alternatively, you could set up an affiliate linking system. The idea here is to include links to various product pages across the web; if one of your readers clicks an affiliate link and buys the product, you’ll get a share of the revenue—like a commission. This is tricky to pull off with small audiences since the commission tends to be small, but with a large enough fan base, you can make significant income this way.
  • Paid access. If your app or website is valuable enough, you may require payment or a paid subscription to access it. This can be a source of steady, significant income, but only if your content is seen as truly “worth it.â€� This is tricky to pull off since so many modern apps and websites are completely free to access.
  • Premium features. You may choose to adopt a “freemiumâ€� model, wherein the core content is free, but users have to pay for additional features. For example, they may have the option to pay for an ad-free experience, or may get access to additional tools to use the app more effectively.
  • Transactional fees. Though this is mostly for apps, you may be able to impose small transaction fees. For example, if your app functions as an online marketplace, you could take 10 percent of every purchase made on the platform.
  • Extra content. If you have a popular blog, your readers may be interested in paying for “premiumâ€� content—like an extended eBook. Just make sure you offer plenty of opportunities for conversion throughout your site, and price your premium content fairly.
  • Additional services. Depending on how much time you have and the nature of your brand, you may be able to sell additional services as well. For example, if you’re a blogger who’s an expert in a certain field, you may be able to teach, coach, or consult with readers who want a more personalized experience.
  • If your blog or app is popular enough, you may be able to make money through merchandising. Selling shirts, mugs, calendars, or other items with your logo on them could function both as a direct revenue stream and as a secondary form of advertising.
  • Data monetization. If your audience is large enough, you may be able to monetize the data you gather from them. For example, you may learn about the buying habits of a specific target audience, then sell that cluster of data to an advertising company that wants to learn more about that audience.

Can You Monetize in Multiple Ways?

As you can see, most of these monetization strategies have strengths and weaknesses. You may be interested in using multiple monetization strategies simultaneously, allowing them to compensate for each other’s flaws. There’s generally nothing wrong with this; however, you’ll need to make sure that stacking monetization strategies has no measurable negative impact on your average user’s experience.

Choosing the Right Strategy

Whether you’re investing in one or several monetization strategies, how can you be sure that you’re selecting the right tactics?

Consider:

  • Your target audience. First, you need to think about your target audience. Not all people will be okay with advertising, and not all people will pay $5 for an eBook when they can get blog content for free. Different audiences have different desires.
  • The core experience. Next, consider the core experience of your app or website. This is what made your asset popular, so you shouldn’t compromise it. How will your monetization strategy affect the average user experience? Will it make it better, worse, or keep it the same?
  • Number of users/scale. Some monetization strategies only work if your audience is sufficiently large. How popular is your app currently, and how far can you scale it in the future?
  • Long-term plans. Where will you be taking this app or website in the future? Is the core experience or user base going to transform?
  • The competition. What monetization strategies are your competitors using? If your competitors find success with one strategy, you may consider adopting it as your own—or you may try to deviate from them to differentiate your brand.
  • Potential profitability. And, of course, you should consider the potential profitability of each strategy. How much money do you stand to make by adopting this?

The Importance of Measurement and Analysis

Additionally, you’ll need to carefully measure and analyze the results you get from your strategy. This is a business, and there’s no guarantee it’s going to be successful. Only by objectively measuring your results will you be able to definitively determine whether your monetization strategy is actually making money.

If the strategy isn’t making money, see if you can figure out why (and correct the error). For example, if people aren’t clicking on advertisements, is it because you’re displaying ads that aren’t relevant? Or is it due to poor positioning? Experimenting with the variables and measuring the differences can help you figure this out.

Conclusion

Monetization strategies can help you make money from any app, website, or other online asset that’s sufficiently popular. Choosing the right strategies can be difficult, but if you invest in the right techniques and consistently improve with the help of ongoing measurement and analysis, you can build something both profitable and sustainable.

Image Credit: mayofi; pexels; pexels

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6 Effective Ways to Use Short Video for Social Marketing

Short video apps are on the trend currently. After the ban of Tiktok in India, so many social platforms for short videos came out.

For example, Instagram has introduced the feature “Reelsâ€� of showcasing short videos. I really like an app called Doston to make short video clips. It’s good at offering amusing, trendy, and entertaining content.

However, if you have thought that short videos are only for fun, then you probably need to change your view.

Because short videos can be informative, they can be used to represent a business, and as well as used for multiple purposes.

And if you do not know how many other ways you can use short videos, then you’re in the right place to find it out.

Here are the six ways in which you can use short videos for social marketing effectively.

  1. How-To Videos

    how-to-video-doston
    Source: pexels

YES, it is possible to make “how-to” videos in 30 to 60 seconds.

If you are good at making food or decorating a food plate, then you can catch the eye of thousands of users.

It will be a kind of real quick video in which you can create a healthy meal by showing step-by-step instructions; you can also give the voiceover in it.

Follow your passion because you can get loads of traffic by putting that kind of video on platforms like Doston, Instagram reels, etc.

You can do it using the inbuilt editing features in many apps that you can find in the app store — or look up a vid on YouTube that will teach you how to add visual effects and magical filters.

2. Product Unveiling

how-to-videos-for-marketing
source: Pexels

If you want to showcase your product, it would be great to create a 30-second clip to show whatever you are selling.

Whenever you are demonstrating your product, you don’t have to be overly promotional.

You have to convince your customer so that they can buy after watching your video. So keep it up to the mark, simple, and clean.

Remember that you do not have to solely focus on explaining the product, but you also have to emphasize what kind of benefits your viewers could get after spending 30-60 seconds on your video.

3. Behind The Scenes

behind the scene video for marketing
source: Pexels

Creating short videos of behind the scenes is a fun way to let your viewers see the people behind the business or show what is going on behind closed doors.

People want to see funny stuff more and behind the scenes is the best to get engagement and gain attention.

Wondering what could be your behind the scenes?

The scenes could be anything like your office tour, personal things, funny content, (think: a funny photobomb, and do that in your vid — on purpose.

4. Show Off Your Skills

show off your skills for marketing
source: Pexels

You can go master in showing off your skills by posting the real quick short videos.

You can create and edit your videos in it with its inbuilt editor that will help you to make more polished content.

It offers loads of features like easy editing, add music, quick downloads, and more that would help make your best short video.

5. Event Showcase

behind the scene video for marketing
source: Pexels

If there is an event around, many brands will share the relevant content in your industry.

For instance, if you post a video on your site related to a particular event like a holiday, and if your video has the potential, it will be more likely to be shared around other media networks especially by friends and family.

6. Share What You Have

share what you have for marketing
source: Pexels

You are not required to be more creative or professional — you just want to share what you are good at doing and creating.

Professional videos look fantastic. However, to make an impact you don’t need a huge budget. With basic props and ordinary objects, you can do spectacular stuff — take a look on YouTube at the Holderness family vids — hilarious.

Some of the best short videos are not focused on the design and animation of big budgets and they are the ones using everyday objects.

Also read: 5 best short video app

Top Image Credit: anna shvets; pexels

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Why are Enterprises Moving to Instant Messaging? Top Conversational AI Platforms for 2021

conversational ai platforms

Not so surprisingly, people today are more active on messaging platforms than on conventional mediums like on Email or call. According to the Gartner report 2021 Planning Guide for Customer Engagement, Enterprises and SMBs need to focus on the adaptation of cloud-based AI-driven technology to drive the effectiveness of self-service.

Today, more than 2.1 billion people use Facebook, Instagram, WhatsApp, or Messenger every day. WhatsApp recently announced that it had in excess of 2 Billion users — the majority of user reside in India.

Messaging platforms are popularly used to interact with acquaintances, particularly friends, family, or co-workers for informal and formal interactions.

If you’re in Indonesia, you’ll notice meeting updates and other annoying details of it are shared on WhatsApp. It is also customary for your cab driver to connect with you on WhatsApp. Business and ease, all mixed up on a messaging platform.

While a large number of media companies and marketers are still investing in legacy platforms like e-mail and ticketing systems to engage with employees and customers, here are some noteworthy points that will potentially change the game:

  1. Monthly Active Users (MAU) on messaging apps like Whatsapp, WeChat, etc are massive and this number is growing rapidly due to the ease of availability of data and devices.
  2. 66% of consumers want to interact with brands on messaging apps (The app of choice depends on geography). People believe this is a faster medium to get immediate resolutions – Twilio
  3. Initially, the messaging apps were focused on increasing their user base. More recently, we’ve noticed that new features such as payments and even a built-in NLP capability have been added so the apps can standalone.

Regardless of the device used, Android or Apple, people prefer to keep limited applications on their smartphones since it is cumbersome to keep switching from one channel to another. Take, for example, the Facebook Canva which is a landing page facility used by marketers inside the Facebook app. It disallows drop-offs that may be caused during the transition from Facebook to an external website for the sake of lead capture, thus reducing a step in the user acquisition journey.

Messaging apps are becoming vital for businesses to better connect with prospects, offer seamless support, and provide quick service.

Companies also use enterprise messaging apps like slack, hangouts, etc to better manage their employees. Employees can schedule meetings, apply for a holiday, request reimbursements, and more with the help of a virtual assistant.

Organizations have to modernize not just their customer engagement technology but also the way the team interacts, to not only keep up with the customer expectations but also to adapt to the “new normal� of distributed customer service teams. Modernizing both customer and agent capabilities is key for those organizations to reinvent themselves or rescale to new heights.

The benefits of automation reflect almost immediately and dramatically. It is estimated that by 2025, 10-15% of jobs in three sectors (manufacturing, transportation and storage, and wholesales and retail trade) will have a high potential for automation. There is a good deal of automation firms today working on groundbreaking technologies to build chatbots beneficial for the growth of enterprises. Particularly, we’ll take the following 4 popular players in the field and put down some key features they possess and lack.

#1. IBM Watson

Named after IBM’s first CEO and founder, Thomas J Watson to answer queries on the quiz show Jeopardy, Watson was created as a question answering (QA) computing system. It uses advanced natural language processing and machine learning technologies for fetching information, knowledge representation, and automated reasoning, to the field of open domain question answering. Watson has been one of the earliest to automate various business functions however it is missing some of the most crucial integrations today, for example, Microsoft teams, slack, and even WhatsApp. The support for multilingual languages and the capability of sentiment analysis to route to an agent when necessary aren’t provided either.

Humanizing the bots today is one of the important features that people say conversational AI lacks. With missing capabilities, enterprises that need to jump off the books will have to consider their options.

#2. Yellow Messenger

Yellow Messenger is a cognitive engagement cloud, offering various cognitive business functions like customer engagement, customer support, enterprise automation, and HR management. They have a range of channel integrations from Whatsapp for business, Google Assistant, Alexa, to Slack, PowerBI, and more.

With multi-lingual support, pre-built contextual response, prediction modules, self-learning systems, and many other sophisticated, proprietary tech, Yellow Messenger has successfully catered to clients across the globe. Founded in 2016, in Bangalore, India, Yellow Messenger is a horizontal platform that takes on unique use cases for businesses. Recently funded by Lightspeed venture capital firm Yellow Messenger aims to utilise the funds for developing better products and sourcing new talent.

Also, named the leading Conversational AI Platform in Gartner’s 2021 Planning guide for Customer Engagement.

In light of the COVID-19 pandemic, Yellow Messenger has also launched a chatbot in association with the National Health Authority to distribute the right information about the virus.

#3. Intercom

Founded in 2011 in San Francisco, CA, Intercom has come a long way in building customized bots for various companies focused on targeted answers. They helped House Call Pro grow from the time of its launch to 10,000+ customers today. Expensify, another client of theirs, found improved support and sales. Similarly, Baremetrics increased their billing by 30% with intercoms innovative products.

Conversational AI is transforming the way brands interact with consumers. Which process according to you, can be automated in your organization to save your expenses and maximize growth? Comment below.

#4. Dialogflow

Dialogflow by Google, initially called Api.ai and Speaktoit, was best known for its virtual assistant created for smartphones. While their voice assistants are supported across a bunch of devices ranging from wearables to phones, their language support is limited. It lacks self-learning capabilities. It cannot search the database for answers to queries for resolution. With their new chatbot release, Meena, we hope to see a wider spectrum of competence since it is open-sourced. Meena boasts to be the very first humanized AI.

2020 was a crucial year for AI. Automation will truly take off and conquer cubicle jobs in 2021. It will save a tremendous amount of revenue and time for organizations. How will you use automation to solve pressing business problems? innovatively?

Image Credit: tim samuel; pexels

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How to Use Mobile App Analytics to Clearly Understand Your Customers’ Needs

mobile app analytics

Do you know what your mobile customers want and need? Today’s customers are more impatient and less tolerant of anything that gets in the way of their buying experience. Companies’ rapid increase in developing mobile apps is for their consumers — to provide a seamless customer journey. Here is how to use mobile app analytics to understand your customer’s needs.

Downloading your app is only the first step users take and it doesn’t necessarily mean more business for your company.

Focusing on providing a positive and seamless buyer journey is the key to more conversions and higher sales. If you want consumers to use your app, be sure it addresses their concerns or needs. Use mobile app analytics to optimize your customers’ experience.

Customers expect convenience and faster access to information than ever before. They demand instant access as well as the ability to explore options from wherever they are. Companies must design smarter apps to provide the data necessary to understand user behaviors and optimize processes.

To meet these needs, the fields of mobile and web development are growing rapidly. The U.S. Bureau of Labor has forecast that the developers’ job market will increase by 15% by 2026. If you need to hire someone to create your app, you might want to start searching for a good dev now.

What Defines a Successful Mobile App?

The number of installs, clicks, and ratings play a significant role in your app’s success. However, it is more critical than users clearly understand your apps’ main value proposition.

For example, fintech stocks have become extremely popular during COVID-19, as many people turn to day trading or various forms of online trading to supplement their income. To do that, they need a mobile trading app. If you want your app to be successful, it must be clear how it is superior to all the other competitors.

Look for indications that potential users are arriving from comparison posts like this one or online reviews. Also, look for visitors who exit to visit comparisons or reviews. If this type of content impacts your app’s success, you may need to focus on improving your app’s online presence.

You can do this by contacting the authors and giving them additional information about your app, making it easier for users to review it or encourage other content to be written.

Another example is the use of apps in the healthcare industry. During the pandemic, patients can communicate with and even have telehealth visits through mobile apps.

Both these examples require strong trust signals and security options, or people will not use them. Use your mobile app analytics to improve if you see indications that people are abandoning your app over trust issues.

What is Mobile App Analytics?

The process by which data is analyzed and measured about users to gain insights into how they behave is known as analytics. Mobile app analytics refers to the same process, except the experience takes place on a mobile device. They play a crucial role in helping brands understand how their mobile app is working for prospective customers.

Also, mobile web analytics can help you identify areas or steps that need improvement. The buyers’ journey consists of multiple data points that can be examined to determine where users interact with your app.

Review app analytics

Review your app analytics to find the answers to the following questions:

  • What is the total number of users who download the app?
  • Of those who download your app, how many are currently active users?
  • How many new or active users engage and interact with your app?
  • Of all the features of your app, which are used the most and used the least?
  • What parts of your app do users have the most issues with, such as UX glitches and technical issues?
  • Which channel generates the most valuable and maximum number of users?

Why Use Mobile App Analytics?

Creating an app requires you to spend a lot of time and resources. If you think users will immediately find your app, download it, and start making purchases, you are kidding yourself. Without mobile analytics to understand how consumers interact with your app, you are just guessing or assuming you know what potential customers want, need, and expect.

Reviewing analytics provides invaluable insights to make the necessary improvements to your app. Use the information you gather to devise actionable steps such as adding, removing, or improving an existing feature and changing the app’s flow if the data you collect supports it.

Mobile analytics will also enable you to audit your advertising campaigns and identify which metrics provide the most success.

Which Metrics are Useful?

You can use several metrics to improve the user experience and your app’s performance. Therefore, it is critical to identify your key performance indicators (KPIs) to know which metrics should be your focus.

Single metrics can be combined with others to get more information about the customer journey. Below we will focus on specific metrics and what you can learn from them.

There are four main types of trackable mobile app metrics that we will describe in more detail below:

  • Acquisition
  • Engagement
  • Performance
  • Satisfaction

Mobile App User Acquisition Analysis

The first step in an app user’s buyer journey is to download it. The data derived from user acquisition analytics gives you information about how users find your app, the most popular operating systems, devices used, and the total number of new users.

Below are specific metrics that measure user acquisition.

App Attribution Metric

See how you acquired your users and whether they found you organically or through paid advertising. The attribution metric lets you track the sources that lead users to your app.

Measure how your campaigns are performing to determine which are worth investing in and which are not.

For example, set up a link to a campaign you are running to track who:

  • Sees your app
  • Taps on it
  • Installs the app
  • Purchases your app

where users interact with your app.

Use the data gathered to see which channels and campaigns provide the best returns and deliver the worst. Focus your resources and time on the marketing initiatives that are bringing in the best results.

Average Revenue per User (ARPU)

This metric shows you the amount of revenue, on average, generated for each active app user. Use it to measure how close you are to hitting your target revenue.

To calculate ARPU, divide the total revenue generated in a specific time, such as a week, month, or quarter, by the total number of active users during the same time frame.

For example, if your app generated $600 last month and you had 6000 active users, the ARPU would be $.10. This metric’s value is to help determine the ROI of your campaigns and calculate the lifetime value of your users.

Look at the ARPU trends over time to evaluate your pricing structure and adjust it up or down depending upon the data you collect.

Be sure to track ARPU in conjunction with other metrics such as total revenue and the ratio of Lifetime Value (LTV) and Customer Acquisition Cost (CAC) to get more reliable results.

If you have a subscription app with no other in-app purchases, there is no need to calculate the ARPU because the subscription price predetermines it.

Customer Acquisition Cost (CAC)

See how much money you spend to acquire a new customer from getting their attention to getting them to make a purchase. Calculate CAC by dividing the total cost of a campaign by how many buyers it brought in.

This metric lets you calculate ROI. It is critical because it enables you to identify the best performing and most cost-effective methods of acquiring new users.

If you see a reduction in new customers, you should use this metric to track and optimize your ROI. Spend more time and resources on the campaigns with the lowest acquisition costs.

Lifetime Value (LTV)

LTV refers to how much you expect a user to spend before they stop using your app. It is also known as churn or attrition rate.

This information is vital because it lets you know long a user needs to remain active before they generate their maximum revenue.

You will also get an idea of how much you can expect to make from your app. Focus on optimizing the user experience to identify where and why people stop using your app to increase LTV.

Metrics for User Engagement

There is not a single metric to measure app user engagement. How users engage with your app and what activities they perform determines the success rate. Below are the most critical measurements to assess user engagement.

The Number of Downloads and Installs

Getting a substantial number of downloads plays a significant role in your app’s success and is the first step in the buyers’ journey.

However, keep in mind that just because someone downloads your app does not mean they will install or use it.

The more downloads you get, the better chance of broadening your active users’ base, so this is still considered an important metric.

Tracking and understanding installs’ source enables you to evaluate your advertising channels’ effectiveness and your marketing campaigns’ efficiency.

Event Tracking

Event tracking provides insight into each user’s in-app experience. Use the analytics to see exactly what each user is doing while they are using your app.

For example, you will see which button users click on each step of your funnel. Use the information you collect to obtain actionable data to improve your app’s performance and user experience.

Some of the critical in-app behaviors to measure include:

  • Which pages or steps they visit
  • What they purchase
  • Which stage of your funnel leads to a sale
  • How often a user adds an item to their cart
  • Whether users complete their purchase or abandon their cart

Understanding how users interact with each stage of your funnel will identify which steps are losing users and which need to be optimized for less attrition.

Tracking Sessions

A session is when a user installs, opens, and engages with your app. The session data lets you know how often users open your app and their progression through your funnel.

Look at the sessions by location, time, and device. These metrics will show you when, how, and from where users access your app.

Get an idea of how many sessions, on average, it takes for a user to complete a purchase.

Churn Rate

When a customer or subscriber does not renew, cancels, or stops using your product, it is referred to as customer churn. The churn rate shows you how many of your users have abandoned your app. It could be that they are no longer using it or uninstalled it. The app churn rate is a vital metric that enables you to determine LTV. It also allows you to identify the funnel’s reasons nd steps where users lost interest in your app.

For example, if you see a high churn rate occurring after installation, your onboarding process could be cumbersome, or there might be a technical issue you need to address.

High churn rates might also indicate that your outreach and marketing initiatives are not attracting the right audience. If you find that users are dropping out after using your app frequently, try to re-engage them with incentives and other personalized messaging.

Retention Rate

The app retention rate is a companion metric to churn. It measures how many users continue engaging with and returning to your app. Higher retention rates equal more revenue. The longer your users stay, the more value they add to your business.

The average consumer has numerous apps installed on their phone. The number and usage of apps are increasing at a rapid rate, as seen in the statistics below:

app usage

The longer consumers use your app, the more opportunity there is for it to be successful. Therefore, retention is a crucial metric. Your app must be more than intuitive and usable. It needs to offer users what they want and need. Use analytics to identify where users drop off.

Look at daily, weekly, and monthly tracking data and compare it to the marketing campaigns running simultaneously—track user retention metrics to identify precisely where users are dropping off in the buyers’ journey.

App Performance Metrics

To grow and be successful, use your mobile app analytics to gain valuable feedback and insights. How your app performs from a technical and marketing perspective relies heavily on metrics and analytics.

Use these metrics to identify any roadblocks that interfere with the quality of the user experience.

Load Speed

Everyone today is in a hurry, and no one wants to wait, especially for a slow application to load. Test your app to ensure it only takes a few seconds or risk users abandoning or uninstalling it.

Screen Resolution

The screen resolution metric is more useful for Android apps than iPhones because they come in various resolutions and sizes. iPhones have a limited number of models.

When you know which resolutions are more popular amongst your users, you can focus more on quality assurance for that resolution.

App Crashes

Crashes measure how often your app abruptly closes while a customer is using it. Ideally, it is best to test during the development process to identify issues before you go live.

Study your crash reports to see exactly at which point the app crashed and what caused the problem. These reports are essential for identifying technical issues, testing, and fixing your app.

Operating Systems and Devices

See which devices and operating systems your target market uses. You can use this data to offer more personalized offers.

App Latency

The time it takes your app to request and receive a response from an API is called app latency. It is as important as speed and requires regular monitoring to ensure short wait times on multiple operating systems versions.

Be sure that your APIs are optimized and follow best practices on the server-side.

User Satisfaction Metrics

Satisfied and happy customers stay, but more often, and make recommendations to friends and family. Below are several metrics to identify your users’ level of satisfaction.

Heatmaps

Heatmaps will show you which areas of your app funnel are getting the most interactions and which are getting the least. Use this information to add features that are more engaging to the area receiving less traction.

App Reviews and Ratings

App ratings and reviews are the easiest and quickest method to get feedback from your users. Many consumers look at how others rate an app before deciding to download it.

Reviews play a critical role in how your app is ranked. Keep in mind that people are more likely to share negative feedback than positive ones. It is just human nature.

However, even negative feedback can be a source of learning by improving your app and user experience. Do you best to keep your users satisfied and happy by providing a seamless customer experience.

Net Promoter Score (NPS)

The NPS metric is a scoring system that quantifies how much a user likes or dislikes your app. Responses are usually graded on an 11-point scale from 0 (not likely) to 10 (extremely likely). It is also a customer loyalty metric. NPS measures how likely a customer is to recommend your company to a friend or family member.

You can use the data you collect from the NPS to direct your marketing campaigns, improve your app’s performance, and increase customer satisfaction.

In-App Feedback

In-app surveys can provide crucial data about your users without the need for them to leave your app. There are several ways to collect feedback from your users, including contact forms and surveys.

Use Mobile App Analytics to Your Advantage and Follow Best Practices

Both large and small companies benefit greatly from creating a mobile app. There are plenty of mobile app-making software options if you want to create your own.

Your business will reap the rewards of creating a mobile app for your customers by:

  • Providing your customers with more value
  • Connecting better with your customers
  • Building a stronger bond
  • Boosting profits

Get a better understanding of your app user’s journey from the metrics discussed above. Use the data you collect to make informed decisions to improve the customer journey and generate more revenue.

Below are some mobile app analytics best practices:

  • Test on as many devices as possible
  • Give priority to the app onboarding experience.
  • Use the data from your app analytics to try new initiatives.
  • Improve conversion rates by using A/B testing

Do not waste your time on metrics that do not matter to your goals. Identify the measurements most aligned with your business objectives.

Use the data-driven analytics you capture to understand customer behavior, predict likely market trends, and align your marketing initiatives with your customers’ expectations.

The post How to Use Mobile App Analytics to Clearly Understand Your Customers’ Needs appeared first on ReadWrite.

Categories
accounting software Apps CRM financial modeling Microsoft Excel Sales Software

Attention Overload: What Makes Some Software Tools So Sticky [+Some Examples]

There are a glut of software tools, mobile applications, websites and learning portals.

The quality spectrum of these tools is as broad as the tools themselves and the industries they serve. It could be safe to say that the Pareto Principle applies to software applications as much as it does to business in general.

In fact, studies show that the average smartphone user only really uses about 30 apps per month. From my personal experience, even that statistic sounds high.

The overabundance can be overwhelming and cause more than attention overload, it can create counterproductivity that flies in the face of most apps’ intended creation (Facebook, Instagram & Tiktok excluded, of course).

The best and most sticky software products have a few things in common.

Features of the Most Prevalent (& Sticky) Software Tools

I chose this title carefully. There is a reason the most prevalent (& sticky) tools also include the best features (or is it the other way around?). Having great features (and perhaps the right marketing for ample market penetration) typically produces greater market acceptance, which helps provide the revenue to add more features–and the cycle repeats. Here are

  • First (or early) mover advantage. I’ve been told many times before that “first mover advantage” is a misnomer. It is often NOT the first mover that has the advantage, but the first mover combined with several other gritty features can be very helpful. If not the first mover, it certainly helps to be early. Do you think Microsoft Excel was the first spreadsheet. Hardly, but they were still early in computing (and they owned the platform for distribution). Were they the best at first? No, but they were good enough and they came included, which means it was hard for others to compete. Could you imagine trying to create your own “me too” spreadsheet company today with the likes of Google and Microsoft as your competitors. Early movers enjoy the advantage of market penetration and entrenchment, which is difficult to surmount even for a subsequently superior product.
  • Industry agnosticism. The best tools can be used across industries. Spreadsheets (can you tell I like them?) are used by churches and financiers alike. Every company has projects and therefore could possibly use project management software. Most larger organizations include a sales team and customer accounts that need to be tracked, charted and reported and hence need a CRM. The most prevalent software products are used across industries.
  • Pain points prevented! The best and most prevalent products prevent pain points (alliteration unintended). Does it save an organization ample money (not just in the cost of the product directly by in the product’s indirect association to productivity increases)? Today’s up-and-coming software products provide money saving related to disintermediating human intervention through automation. Massive productivity gains equate to large increases in revenue or decreases in overall cost structure. In most cases, such productivity gains help free up time for the higher-functioning tasks that make organizations flourish.
  • Developers unite! Yes, all the great platforms include a community where new ideas and opportunities are created to bring fresh ideas and better ways of doing things. Kanban operations are built on the idea that quality comes from continuous improvement. Nowhere is this more true than in the software market. Things are always in a state of flux and change. The best platforms are truly platforms where outside developers can create an actual community of contributors where existing models and methods are questioned and where new practices help to push a growing ship of ideas and code forward. Platforms are just one of the reasons why the future of software development is not customization in the true sense.

My Most Frequented Tools & Apps

What follows is likely atypical from most mobile and internet users. I deleted the Facebook, Instagram and a handful of other apps on my phone several years ago, so my most frequented apps may sound more like those of a boring, bean-counting accountant than most. However, I try to stick to applications, websites and tools that include features that add value and time-saving to my life. With kids, family and other healthier distractions than work, I can’t afford to waste time on the trivial.

ExcelTraining

I’m a big fan and regular user of all things Microsoft Excel. As such, I need a regular quick reference for things like hotkeys, functions and other quick-fixes for all things Microsoft Excel. While I have several websites I frequent for reference, my one bookmarked site that garners the most attention is ExcelTraining.com. The site includes things like an easy to navigate list of keyboard shortcuts, an exhaustive list of Excel functions and a complete list of Excel formulas. As my proficiency has increased I find myself referencing it less frequently, but my desire to stay current in Excel keeps me coming back for the simple list that is easily referenced.

The site also has paid options which I have never used. I’ve found that the more ubiquitous the product, the more easily free information is available to you on YouTube or elsewhere. Excel is something even the basest of individuals working in business should have a keen awareness of. Hence, a good reference for the basics is always a great help and a must.

Asana

When it comes to remaining productive, Asana is my hands-down favorite app for project management amount teams. It works for nearly any project. I have personally used it in managing content marketing projects, preparation for raising growth capital, software development, website development and even personal project management where a larger project can be broken down into discrete chunks. It’s been especially great at managing projects run by remote teams (both before and after COVID-19).

I also don’t call out Asana lightly. I have used other project tools like Basecamp, Jira and even hybrid-communications tools like Slack. I just find Asana to be my personal favorite.

SalesForce

If there’s one software tool that have a good proficient and overabundant understanding of it’s customer relationship management (CRM) tools. I’ve worked with numerous other paid and open source CRMs. Some of the open source ones like SugarCRM and X2CRM include very customizable fields and sections, marketing automation tools and email/calendar integration. However, the downside is the lack of commercial support, backups and overall integration with other applications. In one of my businesses, we also use Outreach.io, an email and contact automation tool that ties directly into SalesForce. It is a productivity game changer for our sales and marketing team whose equal is not yet available on any of the open source platforms.

Salesforce also includes added applications (some free, some paid) and the ability to develop, enhance and customize to a company’s individual needs.

Quickbooks

I’m a finance guy at heart. I like the numbers and thrive off the analyzation of how to improve them. Quickbooks collates all our companies’ financial data including accounts payable, accounts receivable, credit cards, Paypal, bank accounts, etc. Not only does it bring together all of our financial data. Netsuite needs an honorable mention here as well as it can combine more ERP management into the financial side of a business–something entirely lost on the SMB audience with Quickbooks. As such, the financial tools used for financial accounting and reporting are heavily dependent on the size of the organization and the ultimate goals of the data you need to make critical business decisions.

Conclusion

The features that may be important to one may be entirely lost on another. Some may be more interested in marketing tools, while others are drawn toward finance, the arts and even mobile games. I have always gauged the stickiness of a software product with the following queries:

  1. Does the product have a real commercial need?
  2. Does it add value to the user?
  3. Does it delight (or better yet, entertain) while doing 1 & 2?

If you get the first two, you have a winner. If you are able to nail all three then you have yourself a market leader and a sticky product that is not going away anytime soon.

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Apps make a social media app making an app ReadWrite

How to Make a Social Media App

how to make social media app

Does the open need another web-based media application? That is one of the consuming inquiries on the startup authors’ brains when they ricocheted making one.

Evidently, TikTok has reacted with a reverberating yes. The quickly developing application has gathered more than 800 million clients worldwide without any indications of halting.

Facebook, with more than 2.4 billion dynamic clients in 2020, despite everything, stands out that likewise comprises of the accompanying:

  • Instagram
  • Snapchat (lanars.com)
  • Linkedin
  • Twitter

Normally, the elevated level of commitment likewise prompts high income from publicizing and different sources. In 2019, Facebook recorded a yearly income of $70.7 billion, a record for the web-based media goliath.

Based on how rewarding the online media industry can be, it’s just regular that more new businesses join the fight. Nonetheless, not all online media applications end up being wild triumphs. Many battled to increase even a little division of Facebook’s traffic.

Frequently, the applications neglected to interest general society as there aren’t clear focuses that separate them from the set up web-based media stages.

Here is the manner by which new companies can assemble a superior web-based media application without any preparation.

Stage 1: Identify The Right Product/Market Fit

The possibility of an item/market fit focuses on the situation where new businesses are conveying the correct item that reverberates with its objective market. New companies ought to leave on a bit by bit cycle to address clients’ issues.

When constructing an online media application, new companies ought to be adaptable with their methodology, as the last item that turns into a wild achievement can be not quite the same as the first thoughts. Organizations like Instagram and Twitter discovered accomplishment by persistently adjusting until they found the correct item/market fit.

New businesses can likewise gain from how Whatsapp changes from a basic device for setting status to an out and out courier simply after Apple presented message pop-ups. The thought is that an online media application needs to develop consistently dependent on factors that impact client practices.

Finding the correct market and target crowd during the beginning phase can be overpowering. Nonetheless, new businesses can depend on a demonstrated system, where the application is intended to focus on a specific gathering. When the application shows accomplishment for a gathering, a similar methodology is duplicated for another.

Stage 2: Gain Competitive Advantage With Market Research

Building an online media application isn’t tied in with coding and conveying the application to end-clients. An extraordinary aspect of its prosperity is expected to completing statistical surveying properly. Before building the application, new businesses need to evaluate their rivals, especially on procedures that take them to the top.

With an inside and out viewpoint of the market, new companies are in a superior situation to offer a novel item that fills existing applications’ worth hole. Another application must have an exceptional recommendation, rather than being “simply one more application” in the serious market.

Stage 3: Get Better Perspective With Target Audience Research

New businesses must get input from their intended interest group for their interpersonal interaction application. The cycle permits new companies to join highlights dependent on the genuine inclinations and practices of their crowd.

As opposed to arranging an application on simple suppositions, new companies should hold coordinated meetings with clients. This permits originators to have a superior thought of the issues and work towards an answer. The early cooperation with existing clients additionally assists with building a prepared base of endorsers for the application.

Meetings can likewise be supplemented with strategies like structure persona and customer journey map (CJM). Persona creation is a viable strategy where the clients’ ordinary attributes are conceptualized in an impromptu methodology.

A CJM assists new businesses with recognizing the clients’ conduct and gather information for improving the application. A viable CJM, for the most part, contains the persona, course of events, activities, and desires.

Stage 4 – Choose A Profitable Business Model For Your App

Finally, an online media application should be generally welcomed by clients and can possibly be beneficial. This implies it’s essential to pick a plan of action that empowers long haul development while keeping income in your sights. Here are some well-known plans of action usually utilized in online media applications.

Option 1 – Freemium Model

The freemium model permits clients to pursue free with a considerable lot of the fundamental highlights accessible. In any case, admittance to premium administrations is just accessible for paying individuals. LinkedIn, a web-based media stage for experts charges an exceptional expense for admittance to instruments like InMail and employment coordinating assistance.

Option 2 – Advertising Model

Numerous web-based media depend on publicizing for income. Applications like Facebook and Instagram depend on this model. The system is quick to develop the client base and utilize an information-driven way to deal with target clients with applicable promotions.

Web-based media applications need to gather individual data like age, sex, area, and interests to be appealing for sponsors to be effective. Obviously, traffic volume likewise assumes an essential job in how publicists are happy to pay for publicizing on the stage.

TikTok, which gloats more than 800 million dynamic clients, permits different types of commercials, including astute embedding-supported recordings on its ‘For You’ feed.

Stage 5 – Engage With a User-Friendly and Intuitive Design

This is the place new companies should place all the information from the prior investigation into great use. The client experience will decide the achievement or disappointment of new online media applications. New businesses must have a decent handle of client desires and tailor the application in like manner.

Kindling, a relationship application by coordinating that matches clients by photographs, used to do as such by restoring the best matches dependent on profile. In 2019, Tinder redesigned its calculation to associate clients who are dynamic simultaneously. The move is to keep clients from squandering endeavors tapping on profiles that are not, at this point, dynamic.

Toning it down would be ideal undoubtedly. New businesses ought to guarantee that the application is outwardly engaging, just as useful. A jumbled and disarranged design will just mood killer possible supporters. Rather, new companies need to concentrate on the gathering that could be utilizing the application and offers esteem included highlights.

The thought is to assemble a computerized environment that satisfies each gathering that draws in with the application.

For instance, Facebook has nailed it with its online media channel for shoppers; however, it additionally gives exhaustive instruments to distributors, content makers, and publicists.

Stage 6 – Build a MVP to Quickly Test Ideas

An MVP or least practical item is the application’s uncovered skeleton, including just the essential highlights expected to work. It’s an incredible method to permit new businesses to test the market in a less muddled condition.

New companies dodge the danger of running into numerous specialized issues that accompany the apparent multitude of highlights on the application. Additionally, clients get the opportunity to evaluate an application that is less jumbled.

How do new businesses choose what highlights go into the MVP? Start by posting the fundamental highlights that are pivotal for the application.

If startup originators experience issues in picking highlights for the MVP, they can use the prioritization grid. Highlights that are ‘pleasant to-haves’ can be remembered for the item guide to be executed later.

Pro-Tip

Test the setup, utilize cases with an iterative and gradual turn of events. This permits the application to be tried, and input got for the separate pieces of the applications.

8 Mandatory Features Of Any Social Media App

While online media applications by and large objective covering socioeconomics, each intrigue with their extraordinary offer and use cases. For instance, TikTok’s fan-put together are sharp concerning fun recordings, while Instagram is enormous with “way of life” influencers.

Despite the distinctions, a few highlights are compulsory in any online media application.

Sign In and Tutorial – Allows clients to join with different alternatives, for example, email and secret phrase, Facebook, or telephone enlistment. Regularly incorporate an onboarding instructional exercise once the client has made another record.

Client Profile – True to its social nature, the application ought to give clients space and devices to make customized profiles and how they expend the substance.

Content Feed – Users are normally coordinated to the substance feed, where they are locked in with customized content dependent on their inclinations.

Search – The inquiry work is convenient for clients to rapidly find gatherings, substance, individuals, and other data on the application.

Chat Chat is fundamental, paying little mind to what’s the focal point of the application. Having a visit courier permits clients to associate with text, voice, photographs, or recordings.

Content Creator – Content is the thing that drives web-based media applications. Clients must be furnished with the instruments that permit them to share their encounters in text, photographs, or recordings.

Push Notification – With web-based media being important for a day by day life, message pop-ups are helpful to alarm clients of occasions like messages, responses, and new substance that they might be keen on.

3rd Party Social Network Integration – Chances are, the client will be dynamic in 2-3 online media applications. It causes the application interface with an outsider online media system to encourage content sharing and development.

Stage 7: Gather Feedback To Refine Your Social Media App

Propelling the online media application is only the initial phase in making an effective item. The subsequent stage includes gathering client criticism on the MVP. Client criticism is a useful pointer of what’s missing and what’s working in the application.

Given the client criticism, new businesses should constantly extemporize to guarantee that the following delivery lines up with clients’ practices and needs. At this stage, new companies should depend on the investigation to anticipate patterns and practices all the more precisely.

Note that extemporization is a ceaseless cycle as the application must be tuned to suit the elements that drive client practices.

Conclusion

Taking the possibility of an online media application to an effective dispatch requires steps of arranging, criticism, and impromptu creation. Each progression referenced above is urgent to the achievement of the application. Converse with our group to study making an online media application.

Image Credit: tim bennett; unsplash

The post How to Make a Social Media App appeared first on ReadWrite.

Categories
AI Apps digital payments

7 Creative Uses of AI in Digital Payments

ai in digital payments

AI or Artificial Intelligence is known for streamlining processes securely, but when it comes to the digital payment solution, AI goes beyond streamlining and offering security. AI brings automation and enables users to monitor online payments. It’s interesting the jot down seven highly amazing uses of AI in the payment industry.

How AI Transforms Digital Payment Industry?

  1. Neural Technology Works Wonders

A self-driving or autonomous car is no longer a new concept, but have you ever thought that the technology used behind a self-driving car can be used in finding fraudulent card or loan applications? Yes, the neural network technology or Artificial Neural Network (ANN) is the technology behind the autonomous car. It imitates the human brain and has played a vital role in finding the stolen identities from the Equifax data breach and other incidents.

ID Analytics has launched a new fraud scoring system for new applications based on convolutional neural network technology. It is a much-advanced version of the existing system and provides banks or financial institutes with indicators on whether the fraud attempt is done from a first or a third-party source. The neural technology creates a 3D model of the person’s data that includes the address, phone number, and transaction history.

  1. Bot Attacks become Reality

The Fintech industry becomes more dependent on AI technology with every passing day. Whether we talk of enterprise-focused banking apps like Chime and Wave or AI-based chatbots that facilitate the users to get personalized notifications on spending and investments, the AI technology gains traction among entrepreneurs.

Here we are pointing toward the flip side of machine learning and AI bots. Fraudsters utilize AI-powered bots to commit online fraud that becomes a big challenge for various industry sectors including the travel industry. The travel or tourism industry witnesses various types of online and offline fraud attempts especially during the holiday season. Many criminals want to exploit the situation arises because of the surge in travel volume.

Many cybercriminals use bots to reserve seats on flights to cause a wrongful increase in the price of unsold seats. Travelers and tour companies have to witness various challenges arising due to the fraudulent use of bots.

  1. Payments and Social Media Fusion

After seeing the dark side of AI, let’s go through an exciting opportunity for a digital payment solution. Yes, it’s a fusion of payments and social media. Facebook, Alibaba, and several other companies have made the most of fusion by bringing payment solutions through messenger apps. Amazon has now followed suit by working on a messaging platform known as Anytime.

We can certainly expect that the term “conversational commerce� will gain ground in the fintech and eCommerce segments alike over the period. Days are not far away when conversational commerce will be broadly adopted by people across the world. Chris Messina has already predicted the bright future of conversational commerce back in 2016. Consumers will utilize all means like chat, messaging, and even voice for making online transactions. AI technology will play a crucial role in making this possible.

In the near future, the lines between the human agent and a computer bot will be blurred as the users will not find the difference between them thanks to the advancing AI technology.

  1. AI Bots on Facebook Messenger

Financial companies and banks have gradually started deploying AI-based bots on Facebook Messenger to handle payments and offer personalized customer services. American Express (AmEx) is one such company that has a dedicated chatbot on Messenger for sending transaction notifications and benefit reminders to users. Every time the user buys anything, the dedicated chatbot sends a notification regarding the transactions.

Another version of AmEx chatbot enables users to add a card while linking an AmEx account to the user’s Facebook account. The card’s credentials are then stored with the user’s Facebook account to facilitate them to transact on the social network. We will have more intelligent and powerful AI bots in the future that will perform various tasks on Facebook Messenger and other social media channels. Simply put, the presence of AI bots on Facebook will boost the concept of conversational commerce.

  1. AI to Make Users Financially Healthy

This is one of the biggest benefits of AI. A fintech startup Douugh has developed an AI-based virtual assistant to help its consumers regain financial health. Sophie, as Douugh has named it, can assist consumers to reduce their credit card debt and student loan while enabling them to make better savings decisions. The virtual assistant also runs diagnostics on the financial positions of customers and manage their spending goals while handling payment-related tasks like bill payment and track payments. In a way, Douugh has made a giant leap toward offering a smart bank account to its customers.

AI technology is designed to analyze the user’s or customer’s behaviors and making predictions. When it is implemented into the fintech sector, it keeps on analyzing the data regarding the customer’s spending pattern and saving habits. In a way, it can help users maintain a subtle balance between the loan and deposit while making them financially healthy. In the coming years, many fintech companies and the BFSI sector as a whole will leverage the benefits of AI technology to provide 360-degree financial solutions.

  1. Bot Turns Banker

Singapore’s largest bank DBS has utilized the concept of conversational AI to take the customer experience to a new level. This approach enables the bank to manage customers’ accounts and facilitates them to initiate payments. The bank has taken enough care to make the interactions natural so that its customers do not realize that they are talking to a bot and not a human being.

Kai, the AI-powered bot of DBS can do more for the bank’s customers as compared to agents in customer centers. For example, if the customer asks about the amount, they spent on groceries last month, the agents might take some time to get the data, but Kai gives answers immediately.

Many other banks will also come up with robust and reliable bots in the coming years. On one hand, such bots will relieve the pressure on bankers, and on the other hand, customers can get improved services on a 24/7 basis.

  1. AI Makes Stores Intelligent

It’s time to make the walls and ceilings of your brick-and-mortar stores. Shanghai’s self-driving supermarket Moby has actually implemented this futuristic approach in which the supermarket ‘recognizes’ customers through a mobile app. What’s more, the store is solar-powered and it has a holographic greeter as staff.

Though this concept at its nascent phase, it has a vast scope and it offers a lot of opportunities for the retailers. Talking about the reason why Moby store has experimented with this concept in Shanghai, the store wanted to maintain a retail presence in the areas where the economy cannot support a permanent grocery store. Here, though the AI technology takes care of the customer service and delivery process, the autonomous store, help from humans is still necessary to return unsold items to a warehouse.

Amazon Go is a more efficient example of a concept store. It has sensors throughout the store instead of holographic greeters. Sensors can readily detect what customers are purchasing and which payment method is used. In other words, AI-based sensors simply collect and analyze the data related to the user behavior.

In a nutshell, AI is a game-changer in the digital payment industry.  As technology gets mainstreamed in the sector, we will have innovative and creative uses of AI technology.

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Categories
AI Apps artificial intelligence in mobile app development

How to Use Artificial Intelligence in Mobile Apps

ai in mobile app

Artificial intelligence is one of the biggest trends in the app development industry. AI is slowly pouring into every routine activity of ours whether it’s education, production, medicine, or economics through mobile apps. Here is how to use artificial intelligence in mobile apps.

The troubles and complexities with AI are decreasing and the ease in functioning is increasing with the advancement in technology.

Artificial intelligence in the mobile app is one such technological innovation which is emerging in recent times. The mobile app has not left any nuances to integrate as their trending feature and AI is gaining much popularity

Here is the global market revenue of artificial intelligence prediction reports according to the research of Statista.

Year Market in Million US Dollar
2016 3221.8
2017 4819.11
2018 7345.35
2019 11283.76
2020 17267.75
2021 25995.68
2022 37987.17
2023 53231.4
2024 70971.51
2025 89847.26

The market for AI is in a very good position and is about to boom high in the upcoming years. The stats clearly show it. This is one of the major factors why top mobile application development agencies are upgrading their skillset and their apps and equipping them with AI developers and AI-enabled apps.

There are numerous reasons why AI is becoming people’s favorite. It offers benefits to tech giants and local users.

Benefits that Artificial Intelligence Offers

1. Neural Networks

One of the interesting things about AI is machine learning. Machine learning comes in great use for technologies like forecasting or voice synthesis, automotive, aerospace, financial market like real estate valuation, mortgage, credit counseling, and military use like recognition of signals, images, and autopilot.

All of these functions are easily carried out by neural networks. Neural networks or what we popularly call Machine learning are present and used by all of us in our day today.

Here are some of the common uses of machine learning:

  • When we draft the mail, there is automatic address recognition and mail sorting.
  • In banking, the automatic check reader, automatic voice recognition, and signature authentication system are due to neural networks.
  • Smart symbols and agents in computer games.
  • Automatic face detection and focusing on digital cameras.

Also, Google and Microsoft both have upgraded their translation apps with neural networks. They have released new AI-powered offline language translator apps for iOS and Android.

Neural network algorithms have proved to be more effective and availed users with offline working capability.

2. Learn User’s Behavior Pattern

When machine learning and natural language processing are combined, it offers a realistic interaction based on the user’s likes. Based on the users likes, technology can study user behavior and their pattern to provide them with exactly what they are looking for.

Having this feature in the mobile app will give users a very personalized experience.

Netflix is one of the popular apps which have integrated this feature to track and collect their user’s data. Based on this data, they give content recommendations to them. Mobile app users definitely like getting what they want without having to search for it.

3. Offers Conversational UI

The conversational UI feature is a great addition for better communication. It offers the liberty of interacting with computers on human terms. Speech recognition is not a very new concept but the conversational user interface makes communication robust.

Generally, management and finance apps integrate this technology and interact with their users through voice or text messaging. The AI technology also analyzes payments, balances, spending, and most probably to give the best financial recommendations to the users.

4. Offers Automated Reasoning

For improving productivity, this is one of the important AI technologies to install in the mobile app. The best example to fit this scenario is Uber.

Uber, a taxi booking app is using automated reasoning to get the nearest route to drop the users to their destination faster. The automated reasoning collects data from all the cab drivers who have taken trips to a similar route and know from the trips.

5. Completes Monotonous Tasks Rapidly

It’s really boring and frustrating to do the same tasks repeatedly at the job. Well, with AI these monotonous tasks get completed easily and quickly. Doing the same tasks repeatedly kills creativity and wastes time and resources.

When Artificial intelligence enters in such tasks, users have time to invest their time to do something innovative and solve some real-time issues.

6. Accuracy and Perfection

Artificial intelligence is one of the best ways to get speedy output with accuracy and perfection. The chances of mistakes are lesser in every sector where AI is implemented. A small numerical error can make a huge disaster. With AI, such errors get solved and

Top 8 AI Technologies used in Mobile Apps

1. Speech Recognition Technology

One of the most popular AI technologies used in mobile applications of the voice control system is speech recognition. Take an example of Siri and Cortana, they decode and convert human speech into a format that a computer understands.

Plenty of mobile app development companies integrate this functionality into their apps and make it compatible with the latest AI trends.

2. Chatbots

This Artificial intelligence feature is of great use when it comes to developing business apps. It helps the companies to interact with people who fill the feedback form or inquire about the company while visiting it.

Chatbots are the virtual assistant for the company answering user’s questions. Popular companies having virtual assistants include Apple, Amazon, Artificial solutions, Google, IBM, creative virtual, Microsoft, satisfy, and many more.

3. Natural Language Technology

If you are looking to develop an app for customer service, natural language technology is the apt AI technology to integrate. Apps for creating reports and market reviews need this AI technology into their mobile apps

4. Machine Learning

It is one of the most popular AI technologies integrated into the majority of the apps. For corporate, having an app with machine learning is very important.

The machine learning technology is extremely useful for classification and forecast. So, if your business involves forecasts, having an ML-based app helps a lot.

5. Biometrics

Biometrics is an AI technology that identifies, analyzes, and measures human behavior. It can recognize the physical aspects, structure, shape, and size of the human body.

The biometric AI technology also knows the voice, gesture control, and sensory recognition. Biometrics is mostly used in marketing and research.

6. Emotion Recognition

AI provides another interesting technology that allows reading human emotions from their face. The emotion recognition tech uses advanced image processing or audio data for emotion recognition. This allows capturing human senses with voice intonation and subtle speech signals. This technology is extremely popular among startups.

7. Image Recognition

Image recognition is a great addition to mobile app development. Image recognition technology depends on the process of detecting any object in a digital image or a video. This technology also identifies license plates, analyzes clients to check users by their face, and diagnoses diseases.

8. Text Recognition

This is also called natural language processing which allows the user to find all the relevant information you need in the news, search engines, and structure solid texts. At present this technology applies in the fraud detection system and security.

How to use Artificial Intelligence in the mobile app?

You need to decide the AI technology or feature you want in your application. Here are some of the ways you can integrate AI in a mobile app.

  • Optimize the searching process of the mobile application.
  • Integrate audio or video recognition in the app.
  • For learning behavior patterns of the app users.
  • Create an intelligent and friendly digital assistant.

Wrapping Up

Artificial intelligence has paved its way in app development. It is not going anywhere anytime soon. So, if you are going to develop a new app, you better equip it with artificial intelligence.

It is the best way to get new users and keep the existing users engaged. It tracks user behavior and entails them with a personalized experience.

FAQs

1) What are the best AI features to have in an app?

Here is the list of trending AI features to have in a mobile app:

  • Chatbots
  • Machine learning
  • Deep learning
  • Big data
  • Neural network

2) Why should you integrate AI in mobile app development?

One of the best reasons to combine AI in mobile apps is because they track user behavior and show relevant suggestions based on the collected data. Every app requires a loyal user base to be successful and AI helps in achieving that.

3) Which are the best AI apps? 

  • Siri
  • Cortana
  • Google assistant
  • Alexa
  • Elsa

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Apps covid-19 Health Play Sports

Javelin Sports Makes Returning to Sports Games COVID-19 Friendly

Javelin Sports Makes Returning to Sports Games COVID-19 Friendly

Javelin Sports announces the launch of its new Health Checklist feature on their mobile app. In the wake of the COVID-19 global pandemic, sports clubs and teams are struggling to safely return to sport. For that reason, Javelin Sports has integrated three new features into its sports management app: health screening, waiver signing, and contact tracing. These features protect sports organizations by reducing their liability and ensuring that coaches and athletes are healthy as well as aware of potential outbreaks before they occur. 

Javelin Sports’ in-app health screening process is a series of checks that enables coaches to track the health of their players. The app also features contact tracing by tracking all individuals that attend an event. Lastly, their mandatory waiver signing allows sports organizations to avoid risk and reduce liability. These three areas allow Javelin Sports to reduce the risk of a COVID-19 outbreak in an organization and help clubs if an outbreak does occur.

Launched on June 11, 2020, Javelin Sports’ new Health Checklist feature has aided hundreds of sports organizations as they return to sport. “The thing we’ve found that is most important in reducing the chance of an outbreak occurring is that organizations demonstrate from the top level that they are managing the risk of transmission. This, in turn, helps foster a culture of players holding each other accountable,� says Justin Ford, CEO at Javelin Sports.

Image credit: Pexels

The post Javelin Sports Makes Returning to Sports Games COVID-19 Friendly appeared first on ReadWrite.