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An Executive’s Guide: Part 16 of 20

A 20 part series, we bring you an in-depth discussion of each question to ask before planning and designing your own mobile application. Read more right below the form.


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QUESTION # 16: 

WHAT IS THE MONETIZATION STRATEGY FOR THE APP?


If it’s a B2E (Business to Employee) app, solving internal problems for a business to improve staff productivity, then there is still a money angle and a Return on Investment business case. If it’s designed to increase revenue for the business, how is it going to do that? Through in app purchases? Subscription model? Will features be unlocked with staged payment? Is a physical or virtual product being delivered after payment (so do you need logistic tracking)? Will there be in app advertising to monetize traffic through the app? Knowing this and building the app around the business goal will keep the everyone involved focused. Agreeing the MVP (minimum viable product) and building the Backlog of features acid testing each feature and function against the business goal will mean you’re focused on doing the important things in priority order.

So, your business needs a mobile app for a specific business purpose. That’s a great place to be right now, lots of possibilities, lots of choices and with that comes lots of risk. How do we reduce the risk to a successful mobile development project? We do our homework, we prepare, and we have the answers before we’re asked the questions. The largest Risk with any Mobile Project is time. Because we all know time is money. A mobile project that is loosely defined is a risk for all involved. It is risky for you (the customer) as well as for your vendor. Your company’s impact is missed delivery dates, misunderstood ideas, and most of all, cost. For the vendor, the risk is associated with reputation, delivering incorrectly functioning applications, changes after the start of development, and also cost. So, everyone involved has something at stake. It is best to set the ground rules before the project starts, just like playing a game if the rules (Scope) change in the middle of the game it is nearly impossible to win (hit everyone’s targets). I will go through several questions that you should be answered before contacting a vendor or while interacting with them. Armed with these tools (answers) you can get accurate estimates, accurate timelines, and most of all, piece of mind that you have done your homework. Scope creep will be minimized or eliminated from your project giving both you and your vendor the chance to succeed.

So, it usually starts with a great idea for a mobile app that will help revolutionize your business and reach out to existing customers and a whole new set of customers.

That’s Awesome!

A project that starts off in the right direction has more chance of ending up on time, within budget, looks, feels and does what you wanted it to. So, here’s 20 questions that need answered to before you start that mobile app build.


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