The Best Way to Calculate the ROI of an Enterprise Mobile Application

Knowing the role of mobile apps in growing business, corporates of all sizes and domains are putting efforts to introducing an Enterprise app in their processes. They are considering mobility solutions as the missing piece of their business and looking forward to employing it for enhancing their in-house processes and gaining higher revenues and popularity in the market.

But, are all able to enjoy this perk? Are all getting the best outcomes from their investment in Enterprise mobile applications?

Unfortunately, not.

And the prime reason behind is that though they have added the best of their efforts in their Enterprise app, they have never looked into determining if their application is apt as per the desired ROI. Or better say, they have overlooked the need to determine the ROI of their enterprise mobile app.

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Considering that you too are a corporate who has realized that Enterprise app development is an effective way to grow business and wish not to make the mistake that many other Enterprises have made, we will talk about the ways to measure ROI of an Enterprise mobile application in this article.

So, here we begin with the first.

  1. Identify Your App Purpose

Just like any marketing strategy or product, every application comes with a core purpose. While some Enterprise applications are used for automating existing business processes, others are considered to improve collaboration and communication, enhance employee productivity, and more.

So, the very first thing you need to do is to determine what exactly will be the prime functionality of your app, what business challenge will it target, what department will use it and how, and more.

  1. Pick the Right KPIs

When you have looked into the core purpose of your Enterprise mobile application, the next factor to consider is to identify the mobile app KPIs that maximize app revenue.

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Now, when talking about KPIs to measure your Enterprise mobile application’s ROI, there are basically two types of metrics that must be considered, i.e.,

  • Tangible KPIs, i.e, the mobile app metrics that can be recorded significantly at numeric level.
  • Time savedLess number of errorsImproved system reliabilityFaster fixes and quick responsesNumber of tasks done in a particular time spanThe rate of Active usersIncrease in terms of Sales and Customer Satisfaction
  • Intangible KPIs, i.e, the mobile application metrics that are difficult to determine in numeric value.
  • Key difference in competitionEnhanced Customer feedbackEncouraged Employee moraleHigher Market Recognition
  1. Analyze and Improve

With a detailed information of what KPIs to pay attention to, the next step is to analyze the ROI by comparing the cost to develop an Enterprise app with the outputs of the KPIs considered. And in this way, determine if your application is driving the right outcomes or you have to look into how can Enterprise mobile apps increase ROI.

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Now while this would have helped you with understanding how effective is your Enterprise mobile application in terms of ROI, but in case, you still have any queries, connect with the best Enterprise app development company.

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