What’s the right strategy for branded apps in a crowded marketplace? | Mobile Marketer

For existing brands, having an app just for the sake of it could be a bad move. But, with the right engagement and pricing strategy, apps can still make sense for brands, according to new research.

The thinking around apps has evolved over the past few years to where it is widely accepted that not every brand needs an app, especially as opportunities proliferate for engaging with mobile users via chatbots, digital voice assistants and other means that are typically not as heavy a lift as apps are. However, apps are still the gold standard for providing a robust and engaging mobile experience and may make sense in certain scenarios. If marketers continue to focus on making incremental improvements to apps, there chances of a successful app increase.

Once brands decide on developing an app, one of the first questions they encounter is should it be free or cost to download. This is one of the issues looked at in the latest report by researchers at Flinders Business School and LIUC, Bocconi and Loughborough universities. The research examines apps as brands and offers some specific guidelines around what marketers should do with pricing when choosing between very common scenarios such as launching an app for an existing brand versus launching an app with a brand that is new to the world. It turns out that the answer to pricing depends on the lifecycle of an app.

“The main takeaway is that managers of existing brands should launch apps primarily for the purpose of engaging consumers with the brand seamlessly, and should give out the app for free,” said Lara Stocchi, professor at Flinders University in Australia and a co-author of the research.

On the other hand, Stocchi said that so called “new to the world apps,” “offer opportunities for entrepreneurship and innovation and should be given out at a price to convey the sense of uniqueness and coolness to consumers.”

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What’s the right strategy for branded apps in a crowded marketplace? | Mobile Marketer.

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