The majority of companies (88%) believe that their apps have been a financial success by providing a return on development, according to survey findings by The Manifest.
Having spoken to 301 companies, the study also found that the majority of app developers and marketers now spend over 31% of their app budget on marketing. Indeed, businesses have begun to realise just how instrumental marketing is in launching an app.
Furthermore, 68% of companies with a mobile app have put in place long-term app marketing strategies whilst 30% also have short-term plans. Just 2% of companies did not document marketing objectives for their app.
“Marketing should be considered from the very beginning. It should be part of the whole budget, not after the product is ready,” explained Anastasiia Marushevska, Head of Content at Django Stars, the Ukraine-based product development comapny. “Marketing specialists should be with the product during the customer development stage.”
At the same time, companies do value the importance of keeping apps updated with 38% of them updating their app once a month, whilst 45% updated their app at least every two to three months.
This also allows for customer feedback on app design and functionality to be incorporated quickly.
Around 35% of survey respondents said they spent up to 50% of their total app development budget on marketing whilst 33% spend around 10-30% of their budget on app marketing.
However, profitability remains a slightly controversial issue. Although 87% of companies believe their apps are profitable, just 0.5% of apps are actually predicted to make a profit in 2018. The reason for this discrepancy is that businesses consider an app successful if it leads to awareness or sales, rather than directly generating money.
The study shows that app developers and marketers are increasingly understanding the value of app marketing as well as dedicated app development and launch plans.