Have you recently looked at the Bitcoin or Litecoin price forecast and thought that the ability to make crypto investments would be a great addition to your business? Perhaps other types of investments would also fit? Other businesses have thought so, too. And they have made an even bigger effort – they’ve developed full-fledged investment apps.
Let’s look at five good reasons to become more involved in investment apps from a business perspective.
Reason 1: To Keep Up With the Trends
The rising popularity of retail investing, coupled with an explosion of alternative investments like cryptocurrency and collectibles, expands the market for potential users. There are simply more people willing to dabble in investing.
Some people will gravitate to something traditional like stocks and indices. Others will go for high-growth, hype-induced assets. A modern investment app must have an offer for both groups and be ready to add the newest, trendiest assets.
Reason 2: To Meet the Demand
If your business operates in the financial world, it’s only natural that some of your customers will be interested in investing.
Many of the existing investment apps are not perfect. Why not build one that is as close to being perfect for your target user as it can possibly be? You can use all your business data and insights to create user personas and even include your customers in the testing!
Reason 3: To Offer a New/Better Product
New products, in this case, an investment app, can help businesses accomplish the following:
- Lead the competition
- Meet the needs of a new customer segment
- Fragment the market you currently operate in
- Reposition the organization in a new niche
- Increase profitability and/or add a revenue stream
- Enter high-growth markets and expand the company’s growth potential
- Take advantage of excess capacity
Reason 4: To Increase Customer Engagement
Your customers may not be as involved in your brand as you would like them to. One way to make them more involved is to offer a product they’ll enjoy using and integrate engagement tools into it. Speaking of the latter, you can include in-app messages, user recommendations, and notifications.
You may have other products, but the level of user engagement on mobile is just unparalleled.
Reason 5: To Offer a Better Customer Experience
Finally, an app can help you build frictionless customer journeys. For this, you’ll need to pay close attention to basic features that shape the overall app experience. These are uniformity, loading speed, and interactivity, just to name a few.
Your app can also offer the convenience that your other products cannot. Besides, your customers will never be without your app because they’ll never be without your app.
Hottest Investment App Trends for 2022
While investment app trends aren’t really a thing yet, we’ll discuss two components separately so that you can combine them.
- Growth of new exponential technologies: Fintech, Edtech, Medtech, Greentech, and Spacetech
- The meme generation: NFTs, stocks with notoriety on social media like Nokia and Blackberry
- DeFi: smart contracts and decentralized autonomous organizations
- Wholesale investing: by teams of investors with bigger buying power
- Impact investing: to support companies that generate measurable social and/or environmental impacts
- 5G: to support unmatched speed and interoperability
- Wearable connectivity: for improved data collection and streamlined IoT use
- mCommerce: to adopt a mobile-first approach
- AR integration: to utilize geolocation data, QR codes, and object recognition
- P2P payment: to provide control and immediacy of an in-person cash transaction
Challenges to Consider
Before you launch straight into development, make sure you understand these challenges that you’ll likely face:
- Device compatibility and screen size – Developers will need to program for numerous screen-size “buckets.” If they do it right, this will give you access to the greatest number of people using the widest variety of devices.
- Scaling – Your application must be to handle a growing user base, which should be anticipated even before launch.
- Security – Expand your IT security team to cover mobile vulnerabilities. If you just add another area of responsibility to your existing team, there may be oversights.
- Battery consumption and performance – The seemingly impossible trick of consuming less battery without compromising the performance is another requirement for your investment app.
The timelines for these challenges are different. Some of these will haunt you for the entire development cycles, some are more prominent at a certain stage.
It’s also important that you and your team have the solution before any of these challenges comes your way.
Obviously, not every business will need to venture into investment apps. But if it makes sense for your business, now you know a few good arguments in favor of developing one. Make sure to work with a reliable, experienced developing team and build an app that highlights everything your business can offer.