The most frequently asked and the most expected question you get in mind when you are looking for product development - "How much will it cost to build my web or mobile app?".

Well it's not that simple isn't it!

There is a lot that goes behind creating an app, and I'm going to take you on a tour of what goes behind creating an app and also answer this most frequently asked question.

Well every app needs a strong conceptual foundation behind it, a great idea and planning, an excellent ecosystem and top-notch talent in both the design and engineering phases.

Go wrong with any of these elements and you will risk the value and returns of your app.

Doing your homework is important before investing on something, this saves a lot of efforts in terms of time and money spent.

Businesses may be surprised at the typical price range for a high-quality app.

Substantial apps - require significant time and expertise to build.

Keep your expectations realistic and understand the pay scale that professional app development operates on.

"When it comes to app development, you get what you pay for!"

Now let's answer your question.
How much will my app development cost? Well the answer is...

"The cost of building an app with a development company varies according to the app's features, complexity, and the type of firm employed"

Let me take you through the following 5 rules to apply when planning your budget.

#1 Getting your concept right and validated

How do you validate your business idea?

How can you assure success of your mobile application?

We at NMG have created a data driven approach to find if a mobile application concept can be a success or not.

We have created a Success Prediction Metric which goes deep in understanding the below factors for specific industries.

Here we give you a glimpse of the factors we consider while predicting a successful app:

  • People who get a requirements gathering done vs people who don't
  • Lean startup vs a Full blown approach
  • Testing versions - sending questionnaires and surveys
  • Best seasons to launch your app
  • Full time Entrepreneurship vs Part time dedication
  • Working with experienced development companies vs freelancers
  • Marketing & Promotion of the app - identifying the right channels to market your app
  • Understanding user customer journey by capturing their feedbacks and reviews

#2 Understanding the app development process

App development stages:

  • Discovery Phase/Product Strategy
  • Design
  • Development
  • Deployment

Apart from the regular app development process, your company should be able to do the following:

  • Work with you to document your requirements
  • Conduct market research about a client's potential competitors and apps
  • Analyze whether an app is the best medium for clients to meet their goals
  • Create prototypes to visualize the app
  • Schedule a project's development to determine a timeline
  • Provide the objectivity you may lack
  • Set-up dedicated team with faster response time

#3 How types of development companies affect costs

Today building an app require two big components: finding an experienced development team and managing the team smartly.

We call the combination of the two "Customer Managed Development"

Read #4 and download this checklist. It will make sure you are off to a great start.

#4 How to manage your app development process seamlessly and avoid getting into change requests trap

If you're currently looking for web app development, you know that it may take months to build and bring returns,

Which is why it's more crucial than ever to accurately track your development and, if needed, make adjustments along the way.

That's why, we bring you an actionable checklist that covers:

  • How you can manage yourself to manage your team
  • Why most people think their web app development is "failing"
  • Use this step by step guide to avoid wasting your valuable time and get it done right the first time.
  • And more!

Download this Developmental checklist to keep your app development process well managed and streamlined.

#5 Types of apps and their feature wise cost estimates

The major part of the cost of app development depends on its features and functionality.

We are sharing costs of some of the common modules to help you get an idea of your development costs. The costs mentioned below are for a single type of app (Iphone, Android phone or wearables):

  • Ecommerce
    • Single Store Ecommerce: ≤$10K
    • Multi Store Ecommerce: $25K - $50K
  • Streaming: $20K - $50K
  • Augmented reality: $40K upwards
  • Geo Location: $10K upwards
  • Internet of Things: Starts at $100K
  • Machine to Machine: Starts at $75K
  • Apps for Wearables: $10K upwards
  • Interaction And Engagement: $25K upwards

Conclusion

There are many factors which affect the overall cost of an app, from planning to features to the company which is developing, a thorough homework and research of your local developer or app developing company which you are considering to approach will definitely help you in major cost cutting.

Discover Your App Development Costs

We would love to take a look at your app concepts and analyze the solution for your industry!

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