There’s plenty of reasons for companies to invest in a mobile app these days, but that doesn’t make it any easier to secure the budget to do it. Whether you’re a start-up that needs funding or an established brand looking to extend your customer engagement, justifying the investment when pitching your app can be tough.
Requesting extra budget is always a difficult task, and when it comes to investing in new technology where there isn’t always a proven test case, it becomes even harder. So when you approach the board for funding, be prepared and make sure you cover these key bits when pitching your app.
Having a clear picture of how your users already interact with their mobiles and apps is key to understanding exactly how they will engage with your app.
The first and most important question to ask yourself is why do you need a mobile app? Just like any other business proposition, if you can’t answer this question in a sentence or two, then you’ll find it incredibly difficult to sell the idea to someone else.
And it’s not just why you think you need a mobile app that’s important, you need to convince the board that your customers need it too. Never underestimate the importance of customer research. Having a clear picture of how your users already interact with their mobiles and apps is key to understanding exactly how they will engage with your app. We use mobiles very differently to how we use our desktops, and more importantly, each device serves us a different purpose. We use mobiles when we have a very specific task in mind and convenience is key, whereas we use our desktops whilst doing more research and long-tail tasks when we’ve got more time. Does this align with your app plans?
Understanding your customers will not only help you sell your app to the board, but it will also give you a better understanding of how it will integrate into your existing marketing strategy. If you’re an established brand, then your app needs to be an extension of your brand. It needs to engage your customers on a deeper level than social media and your website, but it still needs to fit into the entire strategy to work. By showing the board how a mobile app will give your customers more than they already get, and ultimately lead to increased brand engagement or improved conversions, you’ll be able to begin proving the ROI.
Having the financials outlined at this stage is key to winning over the board. They’ll want to know exactly what it’s going to cost them and how you intend to make that money back. In order to get some project costs, you’ll need to liaise with some freelancers, contractors or agencies to determine the best route for development and to get some quotes. As with anything digital, you’re paying for skill and time, and the figures will vary considerably between who you talk to, expect day rates from £300 to over £1,000.
When researching developers for your app, be sure to discuss support, security, ownership of the IP, features and analytics. Some agencies will charge different costs for different support and licensing agreements. Make sure you get all the facts up front so you’re confident costs won’t change. Here’s some more information on how much it costs to develop an app.
It’s also worth taking into account the internal resource that will be required for the project, who will be needed in meetings during the development of the app, and more importantly, who will be responsible for the on-going management of the app? An app is a product, not just a project. To keep your app users engaged and using your app, it will need to be continually updated, enhanced and updated. You should include this thought process within your pitch.
At the end of the day, your app needs to support your key marketing goal. As well as defining how it fits into your strategy, you’ll need to show how it will impact your business. It’s great to shout about all the things a mobile app could do, but the board will be interested in what’s in it for them. It will be much easier for them to sign off budget if they can see how the app will benefit the company. Is it to improve brand engagement or to increase revenue? What results do you expect to see?
Although you’re selling your app idea to the board to get their buy in, you need to be honest with your reasoning and be realistic with your figures. It’s a huge investment which needs to be executed well to be successful and you need to be clear about purpose, need, costs and outcomes.
Finally, enthusiasm is key – if you believe in your app idea others will too!
If you’re planning that all important mobile app pitch and are seeking additional guidance, then we’d like to hear from you. Visit our contact page or get in touch with one of our employees via the LiveChat portal on the bottom right hand side of your screen. We look forward to hearing from you.
This article originally features in Marketing Tech