18 May 2015

Cost of developing a Mobile App

Factors to consider

Mobile App Development cost

The cost of developing an app will hugely factor into the pricing of your app. You’ll need to take everything into consideration to even come close to a reasonable estimate for the cost of your app.

They include but is not exclusive to:

  • Type of App you want
  • Design & prototyping
  • Complexity of front-end
  • Complexity of back-end
  • Number of platforms you want it on
  • Hourly rates of developer
  • Quality and speed of development
  • Amount of customization that goes into the app

Management and Maintenance

Many people often forget about the cost of maintenance when deciding on the cost of developing an app. Maintenance will take up approximately 30% to 40% of the app development cost in its lifecycle. Proper maintenance is crucial to the longevity and overall usability of your app and should not be neglected.

Maintenance cost can include:

  • Bug fixing
  • UI/UX optimization from user feedback
  • A/B Testing based on analytic results
  • Updates & upgrades for new hardware compatibility

Opportunity cost

The third factor is a more abstract idea. It is usually not considered, but it’s as important as the other two factors. A large and complex mobile app can take up to a year to build and deploy. If it doesn’t deploy in time to meet your company’s needs, then the money invested in the app is wasted.

Expected Return on Investment (ROI)

Some business ideas revolve around having an app. For others, it’s another tool to engage their existing user base. Some require their app to generate revenue directly and immediately, while others expect the app to indirectly increase revenue via consumer engagement. All have vastly different expectations of the ROI.

Make sure you know exactly how you want your new app to generate income and set the correct financial goals.

Total Estimation

A final warning. While choosing the most expensive developer might not guarantee quality, compromising on quality and going for cheap development will almost always incur a larger development cost over time as you work to solve buggy and improper coding.

All factors considered, a large and complex mobile app can cost upwards of SGD $150k, including analytic tools, CRM, customized back-end, design cost and personalized member targeting. These type of Apps however, are designed to take the market by storm or funded by a large corporation. The average cost of most Apps hovers between 40k to $80K SGD, with some advanced features added in.

Check out some of our Mobile development essentials to get new ideas for your app, or have a look at how you can market your new app!

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