Money makes the world go round!
Whether or not you are an advocate of the above statement, you have to admit that one of the first things that cross your mind when you think of purchasing a product or service is the financial aspect of it. As consumers, we are reluctant to spend our hard-earned money on sub-par products or services that do not make us feel like we got the best bang for our buck.
We always tend to go for the products that seem “worth the money,” we do copious research before investing in a product or service, and we feel satisfied only if we feel that we got good value for money from the service provider. In fact, any further interactions with a service provider will depend on our return on investments from our previous interaction with the service provider.
The same principles apply when you consider making an investment with technological service providers, such as investing in a website or mobile application. You start by wondering how much you will have to shell out to get a great website or mobile application. Sometimes, the price comparison can get very confusing.
There can be instances when you are lowkey mind-blown by the differences in prices for the same product or service when offered by different providers. Consider two service providers, let’s call them Service Provider A and Service Provider B, who are competitors and have more or less the same product or service to offer, at least on paper.
Service Provider A might be charging you only a fraction of the price set by Service Provider B. Clearly, your wallet would be inclined towards Service Provider A in this case. But, it would be very unwise to make a technological investment decision based on which service is cheaper.
You need to consider why A can provide cheaper services. Perhaps they only have a very basic product, without any additional features. Maybe the quality of service won’t be in the same league as that of Service Provider B. What are B’s unique advantages that let B charge much higher prices than its competitor?
Do you feel sidetracked? Okay, let’s address your main question first.
Table of Contents
- How much does it cost to make an app for your business in 2021?
- What are the main factors that affect the average app development cost in 2021?
- Complexity of Your App
- You and Your Team
- Customisation to Suit Your Business Needs
- Geographic Location of Your Development Team
- Number of Platforms You Want
- App Maintenance and Upgradation Costs
- How can I reduce the costs associated with app development?
- Be Clear with Your Initial Requirements
- Know What Your Priority Tasks Are
- Keep Q/A Testing Agile
How much does it cost to make an app for your business in 2021?
Asking a question like this is like asking what the time required to grow a plant is. Different people will have different answers based on their perception of your question. For example, one might immediately picture a money plant and tell you that it takes a couple of months, while another might think of a bamboo plant and tell you that the plant can grow around 35 inches in one day. You also need to consider the purpose of the plant. You can grow a mango tree in a few years, but it will take even more time to get fruit from it.
Similarly, Google search will give you a number of different price ranges for app development in 2021. But don’t be quick to decide based on the figures you see on the world wide web. Take the time to align your requirements with your budget before you invest with any application developer.
The popular consensus is that a basic mobile app for a single platform can cost anywhere between $25,000 to $50,000. A medium-complexity app for a single platform can cost anywhere from around $50,000 to $100,000. And a complex app for a single platform can set you back by more than $100,000.
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Now, let’s address one of the most important questions you should be asking:
What are the main factors that affect the average app development cost in 2021?
The Complexity of Your App
The first factor you need to consider when calculating the cost of developing an app for your business. How complex does your application need to be? Will a simple, static website be enough for your needs? Or will you require a visually appealing dynamic platform?
And what about the features involved? Will you just need a basic application or a feature-rich one?
Think of the prices on a menu at a restaurant. The more effort that goes into making a dish, the higher its price. The more choice the ingredients that go into the garnish, the higher its price. Similarly, the more complex your app, the higher its cost. The more features you want for your app, the higher its cost.
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You and Your Team
You and your entire team will definitely play a key role in determining the cost of developing your app. Your team needs to be top-notch if you want to ensure that there is no wastage of resources.
While putting together a team for app development, you need to remember that your team is only as strong as its weakest member. Make no compromises while selecting team members, as one wrong hire can prove detrimental to your app project in the long run.
If you have a dependable team to rely on, your costs in the duration of your app development project will automatically stay within budget.
Customisation to Suit Your Business Needs
Your app development needs will vary vastly from those of other businesses because your business needs and goals are unique. You may need features that are tailored to enhance the user experience on your app, which means there is customisation involved.
Most app development teams will have a basic version of a simple app, which they use as a framework to build the app you require. See it as a foundation for a house. The foundations for all the houses in a neighbourhood may be similar, but each house is customised according to the owners’ preference living there. The white picket fence and the blue door with the antique brass hanger are going to cost extra.
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The Geographic Location of Your Development Team
The geographic location of your team also plays a role in deciding the cost of developing your app. Hiring a team of experts in the US will definitely set you back a pretty penny. At the same time, it is cheaper to hire development teams in countries like India, where the resource availability is high.
If you hire a local team, the costs may increase, whereas outsourcing your product development can cost you less. The cost will vary depending on the cost of living and resources in the place where your core development team is located.
The Number of Platforms You Want
How many platforms do you want your application to live across? If the answer is one, then your development cost will be much lower than that of apps meant to run across several platforms. If you want to opt for two or more platforms, more effort goes into ensuring that your app is functional and pleasing across all platforms.
This factor is not independent. Even if you need an app that is live only across a single platform, it could cost more than a dual-platform app because of the different levels of complexities involved.
App Maintenance and Upgradation Costs
The work is not finished as soon as the development team you hire gives you a product and you scrawl your signature across the sign-off document. In fact, in many ways, the real work is just beginning. This is the phase where the final app is put to the test, and you analyze how good an investment the app was for your business growth.
You will need to factor in the maintenance costs of your app, such as hosting server charges. You also need to remember that you live in a technologically advanced era, so it is always possible that today’s technology will be outdated next month. It will cost you to keep your app updated and relevant in your marketplace.
Now, the question that is most likely on your mind is:
How can I reduce the costs associated with app development?
You should not cut corners when it comes to app development because it is a huge long-term investment. However, keeping a few of these pointers in mind might help you streamline your exact business requirements, which in turn could help you trim excess expenditure as your app project develops.
Be Clear with Your Initial Requirements
If you know what you need out of your finished app, then that’s half your work done right. One of the major reasons app development costs tend to stray outside the budget is a lack of clarity on the exact requirements before a development project commences.
If you make changes to the scope of work while the development is in progress, it will mean extra billable hours for your development team and more strain on your pockets. So, to keep your running costs low, make sure you go in with a preset game plan and avoid surprising your development team with new scopes of work.
Know What Your Priority Tasks Are
You will most likely have a set of basic requirements for your app which will be tagged as priority. Once the priority features are added, you can then focus on the extra frills.
Being able to distinguish between your priority capabilities and extended features can help you outline very clear tasks and timelines for your app development project. It will help you set a budget and stick to it.
Keep Q/A Testing Agile
Don’t wait till the last minute to test your app development progress. Make sure the product undergoes a continuous testing process at each stage of completion so that you can fix the small bugs before they become huge time-consuming pests that are hard to get rid of.
Adopting an agile methodology of quality assurance testing for your app development project also ensures that your team is kept on their toes at all times, and this will result in more optimal results.
In Conclusion, Plan Ahead
As always, plan ahead. Knowing the type of app you want, the complexities of the features involved, and the exact end product you expect will help you figure out the nuances that will cut down on additional expenses.
For example, if you wish to opt for an app that is supported on more than one platform, you might want to consider cross-platform app development as a cost and time-effective alternative.
With the right planning, you can ensure that you do indeed get the best value for your money once the app development project is completed. If you’re not sure where to start, you can reach out to reputed app development companies such as NeoITO and explain your requirements to get an idea of the average development cost for your app. As we have many years of experience, we know how to develop your product based on your requirements cost-effectively from A to Z.