Tips To Plan Your Budget for Your Next Mobile App Development Project

The mobile app economy is growing tremendously with the increase of app launches in both app stores for iOS and Android platforms. As we witnessed the addition of more than a thousand apps per day, the competition is quite high but it offers a huge opportunity to grow your business.
Developing a mobile app can be an exciting journey but also a challenging one without the help of reliable Android and iOS App Development Services. However, getting your mobile app budget straight is essential if you want to tap into this lucrative app market.
To help you plan better with your budget, let’s check out some of the top strategies that must be kept in mind to minimize the costs of creating a successful app for your business.

How to Estimate Your Mobile App Development Cost?

Many of you must be aware that mobile app development cost depends on several numbers of factors! However, only a few of you knows the exact factors that can impact the development and how you can save your budget from overspending especially if you are a startup business owner.
After thorough research and experts’ advice, we have come up with a list of the most important features that can determine the app development cost.

App Type & Size

One of the most important aspects is the size and complexity of the app that you are planning to build for your business. Apart from that, the cost may also depend on various industry verticals.
For instance, Real Estate App Development costs may require features like location, virtual 3D tours, etc. that you don’t need for some other apps. Adding them will add up the cost.
To help you break down the app cost, let’s see some of the common app types and their average development cost-

Basic App – Building basic apps like calculators, clocks, etc. doesn’t require much effort and costs ranging from $10k to 15k
Data-Based App – Developing apps like calendars, maps, etc. need lots of information to be analyzed and shared. This may cost around $15k to 20k

App with User Authentication – Creating a loyalty app needs special offerings exclusively for each user, which requires a login to access them. The cost comes to around $40k to 80k.

Social Networking App – Building an app like Facebook need to handle a million interactions, which means you need a larger cost (average cost is $60k to 300k)
eCommerce App – If you are building an app like Amazon, be ready to pay more for the eCommerce features. The cost comes similar to social networking apps like $60k to 300k.
Marketplace App – For apps like Booking.com, incorporate features for both eCommerce and on-demand apps costing you around $150k to 300k.

On-Demand Service App – Working with end users and connecting them to service providers require on-demand apps, costing you around $80k to 150k.

Developer’s Type & Location

When we talk about the types of developers, we mean small firms/freelancers, specialist companies, and big development agencies. The first one consists mainly of freelancers that can help you build reliable apps at the lowest development cost but lack in-depth expertise to build complex solutions.
If you plan to hire someone that has a complete focus on software development, you must go for specialist companies but they come with slightly expensive costs.
The last type is large agencies that can help you deliver the best apps built by an experienced team with great knowledge of development tactics but charge the highest cost with a less personalized approach.

Number of App Features

Another factor that can add up the development cost of your mobile app is the number of features you need and the complexity of each feature comes with different costs. Basic app features may take 20 to 25 hours to develop while advanced features may range from 150 to 250 hours to complete.
Additionally, API integrations and implementation of advanced technologies like Machine Learning may add up the cost. Other features like geo-location can add up the cost as well. Take time to analyze the essential features you need for your app and implement them only at the initial stage as you can add other features later.

Development Method

Whether you choose to develop your app on the iOS or Android platform, the development cost may vary as per your plan.
You can build an app for both platforms with the help of cross-platform development approach. Though native apps are known for great user experience and overall performance, it comes with a higher development charge.
If you opt for the cross-platform development method, you can save costs tremendously as a single codebase of cross-platform is used for Android and iOS platforms. Using built-in features comes easy with the native app while in cross-platform, you need extra libraries for the implementation of functionalities.

UX/UI Complexity

Customer experience plays an important role to grab the attention of users when it comes to the mobile app. With the stiff competition in the market, one must go for a mobile solution that follows a simple approach with easy-to-use features and seamless navigation.
Take time to come up with an exceptional app design if you want your app to succeed. Personalized UX/UI design includes using icons, buttons, fonts & other design elements, which will add to the development with the personalization level that you choose for your app.
Ensure that you hire an expert team that can help you build an app with appealing design and a good user experience.

Maintenance After Launch

The app development cost doesn’t end with the mobile app launch; it comes with continuous monitoring and update. With evolving customer demands, you need to update your app from time to time by adding new features, resolving bug issues, etc.
Your customers will lose interest in your app if you don’t update as new competitors in the market may offer solutions with offerings that are better than yours. The average app maintenance cost may take up the cost of 15 to 20% of the entire app development budget.

Closing Statement

After going through the blog, you have gained a good understanding of building a great mobile app for your business on a well-planned budget. Though many factors must be considered for the mobile app development process, hiring a trustworthy app developer team is a must to avoid getting overwhelmed.
Depending on the specific app requirements such as app types, complexity level, features you choose, industry vertical, etc. cost will vary accordingly. Being a trusted iOS and Android App Development Company, Clavax has a bunch of expert professionals that can help your business with a wide range of premium mobile apps built at affordable costs.
You can also get a quick estimate in a few seconds by using our smart app cost calculator to help you plan your budget better.