In several studies conducted this year, the rise of the on-demand industry is clearly evident. The market size rakes an income of about USD 57.6 billion from US customers on an average each year. By 2023, the on-demand food delivery market is projected to reach $161.74 Billion. These numbers are not lost on emerging and existing businesses, as everyone wants to become a part of the incoming wave where customers rely heavily on on-demand services like Uber, Dunzo, Rideshare, and others. But what is the main essence of establishing your own on-demand app?
Many organizations prefer to curate apps from scratch, there is a huge market for on-demand solutions today. Owed to the ease it brings to business operations, companies are keen to provide an application that skips out lengthy processes like beta testing, development, and recalibration.
Businesses can save up on such operational costs by delegating the development aspects to a third party who can get the work done effectively. For instance, a company that seeks to create a digital presence requires an internal development team to build its website, web app, or application. However, it becomes a whole lot more convenient to let a third-party on-demand app development provider have the job done using their tailored approach. Just implement a white-label solution to solve all your problems with a simple few clicks.
The question that arises in such situations is how does a company go about launching an on-demand solution? iView Labs has the answer for you! Let’s look into six ways that can help you launch an on-demand solution that can immediately cater to your client’s needs- minus the hassle.
Six Steps To The Easiest On-Demand Solutions Launch
Conduct the Necessary Market Research
Today, the on-demand app and solutions market is one of the most lucrative avenues for businesses to delve into. Be it on-demand healthcare solutions, or delivery services, all of them are thriving due to the evolving consumer persona. Customer 2.0 puts convenience and ease of living above everything else. Hence, it is a good place to start your research to find ways that add to the comfort factor of your prospective and existing customers. For insight into what works and what isn’t working, save time by looking into your competitors. They can become a shining example for learning from others’ mistakes while refining your solution structure and concept in the early stages. From your preliminary research of the market and relevant industry, you’ll be able to form an informed decision regarding:
- Any gaps and voids in the demand-supply bridge
- The niche of your on-demand solution
- The projected growth of such solutions
- Consumer expectations and receptivity
- Features and Functionalities
- Your budget for solution development
- Deployment strategy and timeline
Your Definition of Success
For every brand, success is measured in a unique way. Sure, your numbers can showcase monetary gains, but today, success is quite multifaceted. It can be defined as the number of customers served over a particular timeline, or the number of leads you acquire. If you’re a service-based company, the key decision-makers may use metrics like the Key Performance Indicators mentioned below:
- Number of active users
- Gross Margin
- Burn Rate
- Conversion Rate
- Customer Acquisition Costs
- Consumer Lifetime Value
- Operational Costs to Revenue Ratio
It is imperative that these KPIs be defined early on in the process because they act as a yardstick to compare your monthly, quarterly, and annual growth. It will also help your teams collaborate in perfect sync to work towards these common goals. If you’re choosing a white-label partner for your on-demand app development solutions, conveying these success markers will help them tailor your app to perfection.
Go Cross-platform and Multi-version for Your App
Have you heard of the multi-channel approach for enhanced customer experience? In the present scenario, businesses need to approach customers at their level, which includes the channels they prefer to use the most. As per Statistica’s study on internet usage in April 2022, we’ve crossed the five billion internet users mark worldwide. This makes up 63 percent of the global population, which is a huge market to cater to. Additionally, the number of global smartphone users today is 6.648 billion.
If a business launches an on-demand solution only in a singular model, it is most likely to touch only a part of its ideal customer base. However, this can be changed if they choose to consider cross-platform integrations such as mobile-optimized web apps, desktop browser versions, and the app store. It improves your availability, thereby helping customers find you wherever they wish, from any device possible.
Get the Right Solution Partner On Board
One of the biggest tasks after research and choosing initial markers is to select the best possible technology partner. For white label solutions, organizations like iView Labs can help with end-to-end development, from inception to the launch and post-deployment. One of the best ways to hire an on-demand app development company is to book a demo with them to check your conceptual alignment with theirs.
Establish User Documentation and Guides:
What makes your on-demand app development process better than 80% of the competition out there? Make sure that your customers have the smoothest user experience. As we’re living in the age of digital transformation, user documentation can no longer be moved to the sidelines. Prioritize, creating an extensive knowledge base for your users, be it demo recordings, CMS guides, agnostic chatbots FAQ, or meaningful content. The key is to have all the resources they need ready so that the struggle is kept to a bare minimum.
Revise and Reroute
Post-launch, you’ll receive a lot of feedback from customers and users based on their clickthrough rate, retention rate, or even abandoned carts. For instance, your delivery app UI has been a bit too unfamiliar for users to find real-time updates. Your job is to find out what aspects of your on-demand delivery app development can be refined, and make the necessary adjustments. The first six months are usually dedicated to such fine-tuning after which the app will settle into a simple feature addition, user-experience enhancements, or debugging process per update.
Wrapping it All Up:
The journey may seem meticulous, but the diligence pays off. Curating a lucrative solution for your customer base can be made easier if you followed these six steps while formulating a strategy. Be it an on-demand cab development solution or an online dispensary you’re seeking to build, the bottom line lies in having the right technological support. At iView, we strive to make the process of launching an on-demand app seamless with our bespoke solutions.
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