It is quite common for clients to come with high hopes, whenever meeting representatives from a mobile application development company to handle their projects. Above all, the most important parameters they consider are cost and time factors. If the company is able to provide rough estimates fitting their needs, then they will not go back disappointed. However, the reality is not as simple as it seems to be. Rough estimates of time and cost are not accurate measures by any means. In order to get the actual figures, a consulting team needs to be deeply involved, researching about the clients and their needs in as much details as possible.
This is the reason why most IT companies, especially mobile apps development firms consider the first stepping stone to a project very crucial. The first thing that they would like to do is to let their consulting people sit with clients through various meetings to discover what they want, why, how, and most importantly when they want. Even now, the firms realize the importance of comprehending the business objectives before starting with an undertaking. In addition, it is also important to figure out what it takes to build an app as per client requirements and whether it will work or not.
The trickiest part of such undertaking is clients spend away a fortune initially thinking that the preliminary phase is the most important. However, they do not oversee the future uncertain design, development, and testing costs that could have clients end up with a bill amounting to twice, thrice, or even more of what was expected. It just takes a single element or component to create complications in the entire project, leading to a complete budget recalculation. Hence, it is very important to think about all the loopholes in advance, and have measures in place when the actual time arrives.
For small sized or midsized businesses, an extra bill of $10000 is enough to get the whole project either put on shelves, or forcing clients to release the app right away with incomplete features. In such a scenario, clients are the ones to suffer due to huge financial losses, and even the mobile development companies because their reputation or credibility is affected. This is all due to mobile firms not able to provide detailed consultation to the clients. Scheduling extensive consulting meetings is the phase where each small trait related to the undertaking studied, to invest money in right place, and avoiding the pitfalls saving clients from spending unnecessarily.
Relevant breakdown of actual mobile application development costs
A common question asked by every client, “How much will I end up spending in creating a mobile app?” The common answer you tend to hear, “It all depends on mobile features you want.”
Most development agencies give a random estimate taking into account all the necessary as well as useless functionalities, raising the expenditure bar of the entire project. It even goes higher when the actual stage arrives. These inaccuracies lead to a project shutdown, or possibly client backing off from the company. We can help you teach how to go about estimating the cost yourself, to stay away from the potholes present in your way.
1. Mobile apps designers & developers are a necessary investment
You cannot compromise on hiring mobile apps developers or designers who know just about basics and still allocated to your project. Experienced skillful people, charge somewhere in between $150 to $200 per hour of work. You can go for cheaper options but then be ready to compromise on quality terms. Now let us help you take an estimate. It will take about 120 hours of work or 3 weeks of dedicated resources to have your project reach the estimated cost of $20,000.
2. Expect unexpected cost during pre and post transit
The cost we estimated above relates only to hiring committed people on board. There are so many associated support and maintenance costs encountered in between the project design and development stages. Even post deployment, the app needs lifetime support and maintenance in terms of updates, upgrades, bugs or errors fixing, and lots more. A few companies do it free, while majority ones charge a fixed annual fees in terms of a yearly contract. If we go by the industry standards, you could expect 20% of the total project cost as an annual servicing cost. Therefore, in the above example, it comes to $4000 a year.
3. Pre & Post launch app marketing costs through promotional activities
Any app does not become a hit right away. It takes a while lot of efforts in app advertising through television, radio, newspaper, outdoor media, online marketing, or word of mouth to spread across your app virally among global users. Getting discovered in a crowd of millions is the hardest part, which if passed successfully, can make your work a lot easier. Allocating a budget for branding and promotion is vitally important for a sustainable life span.
Have you started calculating the overall budget of your app?
The above 3 factors we discussed needs to be effectively studied in order to have a total estimate of what your project cost could possibly turn out to be. If you are unable to do so, or probably do not have time, you can employ a professional company like us who will help you to have a smooth sail in understanding what it will really take to transform your vague idea into a hard reality.
The consultation is not meant towards understanding cost criteria. Meetings play a very important role in strengthening the bond between companies and clients. It is these consultations meet ups where both parties can have a hands on experience in understanding the behavioral as well as thinking perspective of the opposite party.
Without consultation meetings in place, there is a wide communication gap between the organization and the client. They are not able to arrive to a unanimous decision at every single stage, leading to the project getting delayed and even costs rising higher. We, unlike others, believe in a thorough scanning of the requirements, together with the pros and cons of installing things that will be useful and discarding the ones serving no purpose other than being present within.