THE APPLICATION ECONOMY

Customers prefer to interact with your brand through software instead of in-person

It’s no secret that our world is becoming increasingly connected by the growing adoption of both smartphones and mobile applications. In fact, customers are more likely to interact with your brand through software than they are through face-to-face interaction with a live person. This “Application Economy” presents a completely different set of business challenges and opportunities that is shaking up the competitive landscape, and the gap between proactive and reactive companies is continuing to grow.

A recent study of over 1,400 senior business executives has found that the effects of the Application Economy are already being widely felt.

50%
of companies say that their industry is already being very or highly disrupted by implications of the Application Economy.
44%
of companies are already experiencing changes within their own organization.

Having the ability to be in the palm of your customers’ hands twenty-four hours a day, seven days a week is a huge opportunity to create value. Proactive companies who provide value through mobile applications can differentiate themselves from the competition, and most importantly, boost revenue and profitability. Leaders (organizations that are actively investing in quality customer facing apps) are far more successful than Laggards (late adopters of the mobile movement).

Proactive companies have:
106% higher revenue growth
58% higher profit growth
50% more revenue from new offerings

The Application Economy isn’t going away anytime soon. If anything, the divide between proactive and reactive companies will continue to grow as Laggards fall further and further behind. Because the mobile platform offers organizations the ability to stay in constant contact with their customers, businesses are recognizing the opportunity and have increased technology investments by an average of 25%.

What is your organization doing to confront the challenges and opportunities of the Application Economy? Talk to a mobile application expert today to find out how a custom built mobile application can benefit both your customers and your bottom line.

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