• Ilya Chubanov

Quick Guide For Building A Successful Money-saving App

Updated: Nov 29

As far as the convergence of marketing and technology is concerned, an app does so much. Every budding business person or tech enthusiast has thought about creating a mobile application that captures the zeitgeist. But you also need a trusted technology partner to help you out, which we can help with.

In 2019, there were 115 billion downloads. From lifestyle solutions to computer games, an app covers so much ground that it is rife for exploration.

In this article, we'll show you how to create, deploy and fit your mobile application into the market. As everybody is continually looking to penny-pinch, with apps like Plum and Monzo making seismic impacts, let's get you into the action.



CREATING AN APP

The general structure of creating any application follows four key components:



SRS Gathering

Software Requirements Specification (SRS) is a document containing your set of requirements for the product. This is used predominantly for communication methods, for the developer, and for yourself. When you are writing one, it's important to be specific and get help where necessary.


Product Implementation

This process is structured to incorporate the software into the workflow of an individual end-user or organizational structure. The frameworks can vary depending on the needs of the creator and could comprise of the Prince2 method or DSDM (Dynamic System Development Method).


The Testing Stage

Testing the app can comprise of various types: functional testing, laboratory testing, performance testing, interrupt testing and memory leakage testing, however, these are just a handful. One of the popular types right now is crowdsourced testing.

Because there are so many different types of tests it is so important to find the right method. Testing your application is all about giving it a proper time frame and deciding the type and volume of testers that you need. You need to take the testers’ feedback on board.


The Rollout Phase

There are so many great mobile apps out there that don't seem to catch the imagination of the public. To make your application successful during the rollout phase it's important to submit it for review on relevant sites, create a release plan, but also collect feedback.

For the benefit of a money-saving mobile app, going to the masses can warrant specific feedback. The rollout stage should be done in increments. You can start a very small percentage such as 5% and gradually increase the rollout up to 100% so you have control over each stage.


DEPLOYING THE APP

One of the most crucial parts of the process. Deploying can take approximately 3 months and, depending on your needs, could cost somewhere in the region of $30,000 to $80,000. Deploying the software can be done through various technical approaches.

You could use a web server, backing services, as well as application servers. It's also worth bearing in mind that there can be complications which could add to your budget, a few of these are as follows:


The Server Goes Down

If this occurs you need more than one server running. If one server goes down, this means the others can take over.


There Are Too Many Services Running On The Server

This can cause a multitude of a mess, but tech like Docker can help you “package” your application using code.


Lots Of People Are Using Your App

One of the more positive problems, if your mobile app is too popular this could cause it to crash. You can either run a bigger server which is vertical scaling or you can build the app so many smaller machines can process the work independently.

If your app sees a spike in popularity, you need to be aware of scaling up and down on demand and make the most of cloud providers. They are popular for a very good reason! As cloud providers allow for scalability this can help directly in a technical and financial sense.


Issues With Performance

If there are problems of this ilk, it can be an optimization issue. If this is not the problem, external services can improve the architecture and reduce complexity.



THE BENEFITS OF AN APP

You put your heart and soul into developing your application and now you need to see the fruits of your labor come to life. Target your niche market just right and there can be a constant recurring revenue depending on the download numbers.

If you expand your mobile app effectively you can tap into the global market. It's vital for you to start local and conduct market research but also bear in mind the benefits of localizing your release. Having different language packages can increase the spread.

If you incorporate in-app purchases, as many do, you can start to employ upselling and cross-selling tactics. Many apps tease the customer by encouraging them to download a free version but in order to get all the benefits, they must purchase a comprehensive one for a fee.




CONCLUSION

As you can see, building a successful money-saving app is a lengthy and comprehensive process. Creating the app comprises four key stages and deploying can be a timely process, not to mention the business acumen needed to expand it into global markets, it's not for the faint-hearted.

In these money-conscious times, we need the right technology to see us through. A money-saving app can do a lot of work for us. Are you one of those people who struggle to look after your finances? Having the right app to help you out is a godsend for most people.

So many of us feel the pinch in these money-conscious times that the right app can be a lifesaver. For those people who are looking to build an app that captures the spirit of the times, a mobile banking app does so much.

Ready to start your venture? Contact us and get a free consultation on how to build your app that users will love.

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