WhatsApp is the ideal example to give when it comes to communication mediums and over the past decade, the platform has managed to cross over 2 billion users and is projected to further grow in the coming years.
The insanely popular platform has been ahead of the curve and the architecture of the app has evolved with the times. WhatsApp is the perfect case study for entrepreneurs.
Research, look around, take inspiration, and see what you can learn and adapt into your own app.
Yes. You will need a software development company houston to help strategize and develop the app.
We are talking about UX/UI designers, QA engineers, developers, product managers, and many others who are usually involved in the development process.
However, we understand that before proceeding with any plan, having a clear-cut budget in mind is important and should be. Here is what you need to know.
Cost Of The App
You need to factor in both development cost as well as the time took on a particular feature. The cost of the team you consult with will be defined by hourly wages. Here is what you will be looking at:
- Profile setup
- Messaging medium
- Media sharing
- Smart search
- Push notifications
And much more. The features we highlighted are essentials to creating an app similar to WhatsApp.
While you hire an Android application developer, be mindful that each of these tasks usually takes anywhere around 40-150 hours.
In total, building an MVP (minimum viable product) from scratch – it can take up to 1238 hours. And the final cost can be figured at around $35,000.
But these are rough figures and the actual cost can vary a lot. Be mindful of changes and improvise on the go.
Take a look at the scale for hourly wages around the globe:
- North America: $2-80
- Western Europe: $10-57
- Eastern Europe: $5-27
- South Asia: $6-34
And this is a wider scale where factors such as junior, middle, or senior level are not considered.
Once we go in-depth and judge candidates based on their level of expertise, the figures would be much more accurate.
And once you get to the complexity and start working on features such as end-to-end chat encryption and instant video calls, both the cost and the timeframe will increase.
But figures show us that over 100 billion messages are sent every day through WhatsApp. And we believe that a secure chatting medium has built helped in building trust for users.
Monetization Models
Firstly, you need to understand your audience before you move to the monetization stage. Research and see what they are willing to pay for.
An app developer in NYC or elsewhere can easily craft the app according to the following models:
- P2P payments
- In-app purchases
- In-app advertising
Now, it is up to you to figure out what will align with your audience and what they are willing to pay for.
Ask questions and rely on behavioral data and personal information to understand consumers in a better way.
Forbes estimates the revenue of WhatsApp to be around $27-29 billion in 2022 alone.
Notice how WhatsApp is focused on going global and penetrating smaller markets.
For them, the goal is to find emerging nations that are ready to embrace what WhatsApp has to offer.
And with such a widespread demand, it is safe to say that there is room for your app as well.
Final Thoughts
An Android application development company is usually well-versed in keeping the cost of the app low and not compromising on the quality as well.
The right development company shall be willing to take ownership of the project and work in a collaborative way that ensures your app is delivered according to your vision.
