The Easiest Way To Launch An On-Demand Solution

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:

  1. Any gaps and voids in the demand-supply bridge
  2. The niche of your on-demand solution
  3. The projected growth of such solutions
  4. Consumer expectations and receptivity
  5. Features and Functionalities
  6. Your budget for solution development
  7. 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:

  1. Number of active users
  2. Gross Margin
  3. Burn Rate
  4. Conversion Rate
  5. Customer Acquisition Costs
  6. Consumer Lifetime Value
  7. 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. 

Not only can this approach save you the costs of hiring specific professionals, but provide greater assistance in terms of a tailored approach. Setting up the terms of use, social handles, web domain, and app store approvals all become relatively hassle-free when the professionals have your back. Since they take care of the testing, modification, updates, and debugging, launch day would be a breeze while your team can simply assume control of the back-end.

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.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

How to Ease the Burden of Operations in an On-Demand Solutions Industry

The COVID-19 pandemic has ushered in a new age of on-demand customer experiences characterized by unprecedented speed and efficiency. As customers around the world grow to expect immediate provisioning from their product and service providers, the on-demand economy continues to flourish. In fact, according to a recent PwC report, the market value of the on-demand app economy is expected to reach a staggering $335 billion by the year 2025. 

With the overwhelming growth of the on-demand economy promising to create better business opportunities, the burden now lies on the Operations Team to achieve the necessary speed and accuracy for each delivery. The heroes working in Operations are solely expected to handle numerous issues that may arise in the on-demand business. This leaves them with a sense of ineffectiveness as challenges pile on. To lessen the burden of the Operations Team and enable them to make proactive decisions, sophisticated on-demand applications that integrate adequate technologies are a necessity.  

On-Demand App Development Overview

For organizations aiming to enter and flourish in the on-demand economy, a well-crafted on-demand application is fundamentally integral. According to the U.S. Census Bureau’s American Community Survey, American consumers spend approximately $57.6 billion in the on-demand economy annually. These numbers highlight the immense recent growth of the on-demand industry. It is clear that massive value can be generated by developing a successful on-demand application.

An application developed for the on-demand industry requires a host of unique features depending on the exact service. Besides a visually appealing and friendly user interface, an on-demand app essentially requires order tracking features, a detailed map, order history, vendor profiles, recommendation engines, push notifications and multiple payment gateways for ease of use. Since monetary transactions are at the core of such applications, strong cybersecurity features are also a requisite. Other features such as reviews and ratings and in-app chatting further add to the appeal of on-demand applications. 

To additionally ease the duties of the Operations Team, a real-time analytics feature to manage fleets is integral. Customer experiences are at the forefront of the on-demand industry. Thus, the Operations Team is expected to provide immediate solutions and unparalleled efficiency. A constant feed of relevant information can be leveraged to make real-time decisions, adding to the overall customer experience. Being able to analyze routes, traffic patterns and possible shortages in real-time can be a much needed feature to thrive in this industry.

Catching Up With Costs

The cost of developing an app for the on-demand industry is largely determined by the hours of work needed and the functionalities required. A custom on-demand app is widely expected to take anywhere between 2,670 – 3,720 hours to fully develop and deploy. The hourly rates in the U.S. for developing such applications range from $100 to $250 an hour. Hence, developing an on-demand application tends to be more expensive than the average software solution.

Globally, developing an on-demand solution application can cost anywhere between $53,400 for a single platform project to $930,000 for a refined cross-platform application with a plethora of features. Advanced technologies such as real-time insights, recommendation engines and in-app payment gateways take substantially greater time to be integrated into an application but are essential for large scale on-demand apps that cater to wider audiences. Sophisticated technologies, in terms of real-time insights and hyperlocal analytics in particular,  have grown in prominence during recent times as speed, accuracy and efficiency become paramount characteristics for an enterprise in the on-demand market. 

Guide to Creating Your On-Demand Business

Launching an on-demand business application requires you to follow a number of steps. The process includes designing the application, analyzing the market for opportunities, development and implementation of the app and then finally QA testing and stabilization. A few key imperatives are as follows.

  • Choose Your Market: The on-demand industry consists of a broad range of subdomains covering fields such as food delivery, retail, healthcare, groceries, cosmetics and taxi services. Before you enter the on-demand economy, identify your niche market and integrate the particular necessary features. 
  • Identify the Target Audience: As per an HBR report, nearly 49% of on-demand service users are Millennials. The age group between 35 and 54 make up another 30%. Your on-demand app has to appeal to the audiences most likely to use your products and services, especially the Millennial population that dominate the on-demand customer base.  
  • Start Locally: To create a successful on-demand application that is not only aesthetically pleasing but also successful, you have to begin at a local level. By catering to a smaller area and a denser population , you can test concepts, strategies and advertisements. This also allows you to test features individually and start with an MVP.
  • Find Your Features: As discussed earlier, the features you decide to include in your app are determined by your overall product and service portfolio. For a taxi service such as Uber, advanced solutions like real-time insights, traffic data, dynamic price calculations, fleet tracking and route optimization are all essential. The same features may not be necessary for a small scale cosmetics delivery application. 

In Conclusion

In today’s on-demand world, the pressure to provide quality services is unrelenting. With ever-growing customer expectations, it becomes increasingly difficult for the Operations Team to provide accuracy and efficiency. Developing an on-demand application can be the optimal strategy to ensure your Operations Team has a strong backbone. Such applications enable your organization to thrive in this blooming new industry. By leveraging modern advancements with real-time, data-driven insights and integrating these features into a comprehensive application, your enterprise can scale up to reach unfathomable possibilities.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.