Business Networking App: Cost,Features and Factors
In today’s business world, networking is essential for success. It’s not just about what you know but also who you know. With the rise of technology, business networking apps have become increasingly popular. These apps make connecting with like-minded professionals and expanding your network easier.
This indicates a growing demand for such applications. Moreover, it sparked the curiosity of investors who wish to learn the price of starting a business networking app before investing in one. The cost of developing a business networking app ranges from $45,000 to $80,000, depending on a few contributing elements.
Therefore, before you dive in and download the first app you come across, it’s essential to consider the cost, features, and factors that come with business networking apps.
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Factors Affecting the Cost of Developing a Business Networking App
To answer the business networking app development cost, it is necessary to thoroughly understand the project, including the desired outcomes, needs, and goals.
However, manufacturing one ranges from $45,000 to $80,000. Here are some of the elements that influence the cost of developing a business networking app:
1. Features and Functions
The cost will vary based on how many features you incorporate into your mobile app. Apart from that, the complexities of developing on-demand business networking software with advanced capabilities will also be discussed.
The features of a business networking app are the key factors of how much it will cost to develop a professional networking app. As a result, when using the app’s initial version, focus solely on its core functions.
2. Platform Selection
Regarding on-demand business networking app creation, remember that producing an app for the iPhone is more expensive than developing an app for the Android platform. You can also choose cross-platform app development to improve user engagement across many platforms.
Explore building a business networking app! Learn more.
3. Team Location
The location of the development company has a significant impact on the cost of creating a LinkedIn-like app. The price of professional networking app development is determined by the country or countries you select to outsource your app development project. For example, a development agency in the United States may charge you more than a development organization based in Western Europe.
It will be far more cost effective to outsource the app development process than to hire a single freelancer. Hiring an efficient app development business will give you a higher return on investment and a fully functional, scalable application produced by expert individuals.
4. Design Charges
Creating an app with several features and functionalities is only helpful if it is user-friendly. As a result, the design team should prioritize making your app’s UI pleasant and user-friendly.
The three phases of UI/UX design services that can be used to calculate the cost of developing a professional networking app are as follows:
Research:
Defining the target audience, analyzing the competition, and learning about their preferences are all part of the app design research and study process.
Wireframe:
Wireframe design allows you to visualize the layout of your pages, navigational elements, and the relative sizes of the app’s components. In some aspects, a wireframe mirrors the structure of your finished app.
Prototype:
An app prototype is a barely functional interactive app demo used to get stakeholders’ feedback at the beginning of a project’s life cycle. (Read more about Android vs iOS: Differences and Comparisons in App UI Design)
5. The Choice of App Development Team
Hiring an app development company simplifies determining the cost of designing a business networking app. Hire an effective mobile app development company with considerable experience managing complex projects.
The strategy taken by an app development agency in developing an effective and scalable business networking app sets them apart from the competition.
Always check for the company’s portfolio, testimonials, and reviews on listing sites to learn about the types of projects and clientele they have worked with when selecting the right mobile app development team.
6. Development Period
Another essential aspect in determining the pricing of a business networking app is the time it takes to develop it. The number of developers required and the time necessary to construct a professional networking app are directly proportional. It also relies on the type of business networking app you want to create and the features’ intricacy.
Top 3 Networking Apps for Entrepreneurs
Here are some of the most essential business networking programs to be aware of:
1. LinkedIn
LinkedIn is the typical case study for Internet business networking solutions.
LinkedIn’s business concept is simple: users create profiles and develop mutual connections. Unwanted invitations, profile viewing limits, and other privacy controls are built-in.
Professionals increasingly prefer LinkedIn because it helps them develop a trustworthy network. LinkedIn offers job search ads and business training through LinkedIn Learning, but its main business is business networking.
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2. Shapr
Professionals need more fun. If you think “Common Connect” is just Tinder, think again! Shapr works like Tinder for professional networking. Shapr is one of the most significant social networking apps since it’s amusing and clever for industry professionals to connect.
Shapr matches you with professionals who share your interests and hobbies. Like Tinder, you can swipe to connect. If you reach, you can meet for coffee to discuss business.
3. Meetup
Meetup is another fun and professional networking tool for company owners that merges personal and professional demands. In addition, meetups help company owners find local people with similar interests to network and collaborate.
Get insights on building a business networking app!
Essential Features of Your Business Networking App
Concentrate on the features and functionalities that will best fulfil the needs of your target audience. Even if some functionalities are only relevant for specific platforms, most business networking programs have some characteristics in common. Let’s have a look at them.
User Registration
In professional social networks, user profiles are vital for users to build and interact with people who share similar aims. As a result, it is critical to have a straightforward and painless registration procedure with only a few clicks, allowing users to join through social networking applications such as Facebook and Gmail.
Personal Chat
Allow your app’s users to communicate with one another. Personal chat or messaging is a crucial business networking app feature that allows individual users to communicate with one another, such as employers and job seekers, entrepreneurs, and other industry professionals.
SDLC’s talented developers have designed Vyrb, a social media software that uses Bluetooth devices to allow users to send and receive audio messages. The app now includes advanced capabilities such as autoplay and well-known audio commands such as Siri and Google voice assistant.
News Feed
To enhance user engagement, social networking apps must continually create new content, such as job listings, news, videos, photos, and articles. In addition, many business networking apps, such as LinkedIn, use algorithms to ensure the content is relevant to the users.
Groups enable app users to create groups, invite or add members, and converse with others who share similar interests. The option for group creators to change group parameters, such as removing or adding members or deleting the group, should be enabled. Similarly, group members should be free to leave the group anytime.
Activity Feed
Users must interact with the content of any social or business networking application. Only by enabling the functions of commenting, liking, and sharing content will user engagement in your professional networking app be boosted. Users should be able to publish and share various types of resources, including photographs, texts, videos, and articles, personally, in a feed, or groups, using simple navigation options. (Read more about How Much Does it Cost to Create a Job Portal Similar to Glassdoor?)
How Do Business Networking Apps Make Money?
Various business networking platforms may have different monetization techniques. However, the monetization strategy of any network must be founded on a few essential concepts.
You can charge customers for successful trades using specific tools, market access, and content curation.
Take, for example, the renowned professional networking site LinkedIn. Any networking program’s three main revenue streams, like LinkedIn, our recruitment services, marketing, and premium memberships.
Nearly 75% of LinkedIn’s total revenue is generated by “talent acquisition services”. Marketing and premium subscriptions, the platform’s other two revenue streams, contribute equally to its overall revenue.
Similarly, any business networking software can charge users for premium memberships that allow them to anonymously see who has visited their profiles, send InMail messages to other users, and enroll in expensive courses to increase their skills.
In addition, businesses can utilize sponsored content and advertisements to market their services in a professional news feed.
Conclusion
Choosing the right business networking app can be a daunting task. Still, by considering the cost, features, and factors discussed in this blog post, you can make an informed decision that will help you connect with other professionals and grow your business.
FAQs
1. What is a Business Networking App?
A mobile business networking app is designed to connect individuals and businesses within a specific industry or field. It allows professionals to network, share ideas, and build relationships with others in their industry.
2. How Much Money is Needed to Develop a Business Networking App?
A business networking app’s development cost can vary based on the app’s complexity, for example, the features you want to include and the development team you choose to work with. However, the average cost can range from $50,000 to $150,000.
3. What Features Should a Business Networking App Have?
A business networking app should have features that allow users to connect with other professionals in their industry, share information and ideas, and build relationships. Some essential features include user profiles, messaging, search functions, groups, events, and notifications.
4. What Things Should Be Thought About When Creating an App for Business Networking?
To make a business networking app, think about who will use it, what it will do, what others are doing, and how much money you have. Therefore, conducting thorough research and identifying the features and functionalities necessary to provide users with an engaging and valuable networking experience is essential.
5. How Can a Business Networking App Benefit My Business?
A business networking app can benefit your business in several ways, such as helping you build relationships with other professionals in your industry, generating leads and referrals, and staying up-to-date with industry trends and news. In addition, it can help you be seen and trusted more in your field, leading to better business chances.
