As an entrepreneur who has embraced integrating a mobile application into his business, there are several factors that need contemplation. It begins with a clear and promising vision regarding what you want to do via your mobile app.
At present, the entrepreneurs want to know the budgetary oriented details with regards to getting their mobile app developed. However, it is indeed a tough venture for any app development company to provide the most accurate info as related to the budget. The total cost depends on several factors like the team behind development, the platform for the app, the UI/UX design, QA related work and the work to get the product ultimately published.
This can increase with the inclusion of other aspects like MVP, extra features and the such.
Regarding that, it is very much wise and therefore mandatory if you gain insight into the pricing models which are used by the App Development agencies.
Related to the above statement this article will tell in detail about two of the most prominent models namely Fixed Pricing Model and Hourly Model.
So let’s get started!!
(i)Fixed Pricing Model:
As evident in the name, everything is fixed in the beginning before the work commences be it the cost, the timeline, the platform, the features to be integrated etc. There is no looking back once the actual work begins.
Here the client and the development team both are in sync with the vision and the end outcomes as well. The development team which has the needed insight now can carry out the work effectively to bring outstanding success to your product.
Speaking of the client he knows the prospects related to the app’s success and he is prepared to gamble in this.
However, this model has a shortcoming where your priority is towards budget rather than the quality in accomplishing the work. This is indeed another gamble again.
However, the good thing is that the app development companies now can deal with this shortcoming via means of a financial ‘airbag’.
Now speaking of when this Pricing Model will be the right fit for you, the following info will help you:
(a) Developing a simple app with less complex stuff.
(b) Limited budget to get the work done.
(c) When you want to include an MVP for the app’s chances to succeed.
(d) Deep insight regarding the app platform and the features to be included
(ii) The Hourly Rate Pricing Model:
This pricing model which goes by another name – Time and Material Model determines the cost by taking all the hours involved in getting the work done.
This model is popular mainly because of the flexibility it has to offer. You can make alterations as necessary even when midway into the development work so that you get the product built exactly as per your ever-changing preferences. You can completely involve yourself in enhancing the quality of your app that is being developed.
As aforementioned earlier, the overall cost is associated with the actual hours which the developers implemented to get things done along with the hard work involved as well. Depending on the progress the cost may increase or on the contrary, it may decrease if you want to remove something that is not needed. The timeline to complete the work is not fixed as well.
To know when this pricing model will be effective then the following cases will be applicable for the same:
(a) When your app idea is very vague and there is no idea when it comes to validating it.
(b) Carrying out an ambitious project that is very much sophisticated with other aspects like rigorous testing and client approval involved as well.
(c) Whenever you want to know detailed insight related to the progress of the work at that given time.
The Final Verdict:
Both the above methods have their specialties in terms of benefits along with shortcomings as well.
Going for the Fixed cost model implies that everything is fixed at the beginning itself. Another thing to be noted is that the quality associated with the work is taking a backseat.
The Hourly Rate Model offers the best product matching your desires but for a higher price.
Pyramidion Solutions from Chennai is a Mobile Application Development Company which is one of the best in this domain. One of its specialties is associated with guiding the clients to get the best out of their vision when it comes to getting a mobile application crafted perfectly. It offers clear insight right from the beginning when it comes to the vision, the pricing model etc all the way to the app launch and post maintenance.