You own a business, and you need to involve your customers. Would you prefer a subscription based sowfatre that is already available in the market, or would you get custom software developed for your business?
This was a dilemma that I had to face once I stepped into the world of entrepreneurship. Just like any other business owner who is desperate to squeeze more juice from the capital to maximize the profit, I chose to buy a subscription from the third-party software.
I mean, who wouldn’t like to save some bucks, get the cheapest deal, and get ready to use software? All you need to do is get a steady internet connection like Optimum Internet. Hook things up, and you are ready to start your business.
Easy, right?
I thought the same.
The result was disastrous. While our in-house team was busy bringing in more sales and increasing the number of customers, our third-party software was busy pushing customers out. Within just one year, our overall retention was nearly 2%. To cut it short, we were losing customers at the speed of light.
Within 1.5 years, we were recommended to shut down operations. My mentors in the industry explained that business ideas were powerful, but our execution failed to impress customers. Our user experience was rated below par, and our overall business bled almost everything that it had.
Now, if you are a business owner with a dream to excel, my recommendation is to only go for custom software development. From staying in control to offering the best user experience to the customers, you can potentially add value to the business-customer relationship. Moreover, you can retain customers for long run and stay profitable.
If you are second-guessing the importance of Custom Software Development for your business, here is everything that you need to know.
What is Custom Software Development?
Custom software development is the best, easiest, and most sought-after way of delivering completely tailored software for any business. From simple software that can be replicated easily to complex software that has layers of features, you can get everything that fits the needs of your customer.
Here are some of the pros and cons of custom software development.
Pros
- The software will be 100% tailored based on the requirements of the business
- You will become a major stakeholder in helping the software evolve based on your requirements.
- The customized UX and UI will help in reducing the learning curve
- You can improve the security and safety at any given time.
- You can have patents and copyrights of the features which can be sold later
- You can integrate third-party technology and plugins based on the needs of your business.
Cons
- You need your own customer service to address software issues
- You need to stay ahead of the curve to under the ongoing trends
- It is relatively expensive
- You need a tech team for development and maintenance
Top 5 Trends to Lookout for in the Future
1- Progressive Web Apps
Do you ever notice that most companies have websites, but for mobile, you need to download thier app that has more features and is much easier to use? Well, in the future, companies will only roll out progressive web apps. These apps will bring all the features together, and they will work for both phones and laptops. You do not need to download web applications as they can be accessed through a web browser. The best thing about these progressive web apps is their responsiveness. Based on the needs of the user and the device they are using. The app changes the layout on the basis of the size and capabilities of the device.
2- Blockchain and web3.0
The biggest concerns within the online business community are safety, security, and privacy. It is expected that in the coming future, the biggest ransom cases will not be related to human life, but rather, they will be about business. From identity theft to online business hacking, security concerns will spike. To deal with this issue, most of the custom software development companies are shifting to blockchain so an extra layer of protection can be added to the company data.
3- Evolution via Machine Learning
More companies will opt for machine learning and AI integration so they can learn about customer response and consumer behaviors and let the software evolve based on that. This will help in reducing the need to keep up with the trends and execute frequent changes. Moreover, with the automation of the software, maintenance issues can be resolved and minimized as well.
4- Microservices Architecture
More companies will shift to Microservices Architecture systems and reduce the software launch time. While most companies take longer coding, QA, and launching time, this new trend is helping companies to divide their modules and features. Eventually, everyone gets to work on one feature to roll it out and launch it for the public, and only then do they get to move to the next phase. This helps in simultaneous launching and use, shrinking the waiting time for companies and customers.
5- DevSecOps
As mentioned earlier, security threats for online businesses are on the rise. To deal with this issue, more companies are opting for advanced technology. One of the most used things will be DevSecOps, which will help in adding more protection to the company data. This not only helps in the safety of data but also helps the software to easily adapt on the go.
Wrap Up
As technology is getting into the advanced stage, more companies are using sophisticated fully custom software for their advantage; even two rival companies offering the same services are judged based on their software. With the above-mentioned trends, more companies will be able to improve their customer retention ratio.
FAQ’s
What kind of companies should look for custom software development?
All kinds of companies, regardless of the service and product, can look for custom software development.
What kind of tech is used for custom software development?
Custom software development uses tech languages like AngularJS, React, Bootstrap and jQuery, NodeJS, Java, spring, and PHP.
Why custom software development is the future?
Custom software development is not just good for the retention of the customer but also helps in maximizing the profit by keeping the data safe and improving the user experience.