How much does it cost to make a Facebook app?
9 minute(s) read
Published on: Mar 13, 2023
Updated on: Mar 13, 2023
Why should we design and develop Marketplace apps?
According to statistics and reports, about 17% of online transactions are done through marketplaces and social networks. In addition to this, the popularity of social networks among people is undeniable. We all know that today a large number of people have smartphones and use them to enter and use social networks. Therefore, with the increase in the popularity of social networks among people, many people may think that they should also design a social network application or Marketplace like Facebook.By having a mobile application, you can enter the business market and by investing in them, you can double or triple your capital and earn a lot of income. The advantages of market applications are listed below:
1- Multiple Revenue Streams:
Because of Multiple Revenue Streams, these types of applications are called market applications. Is there anyone who doesn't like Multiple Revenue Streams? Is there anyone who does not want to have income from different places? So, if you are someone who loves Multiple Revenue Streams, you can earn from various methods by designing and developing a market app like Facebook. In such a way that you earn through insurance premiums, advertising, commissions, listing fees, user account shares, value-added service fees, etc. For example, we can say that there are applications such as eBay and Etsy bank that earn most of their income by receiving commissions from the transactions.
2- Attracting effective customers:
Applications are online and mobile-based platforms that today a large number of people have smartphones and can use them. If you start your business through these market applications, you will have customers from all over the world and your customers will not be limited by geographical location. So you can have a large number of customers and get a lot of income. In addition to the absence of geographic restrictions for customers, the popularity of the online platform among people is another advantage that increases the number of customers in market applications. In other words, we can say that due to the popularity of the online platform and the spread of smartphones all over the world, the number of online users on this platform is high and they can visit your market application. Among those who visit, some of them may be encouraged to make purchases from you. Among the people who made purchases and became customers, some of them may do it again and become loyal customers.Therefore, it is easy to earn money through market applications such as Facebook. It doesn't matter if you want to start a market app like Facebook or have a sales business that wants to earn income through this application. In any case, earning income in this way is easy and good and has a large number of customers.
3- Analysis of user behavior and sales:
Nowadays, many tasks have been done using software or automation, and this has made things easier. In this way, in the use of market apps, there are capabilities to analyze and analyze the behavior of users, customers and other data. Based on the results of the analyzes that are done, business owners can easily make decisions to improve their business performance.By collecting data and then analyzing them, it can show the results in the form of graphs and statistics and show us the number and best-selling products, the right time to buy, user and customer behavior, etc.Different business types for Marketplace appsUsing Marketplace applications, different types of businesses can be launched, so that people can make their purchases through them. Businesses that can be launched in Marketplace applications are as follows:
One of the businesses that can be set up in this type of application is buying and selling or business-to-business cooperation. This type of business is such that a business owner buys services or goods from other business owners and then sells them to users who are consumers. In other words, the way this type of business works is to purchase services and goods from wholesalers and manufacturers who are business owners themselves, and then the goods or services are sold to users who are consumers at a price It is sold a little more.For example, Amazon is an example of this business, which in some cases operates as B2B. Of course, it is also worth mentioning that according to reports and statistics, the share of B2B in market applications will be around 1.8 trillion dollars. This statistic shows the importance and impact of B2B.The advantages of this type of business are as follows:- Having stability in sales due to repeated transactions.- Large amount of purchase orders and sales orders- Prospects for easier penetration in the market- Not advertising a lot to buy and sell products
Another type of business that is common in market applications is B2C. In this business, the buyer is in direct contact with the seller, and most of the selling process is retail. In this way, by buying a pair of shoes or clothes from the seller, the buyer and the customer are in direct contact with him and are doing B2C business. This type of business is one of the most common types of business and the convenience and needs of buyers are targeted in this type of business.For example, Facebook, Amazon and AliExpress are B2C businesses in many cases and they are very successful and earn money in this work.- The advantages of this type of business are as follows:- The process of buying and selling products is simple and easy- Fast business can grow- It is possible to reach a large audience in this way- You can easily turn users into customers and customers into loyal customersThe disadvantages of this type of business are as follows:- In this type of business, competition in the market is aggressive- It is difficult to afford the infrastructure of digital markets for those who are just starting out- A lot of budget is needed for marketing
3- P2P or C2C:
The third type of business is in market applications that give individual entities the ability to communicate with each other and engage in buying and selling. For example, for this type of business, we can say eBay and Craigslist, which by creating an opportunity in their business, they can be both consumers and sellers. In other words, they can sell products to people, and in other cases, they can be consumers and buyers themselves and buy products from other sellers.The advantages of this type of business are as follows:- There is no need to pay additional fees for buying and selling- Transactions can be done directly without intermediaries and fences- User segments in this type of business are wide- The disadvantages of this type of business are as follows:- The problems that can arise in this type of business are the problems of not matching products or services- There is a possibility of fraud in the payment process
How much does it cost to design and develop an application like Facebook?
If you have read all the information listed above and decide that you also design a market application like Facebook and invest for that application, you may be curious about how much money is needed to do this and how much capital you need to do it. put In this section, we will tell you the costs needed to do this.
1- Application wireframing costs: Application prototyping is like a food menu. Before you receive the original and final version of the application, they will prototype it for you. The cost of wireframing a market app like Facebook is about 700 to 1100 dollars.
2- Application design cost: In order to design a good application for you so that it can succeed in competition with competitors and become popular among users, you must cooperate with a professional team so that they can master new tools and technologies. Design a great application with good features. The cost of designing an application varies according to the amount of capabilities and features, but on average, the cost of designing a market application like Facebook with normal features and capabilities is 6,500 to 9,500 dollars.
3- Application development cost: Many people may think that after designing the application, cooperation with the programming team is over. But this is not the case and after designing the app, the programming team must develop it and update it with new technologies. If this is not done, the application has a problem and may no longer be able to provide services. The usual cost for app development is about 15,000 to 40,000 dollars. Of course, apart from developing the application, you should also test it to make sure of its proper functioning. Share it with users after making sure that it works correctly. The cost of testing is also about 4000 to 5000 dollars.In general, it can be said that the total cost that you have to pay for the design and development of a market application like Facebook, with good capabilities and features, is around 25,000 to 60,000 dollars.