Contact us anytime to know more - Abhishek P., Founder & CFO CISIN
Social media apps offer us many benefits, from sharing thoughts to staying updated with news and gossip. They also allow you to date someone. For this reason, entrepreneurs and startups struggle with the cost of developing social media apps. Even angel investors want to create the next Facebook and Instagram.
The digital world is growing rapidly, and no one wants to be left out of it.
Is It The Right Time To Create An Application For Social Media?
Reports claim that more than 90 percent of millennials use social media. In comparison, 80 percent of the business market uses social media. Social media users are expected to reach 4.89 billion by 2020, thanks to the growing power of social networks.
Business Insider reports that the US online retail market will surpass $50 billion by 2023.
People confined themselves within their four walls during the Pandemic. They could stay in touch with family and friends via video, text or chat. Social media has become a great way for young people and singles to meet new friends and learn new skills.
No matter where they lived in the world, they were able to keep in contact with friends and relatives. Social media is used by charities and nonprofits to spread awareness about certain topics.
It is safe to assume that social media app usage will continue to grow. How much will it cost in 2023 to create a social media application?
Building a typical social media application can range from $30,000 to over $1,000,000.
The cost of developing social media apps depends on many factors, including:
- You can also Design Your Own
- Complexity of Features
- Compatible with all devices
- The Security of Your Own Home
- Testing
- Maintenance etc.
You're trying to find the right social media app for your new concept. We'll cover the cost of social app development in this article. We have covered social media apps' cost by trends, features and the types of applications available.
The Top 10 Social Media Apps for 2023
Social media is now an integral part of modern society. Around the globe, 4.9 billion users are estimated to be using social media. This enormous number shows how social media has become a major part of everyday life.
We have listed below the most popular social media applications in order to give you a better understanding. They are:
1. Facebook
Facebook, with a total of 2,91 billion users, is at the top of the list. The idea of social media was first introduced by Facebook. Meta is the new name for this platform, but its old name still holds a lot of popularity.
2. YouTube
It was originally created as a way to archive videos. Today, YouTube is one of the most popular social media platforms. Youtube lets anyone upload their own videos or content to the internet. It is a platform so popular that many content creators have made a career from it. Youtube currently has around 2,56 billion users.
3. Whatsapp
Whatsapp, a much better version of apps like BBM Chat, Ebuddy chat, and others, is the most popular peer-to-peer messaging app. This service uses the Internet to link people using their contact numbers. Whatsapp is a social media platform that has a user base exceeding 2 billion.
4. You can also Instagram
Instagram is a long-standing part of social media. It has recently gained more popularity. Users can upload photos and videos to be viewed by anyone or any group of users depending on their privacy settings. Instagram, which has a 1.47 billion user base, is also part of Meta's ecosystem.
5. WeChat
WeChat is one of the first applications that has surpassed $1 billion in users. This is a Chinese application that was developed by the same people who created PUBG, i.e. Tencent. The platform has a current total of 1,26 billion users.
Types Of Social Media Apps Will Be Developed In 2023?
You should first define what you want, find a niche that fits your idea and have a clear vision. Then, choose the right app category. We'll start by figuring out which social media apps are available, then we will identify the audience and competitors.
Custom Social Networking Applications: Facebook and LinkedIn
App Cost: Around $115,000
Features: Post ideas, videos and photos, share them with others, or inform people about real life events and activities.
Media Sharing Networks: Instagram Snapchat YouTube
App Cost: Around $70,000
Features: Users can share live video, photos and videos.
Web 2.0 Content Platforms: WordPress and Medium
Cost of App: between $35,000 and $50,000+
Features: Blogging
Discussion Forums App: Reddit and Quora
App cost: between $20,000 and $88,000
Features: Ask questions and receive answers from professionals.
There are many other examples.
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Social Media Application Costs Based on Features
Costs of creating a social network app are heavily dependent on the features and functionality. It's better to create a Social Media App with a minimal viable product (MVP) that has basic features, and then add more advanced features.
Launch an MVP version to collect feedback and make further investments on your social media app.
MVP simplifies things. Spending less to create a Social Media Apps Skeleton is a great way to save money before launching the app. You can use MVP to track user responses and make better decisions, without spending much money. It sounds safe.
Three Major Factors That Influence The Cost Of Mobile App Development
1. App complexity
App development costs are heavily influenced by the type of app you create. The more complicated the feature is, the longer it will take app developers to learn and implement that technology.
Your mobile application may be classified into the following categories, depending on how complex the features are that you want to include:
- Basic App
- Apps for Simple (Simple app)
- Apps that are complex
Here's a breakdown of each app.
Basic Applications
Simple apps usually have 3-4 screens, and are published only on one platform. This can be web-based, iOS or Android. The content is usually static compared to simple apps or more complex ones.
Basic social app development solutions includes some consumer apps such as:
- Applications with static content
- Scanners
- Education Resources
- Apps for taking notes
Simple mobile apps are usually easy to develop and have a common interface. Simple mobile applications can have features such as:
- Sign up
- Search Engine
- Basic Messaging
- Create and edit profiles
These functions are often common in most apps and require less time to be implemented by app developers, which reduces the cost of mobile app development.
Simple Applications
Simple apps may have more features. A custom interface or data storage may be required, which will make the development of this app more complex and expensive.
Simple apps are basic apps with more dynamic content. This means they can be customized. They also use existing APIs in order to provide more functionality than simple apps.
Simple apps that have extra features are examples of mobile apps.
- In-app purchases
- Push Notifications
- Tracking your location
- Payment portals
- Share on social media
- Geo-location
- Biometrics, face ID and other advanced security measures are available.
Read More: Social Media Startups that failed and the Lessons Learned in 2023
Complex Application
Complex apps are web and mobile applications that require more sophisticated features. They also have high-level interfaces. The apps are often used on multiple platforms. This means that there is a greater variety of scenarios. Examples of complex applications include CRM, gaming, and other apps.
Some of the features which may complicate your Android or iOS application development include:
- Online streaming
- Audio or video calls in the app
- Complex messaging
- New features
- Social media feature other than a share option
These apps require more time to plan, test, research and develop, as they have more complex requirements. You can only determine app development costs after thorough planning.
To ensure smooth development, developers need to create a foolproof plan. They should also consider a number of factors. These include creating visual dashboards, determining how many servers are needed and selecting the best tools and platforms.
As a result, developing complex apps requires a large budget. It's for this reason that large, well-funded companies are more likely to request complex apps.
There are a number of things that you can do in order to reduce the initial cost for your prototype. Later, I will elaborate on this, but let's look at the second major factor that affects the cost of building an app.
2. App Design
The cost of an app will vary depending on its size, complexity, and type. We believe that 'visual scope via design' is a more effective first step than "costing through requirements lists."
We know that your requirements can drastically change once you have a better idea of how your app will work in your hand.
Every single app idea evolves during design. As soon as you see something come to life, you begin to think of new ideas and ways to improve it. Even people with very clear visions will refine or evolve their concepts during the design stage.
With changes in the design of your app, you'll see a difference in costs for web-based, hybrid, or native apps.
We always sketch as part of the initial design phase before providing an estimate. Our designers create wireframes of your app. It helps your team and you to better visualize the final design and understand how the UX flows in the app.
You'll be able to use your interactive prototype, which is of the highest quality and standards in the world, as a tool for raising capital. Many of our startup partners have achieved multi-million dollar apps by following this path, including Good Empire.
Our design prototype was used by the social challenge app to present their ideas to investors on Birchall and to crowdfunding sites.
What is the result?
The Good Empire raised $1.5 Million without any development and attracted more than 1000 investors.
3. App Platform
Are you targeting Android or iOS users? Do you want to target Android users? Windows Phone Users?
All three options?
The cost of developing your app is heavily dependent on how many platforms you plan to launch it on.
Apps for iOS and Android are in two different languages. Swift is the preferred mobile programming language for cisin developers when building apps for iOS. If you are building an Android application, Kotlin and Java will be the programming languages of choice.
You must develop separate native apps for each platform if you want to create an app for both.
While there are many cross-platform options, such as Titanium or React, the work involved is just too great.
You don't need to spend millions on an app, especially if your startup is just getting started.
Apps should be as light as possible.
Cisin is a company that believes in this philosophy. Our partners and we work together to make sure that the costs are kept as low as possible. You have full control. We will help you create a feature list and let you develop the features you desire.
You can then control your budget and keep it at the level you desire.
Let's look first at the rough range that we, at cisin, have come up with.
What Is The Cost Of Developing With Cisin?
Cisin bases its monthly rate for app development on the team composition. In other words, the time your team spends on your project is what you pay for. You pay your team for their efforts to create each app feature.
How it works
- Our business analysts will determine the size of your development team and its structure after the design phase, based on both your app's complexity and goals.
- Cisin will never tie you to a contract, even if they provide a top-notch app. You will still own the interactive prototype, even if you decide not to proceed.
- Our BA will produce a road map if you choose to continue with Cisin. This document outlines the scope of each feature and an estimated timeframe.
- You are not required to adhere to the timeline because you only pay per hour. You can prioritize the features that you would like to have first, and you will be able to control your budget.
Don't Spend Too Much Money on Mobile App Development
- Reduce features or create a MVP that is leaner
- Switching from iOS to Android
- Develop a Web App instead of Mobile App
- Hidden costs
1. Reduce features or create a MVP that is leaner
It's not necessary to include all of the features you plan for your app.
Some of these features may not be necessary. You can reduce the number of features that are unnecessary. We'd also advise that you define your Minimum Viable Product (MVP), first.
You can save money by defining an MVP and avoiding adding unnecessary features.
It's crucial to ensure that, during the first stage of development, the new features solve the core issues faced by your audience and market. As you start to see results, it's time to expand your app.
Take the dating app sample above again as an example.
Jes Geverola is one of our Business Analysts and he suggests that to lean the app up, you remove the video calling function during the MVP stage. The sample app is still functional even without this specific feature.
Total Estimated Development Weeks for a Lean MVP (without Video Calling). 16 weeks or 4 months
You can reduce the development timeline by up to 8 weeks, and therefore minimize costs, by removing video calls.
Our lean strategy with a MVP enabled us to enable many partners to accelerate their time to market, and to realize an exponential ROI.
2. Choosing between iOS and Android
We mentioned that the number of platforms is a major factor to consider when determining the cost of an app. Costs will increase the more platforms you have.
In the beginning, you should try to identify the device that your audience is most likely to use.
Android or iOS devices? Or iOS devices?
You can then launch the app on a single platform. If you see a positive response and think that there is a demand for your app, then you can later launch it on a second platform.
3. Instead of developing a mobile application, you should develop a web-based responsive app
The strategy worked with MyDeal - one of the existing clients who decided to add Amazed as a web app marketplace. Responsive web applications can be used on all types of devices, from mobile phones to desktop computers.
Responsive mobile apps offer the best solution if your goal is to not tap into all of your users' phone features.
Install them by adding the apps to your home screen from browsers. You can also package and upload these apps to the Play Store.
iOS does not allow this. Depending on circumstances, there may be web-conversion fees. Cisin can give you credit for development if we partner together.
If required, some apps could be created as progressive web applications. However, we'd need to purchase a Baseplate in order to do this.
4. Avoiding hidden app development costs
App development costs are usually only included in the design and development phases. Ask your app developer about these questions to avoid surprises.
- Fees for Third-Party Integration
- Costs of installation
- Launch Costs
- Maintenance costs for apps
- Infrastructure costs: CDN (payment for servers, server rental, etc.)
- Costs of management and administration
- App marketing costs
Choose The Right App Development Partner
When you consider outsourcing the development of mobile apps, you need to work with an experienced team that is reliable.
Follow these guidelines to find the best app developer for you:
- Find a firm with extensive experience
- You can also ask about the development methodology and process.
- Check out their Portfolio
- Make sure the company is well versed in both backend and frontend development
1. Find a firm with extensive experience
You want professionals with years of experience who know exactly what they are doing.
It's important to research the developers you are considering and look at their past projects. You should talk to developers you're considering, and check out their previous projects.
It is important to find a partner who shares your values and style. This will maximize your success chances and make the experience smooth.
2. You can also ask about the mobile development methodology and process.
A good team of mobile app developers will have a well-established and streamlined development methodology and process. It's an alarming sign if the mobile app development company that you are screening does not have one in place. Stay away from these companies.
Ask app developers about their methodology and development process. Ask them the following 5 questions.
Cisin, a company that specializes in full-journey mobile app development, follows the following steps to provide our clients with a seamless end-to-end service:
- Idea
- Drawing
- Ballpark estimates
- Wireframing
- Road mapping and project scoping
- Build and deploy a development team
- Kanban development (code - QA - approve - repeat)
- Growth Planning
- Product launch
- Retainer services (optional maintenance and support)
3. Check out their Portfolio
Only by looking at their previous work can you get a sense of what to expect. Review the apps that they've designed and created from scratch. Determine if you would like your app to have the same look and feel.
Cisin's portfolio includes businesses of all sizes, from small startups to large enterprises in various industries.
4. Make sure the company you choose has experience in both front-end and rear-end app development.
It's not worth having an app that is highly functional and packed with features if it has a bad design. Likewise, it's not worth working with a partner who has a great design background but a poor understanding of back-end programming.
It is therefore important to ensure that the app developer you choose has extensive experience in both front-end and rear-end programming. You can then be sure that your partner will take care of everything from start to finish, rather than outsource a part of it.
Want To Know More About Our Services? Talk To Our Consultants!
The conclusion of the article is:
We have finally come to the end of this article. How much will it cost you to create a Social Media app? All the costs that go into the development of a Social Networking App have been included.
- Your target audience and the type of app you use.
- Focus on the main features and functions.
- Add-ons based on complexity of app.
- Need for an app team to create a high-quality social media application at the lowest possible price.
It can be both challenging and fun to create a social media application. You can have a social media app that is successful if you follow a well-organized app development process. Where do you begin?
You can get the social media app you want if you contact the top app developers. They will evaluate your needs and provide the most suitable solution. Cisin a Social Networking App Development company, is ready to help you.
