In today’s piece we look at how insurance agencies should take notes learn Google and Apple in staying ahead of the pack
There has always been an intense rivalry between Google and Apple to be the leaders in the smartphone market. Nowhere is this more apparent than in their competition for exclusive apps. Even though Apple iOS was the first smartphone to offer its users downloadable applications (apps), Google Android has been able to hold onto the top position for market share for the last few years after adopting Apple’s idea. One of the largest distributors of Android-powered handsets is Samsung and it poses a considerable challenge for Apple iOS. Its products are significantly cheaper and they allow users to download most of the same apps as Apple from its Play Store.
Recently, Apple has upped its game to a whole new level and has started making deals with top app creators offering them key placement in its app store for new games and facilities in exchange for more exclusivity. Google has begun to follow suit and now there are lots of apps that come as standard for the latest smartphones. The recent launch of the iOS 7 saw the popular flashlight app become standard which was met with a mixed reaction. While it makes financial sense for both the app developers and Google and Apple, it makes it more difficult for customers to choose between each smartphone. Everyone has their favorite apps but they are now being forced to consider buying two smartphones in order to gain access to all of them. The alternative is to wait until their preferred brand of smartphone has acquired exclusivity to their favorite app. Nevertheless, other consumers have welcomed the move, as they no longer have to pay for the apps.
It is not surprising that Apple has decided to focus on gaining exclusivity to popular apps in order to attract new customers. According to a study by research firms IHS and App Annie, users spent a massive $16 billion on mobile apps in 2013. The lesson for other firms is to think outside the box. Do a lot of research to find out what your customers are looking for and discover how to meet their needs. You need to be innovative in order to dominate your industry. Invest more money in making your products more unique and more time in marketing these important changes to your customers. It is also essential to sell your revamped product or service at an acceptable price that takes into account market demand. If it is in high demand then you can make the product more expensive. However, if your competitor is undercutting your price then you will need to reevaluate. Your priority must always be to maintain the best relationship between quality and value for money. This is key to every company’s success.
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