Superapps: what does it mean for your organisation?
Superapps are becoming increasingly popular and will increasingly become the norm in the near future. What are the benefits and challenges of this rise for businesses? And moreover; how can you capitalise on it now?
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A superapp is an all-in-one mobile application that offers a wide range of services beyond their 'core service'. The concept of superapps originated in Asia, where apps such as WeChat and Alipay have become incredibly popular. WeChat, for example, started as a messaging app, but has since expanded to include features such as mobile payments, e-commerce and more. Alipay began in a similar way as a payment app, but now offers a range of financial services, such as insurance and wealth management.
Benefits of superapps
Gartner named super apps as one of the leading tech trends of 2023. Not only because they are convenient for users, but also because they offer a lot of benefits for businesses.
First, super apps can help increase user engagement and retention. By offering a range of services, users are more likely to stay within the app, reducing the risk of attrition. Superapps also allow companies to cross-sell and up-sell their services, increasing revenue and driving growth.
Superapps also provide valuable data insights for businesses. By tracking how users behave across a wide range of services, companies can gain a deeper understanding of their customers and tailor their offerings accordingly. This can lead to more personalised experiences and higher levels of customer satisfaction.
Challenges of superapps
However, there are also challenges associated with super apps. The biggest challenge is ensuring that the user experience remains seamless and intuitive. With so many services within one app, it can be easy for users to become overwhelmed or confused. It is important for companies to carefully design their superapps, ensuring that the user journey is smooth and well thought out.
Another challenge is the potential for superapps to become too dominant, hamper competition and limit innovation. Lawmakers around the world are starting to pay attention to super apps and some are calling for increased regulation to prevent monopolies. That monopoly also poses a threat to competitors. Once most customers are in the ecosystem of a superapp, they will prefer the competitor within the superapp over your services out of convenience. Therefore, it is smart to do preparatory work now for the arrival of superapps.
The future is modular
Superapps are huge apps made up of all kinds of microservices and modules with specific functions. Therefore, for organisations that want to build or be part of a super app, it is essential to start thinking modularly.
Modular software is an important step for organisations looking to build or be part of a super app. With modular software, companies can easily add new features and services in an organised or 'modular' way. This helps keep the user experience as simple, intuitive and consistent as possible. By breaking down the software into multiple modules, companies can quickly roll out new services and respond to customer feedback.
In short, super apps have the potential to revolutionise the way people access services. Your organisation's too! By building modular software now, you create the foundation to create super apps or join one. By tracking user behaviour and tailoring their offerings accordingly, companies can better understand their customers and create truly personalised experiences.