How Integrating These 4 Appy Pie Features Can Increase the Value of Your Business
The value of your business is more than just your revenue. Bold words, but never before have they rung so true. Assuming you are ever looking to sell your business, determining its value is an intricate process that has a lot more to do with how your business is built, rather than how much money it is making.
Think about massive, global companies like Uber or Lyft that went public without ever turning a profit. Or a few years back when Instagram was acquired by Facebook for $1billion while boasting a mere 30 million users and ZERO revenue.
Of course, revenue is important. Very important. Profit perhaps even more important than that. But there is a lot more to a business valuation than just the dollars coming in.
For instance, at an online marketplace like Flippa, where entrepreneurs buy and sell online businesses, it is the well-built companies that achieve the greatest success and the highest valuations.
Everything from the age of a business to the traffic drivers can come into play. Entrepreneurs who are trying to acquire a business are looking at every aspect of the company and many of these can be improved upon with simple integrations like the ones that Appy Pie provides.
The first step, after understanding what your business might be worth if you were to list it for sale today, is to realize how you can quickly achieve an even greater valuation by integrating some of the key features that Appy Pie offers.
Below, we’ll talk through 4 of Appy Pie offerings that will quickly and greatly increase the value of your business when the time comes for you to sell.
- App Builder
- Automate Your Business with Connect
- Graphic Design
We don’t need to tell you how important it is to have a mobile app these days. There are nearly 8 billion connected mobile devices out there right now. That is an obscene number and if you aren’t paying attention to it for your own online business, you are certainly missing the mark.
Sure, desktops are still important and it’s often best to start development with a traditional website, but you simply can’t leave the opportunity to build an app on the table.
If you want to obtain the highest value for your business, it is critical that you take advantage of the obscenely fast-growing mobile business trends. Not only will having an app make your business look better on paper, but it will actually lead to better customer loyalty, larger global opportunities, and the chance to notify your customers anytime you want.
And what’s more? You can use Appy Pie to build an app with no coding.
There are a myriad reasons why developing an app will help the valuation of your online business, but we’ll lay out just three examples to help you understand.
One of the biggest drivers for a high valuation on sites like Flippa is loyalty. Whether we’re talking about a subscription model eCommerce platform or a SaaS product where you have members automatically paying every month or if it just means a high return customer ratio, loyalty is a massive player when it comes to valuation.
Questions you’ll often hear from potential investors is “what is your MRR?” They want to know what your Monthly Recurring Revenue is as it is a number that gives them something to set a base on for value.
If you’re selling something like swim trunks, you likely don’t have subscribers, but you very well might have customers who are coming back each summer for a new pair of their favorite brand. Creating loyalty with Appy Pie’s software allows you to develop the sort of relationship that keeps customers coming back for more.
Reach global audience with a multilingual app
This is a killer feature that can often go overlooked. Appy Pie has the ability to localize your product and break language barriers without any coding.
Many of you might be thinking to yourself that this doesn’t really matter. Perhaps you only do business regionally. And if that is the case, it might be true… for now.
But if you are looking to maximize the value of your business, creating something that can quickly go global is paramount.
Entrepreneurs and investors want to purchase a business that can make money worldwide. While you may be happy enough with geographic limitations, the person examining your business will be far more keen to make a high offer if they see the potential to run the company in multiple countries or continents.
We all have apps on our phones, and we all know what push notifications are. Whether it is a notice that tells you about a new message, a note that makes you aware that a product has been shipped, or just a popup that gets your attention for an upcoming sale – notifications work.
Not only will push notifications prove that you have active customers, but they will also work wonders to increase your revenue, which is obviously still a key to your business valuation.
Customer support is absolutely essential for any business and as the world has become digital, we all expect immediate answers these days. This is why integrating a chatbot, like the one that you can so easily build with Appy Pie, is especially helpful when trying to increase the value of your business.
Developing a chatbot is no small feat. Artificial Intelligence isn’t exactly an elementary level bit of programming. Your competitors might think that it’s an impossible concept to integrate if you aren’t a Fortune 500 business. But consider yourself lucky, because you can actually do it in just 3 steps and find yourself hundreds of steps ahead of the game.
Not only will delightful customer service be crucial for creating a user experience that brings people back time and time again or recommend your product to their friends and family but developing an automated customer service system is a highly marketable aspect of your business when the time comes to sell.
Most entrepreneurs looking to acquire an online business want something that is relatively handsfree. They don’t want to work 60-hour weeks managing email support. If you can show that your website runs smoothly with an AI chatbot helping you out, your business valuation will instantly improve.
Similar to a chatbot, the value of your business will rise if it can be run with minimal workload on the new owner. Setting up automations with Appy Pie Connect will quickly increase the value of your business when the time comes to sell as it
streamlines many of the day-to-day processes, saving time for more critical tasks and letting you develop an efficient platform for your customers.
Acquisition entrepreneurs are looking for businesses that run smoothly. They aren’t interested in a website that is run through spreadsheets and needs hours in front of the computer. The more your business syncs across platforms with automations, the more it is worth to a prospective buyer.
Whether we’re talking about integrating your eCommerce store with Shipwire and MailChimp or connecting your content site with Twitch, Slack, or DropBox. The opportunities are seemingly endless when it comes to automating your site and the more integrated it is, the higher its value.
You should never judge a book by its cover, but the thick of it is, most businesses are judged by their graphic design. If it doesn’t look like time, money, or energy was put into the look and feel of your online presence, nobody will be willing to put time or money into purchasing it from you.
Hiring an experienced graphic designer is certainly the top choice when you’re building a website, but the fact of the matter is most of us don’t have the budget for a full-scale design agency to come in and lend their skills.
Using the design software from Appy Pie you can quickly and affordably, raise the value of your business exponentially. Whether you’re just perfecting the banners on your home page, developing beautiful emails and newsletters that can improve sales conversions or even creating a more trustworthy logo, the more professional you look, the more you will sell and the more you’ll be worth.
It is often easiest to think about brick-and-mortar businesses when considering how much design is worth. If you run a clothing store that is making $50,000 each month, but clothing is strewn across the floor and your sign out front is just a cardboard box with some paint on it, buyers won’t be very tempted to even consider acquiring your business. Now consider another store, same inventory, and same revenue, but all of the clothing is neatly folded and there is a stunning, custom painted sign out front – that will be worth a fortune.
The most important factor in valuing a business is revenue. This is obvious. But the aspects of an online business that can easily and quickly be improved upon in order to increase the overall valuation are simple. Build out loyalty programs, integrate chatbots and meaningful automations, or simply beautify the look and feel of our website and acquisition entrepreneurs will come knocking.
If you want your business to be worth more when the time comes to make an exit, integrating the various products that Appy Pie has developed will make your business stand out from the rest.
If you’re curious, you can get a reading on your business valuation quite quickly by using Flippa’s valuation bot (see below). This will give you a good idea of what your business might be worth based on current revenue and several other factors that work with their proprietary algorithms and years of data.