Mega Apps Vs. Super Apps – The Future of Applications
With the rise of the Internet, businesses and buyers have found novel ways to connect. At the end of innovation, businesses have never shied away from designing, developing, and deploying new marketing and service delivery modes.
That was the twilight of applications adaption – when users let the applications they use define themselves. At first, the idea was too many applications with each app specialized to do the designated task. This has changed significantly in the last couple of years, especially in Asia, where mega and super apps have reared their heads. The idea is simple in theory, a single application to rule over all applications!
Mega apps are the new quintessential types of applications developed to cover a global market. For instance, if a mega app for learning is developed, it will cover lectures, assignments, note-taking, payments, etc. By handling all the peripheral tasks in the same application, sometimes in the same dashboard, the application allows users to have a seamless experience while graduating from a mere application to a mega app.
Beeda Mega-App is an excellent example of a mega app. It is a marketplace where users can hire on-demand services, buy goods, watch a movie, book a vacation, and order food using the in-app wallet. Beeda Inc The company behind the application is determined to change how users think about shopping, hiring, playing, etc. In a nutshell, it is about optimizing user processes and data.
Unique Selling Point (USP) of Mega Apps
When compared to a single service app, Mega Apps can do even more. Where a single service app could prove instrumental in doing all the tasks related to one industry, a Mega app can do more by combining various industries under one umbrella. complete ecosystem
Blackberry’s founder gave the most common and widely-accepted definition of a super app in 2010. He believed that a super app tries to make an ecosystem for users where they could do all necessary transactions of everyday life without leaving the application.
Super apps are developed using the platform “Progressive Web Apps,” allowing other “mini-apps” to open in the in-app browser.
This allows a simple yet hassle-free extension to other apps without specifically downloading them and providing credentials in each one before completing a multi-tier transaction.
Mega Apps Vs. Super Apps
At one glance, it may seem like mega apps are just a beefed-up version of regular apps, but they are much more. In terms of reach, scope, and depth of consumer experience, mega apps are better and more efficient for end-users and are offering far more services than a super app.
Following are some of the aspects of the two that make them different from each other:
- Mega apps are easy for consumers to adapt to because it does not introduce many unknown variables to the equation
- Mega apps make better business models by allowing companies to have singular marketing, acquisitions, and service delivery strategy.
- The compliance structure for the two is exceptionally different. For a mega app, it is easier to get things on board because each component is somehow related to one market or sector. Mega apps require stringent compliance because they dabble in multiple and diverse sectors.
- Another point that shows that mega apps and super apps are different is the level of capital for one of them. Mega apps require less funding and have to go through fewer hoops of scrutiny. Compared to this, a nifty app has a lot of potential pitfalls to deal with before cracking its way into the market.
What Makes An App “Mega”
After going through the definition and the underlying premise of a mega app – covering all the steps of an industry for users, it is time to dig deeper into its foundations and see what makes it mega.
Keep in mind that mega and super apps follow the same premise and share the same foundations. The two parts were the level of scope, reach, and diversity.
The characteristics we will highlight for a mega app also apply to super apps.
Following are some attributes that make an app a “mega app.”
Inclusiveness The development of current Mega Apps / super apps must make their products available to everyone to provide equal chances. A “Mega app” should make it possible for users of any age, gender, level of technical expertise, or ability to access its features. It should also ensure that users of any level may easily perceive, comprehend, navigate, and engage with the app. People with impairments such as poor eyesight, color blindness, impaired hearing, impaired dexterity, cognitive difficulties, and so on can use the super app / Mega App since it is inclusive. In addition to this, the practice of inclusivity is precisely what makes a business and its brand more empathetic.
Hackers may consider the concentration of financial services into a single app to be a dream come true. When consumers download such an open system, it grants access to a tremendous amount of client data and assets, such as money or information that could be considered sensitive. This is one reason businesses should ensure that their super applications are secure against fraud and risks such as man-in-the-middle attacks while providing a seamless and problem-free experience for their customers. Beeda uses two factor authentication within its app to add an extra layer of security to its already existing secure platform.
A primary concern for businesses, in addition to the protection of mobile apps, should be the native integration of robust authentication into their mobile applications. The apps can swiftly verify users and safely onboard new clients thanks to digital identity verification, facial recognition, voice recognition, fingerprint scanners, and behavioral biometrics.
The importance of social responsibility to the company has recently been emphasized. The increasing number of people who use mobile apps has led society to realize that Mega app businesses can impact the users’ living methods and their perspective on issues that affect the entire world. For instance, your company can contribute to the planet’s ecological sustainability by using environmentally efficient cars and equipment or by actively supporting trash reduction and recycling efforts.
Characteristics of Mega & Super Apps
Here is a rundown of the characteristics that are found in both mega apps and super apps.
Ultimate Go-To App
End consumers place a higher value on the simplicity of use and the ability to search for products and services within an app that combines many functions into a single package since it saves them time. Imagine it as another home copy of your home screen where you can access all the services you need to organize your day-to-day life within a single app instead of having to switch between many apps.
High Open Rate
Mega applications, such as Beeda App, began as ride-sharing apps and later added features such as instant chat and electronic wallets to their platforms. Beeda Pay was first conceived as a mobile wallet and payment hub; however, the software has expanded to include support for other verticals. Whatever the primary purpose was for which a super app was developed, it was performing its “job” exceptionally well, which enabled it to grow into an ecosystem of offerings.
Access to End-User Wallet
Why would you want to give your end customers the ability to store their money in another app when you could have direct access to their wallets? This is an essential function that is being done by many apps with the ambitions of being a super app. Even eCommerce platforms launched their e-wallet function, enabling easy access to payments for their users. Many apps are doing this function because it is an essential part of what it means to be a super app.
The best applications function as a shopping mall, with various stores selling different goods. Because of their willingness to participate in joint ventures and other forms of cooperation, they have achieved a level of success. Their app architecture allows additional platforms to be integrated without any noticeable disruptions within the ecosystem they have created. Gamification platforms such as Goama have agreements in more than 24 countries worldwide, and they offer a carefully selected collection of games that are very addicting.
It is worth noting that this characteristic, by definition, is only found in super apps / Mega Apps.
Value For Business
Increased growth and user engagement are possible outcomes of a super app’s capabilities. In addition, meeting customers’ various requirements by providing a wide range of services is a great way to keep existing users happy and engaged.
It’s no secret that Goama is a fan of mega apps; it integrates very smoothly with at least one of them. Doing so contributes the enjoyable element that keeps end users on the super app in question, thereby extending the amount of time those users spend on the app even when they’re not using the super app’s primary service. It puts entertainment within easy reach and eliminates the need to download various game apps on their mobile device.
Reasons For Success of Mega Apps
The reasons are apparent. Even though the users would love to have multiple apps in their use, each with its own sets of problems and issues, there has always been a need to have an application that can do the heavy lifting for ten or more.
The most common reasons behind the success of mega and super apps are as follows:
Solid Mobile Experience
China is characterized as a country with a mobile-first population since its residents’ first contact with the Internet was through mobile devices. Due to the discontinuation of the Google search engine in 2010, the country had little previous desktop experience. In addition, the smartphone market in Asia is significantly more extensive and less expensive than anywhere else on the planet.
So, how have these factors influenced the popularity of mega apps? The most influential element is that, not long ago, mobile devices had limited storage, limiting users from installing many apps and encouraging them to install super apps, which combine several services and offerings in one spot.
Despite cultural and geographical constraints, today’s world has a cultural homogeneity. This impacts market similarities, allowing different enterprises to operate in multiple countries within the area while providing uniform services. As a result, when super apps were first created, the need for the services they provided soon spread throughout the region, adding to the rise in the popularity of mega apps.
Influence on Banking & Finance
Because super applications’ target audience is so large, spanning vast countries, this type of solution eliminates the risks connected with product releases.
Businesses do not have to spend a substantial percentage of their money on development because of the “mini-apps” that make up a super app. It’s because mega applications make room for integration and scale their offerings using a platform-based strategy.
Through the automatic sync of data from consumers’ all-encompassing social and financial profiles, super apps also enable a more straightforward onboarding process for new customers and lower KYC (Know Your Customer) costs.
Increase your revenue. A super application frequently draws more users due to its extensive functionality directly impacting the company’s revenue.
Assist in increasing customer engagement. The user does not need to download different apps to accomplish daily duties because the super app integrates various functionalities.
By retaining customers from different platforms, super applications can lower re-acquisition expenses.
You have the opportunity to acquire a larger audience and establish a solid customer base by integrating each new service.
Increase the number of investors. Mega apps attract many more users because they can do everything, which means they have many possibilities for funding and investments.
Benefits of Mega Apps For Businesses
To further highlight their advantages, here are some solid points.
Wide Canvas For Prospects
Businesses have the lion’s share of resources for marketing, including demand generation, prospect hunting, and so on. Compared to the traditional model, the scope of mega apps is exceptionally vast as they allow businesses to cast a broad and more directed canvas for new potential clients.
As mentioned in the previous sections, the typical app development model relies on one app for one purpose. This opens Pandora’s box for users as they have to sign up for each application and even risk their data in case of malpractice or cyber-attacks.
Steady Revenue Growth
Businesses strive to move toward economies of scale. It means they want to master their operations and processes so that their marginal cost of production drops with expansion.
This allows businesses to get a steady stream of revenue for both small businesses and large corporations.
Improved Customer Engagement & Retention
What more would an application developer need besides having the most screen time from most users? With a mega app, companies can better engage clients with specialized services and products.
With big data, it is possible to allow users to “pick and choose” for themselves and customize their experience with the mega app. When this vision is successfully realized, businesses will reach the highest number in terms of customer retention.
Super Successful Mega App
Founded in 2019, Beeda App is the very definition of a mega app. With a simple and intuitive interface for complete customer control, the application allows more than 50 on-demand tasks or services from one application.
Users can hire or buy, order online, pay, and then track the progress of their orders from one single application. The company has gone from a traditional path and incorporated more than 30 services into one unified mega app. Users can buy crypto, play video games, shop, and pay from the in-app wallet for all the services.
The Future of Applications
One thing mega apps and super apps have made clear is that applications’ future is more generalized than specific. With clients’ needs and requirements changing, a mega app is better suited for the time. When a user wants to hail a cab, keep tabs on the journey’s progress, and then pay the driver from the same app, it means a mega app is needed.
Both mega and super apps are incredibly successful in Asia, but they also make a case for themselves in the West. This will disrupt the status quo, especially in banking and finance.