The Cost, Features and Factors of a Business Networking App

Sudeep Srivastava April 13, 2023

Startups, entrepreneurs, and professionals are now getting highly involved in business networking platforms to nurture their networking skills, boost profile visibility, and connect with like-minded people. It can be rightly said that business networking applications are now being considered the stepping stone to success for anyone who makes the right use of it.

This points towards the fact that there is a growing demand for such apps, which has lured the attention of investors who want to know the cost to build a business networking app before jumping into developing one. The business networking app development cost, in general, ranges around $45,000 to $80,000 based on a few influencing factors.

Let’s talk about one of the most popular business networking app out there, LinkedIn. As per the data from Statista, LinkedIn’s user base is projected to reach 828.43 million by 2027. LinkedIn today has become one of the largest platforms for building business connections and processing employment.

In this article, we’ll discuss the cost to build a business networking app, factors affecting that cost, various types of business networking apps, features, development process, and so on.

Factors that Impact the Business Networking App Development Cost

To answer the question of business networking app development cost, it is essential to understand the project in detail including the outcomes expected, its requirements and goals. However, the cost to build one ranges somewhere between $45,000 to $80,000. Here are some factors that affect the business networking app development cost:

1. Features and Functionalities

The price will undoubtedly change depending on how many functions you decide to include in your mobile app. The complexities of on-demand business networking app development with further implementation of advanced features will also be considered.

The business networking app features are the primary determinants of how much it will cost to create a professional networking app. Therefore, when using the app’s initial version, ensure to concentrate only on its essential features.

2. Platform Chosen

Remember that developing an app for the iPhone is more expensive than the Android platform when going for an on-demand business networking app development. You can also opt for cross-platform app development, which ensures better user engagement across multiple platforms.

3. Team’s Location

The development company’s location greatly impacts how much it costs to create an app similar to LinkedIn. The pricing for professional networking app development also depends on the nation or country you choose to outsource your app development job. For instance, a US-based development agency could charge you more than agencies from Western Europe.

It will be significantly more advantageous to outsource the app development process rather than hiring an individual freelancer. Hiring an efficient app development company will give you a better return on your professional networking app development cost and a fully functional scalable application built by experienced professionals.

4. Design Fees

Making an app with many features and functionalities is pointless if it isn’t user-friendly. Therefore, the design team should primarily focus on making your app’s interface appealing and user-friendly. The three phases of the UI/UX design services through which you can analyze the cost to build a professional networking app include:

Research: The research and study phase of app design entails defining the target audience, analyzing the competition, and learning about their preferences.

Wireframe: Wireframe designing helps you visualize the layout of your pages, the navigational features, and the relative sizes of the app’s components. Wireframe resembles the structure of your finished app in some ways.

Prototype: An app prototype is a minimally featured interactive app demo used to gather stakeholders’ input at the beginning of a project’s lifecycle.

5. Choice of App Development Team

The procedure to determine the cost to build a business networking app is made much simpler by hiring an app development team. Hire a mobile app development company that is efficient and has extensive expertise in managing challenging projects.

An app development agency’s approach to creating an efficient and scalable business networking app distinguishes them from the rest. For hiring the right mobile app development team, always look for the company’s portfolio, testimonials, and reviews on the listing sites to know the type of projects and clients they have worked with.

6. Development Period

The time to create a business networking app is yet another major factor in determining the price of the app. The number of developers needed and the time taken to create a professional networking app are directly correlated. It also depends on the type of business networking app you want to develop, along with the complexities of features.

Five Business Networking Apps That Entrepreneurs Should Know About

From LinkedIn to Bizzabo, here are some of the top must-know business networking applications:

  1. LinkedIn

If you ask anyone about business networking online, they will probably name LinkedIn as the standard case study of a business networking solution that is widely utilized currently.

The business model behind LinkedIn is simple enough, enabling users to create a profile, allowing them to find mutual connections and add them. There is in-built protection against unwanted invitations, restrictions in profile viewing, and other control features of what information the users want to keep public.

LinkedIn has now become a favorite professional networking app for professionals as it allows them to build a network of trustworthy individuals. LinkedIn’s primary business is still business networking, but it has since expanded to offer job search ads and business training programs through LinkedIn Learning.

  1. Shapr

All work and no play renders professionals dull. Now, if you believe that “Common Connect” is only limited to the dating app Tinder, think about it again! A professional networking app like Shapr just works like the Tinder app.  Shapr is one of the best social networking applications because it is professionally entertaining and a smart way to connect with other industry professionals around.

Shapr connects you with a network of experts who share your hobbies and interests professionally. You can swipe left or right to signal whether you want to connect, just like on Tinder. You will both be notified if there is a match, and you can meet up for coffee, in reality, to discuss business.

  1. Meetup

Another entertaining yet professional networking tool for business owners that blurs the strict lines between personal and professional needs is Meetup. Meetup can assist business owners in locating people in their area who share their interests so that they can connect with them to exchange ideas and create business alliances.

  1. Eventbrite

Eventbrite is a ticket booking platform that assists organizations in planning and selling tickets for events online while assisting individuals or industry professionals in finding events that match their interests. Eventbrite lists various events, from workshops to concerts and conferences to popular film and music festivals.

  1. Bizzabo

For entrepreneurs and companies that frequently host and attend events, Bizzabo is the perfect option. Bizzabo can guarantee the success of each and every event you organize when it comes to hosting. With a user-friendly interface, Bizzabo makes it simple to create, market, and sell tickets for your events. All you have to do is join up, create an intriguing business profile, add professional interests, current location, and work history, then start swiping!

Bonus Read- How Much Does It Cost To Build An Event Ticket Booking App?

Essential Features to Include in Your Business Networking App

Focus on the features and functionalities that will best meet the requirements of your audience. Even though a few specific features are only pertinent for certain platforms, most business networking applications share some common features. Let’s check them out.

User Registration

User profiles are essential for users to establish and connect with people with similar goals in professional social networks. Therefore, it is crucial to have a simpler and hassle-free registration process with just a few clicks, allowing users to register through their social networking applications like Facebook and Gmail.

Personal Chat

Allow your users to communicate with one another through the app. Personal chat or messaging is a vital business networking app feature through which individual users like employers and job seekers, entrepreneurs, and other industry professionals can communicate with one another.

Our skilled developers at Appinventiv have created a social media app called Vyrb that uses Bluetooth wearables to let users share and receive audio messages. Top-notch features like autoplay and other well-known audio commands features like Siri and Google voice assistant were added to the app.

News Feed

In order to increase user engagement, it’s crucial to ensure that social media apps consistently produce new material, such as job listings, news, videos, images, and articles. Many business networking applications, like LinkedIn, use algorithms to make sure that the materials are relevant to the users.

Groups

Allow your app users to create groups, invite or add members, and participate in conversations with others who share similar interests. The ability to modify group parameters, like removing or adding members or even deleting the group, should be enabled for the group creators. Similarly, group members should be free to quit the group whenever they want to.

Activity Feed

Every social or business networking application needs its users to interact with its content. User engagement in your professional networking app can only be increased if you enable the features of commenting, liking, and sharing information. With easy navigational features, the users should be able to upload and share various types of materials, such as images, texts, videos, and articles personally, in a feed, or in groups.

How do Business Networking Apps Generate Revenue?

Different business networking platforms might have distinct monetization strategies. However, any platform’s monetization plan must be based on a few fundamental principles. This implies that you can charge users for effective deals, utilization of specific tools, market access, and content curation.

Let us take the example of the popular professional networking platform LinkedIn. Recruitment services, marketing, and premium memberships are the three main revenue streams of any networking app like LinkedIn. Nearly 75% of LinkedIn’s overall income comes from “talent acquisition services.” The platform’s other two revenue streams, marketing, and premium subscriptions, add equally to its overall revenue.

In a similar way, any business networking app can charge their users for premium memberships and allow them to check who viewed their profiles anonymously, send InMail messages to other users, and take premium courses to advance their knowledge. Businesses can use sponsored content and ads for listing their services in a professional news feed through marketing.

Venture Into Business Networking App Development with Appinventiv

The world is transforming to a more digital future, and mobile applications are one of the necessary tools that can assist your business in growing effectively. Additionally, professional social media applications have received enough traction over recent years. Also, 40% of individuals prefer online networking over physical meetups or networking. This figure clearly illustrates the enormous business networking app benefits that have made stakeholders ponder over the business networking app development cost.

But building an app from scratch calls for a sizable budget, a huge amount of work, and a skilled agency like Appinventiv. Being a top-rated business networking app development company, Appinventiv’s experts are skilled in developing scalable business networking applications for various platforms, including Android, iOS, and cross-platform, that ensure huge returns. Connect with our experts to explore the limitless possibilities of venturing into business networking applications.

FAQs

Q. How business networking app works?

A. Networking is about engaging with people from different industries for mutual business benefits. Here are some of the ways how business networking app works:

  • Easily connect with other app users.
  • Make a list of follow-up actions and event opportunities and send it to your connections.
  • Get notified about relevant networking events or group invitations that you might be interested in attending or joining.

Q. How much does it cost to build a business networking app?

A. The cost to build a business networking app can go anywhere from $45,000 to $80,000. The business networking app development pricing can even exceed based on the requirements of your professional networking app development project.

Also, it varies on the type of app you are planning to build, the complexity level of the app, the development team’s location, features, and functionalities, and several other factors. Read to know the factors that affect the cost of developing a mobile app.

Q. What is the development process for building a business networking app?

A. Here is the complete step-by-step business networking app development process that is commonly followed by the top app development companies:

  • Requirement gathering

This stage primarily entails the documentation or the requirement gathering process, where the mobile app development experts will validate your app idea by gathering information and resources.

  • UI/UX design

The development of a user interface design for the app is the second stage. To create a user-friendly app design, a sizable amount of money is required. With design complexities, the cost to build a business networking app also increases.

  • Initiating development process

The top mobile app development companies like Appinventiv follow an agile development process because, unlike traditional development processes, agile ensures quicker development with enhanced app functionality.

  • Testing and launch

The QA team primarily documents the test codes and user test scenarios. The testers run manual or automated tests to ensure that the app is fully functional. The development team first fixes any flaws before moving on to the MVP, which has the fewest features.

Q. How long does it take to build a business networking app?

A. The duration to build a business networking app depends on the complexities of the app’s functionalities and any other requirements you wish to include. The approximate time to create a business networking app is around 4 to 6 months.

THE AUTHOR
Sudeep Srivastava
Co-Founder and Director
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