In a speech on ‘Apps, stats and the future of mobile’ as part of Glasgow’s Social Media Week, Nation1 group managing director Andrew Grant said that it is important for companies to create a two year strategy for apps, which should make money over two years.

The talk, which looked at app statistics and the IP and data protection facts, was hosted by Grant as well as legal firm Latham & Watkins.

It began by looking at the most important reason why companies should have a mobile app: “Apart from awareness…the number one reason to have an app is that if you don’t, others will.”

Discussing the usability of apps from a customer’s perspective, Grant said: “If something doesn’t work within three-four seconds, it isn’t worth it.”  He also mentioned how a quarter of users have deleted an app after downloading it.

The ways to make money from apps included the app being sponsored, in app advertising through banner adverts, users being charged for further information beyond a basic free level, and users being charged for upgrades and additional functionality.