Research in Motion, maker of the Blackberry series of phones, announced the creation of the Blackberry App World, a mobile application which allows Blackberry users to easily download special applications and software for their devices. This is only the latest entry into a growing list of companies trying to provide venues for both paid and free applications for mobile phones.
Recently, the Wall Street Journal had a great article about whether small businesses should invest in a mobile website (see article). In it, the author, Roger Cheng, suggested that the business pay attention to their customers and if the customer experience could be improved by doing so, to go ahead and consider it. In much the same way, I would encourage small businesses to also think about mobile phone applications.
Ask yourself: Will my target consumer have reason to interact with me while they are on the go? I'm online all day at work, and have access at home, so it's not often that I want to conduct research or order products via my phone. Rather, it's when I'm in transit, or stuck on the train, or, as happens often, waiting for a meeting to begin, that I find myself playing on the phone. During those juncture moments, are your target customers going to want to interact with your business? Facebook, Twitter, AIM (all social networking companies) are perfect examples of great mobile applications that target activities I'm most prone to want to conduct in those brief down moments on the go.
Ask yourself: What information can I provide them quickly and easily that would be beneficial on a phone? Addresses, hours, directions and some other 'critical' information usually provides me with enough detail to get through 90% of my needs for most businesses. However, special circumstances do indeed warrant more in-depth information. When purchasing /renting a home, attempting to make dinner reservations, or finding out bar specials and entertainment offerings - obtaining more information while on the go becomes a defacto must have. For Rent Magazine has identified that their users need apartment information and specs on their mobile devices; MGM Grand realized that their consumers (travelers) wanted to interact with their entertainment, dining and other services while on location (and thus, not near a computer) at their facility.
As Cheng points out, the answers to your consumers questions will define your need to invest in either a mobile WAP site or a mobile application. There are additional considerations to think through, as the multitude of mobile platforms makes designing an application for all phones extremely expensive. However, if you again apply consumer logic to the decision process, it'll guide you to the right mix of features, functionality, and platform.