Smartphones play a major role in today’s business world due to the rise of enterprise mobility. Gartner forecasts mobile phone sales will reach 2.1 billion units by 2019. This will fuel demand for those apps that meet the high performance and usability requirements of consumers. Hence, entering the market as a mobile app startup is a great deal and has a better chance to succeed compared to others. However, most of the entrepreneurs often get stuck with one common question i.e. “how to execute an idea and Build an amazing mobile app?”. If that’s the question bothering you then we have a solution. In this blog, we are going to discuss the strategy that you should follow while building your app.
In the continuation of our previous blog naming “40 Best App Ideas for Startups”, we are moving further to find some new and innovative ways of building amazing mobile applications for your startup. For this, at first, you need to figure out what your app will do once it gets launched on the market and how much effect will it be able to satisfy its customers. Special deals or offerings, Scheduling, coupons/discounts, design, wireframe etc. are some of the important things required by an expert mobile app developer in order to define the best mobile app strategy for the startup. Let’s start with idea analysis.
1) Idea Analysis
It is the foremost thing which every business owner should consider before starting to build an app especially when it comes to startups. An idea is something which affects the whole app since it is the base.
An idea analysis for app development comprises of market analysis, competition analysis, and country-specific research. It is a perfect startup business plan for your app idea.
– Market Analysis: Right audience targeting, Unique Selling Proposition(USP), marketing channels are the key essentials of marketing analysis. Targeting right customers is necessary because customers are the key ingredient for the success of your app. USP is needed to convince someone why your app is superior to other similar apps. Moreover, you can choose different marketing channels as per your target audience to make aware of people about your app.
– Competition analysis: Google play store consists of millions of apps which makes it more competitive and difficult for your app to get a good reputation in less time. Since there are already present a number of similar apps so you need to design and deploy unique features into your app to gain the attention of maximum users. Moreover, you need to choose a sensible monetization strategy to curb this problem.
– Country-specific research: It is important to research well the need for different countries and fulfilling them via your app. Country-specific research helps app developers in designing the app as per the requirements of different people across the world. It will let them embed all those features required by different people into the startup mobile app.
A good plan, if executed in the right manner, can take your app towards success soon. Your business plan must have a projected profit and loss statement that establishes the various liabilities and assets that you will accumulate, ideally over a one-year period. Here are some key metrics are given below for a good planning of your startup mobile app.
– Surveys and Questionnaires: By running surveys and questionnaires, you will get unmatched insights about customer behavior that adds some weight to your mobile app business plan. If you know your target audience, it will become easy for you to ask questions about usage patterns.
– Monetization Strategy: Based on the monetization strategy, you can predict the cash flow of your startup mobile app. Most applications focus on user growth over revenue and monetize the user base much later.
– Check for Google trends: Check Google trends for keywords related to the idea of your application. Ideally, your application points to a problem and a growing market, and Google Trends can give you a fair idea about your potential customers.
– Use Analytics: You can also use third-party application analytics platforms such as App Annie and Sensor Tower to get more details about the size of the market and understand what you’re up against.
Starting with a mobile application for its new start-up is very profitable compared to other companies. The mobile application can be built for a price as low as less than $ 2000, compared to the configuration of a restaurant that requires an investment of $ 50,000.
Some of the major budget metrics are given below:
– Lifetime Value: This value gives you an idea of how much money you can expect to make on average from a single user. It actually indicates the financial viability of your mobile app.
– Customer Acquisition Cost: It is a critical metric which gives you an idea of the cost per app install or CPI. For an exact CPI, you need to use some industry benchmarks. Thus, it gives you an idea how much you can expect to spend as you go after high-value users.
– Runway and Burn rate: Your burn rate should be low as it determines how much money do you expect to be spending per month. While runway is defined as the total funds per burn rate.
Outsourcing projects is a good decision for any startup. For startups, it is difficult to make an investment in hiring in-house companies when they have a low budget. However, hiring a dedicated mobile app developer would not cost much to startups and also provide the perfect mobile app development for their project as they focus on core activities. It is a cost-saving approach with many business benefits for startups.
5) Mobile App Marketing
There are millions of users of mobile devices and tablets. There is a large market for the application. You must define your target audience to whom you will market your mobile application. The narrower the target segment, the higher the conversion rate. It will also help you provide an excellent customer experience and greater customer loyalties. Moreover, you can use a wide range of channels to disseminate your marketing messages depending on your user preferences.
Some of these channels include:
– Social media ads
– Retargeting campaigns
– Organic installs
– App store optimization
– Mobile site redirection
– Content marketing
– Event marketing
– Push and in-app notifications
There is a need for the market to connect people looking for work and people ready to hire. Small businesses and the employer also look for people to finish their work and people earn additional income by performing a concert. By offering a platform for the market, you earn a commission for it. This is a very nice area and you can take advantage of this opportunity by making the mobile application market.
For an instance, can you imagine designing an exclusive T-shirt for the 2016 FIFA World Cup and launching it through the mobile application? It will also try to create a landing page or a website and, in social networks and the market. But the main focus must be to sell it through a mobile application.
So far we have discussed various amazing ideas to build interactive mobile applications for startups that will help them gain many business benefits. However, cost, time and market are three important parameters that should be kept in my mind by any startup business before the development of mobile application. In fact, hiring a dedicated mobile app developer is the best decision for any startup in this modern digital world.
However, if you still find any difficulty with mobile app development, then no need to worry. At ValueCoders, we have an expert team of dedicated mobile app developers who have successfully delivered more than 500 mobile apps to its clients across the globe since 2004. You can Contact Us anytime for your startup mobile app development project. For native app development, you can hire Android app developer or iOS developers as well.