How Your Business Can Catch the Right Opportunity in App Market?

APP MARKET

The organization has started realizing the value of consolidating the mobile app development strategies in overall branding strategies. Now, every business is publishing their own app and try to capture the market. There are more than 6 million apps between google play and apps store. With so many competitors in the market, it is crucial to know How will you start and develop the right place in the app market?

As the number of smartphone user is increasing, the app market revenue is taking its pick. Studies says in 2020, mobile apps are projected to generate 188.9 billion U.S. dollars in revenues via app stores and in-app advertising. Some of the Successful mobile app development delivers a product that creates value for users and solves their pain points.

If you are still looking for the best opportunity in the market and finding the right solution! Then it’s time to act. Creating an app is to add new channel into your brand to increase the communication and reach for huge market. From customized app to detailed marketing strategies, every application development needs detailed process. Before that you need to find out how you can find the opportunity you want in the app market!

* Conduct the research:

For any business research is the key, at the time of research you need to identify the specific problem and build the solution to create an app. Even if you have the existing solution in the market! You can give different approach and develop the research on that. There are basic areas where you need to do the most research in:

Competitor analysis: You need to Identifying the competitive market status, analysis of the current competitive situation and draft the future plan according to analytics. Also, you can create a spreadsheet to organize all of your research into an easily digestible format. To use it for future reference in a competitive market.

Industry analysis: As we know the tech industry is frequently evolving. You need to stay ahead of the game to remain in the competitive market. For, industry analysis leading tech companies try to anticipate gaps, problems, and most importantly, competitive threats in the market. In current time, the market has some popular commercially available open source solutions, they are CitrusDB, Magnolia, ProcessMaker, and FriFinans. We can say high maintenance costs also threaten to hinder industry growth.

Local and Global market analysis: Every market is unique is in own way. You need to develop two totally different types of strategies, one is for local and second one is for the global market. Because the market, you acquire for the app, the users are very different from each other. First, you need to make the choice of the market you want to serve and then develop strategies according to that.

* Examine the trend:

Trends are the best way to capture the market and attract the audience. By identifying the trends make your work like a cake walk. If we talk about this year, the trend for the app market is for artificial intelligence and machine learning. Experts believe that in the future humans will be replaced by the application and the technology.

However, there are more trends which getting popular this year:

– Wallet usage,
– Cloud based mobile app,
– AR & VR,
– Wearables and much more.

In these areas you can find more opportunity, expansion and higher customer base for your app. In short, while gearing up for new business, you need to see which trend will suit the best for your business.

* Find out exact USP (Unique Selling Point):

Whether you are starting a new business or looking for changes in existing technology! USP is a crucial step for your business cycle. This simply means more than just re-establish your product’s or business’ mission statement. While identifying your USP, you need to clearly define the intention behind a customer choosing you over a competitor.

One thing that your USP doesn’t necessarily have to centre around a product detail, but can encompass a unique aspect about your business has a whole.

Examples for USP are:
– Avis: We’re number two. We try harder.
– FedEx Corporation: When it absolutely, positively has to be there overnight.
– M&Ms: The milk chocolate melts in your mouth, not in your hand

* Decide your TSP:

Targeting: You can find out the target audience for your business through- a general understanding, based on the app’s category, and secondary research. However, through the analysis of information about your industry, category and competitors can help you to find out the right audience.

Segmentation: In a mobile app industry every user has a unique set of needs and motivators, but can be grouped by common identifiers. You can analyze geographic, demographic, and psychographic data, or you will gain a well-rounded understanding of what your target users are trying to accomplish by using your product.

– Positioning: Positioning for app will going to affect your sales. For an example, a target audience of 10 million users may be tempting, but if 50 other apps are trying to appeal to that segment, competition will be violent for those users. At that time, you must know how you will going to position in users mind.

* Define User validation and Experience:

When you conduct the research, it is important to analyse the results as well. Only end user can identify the right true status. After you validate the user persona and analyse the journey you need to validate all the assumption you have taken when you started the research.

To defining user experience in the app industry is an important task. Any brad’s exceptional design can please the customer and convince them too use the app again. Eventually better experience gives more retention on the app. Companies like Apple, Google and Amazon keep solving the issue of the UX design, they are able to rule the market.

Applications with the best user experience are:
– Snapseed
– YouTube
– Pinterest
– Trello
– Slack
– Duolingo

* Concluding the topic

Developing an app is all about being found and persuading users to install the app and make it successful in the market. To grab any opportunity in the market, you need to be very attentive. You need to plan and have to focus on the building the long-term commitment with the users. There are no single channel strategies will make your business fly. You need to analyse the market and apply these basic ideas to your business to get the results of your choice.

Jason Cowles

Jason Cowles is a devoted husband and father. He is also the founder & CEO of Bizeazy Apps, The Five Minute Shopify & eCommerce Mobile App Maker. His passion for building relationships have been the cornerstone to his success.

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