The Community Blog for Business Analysts

Deniz John
Deniz John

6 things to keep in mind before investing in your next mobile app idea

Got a brilliant mobile app idea and want to turn it into reality? Well, that sounds great! As the app market is booming like never before, and people are increasingly turning to mobile apps, it is certainly the right time to invest in the mobile app. Having thousands of downloads and making millions out of your app is definitely worth giving a shot. However, with thousands of new apps hitting the market, fierce competition has also led many applications to fail. Mobile app development is a big investment and requires immense efforts and resources.

 

Thus, before you decide to turn your app ideasinto reality, and invest your hard-earned money, here are six things that you must keep in mind:

1- Carry thorough market research:

Before you start with the app development process, it is vital that you go through detailed market research. By analyzing and researching the market you will gain knowledge about the existing competitors, similar apps in the market, their marketing strategies, customer base, failures, and more. This will help you deal with the concerns that may arise while you get your app developed. As you research similar apps in the market, you must also think of ways to make your app better and make it stand out. Similarly, if there are similar apps that failed, you must inquire about the reasons why they failed to make sure that you don’t commit the same mistake. 

 

2- Set a tentative budget:

Mobile app budgeting is the most crucial part while you plan to get your own app developed. You must determine all your expenses that you would incur while creating the app. The cost of creating your mobile app primarily depends on the app features you want to incorporate, the number of developers required to build an app, developer rate, technology stack, and marketing strategies. After having a tentative budget in mind, you must think of ways to arrange the required capital by contacting the right investors or find other ways to generate funds.

3- Know your target audience:

While developing your app, always make sure to clearly define your target audience. Which age group is going to use this app? How will your app help them? Will your app be able to meet their expectations? You must be able to answer these questions and get started with your app accordingly. You must keep all the preferences of your target audience in mind and then plan to develop your app accordingly. The more clearly you understand your target audience, the more successful your app would be!

4- Put forward your app specifications:

As you plan to develop your app, you must lay the key features in the mobile app in advance. You must put forward what your app has to offer to attract its customers. For example, if you are looking forward to developing a Whatsapp like app, you must define what features you will incorporate in your chatting app like video calls, audio calls, themes, encrypted chat, location sharing, media exchange, among others. Thus, will clearly define what all will your app offer to its users. If you already know what all features you will have in your app, you can define your app goals with the development team. However, you should keep in mind that the more features you incorporate in your app, the more will be its development cost. If the specifications are farewell defined, the app will be used and recommended to others as well.

5- Choose your development team wisely:

The development process decides the fate of your application.  Even the slightest bug in the app can turn down your mobile application and break the trust of the users. Thus, it is important that you choose your development team wisely and approach a renowned development company. Before finalizing the developer, you must also check the past work done by him/her and give a look at the feedback & reviews provided by the clients.

 

6- Chalk out the marketing strategy in advance:

Developing the app is not enough, if you do not have an excellent marketing plan, it can fail terribly. As thousands of apps launch in the app, only a few apps are successful. Apart from the app’s user interface and utility, the next thing that decides the success of the app is its marketing strategy. A solid market strategy will make sure that the app reaches its target audience and attracts the eyeballs of the audience. Leveraging on influencer marketing, app store optimization, affiliate marketing, among other marketing strategies will ensure that your app stays in the limelight and stays ahead of the competition.

 

Apart from the above-mentioned points, there are several other things that you should consider including the time frame to develop your app, app security, cross-platform technology, etc. Once you have the right development team on your side and have a clear vision of your next mobile application, you can be sure to turn your app idea into a full-fledged app and launch it with a bang! 

This entry was published on Aug 14, 2020 / Deniz John. Posted in Technical Topics. Bookmark the Permalink or E-mail it to a friend.
Like this article:
  0 members liked this article

Related Articles

COMMENTS

Only registered users may post comments.


Blog Information

» What is the Community Blog and what are the Benefits of Contributing?

» Review our Blog Posting Guidelines.

» I am looking for the original Modern Analyst blog posts.





Modern Analyst Blog Latests

Jarett Hailes
Jarett Hailes
As we start a new year many of us will take the time to reflect on our accomplishments from 2012 and plan our goals for 2013. We can set small or large goals. goals that will be accomplished quickly or could take several years. For 2013, I think Business Analysts should look to go beyond our traditional boundaries and set audacious goals. Merriam-...
2 Responses
Howard Podeswa
Howard Podeswa
Recently, I was asked by the IIBA to present a talk at one of their chapter meetings. I am reprinting here my response to that invitation in the hope that it will begin a conversation with fellow EEPs and BAs about an area of great concern to the profession. Hi xx …. Regarding the IIBA talk, there is another issue that I am considering. It's p...
15 Responses
Adrian M.
Adrian M.
Continuing the ABC series for Business Analysts, Howard Podeswa created the next installment titled "BA ABCs: “C” is for Class Diagram" as an article rather than a blog post. You can find the article here: BA ABCs: “C” is for Class Diagram Here are the previous two posts: BA ABCs: “A” is for Activity Diagram BA ABCs: “B” is for BPMN
1 Responses
Copyright 2006-2020 by Modern Analyst Media LLC