This is why you are here:
It is important to have an app idea.
This is the first step.
According to Inc.com, nearly two-thirds fail to reach 1,000 downloads within the first year. App failures are mainly due to a lack of market research for mobile apps.
Next, validate it.
It is necessary to conduct detailed research on mobile apps.
This will ensure that you are investing your money and time in the right direction.
How can you conduct thorough market research?
This guide was developed based on our experience in validating and developing more than 4400 Android- and iOS-based mobile apps in all Mobile app development company. This guide is also based upon our core expertise in mobile app development services.
Let’s start by understanding what mobile app market research is.
What is App Market Research?
Market research can help you identify the market need and value of your application.
You can answer these questions by doing thorough research
- Do you have a need for your app
- Who is the target audience for this project?
- Which are your competitions?
- Is your mobile app more valuable than other apps?
- Are you a money-making entrepreneur?
You cannot conduct market research without answering the above questions.
You put your time and money at risk.
This is exactly what a social network app did.
Here is a Vine research: A social networking app called Vine that was unable to survive in the US market for multiple reasons.
Failory’s research shows that Vine was a popular social network with hundreds of millions of users. However, Vine lost its profitability over time due to the emergence of similar services, particularly against Instagram.
Vine’s inability to compete against similar apps and its failure to meet market demands was the primary reason it was shut down. The below graph shows Vine’s decline in comparison to Instagram.
The lesson is that you should not be focusing on your product only. Make sure you understand your market before you launch an app. This will allow you to contribute to the product’s success.
Let’s also learn how to do market research.
These are the five steps you’ll need to follow.
In 5 Easy Steps, How to Conduct Market Research for Your App Idea
Market research is easier when everything can be divided into different categories. Mobile app research is constantly changing. It is important to keep up with the latest technology and conduct microsurveys on different platforms.
To get useful and reliable market research answers, follow the steps below.
Step 1: Identify the market trends and compare the app ideas with competitors
Businesses can use search engines and other research tools such as Statista, BusinessofApps and Google Trends to determine the market demand and market trends for the app. It is possible to determine if there is a demand for your app.
Compare your app to the competition to see which features they offer and which features you will add to make your app more valuable.
Our research has shown that Data.ai is the best tool to compare your app to other apps.
Data.ai provides relevant insights on app downloads, top apps in revenue, competitive growth analysis, and other information.
Google Trends can also be helpful. You can compare search trends from all around the globe with this tool. This tool allows you to find similar apps in other countries to your app idea with just a few clicks.
Keep an eye out for trends in App Store. Optimizing your App Store is crucial to understand the user’s buying habits. An in-depth look at the popularity charts will help you understand what is working in the app industry. You can see the trends in mobile apps by looking at the popularity charts. Paid apps will show you the value of the app.
Step 2: Make contact with people in every part of your target market
Research is not safe if you only have one viewpoint. This is because the process involves many people and contributors. It is important to talk with people who will be using the product and get feedback.
To understand your target audience and their preferences, create a user persona. Market research is incomplete without a profile. The user persona is crucial for making important decisions about monetization, personalization and scaling, UI/UX, etc.
Once you have created a user persona, it is time to move on to market research.
Step 3: Create online surveys for data collection
Field research involves a workforce that is able to ask a targeted group of questions, conduct personal interviews, send emails, or use social media strategies. Market surveys focus on specific questions and audience polls. Surveys can be a powerful tool to represent the product. They are used to understand customer behavior and loyalty.
This checklist will help you create the best mobile surveys possible to get started with your app development.
- Select the survey tool you prefer.
- Consider what questions you’ll be asking.
- The UX design of the mobile app is based on survey research questions.
- Incorporate the mobile app design into your mobile user experience.
- You should conduct a pre-test of the functionalities you plan to include in your app.
- Analyse all results.
- Be aware of the behavioral aspects and how users will interact with your app.
Optimizing social media accounts can be done for your product. To make an impact on users, it is essential to have an online presence. Poor social media strategies are the reason many companies fail. App growth will be boosted if you dominate the social media market.
Downloads can be optimized by reading our blog. We have many ways to increase user acquisition through paid and free campaigns.
Step 4: Create the most effective business plan
You need to consider the following parameters to get the most revenue from your app. In any android App Development Company in India.
- Your business’ uniqueness
- Concise and brief details
- Flexibility in your approach
After you have researched the market and your competitors, create a business plan. A strong business plan will succeed. These are the essential steps for writing a business program.
- Prepare an executive summary of your plan
- Talk to the team and other stakeholders about the project.
- Describe the purpose of the product
- Write the management and organizational roles
- Create sales and marketing strategies
- Define your business costs and budget
Do you want to make your app idea a reality?
Cumulations offers the best mobile app development solutions. We have built over 4400+ apps for clients around the world, thanks to our years of experience.
Step 5: Perform a SWOT analysis to strengthen your app’s core
App failures can be avoided by carefully analyzing your app insights – strengths and weaknesses. These are internal factors. Opportunities and strengths can be found elsewhere.
These are the steps that you should follow when conducting market research for mobile apps. These core benefits will be apparent if you follow these steps correctly.
Before App Development, 3 Benefits to Mobile App Market Research
These are the benefits of market research that you may observe prior to app development.
Benefit 1: It helps you understand your competitors’ USPs, Weaknesses, and Strengths
Understanding your competitors’ USPs and end-users, marketing channels, revenue model, and business models will give you a clear picture of what is working in your market.
This competitor analysis report can help you identify the weaknesses in your competitors. These points can be used as growth opportunities.
Benefit 2: Data-oriented Plans are easier to make
Market research provides data and insight to help you make precise forecasts. This will influence the decisions you make to adapt and develop your strategy.
This data can help you determine the product’s value, prioritize new features and change your pricing strategy. It also helps you choose the right market.
Benefit 3: Market App Research provides revenue projections
Market analysis is a great way to understand the trends and numbers in your market. Understanding the revenue models of your target market and the income streams of your competitors will give you a good idea about the revenue projection. Although this projection is subject to many factors, it will give you a general idea of the revenue.
What is the importance of market research for mobile apps?
It is crucial to conduct market research on mobile apps in order to understand the current market conditions and determine the most recent technology trends. Get insights into the audience to help you make informed decisions about features and design. These insights can be used to increase your chances of success in the mobile app development process.
What are some survey tools that can be used to research the app development market?
SurveyMonkey, Typeform and Google Forms are all online tools that can be used to conduct primary research. Your specific requirements and goals will determine which online survey tool is best for you. You should consider the pricing and features offered by each tool.
How can you tell if your app is getting traction?
To receive customer feedback and relevant data, you can create a minimum viable product (MVP). This will give you an idea of the success or failure of your mobile application.
What can mobile app market research do to help app developers create a profitable and successful app?
The market research for mobile apps can provide valuable insight into the industry, competitors and the preferences and needs of the target audience.
Let’s get started on mobile app research for your app together
Yes, we can assist you with market research for your idea.
Call us to schedule a free 30-minute consultation with our technical expert. We have been in the mobile app industry since 2010 and are familiar with how to validate your idea and conduct market research before we move forward with development.
We would appreciate more information about your ideas and vision when you contact us. This will allow us to better assist you in the process.
