Top 11 Strategies for Successful Mobile App Startups in 2022
These days, creating and launching a mobile app is one of the quickest ways to succeed as a business owner. Although the cost of entry can be as low as $15,000, the market is cutthroat and is still expanding quickly. Fortunately, the profits are substantially higher. More than $318 billion was made from mobile app sales globally in 2020, an increase of more than $60 billion from the previous year. The two largest markets were social media apps, which brought in over $31 billion, and mobile games, which brought in $200 billion.
The overall revenue from all categories will reportedly increase over the next few years and will reach about $613 billion by 2025, according to a report published in Statista.
We at Decodermind have developed over 50+ mobile apps over the last five years and have come across some wacky business concepts and success stories.
As a result, we advise budding entrepreneurs to start with mobile apps as they don't require a sizable investment and allow you to test your idea without squandering a lot of time and money on several investors.
However, given that many apps also go undiscovered, we advise you to start your mobile app development journey cautiously.
Because everyone is aware of the market leaders, such as the PUBG Game App, which continues to generate over a million dollars daily, and apps like Zoom and Uber, which experienced explosive growth during the pandemic and generated billions. However, we never even learn about the other millions of programs that can be downloaded free from app shops. They don't receive enough focus.
We're trying to illustrate that while it's simple to enter the app market and can be advantageous for your company, you still need to put in the effort to make your app stand out from the competition.
So, in this blog post, we'll outline a few strategies that mobile app entrepreneurs can use to succeed and stand out in the industry. So let's get going.
How Can You Shine Your Mobile App Startup?
It is definitely feasible to create an app that people love. To succeed, all you need are some incredible tactics and perseverance. The following advice may be helpful:
1. Look into the app market
As soon as you have a business concept in mind, you need to market-test it. You may better understand the users of your app by spending money on market research. It gives you a better sense of what your target market wants and whether or not they would accept your product idea.
You must respond to the following inquiries during your market research process:
- What issue am I attempting to resolve?
- Is it actually an issue?
- Whom do I compete against?
- How would my app bring value?
Even if an app idea is incredibly original, it has the highest chance of failing if it is not supported by market research. Here's how to perform market research for your concept for a mobile application:
- Investment Market Analysis: You must compile current statistical information about your intended market. For information about the market potential of your idea, you can trust resources like Gartner, Statista, and Google Trends.
- Recognize Your Market Audience: Determine who your target audience is and divide them into various groups. For the same, you might think about conducting surveys and interviews.
- Connect with Your Peers: Make contact with those that are currently attempting to fix the issue after you have a grasp of your market. They might be your rivals. Attend business gatherings and events to learn more about their difficulties.
It's time to continue with the construction of your mobile app once your market research is complete and you have some facts to support your concept.
2.Verify Your App Concept
Alright! You have completed your market research and now have extensive knowledge of your app's end customers. It is now time to pause and consider a few things before you spend your hard-earned money on developing mobile apps:
Are customers prepared to pay for your goods?
Essentially, this is a market demand-related query. You have a brilliant concept for an app that is already on the market, but how much do you think users would be prepared to pay?
You won't be able to pay for your development and running costs unless there is a large demand for your goods. The demand can be determined by:
- Spend money on keyword research Learn how many people are searching for your target keywords.
- Look for comparable apps: For information, you can look through platforms like G2, Crunchbase, and app stores.
- Interviewing clients Ask your intended customers if they would use the product you intend to create. If so, how much are they prepared to spend?
Is the design of your app technically feasible?
The next step is to determine whether or not the product you propose to produce is technically possible. For the same, you can invest in developing a proof of concept (POC).
You must make an investment to determine whether your idea is workable if it is original and does not already exist in the market. POC is about demonstrating your app's functionality to a technical team and determining whether it can be developed.
3. Locate a Trustworthy Mobile App Developers
You need to choose the best development partner if you want to create a successful app. Understanding the app tech stack, difficulties related to it, and other technical aspects might be difficult, especially if you are a non-technical entrepreneur.
Therefore, always seek out a mobile app development company that handles your project, from conception to distribution. You have a choice of:
- Building an in-house team of developers is an option you might think about, but it's pricey. You'll have to pay for employee benefits, hiring, and other operating expenses. However, you will be in complete control of the deliveries and deadlines.
- Offshore Agency for Development: You must hunt for remote developers if you can't compromise on the quality of your software and need to complete your project quickly and with the best quality. These firms are expert, dependable, and reasonably priced, with developers who have experience and a wide range of portfolios.
- Freelancers: On websites like Upwork or Fiverr, it's fairly simple to find independent contractors who specialize in app development. They can, however, falsify their credentials and résumé. It is not a trustworthy choice because of this.
While working remotely for them, we at Decodermind assist clients from all around the world in developing reliable mobile app solutions. See here for more information on how we oversee our remote agile mobile app development teams to guarantee complete collaboration and on-time delivery.
4. Make Your App's Business Model Clearly Defined
Each outstanding app has a distinct and expandable economic strategy. It's time to put everything on paper now that you've finished your market research and idea validation and have a fantastic team of developers working with you.
"App Business Model" refers to your company's strategy for conducting business and turning a profit. It specifies the services or goods that a company wishes to market along with the strategies it will use to do so. To describe the business plan for your app, use "Business Model Canvas."
This document will provide a summary of your company strategy and the goal of your mobile app to your team, partners, and investors. This is how it appears:
An app's business strategy outlines how it differs from other apps on the market and what benefits it offers. The business model canvas essentially includes nine elements that characterize a company model:
- Value Proposition for the App What value does the application add?
- Target Customers: Who are the likely consumers of the app?
- Key Partners: Who are the important players?
- Resources: What are the company's main resources?
- Key Activities: How will the company interact with customers?
- Relationship with Customers: How will the company uphold its connections with customers?
- Platforms: What platforms will you employ for service delivery?
- Cost: What are the expenses included in the cost structure?
- Streams of Income: How will the app generate income?
You now fully comprehend how to create a business model canvas for your app. Your idea is getting closer to being implemented successfully, and you are prepared for all of the challenges and unforeseen expenses. Is this not magic?
No! It's basically an easy way to conduct business in the world of app development. We have worked with hundreds of mobile app entrepreneurs and have seen firsthand how successful developing a business plan early on can be.
5. Be Specific About Your Revenue Objectives
Every mobile app's main objective is to generate revenue. However, your app's revenue generation strategy can differ from those of other apps in the market.
But in order to incorporate your app monetization plan into development, you must be clear about it before you start developing your app. Of course, you can change it later or even totally, but you should approach the mobile sector with the dual goals of producing a fantastic product and building a successful business on top of it.
6. Avoid stuffing the app with features.
It's time to choose your app's features with the aid of your app development partners now that you are aware of the value your app will offer and how it will operate.
You may have imagined several possibilities for how your app will operate and what could improve it. But now is the moment to pause and reconsider.
You may think that app features like multiple payment methods, social media integration, AI, and AR/VR are essential, but you should put them aside for the time being. At this point, adding features that don't support your app's core concept will simply slow down development.
Using a prioritizing matrix is one way to determine an MVP's key features:
Keep in mind how Uber was introduced. The only item in its MVP was its main feature. The software just offered a mechanism for users to pay using credit cards and connected them to cab drivers.
In the succeeding version of the app, other features that were just extras but weren't crucial in the MVP, such as fare splitting, location tracking, cost estimation, and others, were added.
Therefore, the key in this situation is to emphasize your app's USP and store the other glitter for later. Why?
As a mobile app company, you aren't in a position to spend that much money for each feature, integration, and personalization of your development process. Additionally, it will be difficult for your customers to comprehend the true value that your software offers.
So, keep in mind that little is more when you are just starting out.
7. Monitor the App's Performance
There are many useful programs available. But is it sufficient?
No! You must create a fantastic app if you want it to succeed. Two-thirds of mobile users purge their phones' storage once a month, according to reports.
They achieve this by removing programs they don't like or use frequently. Therefore, there is no assurance that your app will remain on the user's smartphone for longer than a month, even if it does get there.
As a result, it is crucial to pay attention to the performance of the app.
Additionally, according to a Google study, there are larger possibilities that users may delete an app if it takes longer than three seconds to launch. You may enhance performance with the assistance of your mobile app developers by:
- Monitoring loading time, bounce rate, and churn rate before and after app launch
- keeping track of and resolving big drop-off points.
- Minimizing distractions like auto-playing films and other similar features.
- Increasing app user engagement using data.
8. Maintain Data Security
Because cyberattacks are becoming more frequent with each passing day, security is a top issue for app users. There will always be individuals with nefarious motives attempting to steal client information from your company for their personal gain. However, it is up to you to prevent it from happening.
Always err on the side of caution. So, safeguard your users' data privacy by taking the appropriate safety precautions and security measures. Not only will it keep you out of court, but it will also give your customers more reason to trust your company.
Additionally, failing to pay attention to security has highly negative repercussions. A data breach can damage your company's reputation for years, and some clients may never come to trust your products or services. Therefore, be sure to demonstrate to your consumers that you care about the protection of their data in addition to using the appropriate security measures.
9. Promote Your App in a Strategic Way
The days of believing that "If you build it, they will come" are long gone.
Millions of mobile apps are available in the app store, making it challenging to stand out. Therefore, spend money on strategic marketing to highlight your application's USP.
You may establish a global brand with powerful marketing techniques from your local mobile app startup. Your marketing strategy, however, should be clear, creative, and targeted at your intended demographic. Here are some tried-and-true strategies for promoting your app:
- Google Play Optimization
- Using social media
- Using influencers
- Public Affairs
- email advertising
10. Continue to Improve Based on User Feedback
Simply base your judgments on data if you need to be sure that the updates you publish with your application are wanted by your users. You must be aware of how users utilize your products for this.
Analyze such information and answer as soon as you can. Establish precise KPIs to track the development of your application.
As much as you can, track the app's progress, but give priority to the metrics you wish to raise. Utilize KPIs to monitor and gauge client satisfaction, or even run surveys to find out what your audience thinks. It'll enable you to upgrade.
11. Utilize Mobile App Retention Techniques
Localytics Reports state that 25% of users abandon an app after just one use. Therefore, be sure to take all precautions to prevent it from happening with your ideal app.
To keep users on your app, gather information on the preferences of your customers and update it frequently. If your app is not interesting enough, the user retention rate will be very low.
To keep consumers interested in your mobile app utilize features like:
- Using push notifications
- Loyalty initiatives
- App-based messaging
- Customize the consumer experience
- Improve the onboarding process
It is feasible to create a mobile app startup and grow it to new heights. However, only if you have a strategy in place and the correct plan in place. The sky is the limit for you now that you have access to this blog's 10+ incredible strategies for developing and expanding your mobile app startup.
If you require assistance with any phase of the creation or promotion of your app, get in touch with us.