The world is heating with startups around the world offering solutions to our day-to-day problems with ‘Mobile Apps’. Not just startups, even century old establishments and enterprises are launching their mobile apps to cope up with the changing trends and tap into a previously untapped audience base.
Did you know that as of June 2016, more than 100 billion mobile apps have been downloaded from the Apple App Store alone? Google Play? 65 billion. So no one will bat an eyelid if you tell them you have an idea for a revolutionary app.
Witnessing the app buzz in the market, I thought it might be a good idea to address some of the common questions worth exploring before having your app developed by an app development company.
1. WHAT IS YOUR BUSINESS MODEL?
A business model is a set of clear intentions about what your app is going to do, how is it going to expand and what are your long term goals with the app. Without these specifics, your mobile app development project will lack motivation and might not reach its full potential. Also, a well-defined business model is essential to lure in the right investors and help them see your idea the way you do.
2. WHAT PROBLEM IS IT SOLVING?
Apps across various market verticals targeting a multitude of platforms are released every day. The selling point of your app isn’t that it is an app but it is the ‘idea’ behind the app. What problems does it address and solve? All of this boils down to a comprehensive market and competitive research. The app stores are full of apps that missed the mark because they didn’t add any value to the users.
3. RISK V REWARDS – IS YOUR APP WORTH IT?
Mobile apps are a real investment of time, money & energy with no guaranteed success. Your app’s cost depends upon several factors such as the kind of problem it is going to solve, the kind of features it will have. Despite the present gold rush state, do not be mistaken that an app is a get-rich-quick scheme. Get hold of the real ROI – Return on your Idea – weigh it against your expenses.
4. WHICH PLATFORMS?
Most companies start out by rolling apps for a single platform first and then eventually rolling them to others. So it makes sense to decide upon your target platform and convey the same to your app development company so that they can help you with appropriate solutions and consult you with the best possible solutions.
5. UNIQUE SELLING POINT
This is a rather old school/ conventional marketing belief that when you are entering any niche you need to have a unique selling point to make yourself stand out from the competition and urge users to leave their current providers and use your app instead. Again you need to ADD VALUE to their experience. So it’s worthwhile researching what’s already out there and what do they offer and how your app can fill the void.
6. ALTERNATIVE ROUTES
Just because apps are trending doesn’t mean you need to have an app first. You could start out with a website as your distribution channel for your offerings. This ensures cost savings since you don’t need to worry about operating your digital footprint on several platforms. The point only getting an app developed if it adds an advantage to your idea because of its ready mobility.
7. REVENUE MODEL
At the end of the day, your app needs to pay its ‘stay’ one way or the other. You need to be decisive since day one about how will your app generate money for maintenance and turn profits in the longer run. There are different ways to go about this – You could offer your app for a certain amount of upfront payment, Keep in-app purchases, or simply integrate ad-platforms within the app and earn via mainstream advertising.
8. MARKETING MODEL
Simply existing on the app stores does not guarantee downloads? Every app needs to have a marketing channel to reach out to potential prospects. Whether you would leverage social media outlets, Content marketing, or PPC ad campaigns. Marketing is an important cornerstone that decides the success of your app.