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How to Nurture an App Idea into Lucrative App Product?

  • By Hidden Brains
  • February 6, 2018

App Idea to Reality -HiddenBrains UK

Apps are now a commonplace commodity and a part of modern digital living. The number of app users is growing at an unprecedented rate and this trend is expected to continue as smartphones are adopted even more. There is no better time to make entry into the exciting world of mobile app development than now!

The family of 3.5 million Android apps in Google Play Store and 2.2 million iOS apps in iTunes speaks for its widespread usage and popularity among smartphone users. Now that the competition is at its peak in this arena, how to mark your unique presence felt in the marketplace? App development companies London are helping people in nurturing the innovative app ideas into a lucrative product.

In this blog, we shall discuss the fundamental strategies and execution plan for transforming your app idea into an app product.

Let’s know how!

Thought Of an App Idea to Reality? Rethink on it

You have an app idea, that’s great, but how meaningful it is? When you are planning to introduce a mobile app to the most used and popular marketplace, it has to be something that is unique. Only if your app idea has the capability to do something that existing apps cannot or do the same thing in a simpler way, it has chances of being recognized in the App Store.

But, how to validate whether your idea has the required potential? It’s simple, find out answers to following questions:

  • Can your app make a significant difference in end-user’s lives?
  • How does your app make people’s lives better?
  • Does the app solve a specific problem that people want to get rid of?

The crux of answering these questions is to verify that your app is useful and makes sense for people to choose it over existing ones.

“If there is no problem, there is no solution, and no reason for a company to exist. Nobody will pay you to solve a non-problem.”

Vinod Khosla

Address the common problems faced by users and give a solution through your mobile app. Identify problems and keep those in consideration while thinking and rethinking of an app idea.

Get third party opinion to validate the purpose of your envisioned app. This can be done in following ways:

  • Socializing: Call your friend on a cup of coffee to discuss your envisioned app and give honest feedback on your objectively-presented idea.  
  • Online Reviews: Conduct online surveys and polls to gather feedback from the online audience.
  • Events & Gatherings: Attend all events and gathering that mark presence of community you are planning to target to get assistance and response for your app idea.

Gathering opinions and insights of people of ‘real world’ helps you to test the validity of the idea and know whether you are on the right track or not.

Do your homework well – Market Research

One stage down the line, you are now assured that your envisioned app solves a solid customer problem. Next, you also have validated the idea by talking to different people. Now is the time to study the market in which you plan to operate. This step is crucial in transforming your app from the mere idea into a purchasable download product.

While doing market research, keep a note of following pointers:

  • The size of the total available market as per your niche
  • The size of the market that you could possibly reach through effective advertising and marketing
  • Approximate size of the target market that contains people that would most likely show interest in your upcoming app product

When you conduct in-depth market research on these lines, you would get an idea of the actual size of the target market. This estimate is essential to check whether the market is big enough to support the development, marketing, sale and ongoing updates of the app. Major research-based agencies that help you in calculating these estimates are IBISWorld, Gartner, Forrester, Ovum and more.

After getting a general overview of the market, it’s time to dive deeper and study direct competitors and their strategies.

“Keep studying the competitive landscape to identify new opportunities. Never lose track of your competitors.”

Get a thorough understanding of market competition to gain information on following parameters:

  • Know the number of competitors you would face in the marketplace and categories they operate in
  • Understand how they solve the user’s problem to identify new opportunities and discover new possibilities
  • Make a roadmap of how would you enter the market and stand out from competitors by highlighting key differentiators 

Congratulations! You have reached halfway in the journey of transforming an app idea into a reality. Though halfway, you might have understood by now that nurturing an app idea is not any layman’s task. It requires the expertise of app development companies London that can guide you at each stage to ensure you are moving ahead in the right direction.  Stay tuned to know the second part of app nurturing journey that is covered in How to Nurture an App Idea into Lucrative App Product – Part 2.

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