Many startups in recent times have started to invest heavily in the sector of mobile app development. But only a few have emerged successful. It has been observed that almost four-fifth of the startups have failed in their efforts due to poor planning.Their potential has been severely affected by issues in the development stage. Owing to these factors, although apps are increasing at a rapid pace, the revenue from each is falling gradually. With over 5 million apps in the Google Play and Apple App to choose from, the market space is getting crowded. So one has to be extremely aware and knowledgeable before making the decision to invest in a mobile app startup. Here are some common mistakes that investors and young entrepreneurs should avoid while investing in a mobile app startup.
These are the three questions that you must ask yourself before investing in a startup.
Proper planning is essential for a startup to succeed in this increasingly competitive scenario. It helps a great deal in charting out a clear plan of action. It further enables the startup to foresee the difficulties that they are likely to face along the way. In short, a foolproof plan is the bedrock of any startup that aspires for great success.
The design of the app ought to be instantly attractive for it to reach out to a larger section of the audience. Only user-friendly apps can gain traction in these times where customers have a plethora of options to choose from.
The nature of the design should be chosen in accordance with the preference of the customers. Most users have little time on their hands these days. So the content should be easily comprehensible. It has to be free of complications.
Basically the app has to be designed in such a simple and accessible manner that the users can easily move from one option to the other.
A well-devised marketing strategy is undoubtedly the key to your success. Developing an app alone doesn’t suffice. It ought to be marketed inventively in such a manner that it instantly reaches out to the target audience.
The marketing strategy adopted should be entirely different from the one chosen by the competitors. It should clearly highlight the advantages the app has over the competitors. Through the clear-cut strategy, the marketers should evoke a feeling that the app that they bring to the fore is clearly the best of the lot.
The communication for the marketing strategy should be finalized only after a lot of analysis, research and brainstorming sessions. The marketers can rely on SEO, ASO, and other social marketing campaigns to enhance the popularity of the app.
Not everyone is your customer.
Put an enormous amount of effort into identifying your target audience as they are the ones who determine the success or failure of your mobile app.
Before devising the marketing strategy, you must make an effort to identify their behaviour. The strategy has to be formulated in accordance with the basic motivation of the target domain.
Categorize your potential customers on the basis of age, type of device, occupation, and location.
The compatibility of the app should be determined in the development stage itself. Certain startups skip the testing process altogether owing to needless expenditure. But this affects the app’s performance adversely. The developers should take special care to ensure that the app performs well on all types of devices compatible with the platform.
The startups should ensure that they don’t clutter the app with way too many updates. It could end up ruining the user experience. Though the updates are important as far as security and performance quality is considered, rolling out too many of them at once could have an adverse effect.
If you don’t consider your user’s point of view, you may be taking the first steps toward failure.
Budget-related concerns have affected the prospects of numerous startups who started off on an ambitious note. The startups should be aware of the financial problems that lay ahead. A comprehensive budgetary plan should be formulated at the very beginning of the project.
Make sure that there are enough backup options to fall back on, in case there is a paucity of funds.
The startups should also be aware of the fact that the start is going to be extremely slow. And it will take some time before they start generating profit.
The aforementioned points will be useful for ambitious entrepreneurs who are extremely passionate about app development.