When you think of technologies and App Entrepreneur that have influenced society over the past couple of decades, there are very few that can claim to be quite as influential as smart devices.
Every day, the way we interact with the world is done in large part through our phones, from our social interactions, to the way we shop, work, or do business, and much more.
With apps being such a core part of our day to day lives, the potential to meet a consumer’s needs through this medium in a unique and innovative way can set many entrepreneur’s imaginations on fire. If you have an app-based business idea you’re nurturing, here’s three core tips to help maximise your chances of success.
Validate Through Expertise
Successful app Entrepreneur development relies on leadership backed by a keen understanding of the app’s market niche, meaning the problem it’s trying to solve, the processes it will be used in, and the outcome it’s going to produce.
Seeing as you’ve made it this far, it’s likely that you already have a degree of experience with the business niche your app is going to be a part of, but if you’re not an expert, it may be worth finding people with more hands-on experience than you to better direct your app development.
If your app is going to exist in the education tech niche, talk to teachers who have worked with early adopter schools and explore their pain points. If you’re developing an app for investment, then talk to active traders who publicly review apps like yours.
Countless great app ideas have fallen at the first hurdle due to business leadership not having a good understanding of the market. Make sure you get this under your belt in the idea validation stage so you can better align your app with its audience and function, and make it easier to scale your app in the long run.
Project ROI As Accurately As Possible
Any app idea needs capital behind it to come to fruition. When you begin to pitch your idea to potential investors, they’ll want to see solid data behind why you think your app is going to be successful.
No one can tell the future, but showing you’ve done your homework to come up with a realistic ballpark projection will go a long way as you enter your initial round of funding, and help you stay prepared for challenges and questions regarding your plan to scale your idea.
One of the key things to look at at this stage is comparable competitor apps, how these it companies in usa are monetising their idea, and the kind of profits that they’re probably looking at based on all the information you have to become an app entrepreneur.
It’s also important to build an accurate picture of the audience you’re going to be targeting with your app, and assess how this is going to factor in your potential to monetise your idea. For example, if your app is intended for use by digital marketing startups with less than 15 employees, how many of those businesses actually exist? How many are going to have disposable resources to invest in solutions like yours? How many can you start a conversation with in a way that could feasibly lead to a demo or sale?
Considering these kinds of questions, carrying out detailed research, and fleshing out data-backed projections on how your business can scale, will help you build a solid foundation for making those initial connections with investors, and better inform your sales and marketing strategy in the future.
Think About Marketing Early
Even with a clear view of market conditions and a solid plan for scaling your idea, new apps are at a high risk of failure if you don’t go in with a clear idea of your marketing strategy. Just like the process of actually developing your app, there’s a few ways you can approach your marketing plan, each with their own nuances, benefits and drawbacks…
In-House:
Many app entrepreneurs are attracted to the prospect of an in-house, do-it-yourself approach to their marketing. This is not only due to the fact that it gives entrepreneurs greater control over the direction of their marketing campaigns, but also because it can help to keep campaign costs low.
However, it’s important to note that this approach will tend to drag out marketing timeframes, and unless you have a strong background in marketing yourself, may not measure up to the quality of your competitors’ campaigns.
Outsourced:
On the other end of the spectrum, you have the option to outsource all your marketing to an outside entity. There are many marketing agencies such as Kau Media Group who specialise in helping companies “support app entrepreneur in their mission to grow and get results”.
The advantages of going this route with your marketing are obvious – your campaigns will be planned and executed to a high professional standard, and with a high degree of efficiency that will be hard to find elsewhere. On the other hand, this option can become very expensive, and will eat into precious resources that you may not be able to spare.
Semi-Outsourced:
For many first-time app entrepreneurs who are grinding hard to secure funding and make their idea a reality, going with a semi-outsourced approach to marketing is often the best way forward. With this approach, you’ll do most of the legwork in mapping out your own marketing strategy, then carefully deciding which aspects of this you’ll outsource to agencies or freelancers, and which ones you’ll take care of yourself.
When you decide on a semi-outsourced approach to your marketing, you have the potential to enjoy the best of both worlds, with a lower cost of marketing compared to going it alone, but with a higher quality of marketing work in the course of your campaigns.
A mixed approach like this will take a lot of work on your part in the early stages as you flesh out a detailed strategy, determine which areas you’re going to outsource, and vet marketers to find one that’s right for you. However, if you’re able to strike a balance and find a solution that works for your idea, planning a semi-outsourced approach can be a perfect middle ground for many first-time app entrepreneurs.
Final Thoughts…
When you’re first setting out to become an app entrepreneur, there are countless challenges you’ll face along the way, but by paying due diligence to your validation phase, your projections for scaling, and your approach to marketing, you’ll be able to prepare yourself for some of the biggest obstacles and optimise your business plan for success.
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