In the recent past, we all have observed several success stories in the world of mobile apps. Instagram, Twitter, Facebook, WhatsApp, and many others have made huge profits.
Just a few random facts associated with the mobile app business:
- The enterprise demand for app development is rising continuously.
- Nearly 60% of app owners have business revenue goals for their apps.
- The global revenue apps keep growing year-on-year. However, only 0.01% of all mobile apps contribute to this revenue.
- On average, people spend nearly 2-3 hours per day on different apps on their mobile phones.
In order to build a profitable app startup, here are a few tips. These top tips will help a startup in becoming a successful mobile app development company in the future.
1) Developing a Minimum Viable Product (MVP)
The most important step in starting a startup is to create an MVP that validates the demand for a particular solution, solves a problem and addresses a need for a particular audience. The reason behind launching MVPs and not fully developed products is that the nature of the market is constantly changing. Once the MVP is out there for the customers, one can always introduce changes and make modifications in the app, something that Twitter and Instagram did. Hence, it makes sense to start with a basic version of an app that can be developed quickly later on with a small budget.
2) Marketing the app to acquire users
Once an MVP is launched, the startup mobile app development services needs to get customers to it. For doing this, it is essential to find out the correct set of the target audience for the app. In order to promote the app, different marketing tools like search engine optimization, search ads, push notifications, content marketing, and social media networks need to be used. By using the App Store Optimization (ASO) technique, the visibility of a mobile app in the app store’s search results can be improved.
3) Finding a suitable market
For a mobile app to become successful, it is very important for the mobile app development company to launch the app at the right time, in the right market and in the right place. In most cases, it is very difficult to achieve all three simultaneously. However, in the long run, most startups need to arrive at this combination.
4) Seeking funding
Building investor relationship is the key to acquire funds needed to scale up the validated MVP to a mass market. With a transparent investor-ready business plan and solid pitch deck design, one would be able to prove to the investor why the startup is worth investing in.
5) Build, Measure, Learn and Grow
The mobile app industry has become extremely competitive and mobile app startups must focus on providing the customers with novel features and functions they need to solve their challenges.
It is only growth that will help a startup mobile app development company to become successful in a highly competitive market in today’s world.
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