‘I have an app idea’ is a common thing we hear. But the next part holds greater importance. What steps are you going to take after that ‘Eureka’ moment?
Will you learn how to develop an app or go for an expert - either an app developer or an app development company to build your app idea?
Don’t know yet. Confused about which way to go?
In the course of this article, you will get a clear-cut idea of what to do next after you have an app idea.
So where to begin?
What to do next after your ‘I have an app idea’ moment?
Follow these 7 steps, which will require hard-core efforts from your side, but trust us, it will be worth it in the end and will surely simplify your mobile app development process.
Get the better of them; you will be along the right lines to be a technopreneur and bring your vision to reality.
Pen down your app idea
It is scientifically proven that when you pen down your goals - your ideas, it will give you clarity over your goals and bring you a step closer to them. And more importantly, if you pen your ideas on paper, you are 42% more likely to achieve them than those who don’t write.
Penning down your idea on paper is no rocket science. It will serve as a checklist to help you carry out things faster. It is a significant first step to flesh out your idea and evaluate your app development requirements. Because if you need more clarity about your app requirements - then it is evident that the one you have partnered with will also not be, and that will create more confusion.
Pen your app idea. Write the main app requirements you want to focus on and the features you think will support your app. Write the Unique Selling proposition (USP) you have in your mind. Even write a round-about figure of how much investment you will need. Moreover, write everything that comes into your mind when it comes to your app idea and gain further clarity.
Research your app market
Now that you have decided to venture into the app market. It’s necessary to have a full-proof idea about your app market - mainly your app's category.
For instance, you are thinking of creating a lifestyle and beauty app. Then, you must understand the lifestyle and beauty industry and what works out and what not. Find out the brands already in the industry - what works for them & what doesn’t, their strategies, products, marketing tactics, etc. And more importantly, research your target customer, the total consumer rate, age group, preferences, etc. and that will give you in-depth insights about what you need in your product to stand out from the crowd.
Dive deeper and research the two most important aspects of your app category:
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Your competitors in the market
Your competitors have already been in the market. Let’s accept the fact; they have more experience in the field than you. Thus, take their app development experience as your hypothesis, delve deeper into their weakness & strength, and take notes on where you can improve and offer your users a better experience.
Researching competitors will also help you identify the latest trends & understand the market better & up your success rate.
Your customers are the ones who will decide whether your app will be successful or not. Therefore, you will have to attract your target customers. So the big question is - how can you captivate your users to use your app? Have plenty of ideas about your target audience - location, preferences, age group, what they like & dislike, and many other things.
Researching your target customer will help you create your user persona and help you make concrete decisions on essential aspects of your app like - the marketing & monetisation part.
This is the make-or-break part, don’t overlook it.
Craft your Unique Value Proposition
There are 8.93 Million apps on the App Store, and your app will be one of them. Don’t you think you will have to provide something unique that is uathúil to stand out in the crowd and attract your kind of audience?
Sounds harsh, but it isn’t that tough if you craft your unique value proposition tactfully.
It doesn’t necessarily mean that your app should be the first ever in the market. Still, it should have an element that distinguishes you from your contenders.
Try asking the below questions to find your USP
- What your opponents don’t offer or don’t have?
- One thing that forms the main component of your app. How can you improve it, like making it effortlessly simple? Like Uber - just in 3 steps - Request, Ride & Pay!
- What’s your product's remarkable quality? For instance - Slack - has all the productivity tools in one place.
Whereafter, you can pair your USP with an eye-catchy headline that gets attention wherever needed. Even promote your brand, spotlighting your USP and keeping in sync with users’ wants.
A prime example of a well-crafted USP is Shopify’s “The platform commerce is built on.” Their main USP is allowing the creation of a fuss-free online store without any coding or design, which is beautifully reflected in their headline.
Just be genuine in your USP; the rest of everything will follow.
Now let’s talk about the budget & investment part, how much budget you must set, etc.
Budget & funding part
Turning your app vision into a concrete app is a real thing. You will require money, a budget that is designated for your app development.
The first question is - How much budget should you set?
Based on your app requirements, you should set your budget. If your app will be a combination of high-end features, your app development cost should be around €50,000 - €1,00,000. And if your app idea is simple, your cost of developing an app would wrap in €10,000 - €50,000.
In this case, it is better to consult an app development company; they are the ones who will be able to give you an accurate ball-park estimate based on your app idea & requirements.
Remember, 15% of your budget for your marketing strategies too :)
Regarding the funding part for your part, below, we suggest some websites through which you can reach out to investors.
These websites help you pitch investors so that you can have financial aid to back you up. You can also opt for Angel investing if you can give the investor some share of your app. Ensure to be firm & determined while pitching your investors.
This video will help you if you want more information on getting funding for your startup app idea.
Now let’s talk about the vital part > what will be your monetisation strategies?
How will you monetise your app?
With the respect to all the money you have invested in your app, you would want your share of Return on Investments (ROI), too, right? Thus, you must have a monetisation strategy that tops your money game and keeps the cash flowing.
There are several monetisation strategies you can imply to generate revenue in 2023.
Freemium is a model between an app which is free to use, at the same time, also has a premium approach.
For example, Canva is a popular design app which is free for all. Still, when it comes to top design features or design elements, the app adopts a premium approach & users have to either buy some of the parts or go with the pro plan. It is an excellent example of strategically leveraging the freemium model.
Used by top brands like Amazon Prime & Netflix, the subscription model is an effective monetisation model. It enables brands to give their services on a subscription basis for a particular time, which can be monthly, quarterly or yearly.
The subscription model is a fruitful choice, as it helps generate revenue through recurring periods.
If you watch Youtube, then you know what in-app advertising is. A popular choice among the masses, you can implement an in-app advertising model if you don’t want to charge your users anything; simultaneously, you want to make money.
Looking forward to giving your users a prime experience? Then, consider the premium model - where you will have to charge users from the beginning but ensure that your users get a premium experience.
Take Spotify, the famous music streaming platform. It offers various premium plans, which include listening to millions of songs ad-free, listening to songs offline, downloading songs & much more.
There are many other monetise strategies in the market; choose the ones that go well with your brand identity, but choose wisely.
Time to look into the most crucial part to take off your app proposal into existence.
The app development part
Once you are done with the background part of creating an app, it’s time to switch over to the thing which will actually get you the app in your hand.
Go on sites like Clutch, Good Firms, and Business of Apps to find an expert app development company that can create an excellent app according to your vision.
Connect with them, and ensure your vision is in sync with their app development approach. Explain your needs & requirements, your goals, and your strategies clearly to your partnered mobile app development firm. Set your priorities very clearly from the outset. Ask them to create a detailed scope of work for you, consisting of all the phases & stages that will form your app development process. All-in-all, ensure your vision is in line with their process, and you receive a high-performing, secured mobile app that stays true to your app vision.
If you want a detailed guide to the app development process, especially app development in Ireland, this reference will greatly assist. Make sure to check it out.
Launching it on the App Stores
Once your app is completely created and thoroughly tested, it’s time to get it live on the App Stores - Google Play Store & Apple App Store. Your app development service provider will publish your application and add necessary screenshots & videos of your application to support your app.
What next? On the go, you will have to start your marketing efforts too. Utilise your social media platforms, reach out to your potential customers, and consider partnerships, influencer marketing, and paid advertising to generate initial traction. Collect user feedback and continuously refine your marketing approach to attract and retain a loyal user base.
Well, let’s explore the forecasted state of the app market to discern things correctly and which red flags to prevent and which items to take care of.
App market in figures
There's much scope for mobile app development in the coming years in terms of market revenue and growth. Digital Information World projects that by 2027, global mobile app revenue is expected to reach $189 Billion, with massive Compound Annual Growth Rate (CAGR) of +8.4%.
According to Statista, the highest grossing revenue will be made by gaming apps, followed by social networking apps. Entertainment apps are on the third number of the list, each making $352.1 Million, $183.09 Million, and $48.8 Million, respectively. The stats clearly show that gaming apps will have the highest value in the categories.
By 2027, Apple’s App Store revenue is expected to reach $125 Billion, and Google Play Store’s revenue graph shows an estimated growth of $60 Billion. And that puts forwards that iOS will be a more platform for launching your app compared to Android.
Apparently, ample opportunities are in your hands. Take the giant leap and start your app development journey. All the best. Keep working hard. The best is on its way!
Wrapping up,
Going from having an app idea to launching it on the App Stores, your journey will be enticing. Even after the launching, you will have to continuously maintain & update your app & keep the initial fire.
Wanting to build your mobile app? Here at Square Root Solutions, we offer end-to-end app development services, from validating your idea in the initial stages to launching it on the App Store. We have an elaborate team of talented designers & developers who will be happy to assist in bringing your app to virtual life. Let’s get going. Connect with us today.