In the previous article, we wrote about Tips to build Fitness and Health Startup. This time, we would like to concentrate your attention on the more general topic of how to build a mobile app startup. The main reason is that world statistics if horrible. Did you know that only 3% of startups succeed? This means that if you are looking to build a successful mobile app startup, the odds aren’t necessarily stacked in your favor.
If you are looking to start a mobile app business, you need to plan ahead and have a solid strategy in place. Here are our six steps to build your startup and maximize the chances of success.
Startup Step #1. Find a solution to a problem
The mobile app market is growing and growing all the time. Currently, there are over three million different apps in the Google Play store alone!
What does this mean? It means that if you want your app to stand out in a crowded market, it needs to add value to people’s lives.
When you are planning your mobile app startup, ask yourself the following questions:
- Who is your target audience?
- How old are they
- What gender are they?
- Do they have kids?
- What job do they have?
- Where do they live?
- What are their hobbies?
- What pain points does your target audience have?
- How does your app resolve their pain points?
- How will you promote the benefits that your app has?
Knowing the answers to these questions will help you develop your app and market it to its full potential.
Startup Step #2. Research your operating system
In an ideal world, you would be able to launch your mobile app on IOS and Android at the same time. However, this is not always the case. You may only have the time and budget to start on one platform.
How do you choose which one to go for? This is a crucial choice. Choose the wrong one, and you run the risk of your mobile app tanking.
This is not just a dilemma for small startups. Even Clubhouse, one of the most talked-about apps of 2021, is not available on Android yet!
Ask yourself these questions when thinking of which platform to join:
- Which platform is your target audience most likely to use?
- Which programming language will your app use? Different languages translate to different platforms better
- Does your app have paid features? IOS users are generally more likely to buy apps and in-app purchases than Android users
- How much time and money do you have? There are more Android smartphones out there than IOS ones at the moment, which may mean more time spent testing
Startup Step #3. Get funding
The next part of your mobile app development strategy is to determine where you will get funding from.
If you’re new to the startup game, there are four options available to you:
- Bootstrapping. This is when you fund the costs of your startup yourself. This means you don’t owe anything to anyone, but if the startup fails, you will lose what you invested
- Bank loans. A bank loan will provide you with the money you need to launch your mobile app, but it can be a challenge to get one. You will need to provide proof that your startup will be a success, and you will be able to pay the money back
- Angel funding. Also known as seed funding, this is when an investor (or a group of investors) provides capital to your startup in exchange for equity. As many investors are entrepreneurs, they can also provide you with guidance to help your mobile app startup grow
- Crowdfunding. It allows you to pitch your idea online and get investment from interested people, usually for a reward of some kind. Crowdfunding has become popular as it is cost-effective, allows you to promote your idea to a worldwide audience, and lets you see if your app will be a success. Did you know that the average crowdfunding campaign raises over $28,000?
Startup Step #4. Prepare your pitch
If you decide to ask for investment, you will need a pitch deck in place. This is a brief presentation that will describe your app and how you will make money from it.
A pitch deck should include:
- Information about you and your startup
- Information about your target audience
- The pain points they have
- How your app will solve their pain points
- A walkthrough of your app and how it will work
- How you will monetise your app
- How you will promote your app
Keep it short and keep it simple at this stage.
Startup Step #5. Launch your MVP
Before you go all-out on building your mobile app, you need to create a minimum viable product (MVP) first.
An MVP is a ‘no-frills’ version of your app with limited features. It will help you determine how many people are interested in your app and give you feedback to help you develop the final product.
Startup Step #6. Start promoting
When you have launched your MVP, you can’t sit twiddling your thumbs waiting for people to download it. You need to promote the app to your target audience.
The promotion you carry out will ultimately depend on your target audience and the budget you have. Some of the ways you can promote your mobile app include:
- Social media. Using Facebook, Instagram, LinkedIn, YouTube and Twitter to reach out to potential customers
- Influencer marketing. Using industry experts, famous bloggers and celebrities to promote your app
- Reviews and testimonials. Positive reviews are the cornerstone of the app stores and will distinguish your app from similar ones already on the market
- Pay per click advertising (PPC). Encouraging people to download your app by displaying adverts on social media and search engines
- App store optimisation (ASO). Optimising keywords in the Google Play store and the App Store to increase the odds of people discovering your app
Anyone can create a mobile app, but creating a mobile app that will stand the test of time takes a lot of hard work. However, with a strategy in place, starting a successful mobile app startup business will be a little bit easier.