The modern app development business is pretty lucrative, as it allows for generating a decent income. However, this business area is also a highly competitive one and having a “super nice application idea” is usually not enough to withstand a tough competition and win recognition from the users. Before launching any application, it is necessary to research the market. Otherwise speaking, your first and foremost task is to make sure that users are interested in your product or to study exactly what products users will be happy to have. If you manage to do that, you will save lots of money, time and effort on the app development.
Here are a few practical recommendations on how to do that.
Decide On a Targeted Market Niche
First of all, it is necessary to decide on a market segment you will offer your product to. Basically, there are two types of market segments that you can cater to a broad niche market and a micro niche market. For example, you may focus on the needs of teenage boys, obsessed with adventure games, or you can work on an app that caters to the needs of professional lawyers, doctors, teachers, etc.
If you choose a micro niche segment you must be braced for getting a lower traffic, however, this does not mean you will have a poor revenue, since a highly targeted traffic results in a higher rate of conversion and therefore in a higher price.
To achieve success when targeting a broad market segment, you need to focus on an overall ecosystem of your application.
Identify the Hottest Trends
Find out what types of apps are the most popular on the Play Market and Apple Store. Check the latest ratings of the hottest apps. To make this process faster and easier you can use tools like Apptrace, which is nothing else but a global application ranking system.
Determine Worldwide Trends Beyond the Play Market and App Store
To learn more about the needs of your potential users, you can also try identifying popular trends and topics beyond the Play Market and Apple Store. You can find lots of tools that will help you do that in a quick and hassle-free manner. Perhaps the most popular and widely used tool is Google Trends. This is a public website that gives detailed information about the most frequently entered search terms. The information is based on Google Search results and embraces search terms entered by users all across the world.
One more awesome tool you can use for a market research is Google Keyword Tool (GKT). Once you have identified the most popular search terms provided by Google Trends, you can plug in the search terms you are interested in into Google Keyword Tool to find out their exact monthly quantity. One more good reason to use GKT is that it will offer a list of cognate searches which will give you a better idea of what product might be a success.
Create a Landing Page
To showcase a new application even before it is launched, get opinions of potential users and at least a slight idea of whether or not people will want to buy your app, it is recommended building a landing page. It is the single page that gives information about your products and usually has a big button, instigating users to download the application.
A thorough market research significantly increases the odds of creating a product that will ride high!