Each one of us goes through an extensive research phase before moving on to mobile app development. Our approach revolves around two different parameters – What to Research and How to research.
But while maintaining a balance between the above two, we neglect the bridge that holds them together – The WHY part.
Not only this WHY part of market research is a bridge between the above two. It is the driving force that keeps you in touch with your ultimate vision behind your app launch. It indirectly reminds you the change you want to bring in the market through your app, and, it helps you to understand the long-term significance of proper research to lay an optimized base for product evolution.
So let’s shed some light on – The SIGNIFICANCE of market research.
The biggest significance of market research is that it helps you to – Formulate and Shape your brand story.
A brand story is what your brand is all about. Your brand story is the epitome of your success and evolution. When you get into the research phase, you mould your amateur brand story into a mature one which is more – Polished and Clear.
At this point, you become much more aware of your end goal and this helps you to optimize every single step you take ahead. The brand story is the first foundation that you lay for the successful emergence of your mobile app. Researching helps you to make this foundation even stronger.
Market research is no easy feat to perform. But once done in depth, makes two things very much clear to you – Why you need to create a mobile app in the first place. When you do, you will end up having one of the best tools for mobile marketing.
Market research helps you to draw a clear picture about the need for your mobile app in the first place. Your app might solve a particular problem and is unique as per your perception. But doing market research will help you to figure out the minute details and issues you must solve if you really want to solve the bigger problem.
Market research allows you to figure out the micro level details of your problem and ways to overcome those obstacles. You need to remember one thing that without market research you will be like a shooter who is shooting in the dark without an aim.
Doing market research gives you more and more assurance that – Yes, I need to create a mobile app for the idea that I have in my mind. You will gain more clarity towards your end business goal and will come up with even better strategies to make your app a hit.
But then here comes the most interesting part. The moment you realize the necessity of creating your app, this is the moment that you also realize that –
Your app is the biggest mobile marketing tool you can ever have.
More than 85 percent of total internet users spend more time on smartphones and apps, as compared to a PC. This is the moment you realize that your potential to reach the huge magnitude of an audience is unlimited.
Mobile marketing gives you the power to make an influence on a huge segment of an audience through a smartphone and an app. Remember that marketing is the core pillar that sustains your product in the market in the long run. The world needs to know that you and your product exists. So mobile marketing is like a magic wand which can either make or break your app.
One big layer of Market Research is the concept of – Qualitative Research and Quantitative research.
Let me be specific about both of them. Qualitative research is the initial exploratory research which we use to understand – What we need to research.
On the other hand, Quantitative research is the part where we formulate methodologies to know – How to research what we want to research.
Qualitative research helps to form the architecture of the entire building of research, while Quantitative research is like filling the house of research with necessary components such as – Strategies, Methodologies, Direction to follow and how to execute every single thing?
When you do market research, you understand the significance of both of them which is – Market research is necessary to guarantee whether you will succeed with your app or not. It can increase your level of awareness to a whole different level and it can help you to come up with optimized backup plans in case something doesn’t goes as planned.
The research phase might seem to be simple but it is not. You determine the success or failure rate of your mobile app when you do market research. If you can back every single counter question put forward by your stakeholder and shut their mouth –
Then my friend you have got what it takes to make your app a hit.
Now let’s come to the point where we talk money. Market research plays a big role in driving the – Complete monetization related activities and Sales and Revenue generation process.
Until and unless you have researched out the way competitors are making money out of their mobile app, there is no way you can figure your unique way out.
To generate sales, you need to market your app. Market research helps you to devise the most effective strategy to create a buzz among the audience. Not only you will figure out the most effective marketing strategy to promote your app but will come up with a plan to exponentially grow your sales.
Market research is as much important for sales generation as it is for revenue. Both of them sounds similar and they actually are. Sales and Revenue are directly proportional to each other. Hence no sales mean you need to figure out a Plan B to generate revenue for your app.
Another aspect of revenue generation is mobile ads. Mobile ads can be of any type such as…
If you can successfully create an audience for your app before delivering your services, you can…
Market research helps you to formulate the best strategies for in-app monetization to kick-start revenue generation.
Without market research it will be impossible to come up with a monetization strategy that defeats your competitors. So better do the math because until and unless the numbers are on your side of the court, all your attempts will be useless to make to make your app a hit.
Market research will help you to reach out to millions of users in the most efficient way. But getting your app to such a huge user base is no easy task.
At times, mobile app marketers can get pushy and might appear to be some desperate creatures who want to get the users to download their app anyhow. Don’t fall into such kind of trap.
Market research can help you to come up with a plethora of ways to get users to download your app without being pushy. You ask how?
App marketing is the core pillar of its sustenance. But so does timing. The time you decide to launch an app can turn around the table for you either in your favour or against you.
We are talking about creating an authority in the market and becoming a monopoly or duopoly. It is proved that if any business is a monopoly or duopoly, it has higher chances of becoming successful in the long run.
If your mobile app business is either a monopoly or duopoly, you have a higher probability of becoming a hit in the market. That’s because there is no one else to give you a competition. So your app’s launch time matters a lot when it comes to establishing a successful mobile app based business.
Market research is highly significant when it comes to mobile app development. This WHY part of research forms a bridge between WHAT TO RESEARCH and HOW TO RESEARCH.
Not only it gives you the direction to create and establish something magnificent but also allow you to learn many new things. Understanding the significance of Market Research is critical from the point of view of Long-Term Success and Product Evolution.
You will be only able to sustain in the market if you will STUDY THE MARKET. You cannot control something you don’t understand. Once you understand how the market works, you will surely come up with the best way to make your mobile app a hit.
Market Research and Competition: An in-depth Analysis, is one of the most effective guides to market research. It captures some of the major essentials which should be followed while conducting market research.
For each of the parameters, you will get to know how you should do research. It is a step by step guide that will help you to understand – The ways and Approaches, you should follow when you are conducting market research for you next mobile app.
Always remember that a big goal comprises of many small goals. To understand the bigger picture, you have to understand its minuteness and micro level activities. Only then you will be able to understand how much important Market Research is for a successful mobile app.
Author Bio: Shishir Dubey is the founder and CEO of ChromeInfotech, making mobile apps affordable and simple for small and enterprise businesses. I have been a technology geek since school days and was always busy experimenting with new technologies, which later turned into my passion. With the start of the Mobile Apps era, I decided to start an organization which can design and develop mobile apps as per recent technology trends and offers most innovative and stylish solutions to people around the world. Many apps developed by us got Millions $ Funding and I helped them to achieve the same and provided high-level in-depth knowledge to design the architecture of their apps.
If you are are interested in even more app-related articles and information from us here at Bit Rebels then we have a lot to choose from.
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