81.5% of respondents to a Good Firms Survey agreed that inadequate market research leads to the failure of a business
Today we’re kicking off a brand-new series on launching a mobile app, From Idea to Launch, guiding you through every step from conception to launch and beyond. Our focus for today is Phase 1: Planning and Research.
We’ll be looking at:
- Tech: Market Research & Competitive Analysis Tools
- Trend: AI-Confidence, Retention Trainwrecks, Massive Mobile-First Opportunity
- Tactic: Simple 5-Step Guide
Let’s jump right in!
Embarking on the journey to app success begins with a crucial first step: the planning and research phase. This stage is your foundation, where valuable tools and technologies come into play.
Imagine having a compass and binoculars for your expedition; market research provides the direction, revealing user needs, while competitor analysis offers a clear view of the landscape, showing gaps and opportunities. With each insight and piece of data, you build a solid roadmap, ensuring every decision is informed and strategic.
This preparation transforms your app from an idea into a masterpiece poised to captivate and serve its users.
Tech: Market Research & Competitive Analysis Tools
Market Research:
Survey Monkey
- Insights: Gain a direct understanding of user needs and preferences.
- Benefits: Create a more user-friendly and attractive app.
Google Analytics
- Insights: Identify which features and content users engage with the most.
- Benefits: Focus development on high-demand features to enhance user satisfaction.
Competitive Analysis:
Sensor Tower
- Insights: Learn from competitors’ strengths and weaknesses.
- Benefits: Enhance your app by implementing successful strategies and avoiding common pitfalls.
SimilarWeb
- Insights: Discover key factors driving competitors’ success.
- Benefits: Inform your own strategy to improve market positioning.
TRENDS:
#1: AI-Confidence
72% of participants in the Qualtrics report are more than confident in their abilities to apply AI to their market research.
Key Takeaway: This underscores a growing acceptance and readiness to leverage AI for deeper insights and competitive advantage, indicating a substantial shift towards more advanced, data-driven methodologies in the industry.
#2: Retention Trainwrecks
25% of consumers abandon an app after just one use, and 71% of global mobile users admit to uninstalling it within three months of downloading.
Key Takeaway: Access to data has a direct impact on the quality and effectiveness of business decision-making, emphasising the need for robust data infrastructures and analytics tools.
#3: Massive Mobile-First Opportunity
195.4% of the South African population are accessing the internet via their mobile phones.
Key Takeaway: There is a significant opportunity for businesses to reach and engage their audience through mobile-first strategies. Capitalising on this trend can enhance market penetration and customer engagement.
TACTICS:
The Simple 5 Step Guide:
By following these five simple steps, you consolidate your planning and research efforts into a clear, actionable plan. This structured approach ensures you are well-prepared to move forward with your mobile app development, keeping your project focused and aligned with user needs and market opportunities.
Here are the 5 steps to a successful planning and research phase:
Step 1: Identify Your Market
Step 2: Define App Objectives
Step 3: Conduct Competitive Analysis
Step 4: Gather User Feedback
Step 5: Develop a Roadmap and Marketing Strategy