Market Research Bubble

5 Ways to Validate Your App Ideas With Market Research

Your company has an exciting new app idea, and you’re ready to engage a development team. At CabForward℠, we know turning that great app concept into a success begins with market research and a strategy developed in our Discovery Sessions. These ensure that we build the most user attractive/user friendly product possible, and also save you production time and money.

Discovery SessionKey questions we seek answers to include the following:

  • What is the right product to build?
  • Is the app idea compelling to customers?
  • What do customers want in an app?

To find answers to these questions, we validate your app ideas with market research.

1. Broad vs. Micro Niches

The fundamental starting point is to first identify an audience, or target market. This might be a large or small segment, each of which presents unique pros and cons. While a greater target market gives you a larger pool of potential customers, you’ll also face more competition. Alternatively, a micro niche won’t attract as much traffic, but it can be designed to more specifically meet the target audience’s needs, resulting in higher conversions.

2. Target Market Research

Your target market certainly has goals and motivations, as well as pain points. Uncovering these ensures your product fills their needs, and thus attracts and converts. Talking to individuals from the segment you want to monetize, as well as gathering survey data from them, is key. It’s helpful to listen to what people are saying on Facebook, Twitter, Quora, and other social networks. In addition, the reviews on competitor’s apps are littered with invaluable information. These don’t have to be apps similar to yours; however, they should serve your target market. Most importantly, note what inspires people to rave with positive reviews and what irritates them enough to comment.

3. App Store Trends

Happy clientsThe App Store charts handily reveal up-to-date market trends. Top Grossing Charts reveals what people are currently moved to spend money on, as well as which apps have attracted a substantial audience. Top Paid Charts further reveal which apps people are most willing to pay for. By contrast, Top Free Charts indicate which apps get more downloads. It’s important to note that when searching through the App Store on your mobile device, or on iTunes, you’ll only see the apps that are popular in your country, not globally. In this regard, the metrics are somewhat skewed.

4. User Stories

Next, we have user stories, which are short descriptions of what your customers will do when they use your app. They take into account who will use your app and how they will use its features. The focus is on the value or result they get from taking various actions. At CabForward, user stories kick off a team conversation about the purpose of these features and the best way to make them. The results of this research help us understand why users make the choices they do and how they use products in their environment.

5. Minimum Viable Product Deployment

Finally, the minimum viable product is a rough prototype of your app that reveals if, or how, a customer will interact with it. The prototype is deployed to a subset of your target group (beta testers) that are more likely to give feedback. This research stage helps the CabForward team, and you, to discover if an app fits your market’s needs. In addition, it identifies the potential usability and technical feasibility. At this early stage, we’re able to track how users access and move through an app, as well as fail points and places where they become confused or drop out. Minimum viable product deployment is a key strategy to avoid building products customers do not want.

Market Research BubbleThese are only a few ways to validate your app with market research. Though time consuming, these are worthwhile steps to ensure the success of your product. We are happy to talk to you about these, and other, processes with which we can help you, when you select us to be your strategic technology partner. We are proud to be product development geeks, and, stand out as the geeks who care about your long term success. Learn more about CabForward R&D services.

 

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