Mobile App Development: Today’s market is harsh. For both newcomers and experienced developers. But experienced developers have one special trick up their sleeve. They are aware of the Competitive Analysis techniques. But what exactly is it? This article aims at explaining what does competitive analysis means for mobile development and how you can conduct it. This will quite possibly give your application some quality improvements. And give you an understanding of what makes your application exceptional.
Mobile App Development – What is a competitive analysis in mobile apps?
Competitive analysis refers to recognizing and assessing the present and potential rivals’ qualities and limitations and comparing them with your application(s).
A lot of businesses and developers tend to ignore this crucial process. In order to market your services effectively, you must be aware of the qualities and shortcomings of your product.
Why should you perform the Mobile app competitive analysis?
Tens of thousands of apps are published on App Stores every month. Genres like Entertainment, Education, and Games have thousands of applications to choose from. Each providing their functionality and almost each having some issue or another. If we take this into consideration, how many competitors would your app have? Quite a lot. To gain the upper hand in the market, it is important to gain all the information that you can get. Analysis of your competitors before the launch of your app is thus a necessary step.
Furthermore, the analysis gives you the idea of what users engage with, who are these users, what attracts them to the app, and why they leave.
Mobile App Development – How to do the analysis?
The following are the ways you can perform an in-depth analysis of the applications in the market:
1. Stalk your competitors
Regardless of how creepy it looks, it is quite important to have a good grasp on the rivals and their products. Understanding your opponent’s product features, progress, and issues allow you to learn and grow your product.
The best way to do that is by experiencing their products first hand. Notice how it works, how it feels, and what things make it good or bad. Having this information at your hand is quite beneficial. Anyone who wishes to have an edge over the market must learn from their enemies.
As the saying goes, “Keep your friends close, and your enemies closer.”
2. Advertising Insights
Understanding how the top apps advertise their product gives you essential information on how to promote your app. Everyone starts from the beginning line. And the first few steps are quite crucial in determining the future of your application. Whether an application finds success or loss depends on quite a lot on the early day advertising strategies.
3. Find your balance
Coming up with an application that is so unique or so good that it stands out from the other apps out there is not easy. If you plan to build an app that solves the problem of the currently available apps, you should keep in mind what change is needed. And you should never be reluctant to take a step or two back and plan and change things again.
4. App Store Optimizing
App stores are the hubs where your product meets customers. To get a large user base, it is important that your app appears in the top search results. You should structure your ASO based on the analysis of your rivals having popularity. You can improve on application caption, improve the promo video and images, and add or remove the metadata based on the research of your opponents.
5. Developing a Competitive analysis matrix for your app
It is important to analyze the competitor’s product using a detailed matrix technique. You can gather information on the application execution, detailed app functioning, methodology, structure, and core interest, and all the unique features it provides. Incorporating this data into your app will allow you to further enhance the overall application functionality and give you an edge over other apps out there.
6. Target Need Analysis
The targeted audience has needs that they want your apps to meet. Even a small service that fulfills the needs of the users can have a huge impact on customer satisfaction. These small things give apps edge in a highly competitive market where thousands of apps provide similar services.
After the launch of an application, it is imperative that you guarantee that the application satisfies the requirements of the intended audience better than the competition. The audience Need analysis addresses questions like who will profit from the application, the socioeconomics of the clients, how you can offer them what they need. These will allow you to further develop your application.
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7. Examine the app industry
There are no better teachers than those who have tried the things you are going to try. The assessment of the industry veterans and specialists will provide you the answers to any doubts you might have. It is perfectly fine to examine the apps which have done well, what has worked, what hasn’t, and any possible future patterns. These things can often be learned by attending various meetings and expos held now and then.
The objective of the analysis isn’t aping the competition. It is to give you an edge over the market. Companies use these tactics to gain bits of knowledge to assess their marketing strategies.
Using these methods will ensure that you get a practical interpretation of where the competitors stand and how you can go ahead of them.