If you want to do market research for your App and make sure that you are on the right path then you need to complete these 3 steps including, Keyword List, Demand Analysis and Competition Gold Mine. In today’s post, I’m going to reveal the most reliable market research method I’ve used to build, publish and grow successful Android and iOS Apps one after the other.
Before we go through the market research steps for your App, first I want to define the goal of market research so you know how valuable it really is and how it can save you $10,000s and months in wasted resources which you will never get back!
Among the clients I’ve helped to build and publish profitable Apps, those who do proper market research are the ones who are getting the most results.
By doing market research you will be increasing your chances of success and you will be building a much better and effective App that’s going to help the users on a much larger scale.
Basically, we do market research for these purposes:
– Identify Demand
– Identify What Features Are the Most Important
– Measure Competition
You can go way deeper with market research including defining the perfect user avatar, etc. But let’s stick with these 3 for now.
Being an App owner since 2011, I can assure you that the most single factor in the success which I’ve generated comes down to an in-detail market research. I look at market research as a superpower which allows you to see the market dynamics and how things are related to each other in every market.
Building successful Apps is about understanding the users, their needs and the solutions which we can create in the form of mobile Applications and market research is the only process which gives you a wast insight in all those things.
In my book “Zero To App” I go deeper into the process of market research for Android and iOS Apps for those who want to take things further and learn the secrets. So make sure to grab your copy of the book here if you are interested and want to build an App that can grow 10X faster and bigger.
The simplest and most effective way in which you can do effective market research is as follows:
Step 1: Make a List of Keywords
The first thing to do is to make a list of keywords used by your target market (future users) to find your App. This simply is the search query that the potential user uses to find your App on Google Play or App store.
For example, for parents who are looking for an App that’s going to help them stop their bay from crying, they might use something like “How To Stop a Baby From Crying”
Make a list of at least 10 search queries which you might think your potential users will use.
After you have your list move to the next step.
Step 2: Search The Keywords
Now go to Google Play or App store and simply enter each query to see what Apps will come up in the search results.
The Apps you will see are mostly going to be your direct competition when you launch your App. But don’t worry, along with being the competition they are also the best help you can get when it comes to setting your App up for success.
Step 3: Pick The Top Related Apps
Now that you have your search result, it’s time to look at the highly related Apps to the query we searched for. I consider an App being highly related if the App title of the App contains the exact searched keyword or it’s a very related keyword to the topic which we have searched for.
For example for the keyword above which was “How To Stop a Baby From Crying” I consider “Parenting Tips” to not be closely related as it’s about a much broader topic and doesn’t convert the solution which our App might be about.
As you can see in the search results above, one of the Apps is not closely related to my search term. But almost all the other 9 are about the exact same topic as my target keyword.
These Apps are going to give you a ton of super valuable information about what works in your market and how you can build your App in a way that grows fast for the targeted user base.
Next step’s all about harvesting this data and using it to build a bulletproof App that has the highest chance of growing big and get tons of users after you launch it Google Play or App Store.
Step 4: Study Your Competition and Extract Secret Data
Now that we know the top related Apps and potentially our direct competition, it’s time to dig in and learn as much as we can from them. This is the best part of market research!
You have access to already existing information about your target market which you can tap into provided by your competition!
It’s more valuable than gold as it can potentially save you a lot of time, give the exact success formula for the market you are going after and what works.
All you need to do is to study everything about these related Apps including:
– Their App Icon
– Reviews: Here’s the absolute gold, You can read what people are complaining about and what could be done better. Simply put, the exact things you need to pay attention to in your App!
– Number of Downloads: You can get an estimate on Google Play when you scroll down or simply multiply the number of reviews by 100 to get a more precise estimate for both Google Play and App store
There are many different ways in which you can do market research, you can use tools, different search engines, etc. But at the end of the day makes research is a way to understand the market and consumer behaviour so nothing’s gonna come close to studying the top Apps, what they are doing and how the users interact with them.
Step 5: Download and Use
After you study the top related Apps’ store listing, it’s time to download them and use them! This is a very vital part of the research as you can see how they have laid out their App, how the monetisation and engagement channels works, etc.
This is free insights and data you can collect on demand!
It’s like someone else’s already gone through the process you are going to go through and has published the data for you to use.
What you can learn from looking at your direct competition is priceless, the best part is that often times your competition ignores to study other Apps, so imagine how ahead of everyone you are going to be by doing this!
I would also keep some of my competitor's Apps (maybe top 3) on my phone for a month to see what notifications they send out, what value they add and how they nurture and engage their users.
Summary and Important Words
If you want to learn this process more in depth then I recommend reading my book Zero To App where I dive deep in the process of market research and how you can evaluate your idea’s potential and make sure that you are inviting in the right App.
As I said before, I consider market research the most important part of the process and what you will find throughout the process will serve you for a long time.
Among the clients which I’ve worked with almost all of those who have done a good job at market research get some sort of results (small and big). But those who have ignored this step often fail and get no substantial and consistent results.
That’s why the more you study the market the better your App will be and the higher return you will be generating. After all our job, as entrepreneurs and App owners are to find a need and satisfy it and market research is the best tool we have in hour toolbox that can give us the certainty that we are moving in the right direction.
I hope that this post gave you an insight into the right process of market research and helped you see the big picture a bit better.
After all, even the best Apps without the right targeting towards an existing demand will fail and that’s what we are trying to avoid here.
Most successful App owners study their market closely and build solutions for already existing problems which users face on daily basis.
The cool part is that they often don’t know about what problems are out there and they use a similar process to spot those problems.
I’ve personally published more than 100 Apps on Google Play and App Store via this process and I can say that this process is the biggest help I’ve had when it comes to generating consistent and reliable results.