There is no doubt that more people than ever are engrossed in apps. Mobile apps can be very profitable however, ensuring their success requires a thorough research and understanding of the niche. It is very risky to simply dab a mobile app idea as the cost of development and maintenance is rising every year. And this is why a mobile app idea needs to be validated before investment and other resources are poured into it. In this article we are going to explore the length and breadth of App validation and why it is important before diving into app development.
So what exactly is App Idea Validation and why is it needed?
App Validation is an exhaustive analysis that tries to predict the success of an app idea from an unbiased point of view. As humans, we are inclined to believe that our own ideas will be profitable in the real-world scenario. It requires an unbiased approach from a different perspective that can validate the app idea for its success or failure. And this is why the validation process is imperative.
Skipping the validation process does not lead to an unprofitable app always, however, it does provide a near-accurate forecast of the success of the app from a business point of view. It is imperative to know the probability before diving straight into the mobile app development.
Three steps for Validate App Idea
The idea needs to be judged on three merits such as size of the audience, the relevance of the problem that it intends to solve, and the cost of service.
1. Size and type of the audience
The App may provide a convenient solution for people, but its viability depends on the size of the audience. More numbers usually indicate a larger number of prospects and therefore, a chance to extract ARPU (Average Revenue per User) from them.
Apart from the size, the quality of the target demographic matters significantly. Users from western developed countries have the ability to spend more than their eastern counterparts. And this is why in-app advertisements pay more money to owners if a large portion of the traffic is from the western countries like the US, Switzerland, England, Canada etc.
2. Relevance of the problem and its solution
Is there a Unique Selling Proposition about your app? It may be difficult to find an untapped market but it is an uphill task to capture a market from an established app that is already serving a convenient solution to a problem faced by a large number of users. A strong USP articulates a strong benefit to the targeted audiences. If competitors are unable to provide an equally convenient solution as your app idea, it might be a big success.
3. Cost of the solution
The mathematics is clear on it. The more the solution costs, the more profitable the app will be. Lesser cost will allow for inclusion of more users as compared to higher costs.
The Internet has allowed people to vent their opinions with anonymity. And this is why many people are turning to the Internet to search for solutions. Tools like Google Keyword planner, and Semrush give significant insights into the size of the audiences interested in a particular niche. The no. of search volumes is a powerful metric that can depict the size of the audience.
There are tools like Google Keyword planner, Ubersuggest, and Semrush that provide near-accurate search volume for particular keywords.
Launching an MVP for getting your app idea validated
MVP is a low-cost version of your fully-functional and featured-rich app. The aim of MVP is to test the waters and decide to work further onto the app idea. Minimum Viable Product also allows for more time duration to incorporate the features and functionalities that resonate with the requirement of the audiences. A successful MVP is like a third party validation which predicts the success of the app idea on a larger scale.
Pros and cons of validating the app Idea with Investors
Investors provide a straight-forward opinions; however, a detailed sales pitch and lots of statistics are needed in order to convince them to invest in your idea. But the risk often comes up in opening your idea to the opportunists.
Validation has been crucial for preventing thousands of dollars, hard work and months of app development that will not gain any results. It may cost a few thousand dollars but gives great insights about the scale of the problem your app is intending to solve, confirmation bias and core audience.