AppClover guest post: The 5 proven phases of app marketing research, part 2: Market validation
It’s time for the second post in AppClover’s five-part series on app marketing research, written by AppClover co-founder and COO Matthew Lutz.
The second phase of market research before you develop or update your app is market validation. In case you missed it, you can read the first post on idea exploration here.
Phase 2: Market Validation
The next market research tool to consider is the Top Charts. From the Charts in the app stores themselves, to external resources like TopAppCharts.com, AppFigures.com and a handful of others, there’s no shortage of resources for you to go and gather some great market insights.
So, what should you be looking for? That’s simple: your competitors’ ranking in the charts. Are they up in the Top 10, the Top 25, or somewhere in the Top 50? Or, are they lost in the big abyss? Your competitors’ performance in the charts is an important consideration when performing market research and gauging whether your app idea will be a success or not.
For argument’s sake, let’s say that you found an app, in a similar vein to your new app idea, which is ranking in the Top 25 in your category, and it isn’t from one of the big studios or developers. Well, tip of the cap to you, because you’re one step closer to validating your app idea.
At the end of the day, however, creating an app is a business. And as with any successful business, revenue-generation will play a key roll. So the next questions that are begging to be asked (and answered) about your new app idea are, “Will it make money? And if so, how much?”
There’s only one way to find out: it’s time for more market research. Next Tuesday’s post will cover revenue projection, so make sure you check in with us again for that.
Have you tried out market validation using the Top Charts?