Mobile app development can sometimes be risky, not the development part itself, but the part of whether it will be successful or not. Therefore, a way to increase the app’s chances of success is to conduct proper market research before moving on to the development part.
In this article, we will discuss why it is important to carry out a market study to avoid our app having a rough reception. Let us see:
- What is market research?
- How to do market research?
- What is the best way to optimize your market research?
- How to optimize work methodologies?
- How to leverage your research partners, improve communication and visual elements?
- Why is it important to set goals within the target audience and analyze the competition?
- What other mobile app tips can we offer you at Connect Tech?
1. What is market research?
Market research refers to a process used to solve problems between the company and its markets, through the search for and analysis of information. When we refer to research as a process, what we mean is that a series of steps must be followed systematically to intellect information, analyze it, and make decisions about how we are going to act.
Market research consists of instruments and techniques that, when applied, generate information with a high degree of validity about the behaviors of a market. To generate information, a process takes place in which information acquisition, recording, processing, ng, and analysis are carried out.
For this reason, companies should continuously carry out market research processes, since this allows them to know how to respond to changes in tastes, preferences, and market behavior in general. All information collected can be used to better direct the development of an app.
1.1 What type of market research is the most convenient?
Academic research focuses on obtaining information on topics of transcendental interest for the whole of society related to the subject of marketing. Therefore, this implies that it is not limited to the problems that a single company may have. In other words, it analyzes problems of general interest and seeks to find long-term solutions.
Therefore, this research was conducted by specialized research organizations or universities. The topics researched generally help to better understand consumer and market behavior universally. It is best for a mobile app that meets a specific need.
Professional research, on the other hand, usually involves a company’s marketing research department or a market research company. Above all, it focuses on solving specific problems of a given company. Usually, these problems require a short-term solution, which means that it calls it practical research.
Undoubtedly, this information is only of interest to the company conducting the market research. For this reason, the data obtained is jealously guarded and never shared with other companies, as this would mean giving weapons to the competition since they would know our strengths and weaknesses.
2. How to do market research?
The problem statement represents one of the fundamental steps to carry carrying out good market research because if it is not clearly defined what we want to solve or investigate, the research can become a total failure. For example, if the market share of a product is decreasing, the problem can be defined by formulating a question: Why is mobile app X losing market share?
Exploratory research seeks to find answers with the data available in the company or from the people who work or have contact with the company. Then, following the problem definition question: Why is mobile app X losing market share? Some answers could be the high cost of the mobile app, loss of quality, lack of innovation.
Formulation of hypotheses. A hypothesis involves the tentative explanation of a problem, through the association of variables, one dependent and the other independent. The responses obtained in the initial investigation help to formulate the assumptions. Hypotheses are the basis on which the whole research topic must revolve because at the end of this process they must be proven or rejected.
Data collection. This step consists of searching for the necessary information to validate the hypotheses. First, we look for information that is already available to anyone. Therefore, if this information is not sufficient, we proceed to the search for primary data, starting by determining the number of people to be investigated.
2.1 How to proceed after we have our information?
Data selection. The selection of data excludes those that have been obtained incorrectly and those that appear incomplete. In addition, it includes those that have been misinterpreted due to the way the questions were worded.
Data entry. Once the data are selected, they enter them into the computer and descriptive statistics to process and organize them. You must take care of all stored information
This constitutes the crucial part of the research, because, with the data obtained and its analysis, decisions must take place to know how to act and look for the adequate solution to the problems.
3. What is the best way to optimize your market research?
Analyze your past market research. Be sure to consult research on similar topics or in similar consumer groups. Analyze as many elements as you can: What patterns are emerging, what trends can you observe? Comparing results across studies can provide you with valuable information.
Ask yourself if you are making the best use of secondary information. Consult with different trade associations, government agencies, and universities. Information collected by someone else for a different purpose can help us with our unknowns.
This is a good way to expand your research budget. Google is an excellent option, however, a librarian becomes your best friend and an endless source of knowledge. With this in mind, we will be able to streamline our market research for mobile app development.
Determine sample size. Samples that are larger than necessary can add unnecessary and avoidable costs. Keep your sample sizes moderate. You can look for an online panel or lists that work best for your research or you can even use other people’s internal lists when possible.
3.1 What is an omnibus survey and what is it used for?
The omnibus survey is a research method where several people share the cost of a research project and each one receives part of the information that is collected for them. The main characteristic of this type of survey is to address several topics, as the results are generally for different clients.
The omnibus survey generally uses a stratified sampling from which information needed for the studies is obtained. All this is thanks to the use of structured surveys which can be sent and answered via telephone or the internet. Omnibus surveys are flexible, fast, cost-effective and a proven tool that provides companies with information on topics, products, and trends.
If we talk about market research for mobile app development, this kind of survey helps us in several aspects. From tracking participants’ opinions on specific issues, trends, brand usage, testing advertising campaigns, or mediating public opinion on various topics.
4. How to optimize work methodologies?
Avoid getting distracted from the project. Clearly define your project objectives, meet with investors, and select research methodologies to achieve these specific objectives. It is easy for your market research to have no fixed objectives, especially when your colleagues are in charge of adding everything to the project while “still researching”.
Periodically review your mix of qualitative and quantitative research projects. Do you consider having the right mix of qualitative and quantitative market research? Many times, companies find themselves stuck in one or the other but it is important to remember to keep both views in balance: qualitative and quantitative.
It is of great importance to keep a bit of both research within a project but many times the time takes too long and the cost exceeds the available budget. However, there are now multiple new and effective tools that provide the benefits of both approaches, giving real-time and same-day results such as online surveys.
5. How to leverage your research partners, improve communication and visual elements?
Seek valuable feedback from your research partners. If you want a partner, then treat them that way, solicit their opinions and ideas to improve the efficiency of your research. What new ideas and recommendations can they give? Your research partners may be more valuable than you think.
Effectively communicate all information and ideas. Create a real or virtual “living room” containing all consumer information. It should be easy to access the results of your research. If you opt for a real room, make it visually stimulating and inspiring.
Change the décor frequently to highlight new learnings, hold as many meetings there as possible to keep the focus on market research. If it is a virtual room, make sure it is easy to access and that the entire organization knows about it.
Use visuals. Beyond charts and graphs, images can spark ideas in your colleagues. For one client, we created life-size cardboard personas that we placed throughout the office, each representing a consumer segment.
6. Why is it important to set goals within the target audience and analyze the competition?
Market studies come in handy for those starting a new business, but they also serve other purposes in specific phases of the company. You need to know what your goal is with this research. Ideally, keep your focus and make a list of specific questions you intend to answer with your research.
Work in the area. This is not a requirement to conduct a qualified market study, but it is an important step. If you know the area in which you intend to operate, it will be easier to get a sense of how things work internally. With your experience, you will know what are the main difficulties, challenges, and opportunities for success within that specific segment.
Competition is part of the market. Therefore, get to know them well, study them and check their strengths and weaknesses. You can learn a lot from it. Visit their stores, follow their websites and social media tools and pay, attention to how they interact with the consumer. Evaluating that is important to know how to position yourself within the market.
Identify and understand your target audience. When starting your business, the most important thing for your business is to agree that you will serve a specific type of customer. Thus, you can understand the marketing actions that will bring better results, what is the best language, and even how to approach relationship building with that customer.
7. What other mobile app tips can we offer you at Connect Tech?
As we have seen, market research can help a lot when deciding on certain features of our mobile application. This almost always depended on having a good business plan to help us guide our next steps as a company.
At Connect Tech we recommend creating a complete business plan that includes sales, advertising, revenue, profit, etc. The best thing to do in this case would consist of some emphasis on the advertising that we will give to our application.
Do you have an idea for a mobile application for your business? We have over 10 years of experience in developing custom digital solutions for a wide range of requirements. Contact us at +971 52 952 1175 or email us at CONTACT@CONNECTECH.DEV to find out more.