Whether you’re building an app company to change market dynamics or create casual games, you’ll want to consider the essential steps to build a dynamic, high-growth business. Yes, this requires energy, tenacity and vision; however, building an app company can also bring rewarding results in experience, superior market penetration and long-term growth. In the steps that follow, you’ll discover how to build an app company that offers all of the above.
Consider the Pros and Cons of the Concept
Starting an app company can be an exciting experience, but it also involves some risks. Risks can be managed and even eliminated when important considerations are weighed and placed into action. One of the first areas to consider is that of your concept. Ask yourself the following questions to narrow your perspective and drill into the core of your concept.
- Is the current market for apps in need of expansion in your conceptual vision?
- Will there be a sufficient market for the apps produced in the company to create profitability?
- How much funding will be required for the startup company?
- How will the apps introduced by the company offer unique or different experiences from those of competitors?
- Are there legal requirements to start an app company; if so, what process does that entail?
- Will hiring experienced app developers and designers be feasible upon startup?
These questions and more can be used to create the answers that will drive the company toward a successful start.
Get to the Core of the App Architecture.
To obtain a sustainable model for building and marketing apps, you’ll want to mentally expand the process of building an app. Your company may outsource some of the following; however, include everything in your model that may be needed to determine the process that will align with the finished app product to be launched. For example:
- Develop the app concept
- Conduct research to determine market viability
- Determine app platform: iOS, android or both
- Design: usable and functional UI/UX
- Initiate product development
- Test, test, and test the app
- Raise funding
- Create the marketing campaign
- Monetize the app
Again, depending on your concept, these steps may be abbreviated by outsourcing, including the app development overall. The process you develop should fully equip your app for market introduction.
Build the Company Framework.
In order to conceptualize, develop and market apps with a solid degree of success, the framework of the company needs to get the attention it deserves. This is the hard-working, long-haul part of a dynamic company; you’ll want to consider building it to the highest levels of performance. The first portion of the framework will be the app business plan, which will be the roadmap of the app company.
When completed, it will include the mission and objectives of the company, research into the app market, an assessment of competitors, the marketing strategies, and the financial projections of the company for at least one year. The roadmap will inform and guide most of the decisions made during the initial phase of the business and provide a red flag when needed.
The remaining framework within the app company will be found in administrative oversight and the processing of documents, procedures, and necessary protocols. There are numerous software programs designed to assist in each of these areas; select those that have been tested, tried and known to be most effective.
Run a Marketing Campaign
Much like a traditional marketing campaign, an app marketing campaign will focus on the product, price, place and promotion. However, unlike a traditional campaign, a robust app marketing campaign will also use all of the media channels for apps:
- Paid media: As it suggests, the app company pays for targeted advertising
- Earned media: Similar to a PR campaign, the app company pays for publicity
- Shared media: Built on the concept that users share the app
- Owned media: Leveraging the media owned by the app company
In addition, depending on the purpose of the app, in-app marketing messages may also be included. Paid user acquisition, cost per impression, and cost per action may also be employed.
Monetize the App
Create the advertising relationships that will build successful roads to return on investment in the app or related to the app. There are multiple pathways to garner revenue from an inviting app; you’ll want to cash in on all of them.
From start to finish, each app developed by your company will be unique and inviting in its own way. Built with a market-driven concept and sturdy architecture, each app will find its way into the app-user field of dreams successfully, all of which will generate success and long-term growth for your app company.