Have you ever seen in movies, where the hero becomes rich in a matter of minutes? Well, it’s becoming true these days. Appreneurs – or Entrepreneurs who use the power of App Store and Google play are building overnight empires these days.
When you have stumbled upon an idea, which you think is the money making genie, all you need to do is to do some due diligence and validate the idea. So lets discuss some possible ways to validate your idea, before you leap into developing mode.
Developing an app is financially taxing, and is a big gamble. Like I already said, it can take to the top overnight, or you may end up, lesser than what you had earlier. So testing the worth of the app is very important. So the question is with whom you would test.
Our first destination will be Google. Apps are created for one simple reason, to make things simpler, which otherwise is complicated. So go to Google, and try to find out, what others do tackle this complicated work. Search with exact keywords, about the problem you try to solve with your app. Check for number of searches on these keywords. This would tell you how others tackle this and the number of people, who actually encounter this problem, or in other words our potential customers. This would give the actual demand for your idea. Remember the Demand –Supply relationship?
Micro-Testing:Another possible way of testing the business capacity of your app is Micro –Testing. Micro-testing is one such possible way we can test the future of the app. And the best part is you can test with lesser than a tenth of the budget. It is done in three simple steps:
1.Create a landing page
2.Run an Ad Campaign
3.Track the results.
First build an attractive landing page for the app. Highlight the objective, list down all the USPs, and mention how the app tackles the problem. Most importantly, create a big, eye-catching DOWNLOAD button. And you can also ask for email address for further updates. Platforms like Launchrock or KickoffLabs can be used to create your landing page.
Run an advertisement campaign, spending a trifle. You can utilize free social media as well. Track for the number clicks on the DOWNLOAD button and the number of email addresses you have got, over a period of time. Lets assume that 40% of the enquiries would result in sales. Now check if you have enough enquires for breaking even with the amount and time you have spent on landing page and advertisement. This will give you a clear status of whether your idea has the wings to fly far.
Try with different formats of landing pages and again track the results. Roughly speaking 20 – 30 clicks and 50 – 60 emails ids, over a period of 2to 3 days, is a satisfactory feedback.