Being in the same business and working to attract the same customers will ultimately lead to competition, and chances are that your app is entering a market with a superior competitor that is already offering a good solution to the same target market.
The fact that your app may or may not be as successful as your competitor’s app still creates numerous opportunities to learn. Instead of ignoring your competitor’s app growth, it is important to absorb as much information as you can from what they have developed. Here are a few things you can learn from your app’s competitors.
Competitor’s App Insights: Amazing Things What You Can Learn from Your App Competitors.
There’s a great deal you can learn from your competitor’s failures and successes. You can learn a lot about specific product by x-raying other user reviews, that’d give you a good sense of what features people like, and what they don’t like about your competitor’s app.
App development is no easy feat and you may realize that the features you thought users would mostly use, might not be as popular as you thought they would be. Take note of the features people like and add it to your product to make sure your users get the best user experience, which is crucial to ranking highly in app store searches.
Also, don’t forget to check out the negative reviews. Apply your learning to develop your app without falling victim to the same pitfalls. If users are unhappy with a feature or want a better feature, make use of such information to build a better app and set yourself apart.
Your competitor’s release notes are also a valuable and nurturing source of information. Check out the most recent developments and have a glimpse of the features on which your competitors are focusing.
According to research findings, well over 80% of customers trust recommendations they receive from family, friends and colleagues about products and services than those they receive from the brand itself.
This highlights the impact of the credibility of one’s first source of information in determining their choice of a product or service. It also explains why social proof is a critical tool for product promotion.
One of the best ways to get customers talking about your app is to observe your competitor’s app and offer added features, discounts, regular improvements and giveaways. Look at the features your competitors offer and be sure to add a few added extras to your own app.
Pay attention to strategies employed by your competitor to engage their users and come up with your own unique offer. Research has shown that when two apps are similar, users will select the one that provides better engagement. Things such as sign-up bonuses or referral programs, for example, will attract more users to your app and ensure they will choose you over your competitor, thus building customer loyalty.
An in-depth analysis of your competitor’s app, as well as the keywords they’re using, can be a great place to inform your overall strategy. You can use knowledge gained to come up with your app’s strategy and decide whether you want to differentiate yourself from your competitor or go head-to-head with them.
A competitive spirit gives you the drive to work faster towards feedback gathering, customer acquisition and product iteration. This will help you develop your brand identity and define your unique target audience.
Competition Makes You Better
Analyzing your competitors’ marketing strategy can go a long way in helping you to realign your best efforts and better understand how to act. Beating your competitors is always easier when you understand their strengths and weaknesses. Discover their target audience’s needs and ways they choose to engage them will help you stay ahead of the crowd.
Looking at your app’s competitors as well as other similar applications’ prices can give you an idea of pricing your app appropriately. By analyzing your competitors’ monetizing models, you can understand what price for a similar product is acceptable in deciding how much to charge for your own application. If your competitor’s price is higher than market averages, you need to establish what additional features make clients pay more.
A solid marketing plan should include a detailed analysis of your competitor’s services and the way they promote them. Feeding on information by tracking their activities in numerous ways give the opportunity to analyze your own strategies and improve them for the future. Audit your app’s competitors thoroughly and find useful facts about how to best develop your app.
Rilind Elezaj is a thought leader in digital marketing, with extensive experience in the field of SEO and SMM. He has supported the growth of numerous major organizations in the U.S. and Europe through bespoke marketing solutions.