The inception of any mobile application, however innovative the idea is, has a massive chance that you are not the first one to think about it. There are many out there who have already developed the exact same application that fulfils your needs. There is no surprise element in this, right? With a number of mobile app development frameworks, upcoming technologies and expert designers and developers, millions of applications exist in the PlayStore and Appstore.
The question is how can you steer away from the monotony and add advantages to your mobile application? Competitive Analysis, yes, the answer is simple. You just need to perform a competitive analysis of the existing market of your niche and add unique features to your application.
What is Competitive Analysis of Mobile App Development?
POS analytics is a term for techies, which simply means determining and assessing the competitors, their strengths and weaknesses that correspond to your application features.
When exactly do you need Competitive Analysis?
Competitive analysis is not just a one time process, you need to conduct it in the various stages of mobile application development to get effective results.
- Competitive analysis at the time of conception of the application idea
- Regular competitive analysis on the design or drawing board to ensure that everything is updated according to the latest technologies
- Whenever any change or update is to be made in the current application then a thorough competitive analysis is necessary to define the impact that your changes might have on the market
How can you conduct a Competitive Analysis?
The real question now is how are we going to conduct a competitive analysis for mobile application and the solution to this is a set of steps to follow. Namely,
- Discovery your competitors
- Study their web presence
- Build a competitive matrix
- Access the competitor’s digital strategy
- Analyze competitor’s ratings, ranking and reviews on PlayStore and Appstore
- Conduct need analysis
- Analyze the App industry
- Figure out your Unique Value Proposition
In order to understand each of the steps of the competitive analysis, just go through the Guide: How to Conduct Competitive Analysis for your Mobile App Development?
How to improve your mobile app development with detailed Competitive analysis?
Know that we are aware of all the aspects of competitor analysis, there’s a big question that still needs to be answered, and that is how your mobile app development process can be improved with competitive analysis. So, here are a few things that will lead you to understand the need for competitive analysis,
- Generation of ideas
The best outcome of a competitive analysis is that you can boost your mobile application with new ideas and features that you might witness in your competitor’s app. The simple logic is, if it is working for your competitor then it is definitely going to work for you as well.
So, when you carry out the initial competitive analysis, at the time of inception of the mobile app development process, you need to thoroughly understand the features offered by your competitors and which ones are working best for them.
Then, match those with your mobile app requirements and who knows you might get novel ideas to incorporate into your mobile application.
- Gives you insights on how to stand out in the market
When you carry out competitive analysis and compare your idea or mobile application development with competitors, it can give you an idea about where you will stand in the market and how you can improve your features or ideas to stand out among the others.
Among the various aspects affecting your mobile application and brand that you are going to represent, USP is something that can be defined by competitor analysis. When you compare your application with others, you can check which are the features or functionality that you can incorporate and showcase as your unique point.
- You can get a multi-dimensional view of your application
When you are developing an application, you can only view it as a developer or designer, but after the competitive analysis is carried out, you can have a view of the user persona, how competitors view their application and thus the designing stage can be improved by a manifold with a multi-dimensional view.
Moreover, with a comprehensive competitive analysis, you have a chance to compare and contrast the features and design of your application in the eyes of different competitors and users.
- Gives you an accurate picture of your requirements
As a coin has two sides, similarly by competitive analysis, along with ideas you can also see and learn from the failures. The features or functionalities offered by competitors that are not doing really well in the market can act as an alarm for you, thus you can get a perfect picture of the requirements and features that you should incorporate in your application.
This phase of competitive analysis can turn out to be your chance to become the best of the worst and make your mobile application stand out of the regular ones.
- Explore more of the industry
By carrying out competitive analysis thoroughly in different phases of mobile application development, you can add features and offerings at each stage depending on the competitors’ application. You can start offering new features or enter into new categories of the market by expanding the horizon of your mobile application.
Competitive analysis will allow the mobile application development process to witness ease in the incorporation of features depending upon the analysis of competitor’s application.
Competitive analysis is one of the most effective ways to improve your mobile application development but only if it is carried out with accurate steps and precision. The reports of each and every phase need to be analyzed to get insights about the features to be added or updated in the technology that needs to be incorporated. This does not mean directly cloning your competitor’s apps but enhancing your application with your features and market trends. So, gear up and get all the details of competitive analysis or get expert mobile application development service to your rescue.