5 Ways to Combat Competition in the Mobile App Industry The application industry is one of the fastest and trending businesses in the world today; it is making the universe smarter but for those venturing into it; it is a fiercely competitive field
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One of the easiest things for engineers is to develop mobile applications and the most important thing for entrepreneurs nowadays is to have a mobile application alongside websites of their businesses. The mobile application industry is a booming market today with more than 75 per cent of the population being a mobile phone user, 67 per cent of which uses smartphones.
Moreover, the growing and demanding lifestyle of the millennials who want everything instantly from noodles to humans, having apps that provide solutions for every predicament of a human on this planet, the drastic rise of the industry is not at all surprising.
No matter how big and flourishing the market may be, it is definitely competitive and relentless. Entering into the application industry maybe not such a big deal but surviving in it is one big concern of entrepreneurs. Here are a few ways to combat competition in the industry.
According to Statistica, an average of 6,140 mobile apps were released through the Google Play Store every day from the third quarter of 2016 to the first quarter of 2018. So then how can you ensure that your creation stands out? Rahul Bahukhandi, CEO and Co-founder, of LaYuva, says, "To combat competition in the app industry, apps have to identify the right keywords while promoting the app so that the app comes as the top search result. SEO, Product quality and UI/UX of the app all plays a part in making an app popular."
Unique Value Proposition
Anupam Sengupta, Marketing and Revenue head of Sqrrl, feels having clarity about what your customer's pain points and how will you be solving (or reducing) them, is something that can distinguish you from your competitors. He added, "Above everything else, what can be really helpful is having a Unique Value Proposition."
When asked about combating competition in the dating app industry, Melissa Hobley, CMO of the dating app, OkCupid, says, "We are proud of our machine-learning based algorithms that go beyond the limitations of the real world or superficial commonalities to increase the probable occurrence of serendipity." She further adds that these algorithms have been built over the last several years and continue to evolve and improve every day towards our mission of helping people match based on what truly matters to them.
Privacy of the User
Ishaan Sethi, Co-founder and CEO of Delta App shares that for millennials giving them the security especially on a dating app, can help win the trust of users, "Dating on an app shouldn't feel tiresome or like you're going to get screwed over in terms of security or privacy." He also added that following user needs, keeping their security paramount and engaging with the community in meaningful ways enables apps to have a significantly better shot of growing than others.
Expand Operating Base
Amit Munjal, Founder and CEO of Doctor Insta believes that mobile phones have evolved from just being conventional phones to making everything accessible on the palm of your hand with just one click or swipe. "Mobile apps like telemedicine, travel, shopping etc are expanding their operating system base to grab a larger market share as the majority of the customers are online." These apps inbuilt with latest updates give the consumer the power to bring comfort to them.