Minimum Viable Product (MVP) Guide to Product Launch Strategy

Minimum Viable Product (MVP) Guide to Product Launch Strategy

When it comes to the life of an entrepreneur or startup founder their life is pretty glamorous – everything is up to you as you are your own boss, you start from scratch and create something from nothing, you get to realize your dreams, and you often have a bunch of disposable income that allows you to facilitate your startup with machines in your office for your employees. Minimum Viable Product (MVP) is your basic idea that is wrapped up in the number of beneficial features.

While some of the entrepreneurs succeed the same does not go with all others. The chances of succeeding in a startup game are not as great as some lead us to believe. There are a large number of reports which analyzed and poured the success rate, and most cite percentages that range from 50% to a worrying 10%.

Although the failure rate is high as compared to the success rate still we can attempt to increase the rate of success by figuring out various ways and strategies.

Creating a Minimum Viable Product (MVP) is one of the most efficient, valuable, and time-saving ways of tasting the sweet, collective tangible feed from a wide range of users and validating the idea will add to the count of increasing the success rate.

{.. An Entrepreneur’s Approach to the pre-Launch period is a thin line between his failure & success…}

MVP in the Nutshell

It does not matter how great your idea is, it must find its embodiment sooner or later. At this stage, you should remember that even great entrepreneur started with a scratch. They had nothing except the idea they believed, it was their high thought that craved the road to success. Starting with a small footstep will make you reach your destination miles apart. We recommend you gather your first steps in an MVP (Minimum Viable Product).

As it is important for the startup strategy it allows learning more about the product with less effort.

Some of the main parts to be included in your MVP plan are:

{…Minimum Effort, Maximum Learning…}

You need to identify the target audience for your business:

The success of the business depends on the customers. You need to understand your customers as it is one of the basic principles for your business growth.

You need to have the answer to these questions as:

Which age group do they fall into This info will help you to shape your content, design, and user experience in order to suit them.

Which social media and website do they use: This information will help you at the time of launching of your application and gain feedback.  You will have a clear idea of their insight behavior. Let me highlight the great example of how this information is so effective. Are you aware of the Dropbox story? Before the launching of the Dropbox product, the founder, Drew Houston, released a 30-second video on Hacker News, which contained a large amount of his target audience. As a result, he captured over 70,000 email addresses of highly interested future customers for them to be launched the product. This clearly indicated the insight knowledge is beneficial to any business to a great extent.

You need to analyze the market:

After identifying the target audience, you need to analyze the market to spot out new business opportunities and identify the business risk. The areas to be analyzed are:

Size of the market: – You need to know whether or not the market is flooded with apps like yours? If so you need to rethink and replant your strategy and you need to figure out nice alternative and the undeveloped areas for a great outcome for your business.

Rivals or Competitors: You need to know the rivals better and a clear idea of your product will help you figure out their marketing strategy and their mistakes so that you can build up a better business plan and improvise the actual growth of your business plan.

You need to validate your riskiest assumption

The riskiest assumption is usually your unique selling proposition which is validated with the help of a minimum viable product before investing everything in a business model that is rotating around it.

You need to select the right feature:

The features you select for your MVP will require to be the ones that are closely related to your MVP’s main goals – to test assumptions, validating ideas, user feedback, and your application’s potential.

You need to find the right technology partner

In order to successfully take your MVP from the planning stage to creation, to post-launch development through to application support, you will need to contact a full-service team that will act as a Technology Partner and adds will work with you boosting your business process.

Tips to be noted: If the chances of success for your startup are against you, then to an effective plan, your MVP and making the right decisions based on detailed research and fact will ultimately buy you winner’s seat on the table of the competitive market and will add to the long-term business success.

Why You Need to Rethink on Your Strategy?

Why You Need to Rethink on Your Strategy?

Strategic planning has been under assault for years. But a good strategy is more important than ever.  As an entrepreneur, you need to rethink strategy to enhance the growth of your business. It’s an era of evolution and things are changing at a heavy speed. To compete in this current market, you need to stand out and do something extraordinarily to have the desired growth graph of your business.

A decade back, people use to spend their weekend going to shopping malls, grocery shops, bringing household essentials, standing in a queue for movie tickets and many more. If you compare this with the current trends things have rather changed. Companies have started focusing much on mobile apps. Mobile apps have occupied a huge section of the market.  

A well thought business Strategy has now become more important than ever

Mobile app design and development has certainly reached its peak. It has become a problem solver, where it is able to resolve the number of business-related issues. Nowadays, mobile apps act as a platform for your business and help in expanding the business reach to global avenues, because of this reason, entrepreneur needs to think and focus on their mobile app.  

So, you need to think of your strategy, plan your things for a smooth flow of your business in future. There are many other strategies related to blockchain development, customer acquisition and many more. Companies need to focus on these areas to get the expected outcome of their business.

There are various benefits of having a mobile app. A report states that about four billion people are using mobile and over 600 million add to this list every year in the world. Over the end of this year, 60% of the world population will be using the mobile phone. People are moving towards the easy go for their life accessing all their need in a single tap.

Entrepreneurs need to rethink over their mobile app strategy which is a must have for any business to boost its growth.

{“Need to get customers interaction for your mobile app? Then you need to invest in the overall mobile strategy.“}

To effectively engage customers via mobile devices, these 3 steps you should never miss out:

    • You have to outline an entire commitment procedure and collaborate with your business partners to plan a total versatile client commitment methodology, which may cover utilizes running from portable showcasing to charging and client benefit.
    • You have to watch clients, contenders, and different industries. Begin with a nutty gritty investigation of what’s viewed as best-in-class versatile client involvement in your topography and industry. Additionally, realize what adjoining enterprises consider to be cutting edge and tweak your strategy.
  • You need to include in-app analytics to measure user engagement across social media channels, mobile websites and applications.

Apart from having a must-have mobile application, there are some other strategies too which needs a rethinking such as marketing strategies, content strategy, acquisition strategy and product strategy.

Blockchain development can be other lead you need to rethink for your business growth. In the words of Don Tapscott provides a nice concise description “The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” It is transparent and cannot be corrupted.

There are a wide variety of applications possible on the Blockchain, which ranges from shopping, voting or renting out your house/boat/car/office to reputation systems. The blockchain continues developing, so you would require a huge measure of processing capacity to accomplish that, which is greatly costly. So, it is essentially not justified, despite any potential benefits to change any information. Therefore, it is about difficult to change information that has been recorded on the Blockchain. It can be best suited for your business growth.

In this competitive market, you need to be aware of the lasts methodologies and technologies to survive and flourish in this competitive market. Apart from that, you need to rethink your marketing and content strategies to promote your business to get maximum user interaction.

As the selection of internet-based life, versatile processing, and newly advanced practices keeps on extending, organizations today are looked at with the test of re-evaluating a large number of their fundamental key ideal models. Nowadays, there is a business shifting from the paradigm of individual customers to one of the customer networks.  Marketing strategy and model need to be updated in other to pace up with the market change.

Businesses are facing a shift from a paradigm of individual customers to one of customer networks.
-David Rogers

Earlier it was days when advertising through a TV adds was enough for the promotion now things have changed. For promoting a brand, you need to promote on the various social media platform. The diversity of the social media has transformed into a huge never-ending tunnel. You need to hire digital marketing experts for your business growth. You need to build up loyalty for your brand in the customers’ mind. Customer advocacy is the most important aspect of marketing. A satisfied customer will spread awareness of your brand and a positive online review from customers engage a lot of customers and have a positive impact on the marketing of your business. Hence these marketing strategies need to be rethought and planned for future business growth.

No matter, what role other plays in the online market but Content remains the king. You need to have a glimpse on your strategies related to content for your brand promotion. You need to plan, produce, promote with a perfect strategy. A short descriptive video release before the launching of your brand will count a lot just as the case which happened with Dropbox. About 2 million views before launching which means dropbox had data of 2 million interested customers before launching just by few sec videos. This itself is a live example stating the power of content.

There has been a great change in the world as compared to the previous decade and this change has paced up in the last few years. An entrepreneur needs to rethink their strategies about their business to make the graph of the business growth rising upwards. This blog prioritizes the importance of the changes which is taking place in the current era and what things one must be aware in order to rise up high and fly in the could of success in their business. You can hire a well-trained specialist in any field you require ranging from strategy planning to app development and marketing. These professionals will add wings of success to your business within no time. So, rise up match the pace of this fast-moving world and give your dream a new path to success matching the requirement of the era.

What is the GDPR? And what does it mean for the Marketing Industry?

What is the GDPR? And what does it mean for the Marketing Industry?

General Data Protection Regulation (GDPR) is an entirely new set of standards and criteria basically designed to strongly strengthen the control of individuals that they have over their informational and personal data.

With effect from May 2018, GDPR will be legalized for all the brands and companies. They all will be required to adhere with the rules and regulations. And if they will not comply with the rules, they have to face a heavy fine of up to €20 million and this could result into even 4% of the organization’s global annual income, whichever is larger.

How GDPR will Impact Marketing Industry?

In marketing and advertising industry, Data is everything. As it gives complete insight of the consumer like who they are, what they want, and what they are looking from the company.
In the industry where “Data is the Key of Marketing, you need to consider a few points:

  1. The core basics

As per the European Parliament, GDPR ensures protection of personal data for all the groups and individuals that too within the European Union (EU). And that includes the successful export of personal data that too outside the EU.

  1. A quick summary

From now onwards, following the old traditional method is not sufficient. Previously personal data could be processed by selecting – pre-ticked boxes, which in turn, results an assumption that consent is given by default.

But from now organizations are required to be specific and answerable about what they will do with the data.

  1. The possibility of ’slowing- down’

Today information is everywhere. And rightly directing and capturing the data enables brands and businesses in building brands and successfully driving development and sales.

According to the recent study performed by DataMeer customer analytics has used 48% of Big Data for successfully implementing sales and marketing. And that plays a crucial role in the prediction of client’s behavior. Nowadays marketers and strategists are strategically targeting individuals by knowing their key information like browsing history, salary and internet browsing habits and loyalty data. And these campaigns allow marketers and branding experts in getting beyond the campaign execution and rightly focus on the customer relationship management (CRM).

But with GDPR there are chances that a decrease in access to the customer’s data may occur, which may result into restricting the ability to target individuals, which they does on the basis of personal data collected.

  1. Possibilities of survival

Undoubtedly, GDPR is going to strongly shake up the digital marketing space. So it’s important for brands and businesses to ensure they are willing to rightly implement the changes required to comply.

With the heavy possibility of a slowing-down in the progression of marketing ensure your brand and business is ready to adapt and shift in order to properly manage and handle this. So don’t just move ahead and accept it, do what you can do in order to successfully drive business development and sales. Just plan and move ahead.

  1. Never panic

Since its launch, there have been a lot of ambiguous and scaring assumptions around the GDPR topic that everyone is worried of. Many marketers and brand strategists are exaggerating the scenario. Even GDPR has come up with some of the biggest adjustments in data protection laws, especially since The Data Protection Act 1998.

So with all the exceptional things that consumer data can offer to help every marketing and advertising industry, hackers are also looking for the enormous opportunities with the wicked motives to get their hands off on the confidential and crucial information.

Tips for imbibing analytics in your online marketing strategy

Online marketing is one of the most challenging parts. As evolving technology when gets combined with the changing expectations can result into making the market more difficult. Today even the most experienced marketers find it more difficult to deliver the right results. And, that’s why analytics is luring online marketers because it shows tremendous opportunities to them. It offers an incredible amount of information which when used appropriately, can help gain tremendous value and insights. Being an experienced and well-versed website development company, we have enlisted Top 5 Tips on how to use Analytics in Online Marketing strategy.

Review a lot of Data – The worst part about most of the analytic suites is that they provide you a huge amount of data to use. And, that’s why most of the time marketers have more data than they need. One of the common mistakes that they does is – they just grab the small bits and pieces of data accumulated from analytics, which tends to be short-sighted. However, it requires much time and energy to focus on the data as it helps in obtaining a complete picture and ensuring that marketers understand how target metrics can be well fitted into the entire picture. Moreover, this looks a bit confusing initially, which is why many marketers tend to only focus on small sections of analytics, but if we talk in the longer run, it helps marketers in making much sound and better data driven decisions.

Don’t just make assumptions – By using analytics many times you can find multiple trends and assume that one trend has caused or influenced the other. But that’s not the case always and it’s important for marketers to look at the various crucial metrics that includes important data points so that the actual cause can be confirmed rather than making a possibly incorrect assumptions.

Have right perspectives – While considering the data, marketers are required to do it without having any expectations and assumptions. As most of the marketers fall into a trap of using the existing data and making it fit into their expectations in a way that ends up in having wrong decisions.

Ask the Right and Appropriate Questions
– One of the scientific ways that works well in marketing while using analytical data – just ask a question to define the challenge or issue, do proper research, perform a hypothesis and then rigorously test that hypothesis. Being a well-versed marketer, the most required thing is to figure out the right challenge. The more focused question you’ll ask, the easier it will be to find a specific answer. On the other hand, the more general questions can result into more ambiguous answers. And, then as discussed, just follow the right analytical data to find the possibilities and determining the right method to correct the action, which is to be followed by testing.

Rigorously test before making any changes – One of the most underused tips is – rigorously test before making any changes. Analytics has a lot to offer and sometimes it has proved so efficient that it has helped marketers in making right evaluations and conclusions. And, if you are making changes to your campaign or strategy without properly testing them then result can proved to be worse than before. By properly testing the things out, you can confirm or deny the hypothesis and possibly gather a new array of insights. Rigorous testing helps in gaining more confidently and making changes to the current strategy with a much more assured outcome.

So, the bottom line is that right analytics has the capability to offer a wealth of information for web designers, developers, publishers and online marketers. Hope the above mentioned 5 tips for using analytics in online marketing will help you in ensuring that you are making the most of that opportunity and getting ahead of your competitors.

How to harness your Mobile App Marketing Strategy to Make More Money?

How to harness your Mobile App Marketing Strategy to Make More Money?

Why do businesses need a mobile app? Reasons can be multifold – nurturing loyalty, flourishing brand awareness, gain new and potential mobile audiences, and get a competitive benefit, among many others. Mobile apps have now become a robust and effective marketing channel for brands and after doing everything for a successful launch of an app, we also expect it to be a commendable source of revenue. Identifying which Business Model is right for your app is one of the key factors, you need to consider while making a mobile app marketing strategy for your brand.

Many businesses enter the mobile arena because they too want to be a part of billion-dollar success of app business like WhatsApp, SnapChat, Vine, Instagram and Angry Birds. But developing a kink-free, user-centric and engrossing app is one thing and marketing it, in the huge ocean of app store, is another. With over 1.2 million apps in Apple’s App Store and almost the same number in Google’s Play, making your app a big hit is not easy. According to recent stats – 2% of app developers claim about 54% of all app revenues. So, how can you join that tempting 2%? – Yes, through a well-developed and a well-marketed app. And, for that, you need to chart out a well-thought and a properly analyzed pre-launch and post-launch marketing plan in order to gain profit from your app. Remember that both app monetization strategies i.e. Pre-Launch Mobile App Marketing strategies and post-launch Mobile app marketing strategies should be created before you launch your app in the app store. However, as time passes, these strategies can be evolved or even changed completely, depending on the requirement. Identifying which Business Model is right for your app is one of the key factors, you need to consider while making a marketing strategy for your app. Here are a few points that need to be considered :

1.    Identify the problem your app is trying to solve and how?

2.    Find out the uniqueness in your app and do people pay for that?

3.    Analyze business models that competing apps use and evaluate how well have they worked on those models

4.    Figure out the ways to maintain a balance between your need to gain users with your need to earn revenue.

Monetization models offer your app business a great potential by increasing your revenue stream. By selecting a right app monetization model you can increase your chances of making your app successful. However, it’s not important that these models can’t be mutually exclusive; you can definitely mingle them or use more than one as per the requirements. Here are a few tips to help you choose the right monetization platform for your app :

Know the Options

Know the Options

Before figuring out the best business model for your app, you need to know what options your apps have. Remember that the amount of traffic you get on your app depends on the business model selected from the ones available for you. Every business model available can enable you to monetize your traffic, your content, your app and many other factors. Other factors depend on what type of app you have built and what goals do you have for our app.

Set Your Goals:

Set Your Goals

Set Your Goals

Monetization strategies can help you do more than just increase revenue. In order to choose the right business model for your app, you need to define your overall goals. As it helps in figuring out which metrics to measure and how to improve over time. Hence, it is always recommended to define your goals for a successful implementation of your app marketing strategy.

Brand Your App, Not yourself

Brand Your App, Not yourself

Brand Your App, Not yourself

Your app is what your audiences think about, not you. Your target audiences want your app to help them in facilitating their needs effortlessly. So, your app should always reflect your audiences’ shared values, not yours, because it’s they who make your app successful. So, always know your audiences and find out the specifics of your target audience like demographics, age group, gender etc.

Consider App Reviews

Consider App Reviews

Consider App Reviews

User reviews are one of the most important factors in finding out the problems or glitches in your app. Reading reviews of your competitor apps is also recommended as it helps in finding out the factors that need to be enhanced or added in your app that too before launch.

Before you choose the best marketing strategy of your app, explore all the possible options and then define your goals and your audiences. With the right choices, you can create an effective marketing strategy for your app because the right monetization strategy has the capability to help you grow your app business by increasing engagement, ROI and lifetime value.