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99.9% of apps fail. Market research can help your digital product to success

“There’s an app for that!” is a common refrain these days. Not surprising when you consider that a staggering 7,574 apps are reportedly released every day across Android and iOS[1]. The sobering reality is that 99.9% of these apps will not become financially successful, according to Gartner.

For companies and entrepreneurs trying to strike gold in the hurly burly of the digital domain – whether with a new app, website or software tool – gaining data and evidence to inform its development and launch is more critical than ever.

Maybe your winning product is still just a concept in your head, or perhaps you have already built the prototype – whatever stage you’re at, market validation can be the key to unlocking success. The earlier in the process you conduct this research, the better!

Get answers to important questions about your digital product

Excitement about your new digital product will take you a long way, but at a certain point it’s important to step back and ask some questions about its viability, acceptability and desirability. These questions can be answered through market research. Acting on these answers could help you avoid investing time and money into an idea that customers won’t like or buy into.

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Find out what customers think, feel and (will hopefully) do in response to your product

At Research by Design, we combine qualitative and quantitative research approaches to gain insightful answers to these questions. These answers can help you understand how customers react to your product, whether they see it as valuable and will pay money for it, as well as compare it to other options:

- Research will help you understand how easily and quickly people grasp the product concept, as well as gauge their initial reactions to it. Going a step further, you can also explore the relative appeal of different options or features.

- Digging into value perceptions will provide insight into whether your digital product will solve important problems for customers, how they measure success, and how they evaluate its features and benefits. This means gaining an understanding of how it fits in a real-world context, how it might integrate into peoples’ lives, as well as any barriers to adopting it.

- As well as understanding reactions to and perceptions of your product within the competitive context, research can help to understand customers’ behavioural intention to purchase. While predicting future behaviour is notoriously hard, it is possible to gain an indication of the likelihood to purchase as well as how likely the app is to catch-on and spread.

- Exploring the competitive context in which your product will exist is critical to understanding how customers adopt existing solutions, how your product compares, and whether it is sufficiently unique.

- Another aspect of the research brief can be to understand how to most effectively target and position the product. This involves exploring its relevance to specific customer personas and segments, providing intelligence on the target market for your product. This will help guide your approach to marketing and advertising, including what language and messaging resonates with potential customers.

In the fast-moving digital world, it may feel like you simply don’t have time to beta test your app with potential users – however, engaging with market validation can actually save time by signposting the best pathway and helping you avoid lengthy detours.

Fine-tune the product based on data and evidence (not guesswork)

The data and insights from the research will take the guesswork out of how to develop, finetune and launch your digital product, informing key decisions such as those relating to positioning, pricing and marketing. By enabling a data-driven approach, research can help you:

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Get in touch with us for a chat about how Research by Design’s experienced team can help you take the guesswork out of digital product development and help set you on course to success. We can support via value proposition design interventions to help gather ideas and shape the proposition; online surveys to gain detailed feedback on a mock-up or prototype; and focus groups and depth interviews to dig deeper into attitudes, motivations and behaviours.

This entry was posted in Technology, tagged Technology, Market Research and posted on October 18, 2018


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