It is not easy to make it big in the world of app startup. First-time entrepreneurs have to deal with competition from corporate giants while developing an edge and then marketing it while on a super tight budget.
Check out this brief guide on how to stay true to your mobile app budget.
Budget for the Core
Prioritize what you need to spend on in the development stage. You know what features of the app will make your dream a reality, and you know what competitive edge will give you the advantage in the industry.
Your job is to make sure that you budget for these first and not any less or more during this phase. You will realise you have more capital but this should not encourage you to widen your budget on extra features.
The People you Employ
It is very easy to convince yourself that you would be capable of every job in the startup. What entrepreneurs do then is that they spend too much on other things and not on their team. The expertise that is injected into your app startup can make or break your product. So choose carefully and strive to have the very best working for you.
You want people who share the same passion as you and have the same vision for the impact your application is geared for. Just because you are the new kid on the block does not mean you should settle for the first person who walks in. People understand the value of new ideas, especially in the app industry and you must scour for the right people for the right job.
Digital marketing is powerful. Right now even you, reading this, are engaging in it. With everyone hooked on digital screens it only makes sense that you should talk to your target market on social media platforms.
Digital marketing is inexpensive and allows you to devise your own marketing campaigns depending on your app, and your demographic. With promising ROI it is limited capital well spent.
Ride along with another brand’s PR. Not only are collaborations safe when you are partnering up with an established brand, they also allow a new business to become more visible. Collaborative marketing always offers value to customers who will then see your mobile app as useful. All you had to do was announce a promotion after the use of the brand you are collaborating with.
It is often hard to compete with apps that are established or running on a model that you cannot afford to compete with. You dont have to. Look at the individual monetization strategies and come up with a creative solution. Perhaps you could offer in app purchases or a subscription model to your customer base.
Use Online Free Tools
Do not underestimate online resources and sofwares. A tool as simple as one that monitors your cash flow can really change the game for you. With a myriad of tools online, pick and choose which ones can streamline your management process and simplify things for your startups, letting you spend less time and effort on trivial but crucial tasks