The market for Mobile Apps has been crowded for a couple of years as millions of apps are available for users.

The mobile app idea needs to be well researched by the mobile app development company. One should identify market trends and users' requirements to make custom mobile app development worthwhile for any business.

A business must undergo technologies and should leverage the right platform and mobile app development companies for a perfect competitive analysis in a competitive edge.

Businesses these days are all about knowing and alleviating risks, mobile app development companies must know who the competitors and race partners are in the mobile app market.

“Mobile is the future of everything.” Successful mobile apps will drive your business. -Forbes. Mobile is indeed the future of everything, from business and healthcare app development to gaming and all-things good in between.

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What is a Competitive Analysis regarding Mobile Apps?

Competitive analysis is to identify and assess your present and potential rivalry’s strength and shortcomings. With the right competitive analysis, you can get a portion of its highlights for your upcoming mobile app development.

Various organizations lack to evaluate market and competitors services or products by ignoring the competitive analysis process. This may lead to failure or a business loss as your application’s qualities may not match the market and user's needs effectively.

A prior analysis is an examination of the weaknesses and strong points of your present competitors.

Mobile App Competitive Analysis is required before moving to develop an app or you can ask mobile app development companies to perform a detailed competitive analysis.

The process of competitive analysis will help you create a report on your rivalry at every stage of your business lifecycle. No matter whether you are a start-up or an established business, competitive analysis plays a very important role by offering useful insight for any business trying to introduce new products or services to the market.

Here is a proficient set of data from the competitor analysis where you will be able to:

  • place your service/products in the best way
  • satisfy your customers’ needs
  • utilize your competitors’ weaknesses
  • discover their strengths
  • build new opportunities for your business
  • As competitive analysis is a long process divided into steps, we have to make it as simple as possible.

Reasons for a Mobile App Competitive Analysis

Competitive analysis is no exact science as each app developer will have their distinct manner of doing the research.

The internet access has been overtaken by Mobile devices. In 2018 as per the research, more than 70% of web traffic came from mobile devices and before than it was 57 per cent in 2017. Quartz estimated a jump of 80 per cent in 2019. It is predicted that the global mobile app economy is to hit $6.3 trillion by 2021.

Hence, businesses need to carry a competitive analysis for the success of any app product at various stages of app development. So, by identifying your competitor's strengths and weaknesses, you can deceive them and create a mobile app that leads the market.

The mobile app economy worldwide is expected to raise $6.3 trillion by the year 2021.

  • It determines the viability of the app idea and app success calculations possibilities in real-time.
  • Competitive analysis guarantees a business with the evolving market competition.
  • It assists you to see what comparable entrepreneurs are failing at and helps you avoid the same.
  • It helps to acknowledge the effect that change can have on the market.
  • It also supports in identifying the motivation after your service or product.

Let's see detailed Competitive Analysis Steps for Mobile App Development 2021:

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1. Market Analysis of an App

For a good analysis that will help your mobile app, you need to be a Stalker! Once you start identifying your rivals in the market, the first thing you would want to do is know the detail about what they offer and how they are marketing.

You will have to check their steps on how they are reaching the audience through web presence, apps, websites, social media, and more. There are tools available to stock on their steps such as SimilarWeb, Alexa, Ahrefs, and more to comprehend on how to perform competitive analysis.

You can surely depend on these tools to know about your competitor and their product analytics along with online strategies they use. Another great tool to analyze the market is ProductHunt.

This would help you create an opportunity to make your app more effective and stronger than the existing app in the market. You can offer a more precise product for your users and could make it right through strategies, tactics, and strengths.

  • Industry Analysis
  • Business Offerings
  • Strategic Initiatives
  • Technological Capabilities
  • Organizational Chart
  • Key Competitors

Also Read: What are the benefits of competitor analysis? 

2. Creating a Scope Document

At The One Technologies, we have experienced mobile app developers and project managers focusing on helping our clients to create their ideas into reality. For more than a decade, we serve to develop client app ideas to a successful app product from its planning to execution.

For successful mobile app development, we use a scope document. A scope document assists in documenting your ideas in detail and helps to evaluate all the development steps.

Creating a scope document is to document your idea on how your app works for the user and what it should do. We always focus on the detailed identification of the app idea and its development process to make it work efficiently.

As a mobile app development company, we use several ways to gather data and requirements from the client to develop their scope document:

  • Design briefs
  • Calls and Skype-conferences
  • Mood-boards
  • Chats in Slack/Hangouts
  • Brainstorming sessions

3. Competitor’s Web Presence

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The majority of the competitors are present on social media platforms in the time of digitalization. Accepting the fact of social media, more and more users attract helps you gain the customers and conversions take place.

These will help you gain a strong point over your competitors and assist you to gather data on their web presence and website traffic. Leverage the benefits of social media presence by evaluating your rival's website and social media posts.

  • What are the marketing strategies they follow?
  • How they are marketing their services and products on social media?
  • How do they assist their customers through their social media?
  • Are they using paid campaigns?
  • Which social channels are they not available on?

This information and analysis will help you grow with a strong point to engage your customers. For a decade, social media is the king and businesses need to get a feel of the web and social media strategies that are used to endorse the product/service app. Overall analysis of web presence will help you gain a competitive edge.

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4. Competitor’s Unique Value Offering

Every business has its USP i.e., a unique selling point that will help you offer something unique from others.  Every business comes with its idea and unique solution that helps users solve their problems in terms of “value offering”.

You can recognize your app competition in the value your offer to your customers. While analysis, you need to find the USP of your product that serves different from others and makes the apps more appealing to users.

Every app is offering something different such as on-time response, grievances, regular updates, excellent security, or a feature that others are adopting at a very slow rate. Now is the time for you to identify that unique selling point to offer your customers.

5. Marketing Insights

The marketing insights is something that you have to gain by comparing apps tool. It will help you assist in identifying your app performance with a competitor and discover the emerging threats. While comparing apps, you will find competitors' weaknesses quickly and these will help you create a more effective application with a better solution.

Marketing insights will also help you with ideas on how to promote your app by knocking the competition.

-> The Compare Apps tool comes with four different ways that compile all the applications' parts.

  • General View — It will give a quick overview of the app’s functionalities.
  • Extended View — Offers an in-depth analysis of compatibility, monetization strategy, and available languages.
  • Reviews View — It will offer a thorough profile of your customer's satisfaction and customer support for your app.
  • A View — It will with the flaws in your ASO and understand how to increase the visibility of an app.

Also Read: 6 Best Mobile App Development Ideas for Startup Business

6. Develop a Competitive Analysis Matrix for your App

For your App Matrix Analysis, you need to gather a competitor analysis network. It will help you identify the possibilities regarding sorting out all the associated data into an important information position.

Collecting complete data about competitors will help you get the matrix of their strong and weak points which you can use to avail your application. You need to integrate some primary components such as the app data, methodology, structure, core features, and more.

For the matrix, businesses need to follow different parts of a competitor's application execution and app functioning to make your app stronger and unique.

7. Competitor’s Strengths and Weaknesses

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We all have heard and learned about SWOT Analysis. Same we are going to apply here for internal business analysis. For the competitor's analysis of the mobile app, you need to use the SWOT concept for making a tab and comparing the strong and unique points.

You can focus on key parameters to know the Strength and Weaknesses of your competitors in the market and understand what they are offering.

Once such careful research is done, you can plan out your competitor’s position in the market and plan your step accordingly. You can focus on steps that are to be avoided and mistakes to be ignored for the productivity of the app.

Here is the time you can identify your unique selling point and offer better service to users. The right action can help you lead the competition in less time and you can achieve newer horizons.

8. Reviews on Competitors’ Apps

A detailed review of competitors' app will help you know how successful an app is identified by reviews on competitors' apps. And one of the most essential stages of App Competitor Analysis is to know the rival's app performance.

It is very crucial to know the stage and assumes of competitors' apps in the market. For the same, businesses need to focus on small details and to common threads for both complaints, and praises while running through reviews.

You will gain confidence in your decision and identifying others' app position will make sure your apps' success in coming times. With any negative information in hand, you can recommend valuable features and easy usage of the mobile app while hiring a mobile app development company.

9. Analyze the App Industry

The market size of the worldwide mobile application was valued at $106.27 billion in 2018 and is predicted to raise $407.31 billion by 2026. It is growing at the highest speed of a CAGR of 18.4% from 2019 to 2026.

The expanse of research includes mobile applications in the healthcare sector, gaming applications, mobile music, and entertainment applications along with fitness applications and social networking applications, amongst other mobile applications.

The demand for mobile applications was never down and has always seen raising for more than a decade. Besides, machine learning and artificial intelligence have a major impact on mobile apps demand.

You can know more by identifying your industry and visiting experts' speeches and professional conferences. These will help you stay ahead of the competition in the competing markets.

10. Analyse your competitors’ SEO efforts

Last but not least for diverse competitive analysis is to know the SEO efforts of your competitors. SEO is mandatory for any app development to get top rank in search engines by optimizing the mobile app.

SEO efforts of competitors will help you know their position and the strategy of their marketing.

Business must analyze the structure of their competitors’ content on the app such as how the articles look like, how they have placed their headlines, are using any interactive components, and more. Besides, it is crucial to know how they are optimizing their app for better reach.

SEO efforts of competitors will help you know their position and the strategy of their marketing.

Business must analyze the structure of your competitors’ content on the app such as how the articles look like, how they have placed their headlines, are using any interactive components, and more. Besides, it is crucial to know how they are optimizing their app for better reach.

What are the benefits of competitor analysis?

The benefits of competitor analysis are hard to miss.

Competitor analysis will help you:

  • Know the market opportunities to raise your market share and brand awareness.
  • Exploit your competitors’ weaknesses and convert their customers to your product or service.
  • Improve your position with given product category.
  • Better market your strengths to your potential clients.
  • It assists with the required information to plan future marketing strategies.
  • Allow you to make well-informed decisions on how to develop your product.

In a Nutshell

Planning your mobile app competitive analysis with these elements will bring you at par or even way above your competitor’s level.

Identifying the competitors and knowing their steps is a necessary part of staying relevant in the future marketplace. If you are planning to develop and launch your mobile app, competitive analysis is essential for your business.

Many organizations outsource tech experts and hire custom mobile app development companies to get a detailed analysis on the market and competitors to re-assess the source. You will get detailed information on the mobile app and the future of your product based the insightful information.

There are multiple benefits of competitive analysis for a mobile app development to be leveraged by having specific data in your niche market.

For instance, you need resources for your app development, tracking your competition's products on what they offer along with its services, price, social media traffic, and more will help improve your product even better. Get in touch with mobile app development services for fruitful app development services and lead the mobile app competition.

FAQs

  • What should a competitive analysis cover?

A competitor analysis will give you competitors' value offering, features, market share, pricing, differentiators, strengths, weakness, and more. With a competitive analysis, you will know the detail about your competitors offering and will able to make your product better.

  • What is the purpose of competitive analysis?

The purpose of a competitor analysis is to identify market needs and competitors' services and products so that you can improve your product with a better user experience. By knowing your competitors' strengths and weaknesses, you can confirm your mobile app for the future and lead the competition.

  • Is SWOT a competitive analysis?

SWOT analysis is a strategic tool that will help you identify business needs and applies to industry knowledge. The proposition is simple and easy to put. You need to identify the strengths, weaknesses, opportunities, and threats of the service or products. For a business app development, SWOT analysis is the best option for your competitive analysis.

  • What are the advantages of conducting competitor research?

Conducting market research and rivals' analysis help you know their position in the market. Your competitors offering something to users and you can fill the gap by analyzing the weakness they have. It will help you with:

  1. Keeping a pulse on your competition,
  2. Understand differentiators,
  3. A more tactical sales approach,
  4. Taking advantage of negative customer feedback.
  • How to collect data for competitive analysis?

There are several ways to gather competitors' data for better analysis.

  • Desk Research
  • Online Survey
  • Brand Awareness Study
  • Stocking their web presence
  • In-depth Interviews
  • Mystery Shopping

If you find this blog useful and are curious to know more about mobile app development, please go through the below-mentioned blogs.

  1. How Much Does It Cost to Outsource App Development?
  2. Flutter Vs React Native Vs Xamarin – Top Cross-Platform Mobile App Development Framework
  3. Why Should You Choose Python for Real-time Applications?
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