Why you should watch your competition if you want more app downloads
As a developer in the app industry, keeping a close eye on your competition not only makes good sense; it’s imperative. By finding out your competitors’ strengths and weaknesses, you can avoid making certain mistakes, identify new customer needs and form a killer marketing strategy that results in more app downloads for you. Let’s look at these benefits in more detail below.
Learn from your competitors’ mistakes
By understanding your competitors’ strengths and weaknesses, you’ll be able to see what they’re doing right, and what they could be better at. For example, if their apps are getting poor reviews, you may be able to work out why, and avoid similar problems happening with your own.
You may identify that their pricing structure doesn’t work, or their advertising is ineffective. Perhaps you’ll discover a blunder they’ve made somewhere along the line, that you’ll be especially careful not to replicate.
Identify customer needs
Getting to know your competition allows you to gather intelligence about your app’s ideal audience, including feedback on what they do or don’t like. You may decide to use your findings to create new, innovative features for your own app that you know will solve problems for people. That in turn, could give you an edge over your competition.
Develop a successful marketing strategy
Knowing your competitors, and how and where they’re advertising, can help you devise an effective marketing strategy of your own. There are online tools you can use, for example, that allow you to see all your competitors ads online (Adbeat). Or you can discover how much your competitors are spending on Adwords and work out which keywords they’re using KeywordSpy.
Many app developers rely on Google Ads and Facebook Ads for marketing. And while these channels are effective, they’re also costly and competitive. To get ahead of your competition, it’s a good idea to spread the word about your app across less competitive channels too. One example of how you can do this is via ConnectPlus, a free in-app ad exchange platform that allows you to advertise your app for free. Learn more here.
What should you include in your competitor analysis?
A good competitor analysis should cover your main competitors and compare product features, pricing, website and other online content, social media presence, customer feedback, PR activity and SEO structure.
It shouldn’t be a once in a lifetime activity either. Keeping a watch over your competitors is something you should do regularly, so you can identify new opportunities when they arise and tweak your marketing strategy accordingly.