It has been predicted that by the year 2016, the number of app downloads will reach over 211 billion. By 2017, it will be 254 billion. So you can rest assured that the app market displays no signs of slowing down. Yet, not every app developer can make the cut despite their ambitions to make the next big mobile app. Most of the new apps that are developed gain very little or no traction and startups fail quickly.
Before getting into the game, it is extremely vital to know and understand the factors that make mobile app companies go bust.
1. Poor App Design
Poor design is responsible for the failure of a large number of apps – by some estimates 80% of gamified apps fail because they are badly designed. Keep in mind that well-designed apps (and thus more successful) apps have certain characteristics in common -- a proper user interface, careful placing of buttons, high image resolution and supreme user experience.
2. Neglecting The Competition
Generally, mobile app startups are advised to focus on their own venture rather than getting distracted by the competition. However, this can be taken only so far, evidently. Ignoring the competition was a recipe for catastrophe in 19% of startup failures. So, do not ignore your competitors. Try to know what they are doing -- whether it's the products they are making or their marketing strategies. It will help give direction to your own project and help you define your own USP.
3. Lack Of Capital
Having only 90% of the needed capital to start your business is not enough -- you need 100%. In spite of multiple approaches in chase of the ever elusive product-market fit, the social news reader Flud sooner or later ran out of money. Many other companies follow the same depressing trajectory. So, it is important to plan ahead and allocate money and time wisely. You don't want the runway to end before the startup idea has time to reach its rising point.
4. Bad Launch Timing
Do you know that 90% of mobile application startups fail because they launched their mobile app too late or too early? If you are in a rush to launch your app may still be imperfect and not offer a good user experience, resulting in a loss of reputation. Launch too late and you could have missed out on a time that was ripe for your app and when the competition was less intense. Bear in mind that launching too slowly has killed a hundred times more startups in compared to launching too fast.
5. Poor Marketing Strategy
Failing to mobilize a powerful marketing strategy will cause your product or service to fail irrespective of how good it is. Most mobile app startups that fail often use all their resources in developing and executing the app, but completely miss the marketing process and fail to create a powerful, well-designed marketing plan across platforms (including social media).
This article was originally published in Business 2 Community.