Many applications have already been released and it is almost impossible to stand out by trying to create another social network or note storage service. Therefore, it is important to immediately choose a good niche that will attract a large target audience for your product.
In addition, by conducting a preliminary analysis of the market at the concept creation stage, you can save money and make the necessary changes to your plans in order to offer your users a truly high-quality, relevant product.
Let’s find out how to find a profitable niche for a mobile application.
No matter how well you understand the market, analysing app store categories will still give you a lot of useful data. The main recommendation is to try to choose different categories from a common theme. Such specialisation provides more chances of gaining a foothold in the market.
For example, you can define individual directions by genre in the category of applications for reading or buying books: business literature, science fiction and fantasy, non-fiction publications, detective stories, and other genres. In this way, it will be easier for you to attract the audience’s attention and understand what exactly your target user segment is interested in.
Almost all successful start-ups did not create new niches, but offered a new way to solve existing problems. Great examples include Uber and Airbnb. You can spy ideas on bulletin boards in the services section.
People are constantly looking for new types of entertainment, ways to learn languages, make purchases on online stores, travel, are interested in a lot of things for which they are used to paying money. If you create a mobile application for such a niche, you can easily convince them to pay for it.
A niche market is a segment of a much wider market. A narrower specialisation allows you to quickly attract your target audience from the very beginning and successfully scale it in the future. But the growth potential of your product must be strong enough. Otherwise, you’ll either not be able to get a decent profit at all, or you’ll fight with competitors for each user.
To get help in assessing the market potential of your mobile product, you are better off hiring a professional marketer, because to complete this task you’ll need certain terms, even for an experienced specialist.
The easiest way to make money is to provide real benefits to your users. Think about the problems that most people have that are still hard to solve.
Then take the time to search for existing mobile applications that solve such problems. Rate their approximate popularity and think about whether you can make the product better or more profitable for users. For example, if competitors charge $15 a month for a subscription, but you can offer the same for $5 a month, the chances of success are pretty high.
Here are a few examples of niches that are particularly interesting in terms of profit. The competition in them is still quite moderate, so new players have an opportunity to succeed.
These niches will always be relevant, regardless of how trends and technologies change. This includes, for example, weight management apps with training lessons, diet apps with reminders. It is also worth paying close attention to fitness. If you offer help in self-development, then this may include topics such as education, career, professional skills and the like.
These apps have one indisputable advantage: they are intended for those who are used to spending money on useful tools. Such a niche will always be profitable, because the average user here pays a lot more money than in other categories. Applications of this type are designed to solve work-related tasks, such as storing passwords and information, scanning documents, and other processes associated with professional activities.
Gaming and entertainment niches continue to generate maximum revenue in the mobile industry. Nevertheless, this segment is significantly saturated at present and is experiencing a high level of competition. That’s why it makes sense to pay attention to other categories of applications.
The most important step before launching a mobile application is to conduct a detailed market analysis and choose a niche in which you are able to prove yourself. Your success will depend entirely on this. Sometimes such an analysis brings rather unexpected results and forces you to make major changes to your initial strategy.