If you’ve been wondering whether your latest idea could turn into a profitable app startup, then you’re not alone. Every day, developers reach out to tech investors to fund their projects. And a few succeed in attracting these investors and turning their minimum viable products (MVP) into the next big thing!
Of course, not everyone has such luck, with many developers left out in the cold. Their underfunded apps languish in the app stores, and user interest dwindles to a trickle. But with the right strategy, it’s possible to win over app startup investors, giving you the impetus to succeed rapidly. Here are a few handy tips on what you need to do.
Learn From Startup Success Stories
You could have the freshest and most unique app idea, but that doesn’t mean it will catch on. Whether we like it or not, market trends play a pivotal role in determining success. So take the time to investigate what apps do well in today’s market and attract investment.
Fortunately, there are many excellent resources to help you do just this. Start by reading tech-oriented news sites such as 9to5Mac, AppleInsider, Android Authority, Ars Technica, TechCrunch, The Verge, and Wired to learn about the latest and upcoming developments. Then, use analytics and data intelligence platforms such as App Annie and Apptopia to gain insights into competing and top-trending apps.
But you’ll also want to find tech investors and learn more about the startups they’re funding. And one of the best sites for this purpose is Crunchbase that features detailed information about acquisitions, angel investors, companies, funding rounds, private equity firms, and venture capitalists. If you do your homework, you’ll find potential app startup investors and key people to contact here.
Create A Marketable App With Monetization In Mind
If you want to attract investors, be careful about how you position your app. Ensure that you’re creating a quality product that fulfills the wants and needs of the target audience. Moreover, ensure that you’re offering functionality superior to that of competitors. Or that you’re introducing an innovative feature that makes your app indispensable to users.
You’ll also need to market the app properly to reach as many users as possible. Tech investors want to see ongoing user acquisition, even if your app is earning minimal revenues in its early stages.
Also, implement a monetization strategy that incentivizes users to upgrade to the paid version. This move will help convince app startup investors of the earning potential of your mobile app. Its financial feasibility will determine whether investors can achieve a good return on investment (ROI).
Why An MVP Is The Right Choice For A Startup?
Developing a full-fledged app to draw investors may be a risky choice for a startup. Not only is this option costly, but development will take longer, and your app will reach the market later. But an MVP is far cheaper and quicker to complete since it has the bare minimum functionality.
More importantly, after releasing the MVP, your potential investors can ascertain its viability. They’ll gauge market fit, target audience reaction, and overall feasibility. You’ll also have access to valuable analytics, which you can share with potential investors. And you’ll also have proven that you’re committed to the project and have a capable team able to release an app on time.
Every startup company dreams of creating the next Instagram, Telegram, or TikTok and taking the app world by storm. While it’s not easy to develop an app that gains such massive traction overnight, it’s not impossible either.
One of the best ways to give your app a fighting chance is to attract the right investor to fund your project. And you can do this by creating an MVP that shows significant growth potential. Contact us today to learn how NS804 can help you develop apps and MVPs that turn heads!