Competitive Analysis

What You Can Learn From a Competitive Analysis

The Advantages of Conducting a Competitive Analysis

Imagine for a moment that everyone lives in a vacuum. Then, if we’re all living in vacuums, any problems or obstacles that arose would be entirely our own to address. Subsequently, in each vacuum then, we would see a variety of solutions that evolved to address the same issues from vacuum to vacuum. However, we don’t live in vacuums that are entirely separate from one another. Because of this, the very popular phrase, “don’t reinvent the wheel” still exists today. Simply put, it doesn’t do any good to spend time, energy, and resources developing an entirely redundant value. In the context of mobile app development this means conducting a comprehensive competitive analysis.

There are many benefits that developers reap from conducting a thorough competitive analysis. The competitive analysis is a process in the mobile app development workflow that helps the development team gain an understanding of the current marketplace. There are many factors to consider when conducting this analysis.

What To Look For During a CA

A competitive analysis begins internally. The mobile app developers must come to a value-proposition for their application-in-development before a proper analysis can begin. Defining the value proposition of the application prior to the market analysis is vital. Without the value-proposition clearly defined, the developers won’t have a lot of the information needed to properly move forward with the analysis.

Once the value proposition is defined, the developers will have a sense of where in the mobile market their competition lies. Once you’ve identified the competition, your team can begin drawing lines of differentiation between your application and that of your competitors. This is important. It’s important because it heavily influences your marketing strategies. If your team don’t understand what makes your application different, the end-user won’t either.

Other Competitive Analysis Tactics

Understanding the value-proposition and the differentiators between your application and the competition is just the beginning. There are an endless amount of insights that can be drawn from conducting a thorough and comprehensive competitive analysis. In addition to the insights found regarding factors of differentiation, the market analysis also provides deep insight into consumer behaviors.

Through the process of the market analysis trends will begin to emerge. These trends will apply to a variety of application elements. Ranging from user-experience, to the most trendy color-schemes, paying attention during the competitive analysis will result in mountains of useful data.

One aspect to which developers should pay specific attention is the user experience. The user experience is one of the most significant and impactful factors of any mobile app. With as much competition as exists within the market, and how many variations on a single solution is available to the end-user, consumers are becoming much more likely to delete an app and switch to a competitor after a single negative experience.

A Final Thought

There are endless insights to be drawn from a thorough competitive analysis, and this article only scratches the surface. For more information on competitive analysis, or anything related to mobile app development, visit NS804 today.

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