Learning from Your Competitors - Mobile App Biz Bootcamp (May 25, 2013)
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Mobile Biz Bootcamp | Developer Edition May 25, 2013 The Importance Of Competitor AnalYsis Twitter @emrichtom
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Every app is a business and every successful business needs a strategy. One of the best methods of devising your app strategy is by looking at your competitors. In this session, we will break down the steps, tools and techniques necessary to gain key insights from others in your app category in order to better position your app for success both in and outside the app store.
Transcript of Learning from Your Competitors - Mobile App Biz Bootcamp (May 25, 2013)
Mobile
Biz
Bootc
amp |
Deve
loper
Editio
n
May 25, 2013
The Importance
OfCompetitor
AnalYsis
Twitter @emrichtom
Page 1 | BIZ BOOTCAMP | THE IMPORTANCE OF COMPETITOR ANALYSIS | TOM EMRICH | @EMRICHTOM
ABOUT ME
7 Years in the Digital Industry
Specialize in Apps
Speaker & Blogger
• Freelance Consultant• Product Strategy,
Development & Marketing• Project Management
• Smartphone Apps• Tablet Apps• Digital Magazines
• Guest writer: Techiest• Manage Future Tech
Report• CTIA, BlackBerry DevCon
Page 2 | BIZ BOOTCAMP | THE IMPORTANCE OF COMPETITOR ANALYSIS | TOM EMRICH | @EMRICHTOM
From Elephant in the roomTo needle in a haystackIn 2008 when the App Store launched there were 800 applications.As at May 20, 2013 there are over 880,000 applications
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Page 3 | BIZ BOOTCAMP | THE IMPORTANCE OF COMPETITOR ANALYSIS | TOM EMRICH | @EMRICHTOM
My coffee shop analogy
Coffee shops in Toronto cost anywhere from $25,000 to $100,000 to open, with operating costs ranging from $500 to $1,000 a day and potential daily
revenues of up to $2,000 at the high end, and a couple hundred on the low end.
Page 4 | BIZ BOOTCAMP | THE IMPORTANCE OF COMPETITOR ANALYSIS | TOM EMRICH | @EMRICHTOM
An app is a business…And a business needs a plan
Mission
Objectives
Target Audience
Market & Competitive Analysis
Marketing Plan
Financial Plan
Page 5 | BIZ BOOTCAMP | THE IMPORTANCE OF COMPETITOR ANALYSIS | TOM EMRICH | @EMRICHTOM
Keep your Enemies closer…
Competitors are your greatest resource to improve your app business!
Instead of trying to defeat them see what you can learn from them
Page 6 | BIZ BOOTCAMP | THE IMPORTANCE OF COMPETITOR ANALYSIS | TOM EMRICH | @EMRICHTOM
Who are your competitors?
Direct
Ind
irectProducts that perform the same function
to satisfy the same need
Products that don’t necessarily perform the
same functionBut aim to satisfy the
same need
Page 7 | BIZ BOOTCAMP | THE IMPORTANCE OF COMPETITOR ANALYSIS | TOM EMRICH | @EMRICHTOM
What you can learn from themBranding
Product Features
Monetization Models
Categorization
Market Appetite
Marketing
User Feedback
Company Size & Culture
Page 8 | BIZ BOOTCAMP | THE IMPORTANCE OF COMPETITOR ANALYSIS | TOM EMRICH | @EMRICHTOM
Competitor analysis tools1. App specific tools
2. Digital tools
Page 9 | BIZ BOOTCAMP | THE IMPORTANCE OF COMPETITOR ANALYSIS | TOM EMRICH | @EMRICHTOM
Appannie.com
Page 10 | BIZ BOOTCAMP | THE IMPORTANCE OF COMPETITOR ANALYSIS | TOM EMRICH | @EMRICHTOM
Xy0.net
Page 11 | BIZ BOOTCAMP | THE IMPORTANCE OF COMPETITOR ANALYSIS | TOM EMRICH | @EMRICHTOM
Appstorerankings.net
Page 12 | BIZ BOOTCAMP | THE IMPORTANCE OF COMPETITOR ANALYSIS | TOM EMRICH | @EMRICHTOM
How to use this information
Ongoing Marketing
Ongoing Product Updates
Pre-Launch
Ideation
Page 13 | BIZ BOOTCAMP | THE IMPORTANCE OF COMPETITOR ANALYSIS | TOM EMRICH | @EMRICHTOM
5 things to do when you get home
Identify 3 Direct
Competitors
List Their Feature Sets
Compare Your
Monetization Models
List How They Are Marketing
Use These As Inputs To
Create A Plan To
Better Your App
Page 14 | BIZ BOOTCAMP | THE IMPORTANCE OF COMPETITOR ANALYSIS | TOM EMRICH | @EMRICHTOM
The big takeaway
The secret to success is simple.
Find out what works and do something similar, but better.
Find out what doesn’t work and
avoid it.
Page 15 | BIZ BOOTCAMP | THE IMPORTANCE OF COMPETITOR ANALYSIS | TOM EMRICH | @EMRICHTOM
Thank you & QUestions
Email: [email protected]: 647-746-2630Twitter: @emrichtomBlog: www.futuretechreport.com
Page 16 | BIZ BOOTCAMP | THE IMPORTANCE OF COMPETITOR ANALYSIS | TOM EMRICH | @EMRICHTOM
Resources
http://ipod.about.com/od/iphonesoftwareterms/qt/apps http://148apps.biz/app www.appannie.comwww.distimo.comwww.appstorerankings.comwww.appnique.comwww.xyo.netwww.google.com/alertswww.socialmention.com
