Finding a profitable app idea can be like trying to unearth gold. It’s unusual to find gold in the earth and when you do, it must undergo several processes to be converted into 24-carat gold because gold doesn’t in that form on its own. Likewise, it’s unlikely you’re going to just happen upon a great app idea; however, there are things you can do to help optimize your idea sourcing so that you can come up with a profitable idea for a new app.
Unfortunately, the process of finding this profitable idea can be as complicated as finding finished diamonds. The first thing you need to do is, perform market research and gather extensive data and stats pertaining to your app idea. The data that will be of utmost importance would include findings such as: which apps are most popular and which are the least popular, the most and least competitive apps categories, the type of new apps that have been downloaded the most and the least, the most lucrative apps category and the least profitable categories as well as the data regarding specific markets with issues that currently do not have available apps to address those problems. Once you have all the information and data, you can being to zero in on.
Three strategies that can help you choose a profitable app idea include:
1. Finding a problem, and then creating an app offering its solution.
2. Finding a feature that is not present in the market and creating an app to fulfill this need.
3. Discover niche market areas that experts struggle with, then resolve these issues with an app.
Note: While the first 2 strategies might seem very different, their implementation will be very similar.
1 & 2. Finding a problem and creating a solution or filling a void in the marketplace
It is important to determine whether your app idea would fill a gap in the current app market or if it would provide a solution to a problem. If you can answer yes to these points, then take your idea and move forward; however, if your answer is no, there is another alternative. Since your idea for an app is already being addressed by another app, you need to decide if you can create an app that is better and offers more functionality. If you can provide a superior app, it will provide value to users and is something you should develop.
If you haven’t yet come up with an app idea, you can use your market research data and make a choice. Decide which parameters to narrow down for your app category. For example, consider possible revenue, popularity and the current competition. You can choose a category that is quite lucrative, a category based on popularity or even one that is in a low competitive category, whichever idea you choose, choose one that will help you get fast results. Once you have determined your priority category, it’s time to start digging. Just like you did earlier, it is important to now search for potential voids or problems in that particular app category or decide if you have something special to bring to the category. Pick an app idea which best meets your requirements.
3. Developing a app solution from pain points sourced from niche experts
There is another way that you can source ideas for an app. Target an industry with high potential and start speaking to industry experts in that field. Find out their opinions regarding pain points and provide an app to meet the problem. Also ask what they think others in the industry would likely pay for such an app. If your research goes well, you can proceed with the creation of your app and you will have an audience of likely users already waiting.
Thus, it can be concluded that, by doing some market research and following certain methodologies, it is possible to find the most profitable app idea.
