Awareness onBusiness Aspects ofApp developments Presented by Mahesh Amarasiri Head of Strategic Planning Etisalat Lanka (Pvt) Ltd
Introduction Traditional Professions vs Emerging Professions Entrepreneur vs Apprenuer Application Development as a profession Technical Oriented Development Vs Consumer Oriented Development Developing a Business
Program Outline Market Research Identification of customers needs Need Gap Analysis Identification of Pain points Basic Market Research Developing a Business Why Business ? Components of Business Case Q&A
Why Market Research? Understanding the customer Identify the gaps in the existing products Pain points Identification of the trends in the market Competitor Actions
Typical Questions? Who are my customers? Who are my potential customers? Where do they live? What are they doing Why are they buying product What alternatives do they have?
The process You can make it simple or Complex Simple Market Research Complex market Research
Step 1 : Define the Problemand /or Opportunity You are trying to launch a new product or service. ( Opportunity) Awareness of your company and its products or services is low. ( problem) The market is familiar with your company, but still is not doing business with you. ( problem) Your company has a poor image and reputation. (Problem)
Step 3 : Tools for MarketResearch Online Surveys Friends Community Feed back on similar Apps on Social Media Reviews Prototyping ( intuito) Focus Groups
Pit falls in market research Generally customers cannot visualize what they want until they see it the best product ideas are those people dont recognize that they need No survey results would have told Google that a search engine was necessary or breakthrough!
From App Development to AppBusiness Developing a App Vs Developing a App Business What are you trying to accomplish from the App Single Products or Multi Products Create a plan that extends for month or years
Choosing the Right BusinessModel Premium Model Fee for Download High barriers to entry Fermium Model FOC Download App Upgrade option to premium Lowers Barriers to Entry Advertising App and the Content is Free Advertising Revenue
Build for the Users Understanding the different user engagement How the app will be used When it will be used
Measure Performance Not just number of downloads Daily Active users Time spend on App Basic to Premium upgrades
Business Case Should answer What kind of Products are you planning to sell? Why should people buy it? Who are my specific Users ? How are you going to keep and grow your base? How will I get my app to the customer? How will I make money ? What resources do I need for this?
Develop a App Business…. Donot develop a product…. Q & A Time