How To Get Investors for Your App Idea
You’ve got a great idea that solves a problem for people. You know that people will be glad to have this mobile app but then you discovered a challenge. You don’t have enough financial resources to develop and market this app. This means that your beautiful idea may never make it to Google Play Store or Apple App Store except you get investors to invest in your app. Investors need more than a great app idea to put their money down because beyond a great idea, they look out for a project that will be successful. This article is about to show you what makes an app idea beat an investor’s ‘success mark’ and get you the funding you desire.
- Understand the market
Don’t approach an investor yet if you haven’t done some research to understand your app’s niche. You may want to know if there are apps like yours already in circulation that are successful. This will help you understand the nature of competition your app will face and prepare you on how to beat the competition. Do some thorough research to be sure that your idea isn’t a copy-cat of what an app is already offering to the market. Investors aren’t keen on investing on an app idea that already exists.
Make sure that your app idea is new and that it solves a popular problem in a unique way. These are part of the major questions investors ask. They want to be confident that they will get returns on investment from your app’s success. You need to clearly detail what makes your app different, what features it will have and how it solves a prominent problem?
- Build a brand for your app
A major part of every successful business is its brand. Branding helps investors streamline their perception of what your app does and how it does it. It also presents your app idea as one that has gone through critical tinkering and projections. Your branding should make it easy for anyone to easily understand your vision for the app. Mango is an app we’re developing for its owners, see how they’re building a brand for their upcoming MVP. Getting a logo, domain or mock up of your app can help your branding. That reminds me, we a team of experts to make logo designs for your apps branding. Aside from serving as the foundation of the app building process, it also gives investors a clearer understanding of your pitch deck.
- Get a great pitch
Imagine that you bumped into a potential investor in a hallway. He is in a hurry and you have less than a minute, only one chance to tell him why he should invest in your app. You will need more than a few unplanned thoughts to get him interested in your app. The kind of pitch you will apply in this situation is called an elevator pitch. Within 30 seconds you should be able to clearly and persuasively say what problem your app solves and how it solves it. Perhaps the investor gets interested and invites you over for a 15 minute conversation. You will need a more elaborate pitch. You may need graphic images, stats, video demonstrations, MVPs or video demonstrations at this phase. Remember, the aim of pitching is to sell your app idea.
- Create an MVP
An MVP doesn’t only give your app idea more credibility, it also helps investors visualize your idea better. MVP stands for Minimum Viable Product which An MVP shows investors that you believe in the success of your app. You can also use a demo of your app to allow investors to interact with your app practically. With an MVP or a demo, you can quickly detect potential glitches or bugs, giving you an opportunity to fix them before an investor sees them. If you want a proof-free low budget MVP for your app idea that models your basic idea and interests investors, reach out to us. Let’s get you on your way to getting an investor.
Final thoughts
The ultimate goal of an investor is to multiply their money in projects where they understand the risks as well as the prospect of success. You should clearly show them why your idea will give them returns on their money and how it will make life easier or more enjoyable for others.
If you need help building an MVP for your app idea or making logo designs for branding purposes, we’re just a click away.
