How To Turn 3 Factors Of App Failure Into 3 Factors For Successful Growth
Updated: Feb 24
There are some very common problems when it comes to startup businesses. On average 96% of them fail in the first 12-18 months. This is typically down to a handful of reasons, three of which we are going to address specifically for apps and app growth and how you can avoid the pitfalls.
Three of some ten reasons for these failures are: 1. Lack of product-market fit
2. Lack of resource or talent
3. Lack of funds
Knowing you, you have done your homework to avoid these things as much as humanly possible. Funds are tight but you have enough runway to get yourself in motion. The light at the end of the first tunnel being investors ready with their cheque books eagerly anticipating the numbers you come back to them with.
So, how do you ensure that you turn 3 potential reasons for failure on their head and milk them for app growth instead?
1. Audience profiling to ensure you have a product-market fit with the right people.
Audience profiling is the new standard in tracking and analytics making sure you pick up every single bit of your users information and display it in a way that tells you who they are and what they have done in your app over time.
Capturing everything from geo and demographic information to a 12-month snapshot of every single event they have generated in your app. This gives you the data-richness to determine who is using your app, when they are using your app, and how.
Mixpanel is THE platform for this. Among a suite of tools surrounding audience profiling, they are positioned to give you detailed information on your users and your app and ad quality throughout the lifetime of your app.
2. Acquisition specialists with a data hat to fit.
App acquisition specialists that are not well-established agencies come few and far between. Especially those who have a data hat as well with all the technical knowledge to take that extra bit of weight off your shoulders.
Finding the right talent is a big deal when you are launching or going through a growth spurt; you need experts who are understanding of your situation, who can apply all of their knowledge and get their hands dirty, and also take some of the risks from yourself to their own shoulders.
We find ourself in an opportune moment to briefly say that Envision Digital has been working with small, startup apps for 4 years, is partnered with some of the most sophisticated solutions out there to back your app growth, and operates with a fee that suits you down to the ground. If you're interested, find out more by contacting us via the homepage.
3. Spend efficiently, spend wisely, and save yourself time and money.
Advertising does not warrant tens or even thousands of pounds/dollars/yuan to be effective. It's all about how you manipulate the campaigns you run and how personalised you can be utilising your data to create a feedback loop between tracking solution and ad platform.
The best ads come from a place of detailed user data points on specific cohorts and segments; by analysing and grouping certain behaviour you end up building yourself a powerful process.
Start low, work smart. Leverage the bidding and optimisation functionalities available to you per platform and start to gauge audience interaction and intent at the cheapest cost possible with a valuable output.
Gently scale your ads through a testing structure that proves each element of an ad campaign concisely and build conclusive experiments.
Well, there you have it for the time being. 3 steps that you can follow to turn failures into success. It ultimately comes down to working smarter, not harder.
Whether you have an app out there in the market right now or you're about to launch, we thoroughly recommend you have a data and growth strategy in place.
We have pinpointed the best time to generate one of those - read about it here.