The most difficult question for app developers is how to attract investors for their app. You have some of the solution, but there are some gaps that you are struggling with. You know you need to create a killer pitch and entice investors by demonstrating the potential of your project. But how do you go about doing this? What qualities do investors look for in a pitch? How do you be noticed and demonstrate that you are a worthy investment?
By the end of this post, you’ll know all the answers to those questions. You’ll understand how to craft the perfect pitch, how to stand out from the crowd, and how to demonstrate to investors your genuine potential.
1. Show Commercial Traction with Market Research
Contrary to popular belief, investors are not simply looking for a “great idea.” Whatever the next great idea is, they’ve probably heard it at least a few times in the last week.
What they want is a passionate visionary with a strategy. You must demonstrate that you have done your homework, planned your long-term strategy, and are prepared to hit the ground running. They need to know that you have the skills to carry out this concept, build a wonderful mobile app development company, and keep it profitable long enough to achieve an impressive ROI.
Begin by conducting research. “I believe this will be a great solution” never wowed an investor. They require more concrete groundwork. You must be familiar with your market. What issue is your app addressing for users? How serious is this issue? Is it affecting a large number of people? Can you successfully solve it? Those are some of the questions you should have addressed and answered, ideally with the assistance of some real user research. Hard numbers and facts will always catch investors’ attention and demonstrate how serious you are about this.
Be prepared to say things such as, “We interviewed 300 people and found that 75% of them wish there was an easier way to do ____” , or even “We found in our research that 60% responders would be willing to pay for ____ if it saved them time and effort” .
You may accomplish this in a variety of trustworthy ways. Utilize online survey tools such as Survey Monkey. Even if you have to pay a tiny charge, an online poll with a large enough sample size will provide you with the tangible proof of concept you seek. You might also conduct a simple survey among your known acquaintances to get data. You may establish a blog or microsite about your idea and produce short but intriguing content to engage enough individuals to build a tiny community. All of these procedures will demonstrate to investors that you are serious about this concept and are dedicated enough to see it through.
2. Find Your Niche
The issue about apps is that they are wonderful for business, as everyone knows. So your idea has most likely previously been developed into an app in a manner similar to, if not identical to, the manner in which you want to develop it. And, let’s face it, no one is going to invest in another ‘kind’ of app. You require a competitive edge. You must set yourself apart from the competition. Instead of yet another travel app, how about one that assures the safety and security of female travelers? Instead of yet another ecommerce app, how about one that connects people to local merchants, allowing them to support local companies while also enjoying the convenience of ecommerce?
The point is that you must define your target audience in a certain niche. This is important not only for attracting investors, but also for the long-term success of your App Developers San Francisco in general.
An app aimed at a certain segment of the population would pique the interest of investors right away. This is because such programs have a distinct value. Users are more likely to engage with an app if they believe it was created just for their requirements. Everyone craves exclusivity, especially in this day and age of broad generality. Investors recognize this and, as a result, are more likely to invest in specialized concepts.
3. Get Your Elevator Pitch Ready
Not all investors are willing to sit down and listen to your thorough plan of action at all times. Sometimes you only have a minute or a half to pitch an investor on your idea. If you spend that time well, you have a better chance of getting a meeting where you’ll have enough time (and attention) to explain your ideas in greater depth.
So, prepare an elevator pitch – a succinct pitch that describes what your idea is and what it does for people in 30 seconds or less. To achieve this properly, you must work and rework what you would say to your investor. You should repeat this to yourself multiple times, as if it were a well-rehearsed dialogue delivery.
An elevator pitch is not the time to convey your story or demonstrate your enthusiasm for the topic. In an elevator pitch, you briefly outline what your software will do for consumers and why they should download it. That’s all. It will require some effort and fine tuning to keep it brief but punchy. Concentrate on the most valuable aspect of your app, its main selling feature. Concentrate on the most difficult problem you intend to tackle. After that, you’ll have an elevator pitch ready to go, which might land you an investor meeting up close and personal.
4. Build a Prototype
Don’t tell, show. That is the main takeaway for investors. You can talk about your idea all you want, but a prototype is required to show investors how serious you are to your Affordable Mobile app Development Service.
Don’t be put off by the jargon. It is simple to create a prototype. You may create your own if you are a developer, or you could hire an app development business to create one for you. A simple prototype can be created fast and affordably to show investors exactly how your app will work. Check out Fortune’s informative essay on why investors love prototypes.
A prototype is a low-fidelity depiction of your ultimate application. It allows you to showcase your app’s design, as well as its logo and branding. Yes, you must have already worked on your app’s design, layout, and fundamental functions before approaching investors, but that is part of its intrinsic power. When you have a prototype to show your investors, you are not only showing them what your app will look like, but you are also showing them how much time and effort you have already put into this app and how serious you are about your idea. You are demonstrating to them that you are dependable and deserving of their money.
5. Create a Compelling Pitch Deck
When you walk into an investor meeting with your brilliant idea, competent research, and, of course, your prototype, your pitch deck serves as your wingman. This is often a PowerPoint presentation that runs on the screen while you explain. This intriguing Airbnb pitch deck will serve as your inspiration.
Best startup pitch deck examples
You don’t want your pitch deck to be a verbatim transcript of what you say. Make your slides visually appealing and concise. Use them to highlight the most significant keywords or to display charts, graphs, and diagrams. This is also an opportunity to showcase your app’s branding. To generate believable branding for your app, spend time establishing a logo, a slogan, and a color theme. your phase, in addition to giving your app individuality, ensures that investors understand how prepared and invested you are in your idea.
Following all of the above stages will demonstrate to your investors that you not only have a brilliant app idea, but also that you are a dynamic go-getter with the skills to pull it off. If the history of startups has taught us anything, it is that apps with outstanding execution are more important than apps with amazing ideas. Even if it appears like every concept in the world has been taken, it is your execution plan that will set you apart and make investors want to give you, their money.
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