Launching a mobile app is not tough anymore. But, getting business through the app, to stay competitive in the market where millions of apps already exist is the toughest part. App developers should evaluate the competition out there first and do a thorough market analysis, even before starting the development part. The process of drawing the market analysis for a mobile app is a long process and there some several steps or phases involved into it. Also, there are different ways to follow for the same. We’ll cover here the overall evaluation technique in this article. 
The Six steps to be followed for analysis of the application are as follows:
Step 1 – Find and define your competitions:
The first step of analyzing the competition is to identify the competitors of your app and the services you are providing through your app. The complete understanding of the competitions includes – what are the competitors are offering to the consumers, what you are offering them, the difference between their services and so on. What you need to do here is to open a spreadsheet and note information about your competitors.
Step 2 – Compare your app with other businesses:
The following points should be compared when you are comparing your app with that of the other

  • Product Features
  • Web Presence
  • Monetization options
  • Position in the market
  • SWOT analysis
  • Who is the target audience
  • Unique value offerings
Step 3 – Analysis of the app stores

You can check out the app store data for learning how your competitors are doing in the market. The data includes the ratings – average, good, excellent or poor, reviews, update cycles, last update date and the bugs fixed recently. User reviews are important for all the versions of the app. The bugs arrived on the apps and the fixed versions and additional features they are offering with each of the version releases is important as well. This will help you avoid committing the same mistakes with your applications as well. Always check out the negative reviews to find the problems with the applications of your competitors.

Step 4 – Analyze the need of your target audience

Every business has some services to offer and mobile apps are not the exceptions. You are trying to resolve some issues or providing solutions through your mobile app. Different users have  different needs and expectations for each app. Therefore, you have to learn all the needs of your users to draw and improve services of your mobile app.

Step 5 – Evaluating the marketing techniques for your app

Evaluating and identifying marketing techniques for your mobile app well in advance is very important. It will reduce the hurdles and hardships of marketing later when the app is ready for sale.

There are marketing mediums like:

1.) Social Media

2.) PR Agencies

3.) Advertising Agencies

4.) Ad networks

5.) Content (blogs, articles, videos, audios, podcasts, infographics, images)

6.) Digital marketplaces

Step 6 – Tools for monitoring and analyzing competitions

There are many tools which you can take the help of the evaluation and analysis competitions:

  • Google Alerts – You’ll get notified about the specific keywords that your users search on the search engines when you set up google alerts.
  • App Annie – You can get reports on your competitor’s app marketplaces and reviews through the app stores.
  • App Store – App store is another tool to get the nitty-gritty about your competitors’ businesses.
  • SEMrush – If you want to know the strength of the online presence of your competitors or the source of healthy backlinks they are getting from, you must use this application.

So, have you got a great idea of building a mobile app, go ahead and prepare the ground for it through this guide.