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I have the app ready and looking to find a niche to target.
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You will have to do market research to identify the right target for your app. What type of content are you offering? Typically this research should have been done before building the app. Market research is the first step in app planning and strategy.
That's where many businesses go wrong. The businesses build a prototype first without performing any form of research of the market.
Sure, it begins with an idea but every idea comes from a source, a problem. Whenever you come up with an idea, it has the target audience by default.
I mean, it's the target audience who inspire entrepreneurs to come up with a solution to their problem.
You observe people, you observe what they're struggling with, and then find a solution and sell it to them.
Since you have already developed an app, you definitely will have a target audience. Every idea has.
I mean it begins from there. I'm not sure how you developed an app without deciding who's gonna use it.
If that isn't decided, how do you develop the app features?
Please help me understand more about your app, so that I can help you cultivate a strategy to find a niche or target audience.
As others have pointed out, trying to find a problem for the solution you have is the wrong approach. It is time-consuming and expensive. Over the last few years, I have been involved in a couple of these experiments, with varying levels of success. But if you have a solution already done, then you have to go through this exercise.
The first approach would be to sit down and write down 10-15 different use cases that can use the technology. Once you narrow it down to 5 or so, start talking a few people in each niche to see what are the issues in them and current players.
Another option is to create dummy websites for different niche markets. You can quickly clone landing pages for each niche. Start sending visitors to it using Google ads, if you don’t have a list. Once you get some leads, talk to each to get an idea of which market is looking for the right solution.
Good luck.
Finding the right niche for your OTT streaming startup is a crucial step in ensuring success. Here are some strategies to help you identify a niche that aligns with your app:
Audience Research: Understand your target audience and their preferences. Identify gaps or underserved areas in the current streaming market that resonate with your audience.
Passion and Expertise: Consider areas where you have a genuine passion or expertise. Catering to a niche that aligns with your interests can make your startup more authentic and appealing.
Demographic Focus: Narrow down your target audience based on demographics such as age, location, or interests. This can help tailor content and features to meet the specific needs of a particular group.
Unique Content: Offer unique and specialized content that may be overlooked by mainstream platforms. This could include niche genres, local content, or content catering to specific communities.
As you navigate this exciting phase, I found an informative article that delves into the costs and considerations of OTT app development. It might provide additional insights for your startup journey: https://www.cleveroad.com/blog/ott-app-development-cost/
Best of luck in finding the perfect niche for your OTT streaming startup! If you have any more questions or need further guidance, feel free to ask. 🚀
Related Questions
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How do you do market research?
Hi First of all, the fact that you are talking about market research ('validation') is great. I've seen so many startups invest time and money, only to find out later that no ones wants/needs their product, or that they only want a certain aspect of it (whilst the startup spent money developing a whole bunch of other features), or that they aren't willing to pay the requested price. So you're already one step ahead. Also, the sooner you validate your product, the better! The best ways to validate your idea is to see whether people are willing to actually pay for your product/service. The best way to get investors, is to show (1) that you are solving a need, (2) that you have traction, and (3) that the investors will get a nice return on their investment. As for methods of validation, here are the most efficient methods. 1. Check that people will actually buy/pay for the product. You can do this by setting up a Wix or Wordpress website (this can be done for free / very low costs). If your venture is a mobile app, then you can create what’s called a Clickable Prototype (“CP”) (a visual of the app in which the images change when you click on something - you can do so using the Apple Keynote tool or Microsoft PowerPoint). On the website, include the price of the product/service, and enable people to order it (YES, even if it doesn't really exist yet!). I am happy to explain how this can be done whilst still being fair to your potential customers (the people who click the "buy/download” button). 2. Determine your target market/customers. 3. Spend a small amount (say $100 - depending on your budget) on the most relevant platforms and promote your product/service - linking to the website that you created. This way, after only spending a very small amount, you will be able to know (if you did it right): a. Do people like your product. b. Do people want/need your product (not the same as 'a'). c. Are people willing to pay for your product? (not the same as 'b' - and this being the most important stage) d. How much they are willing to pay. (you can check this by having 2-3 landing pages with different prices on each). 2 last important points: a) In order to rule out external factors like an unattractive landing page or advertising campaign, and assuming you have the time, create multiple landing pages / advertising campaigns, with different designs. b) During the above process, don't forget to check how much it costs you for each user/customer that clicks the "buy" button. If for example each click on your promotion/advertisement costs you $2, and only every 10 people who click go on to the "buy" page - that means each sale is costing you $20. Then check what your average profit per sale is, and then you'll know if your service/product is worth pursuing (obviously there are additional factors like return customers, referrals etc, but you will get a good estimated/validation of the idea/business). Regarding questionnaires and talking with people, these methods are also very good, but it is crucial that you implement them correctly, otherwise your results might be misleading. I’ve successfully helped over 300 entrepreneurs and I’d be happy to help you. Doing validation correctly can save you a lot of time and money. Before the call, and in order to make the best of your time, please send me more information about your product/service and your target market. Best of luck!AB
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My direct competitor is growing fast, my start-up is still at an early stage. Do I need to cancel the initiative and try something new?
Even if your competitor continuously capitalizes on your ideas, by imitating your product features, etc., and even if he grows exponentially faster than you, it shouldn't intimidate you. Similar product, less money, whatever else, doesn't matter. Get awesomely creative with your marketing. Focus on the user experience and forget the competition. That's one thing no competitor can ever take away from you. And, the only thing you've got to mediate risk. I'd love to share more with you over a 15 minute call. I can guide you through getting a better understanding of your customers, and developing an awesome user experience, by moving beyond conventional marketing. Looking forward to it. AdrianAC
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How much time do you spend on google (or other search engine) when you are searching informations on a specific topic ?
As a tech marketer - I am always looking for the fastest, cheapest yet reliable research in order to create competitive intelligence internal documents, stats for blog posts, etc. Some people live by the "if it isn't on the first page, it doesn't matter" when it comes to leveraging search engines as a research tool. However, often when we are looking for value, we have to realize that anything REALLY worthwhile these days from a content perspective is typically gated behind a web form, or nestled inside a blog post. So, expect to spend a few hours in order to get through all the form gates, and also make sure you're using as specific and direct search terms as possible - then getting more generic if results are not ideal. Some other tips: -Have a few "burner" email addresses setup with gmail or hotmail, etc. - these allow you to get content when filling out forms to get White Papers, Reports, Case Studies, etc. without your primary inbox getting stuffed with marketing emails. -In the form fill process, if available put "student" or "researcher" as typically sales reps pass by these "leads" when the form gets dumped into the CRM queue. -Don't forget specialty search sites and tools like Wolfram Alpha for more "numbers" derived searches. -Also, like your question here - always seek the wisdom of crowds in addition to machine learning algorithms! Hope this is helpful! Search on!MS
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Other than appdata.com, where can I find download & revenue numbers of successful iOS apps?
I believe Appannie.com is what you are looking for.AC
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How do I do the right Market Research for a Product or App?
The best way to do validation on this idea would be to acquire customers through Facebook ads (rich targeting makes you able to cohort users nicely). Then, you could manually pair people via email or through a simple text messaging exchange facilitated by Twilio. In this scenario, you could prompt them to take the actions you think will be at the core of your app's functionality. Observing their engagement rate and what they do with each other would give you some insight into how viable this is. Happy to talk this through in a call with you. I've helped a lot of clarity members through similar customer development exercises.TW
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