Typically, those looking for a way to sell an app idea fall into two categories: some have an idea, others… not just an idea. Here are a number of valuable tips to help both.
How to sell an app idea if…
Option 1. You only have an idea.
This is often encountered at the beginning of the journey: you’ve come up with a cool app that’s unlike anything else on the storerooms, but you don’t have the funds to publish the product. “We have to find an investor,” you decide… But before they’ll be interested in you, you have to at least make the “idea” compelling. What does that mean? Your idea must have a clear plan with calculations, a promotion strategy, a marketing analysis and so on. If you are a lonely hero, then you have to master this yourself. If you have a team, the work will be easier.
What you need to take into account:
Present your idea as a step-by-step plan. Think about how much each step will cost. Investors think in terms of budgets;
Within what time frame you’ll be able to release. This shows how “hot” your product is to sell;
Identify your main competitors from your intended niche and the marketability of their products. Keep in mind that your application should stand out from them.
Calculate how much money will be needed for the initial promotion;
estimate the possible profit.
All the points seem obvious, but without them your “idea” is a bubble. Do not take estimates “out of my head”: there are plenty of articles on the Internet about how to plan budgets.
Option 2: Idea in progress.
Of course, this option is preferable, but it is also not a guarantee that you will be noticed. It is important to convince the potential buyer that the application has prospects. So, here we will operate primarily with the available facts:
demonstrate the degree of product development;
emphasize the professionalism of your team. You can list the products already implemented or specify the experience and skills of individual participants. This way, you will show that there are no obstacles on your side to the realization of the idea;
Explain the value of your product. To do this, walk through its functions in detail, compare the development to competitive applications, talk about the difference with the releases available on the market;
if there are any special “items of pride”, such as unique creatives or innovative features, put a special emphasis on them;
Specify the audience you’re targeting. Provide a clear “buyer’s portrait;
Tell how you plan to promote your app. List the main strategies based on your defined target audience;
give a detailed justification of the amount you are asking for for a full implementation.
In the pitching preparation phase, developers often find mistakes or flaws. Now’s the time to fix them! Your application (as it currently exists) should look flawless.
Very often, newbies in negotiations skip the stage related to promotion, thinking that a cool investor will do everything for them: because he knows incomparably better about it! This is a trap: If you don’t know marketing strategies at all and have no idea of the channels through which information will be distributed, the product “hangs up” outside the market, and therefore risks remaining at the idea stage. Explore the most convenient ways for your app and spread the word.
You can request a budget for additional specialists (for example, the same marketer) if there are not enough of them in the team. This is a good and correct move. In general, list all the things you lack for the final implementation.