Market Entry Strategy and Competitor Analysis for a Goal-Tracking Social Networking App

Market Saturation

The social networking app area is extremely competitive, with many apps all trying to accomplish the same objective. The client was finding it hard to identify differentiators that would make the app stand out in this saturated market.

Unclear Costs

The client did not know the operational and advertising costs needed to maintain the app competitive. Knowing these costs was important to determine if the project was financially viable in the long run.

Feature Alignment

The client was unclear on what features should form the core of the app and which could be differentiators that make it more attractive. Without proper guidance, building a balanced feature set was very challenging..

Market Dynamics

The client wanted to know about the behavior and preferences of the users in the goal-tracking app space to ensure that the features of the app are aligned with the needs of the target audience. It was, therefore, critical to understand market trends for success.

Development Uncertainty

There was an uncertainty of time, human resources, and general development among the client. Hence, in order to efficiently manage a project and bring it out on schedule, an elaborative plan was required to be undertaken.

Market Saturation

Initially, we identified and analyzed 15 competitive apps in the category of social networking, having more than 10,000 downloads. We focused on understanding key features, user bases, and USPs for each.

This analysis helped us distinguish between core features (e.g., goal tracking) and innovative features (e.g., smartwatch integration) that could give the app a competitive edge. This provided the client with a clear understanding of how to position the app in a saturated market.

Unclear Costs

We estimated the operational and advertising costs of the competitors by using public data. We were able to get a rough estimate of the monthly app support costs from competitors' offices, job vacancies, and salaries through LinkedIn.

We also tracked advertising traffic to the competitors' app store pages and estimated a rough estimate of the advertising budget required to compete. This gave the client valuable insight into the financial commitments required.

Feature Alignment

Competitor analysis showed fundamental features were in place, such as manual goal tracking, yet identified unique features, especially the integration with smart devices which met specific user needs.

As such, it guided the creation of a feature set that should not only meet user expectation but also make the app stand above its competitors. We translated these insights into a set of UI mockups that showed how the app would work and how users would engage with it, thereby providing an easy-to-use and competitive app design.

Market Dynamics

We ensured that the concept of the app aligned well with the ongoing trends regarding goal-tracking and social networking applications, as we monitored the most current trends on the field.

We analyzed the behavior and preferences of the users with emerging trends to provide a roadmap of developing features that would attract and engage them in a busy marketplace, thereby ensuring that the concept wasn't just relevant but also something that could differentiate itself in the market.

Development Uncertainty

To address the client's concerns over development timelines, requirements, and project stages, eSparkBiz developed a well-documented project roadmap outlining the entire development lifecycle as well-defined, manageable stages. These stages were clearly differentiated, and timelines were assigned along with clear roles and responsibilities for the entire project team.