For making your application stand out in the competition, there is a requirement for money or investment. If you are having an application idea that is worth investing in, you should pitch your application idea to a potential investor. But unfortunately, there are less than 1% of startups get venture capital investments. By funding your startups, you can increase your chances of success and ensure good competition in the market. To increase the chances of your startup funding options, it’s important to explore various startup options in the market. Exploring various startup funding options can increase your chances of securing the necessary investment.
Now the question comes, how to get among that 1% of the startups. For getting among that 1%, you don’t only require a viable idea, but there is a requirement for a skilled team and an entrepreneurial mindset, and also great ambitions, are required to strike the presentation, to get yourself added to the list of the great and successful entrepreneurs. And above all, you should have the knowledge to pitch your application idea to investors, with the aim of not only winning the attention of the investors but get your business invested also.
How To Pitch Your Application Idea To Investors
In this section of the article, we are going to discuss the steps which you need to follow in order to pitch your application idea to different investors. In order to pitch your mobile application idea, start with finding the right application investors, who are willing to invest money in your ideas. It is important to remember that, that fundraising for startups is a process, and you may need to pitch to multiple investors before you secure funding. Depending on the business stage you can go with the right option for fundraising for startup.
1. Finding the right investors for your mobile application
In order to pitch your application idea, you need to first start by finding investors within your industry, who are interested to invest money in your application idea, at the early stage. It is important to remember that fundraising for startups is a crucial aspect of pitching your mobile application idea, and it is essential to have a clear understanding of your funding needs and options when reaching out to potential investors. Fundraising for startup requires a perfect plan and knowing the correct use of using your funds to raise your startup. A few ways in getting through them are as follows,
- Start with using your industry contacts, you will be easily able to find someone who is the part of investor network. So using a professional network to go ahead, is the way to finding the right investors. Keep in touch with all your industry contacts and have regular meetings to discuss your ideas regarding the application ideas and your startup funding needs.
- Another popular way to pitch your investors is using crowdfunding platforms, where it is very easy to find investors and pitch your application ideas there. There are a number of crowdfunding platforms, that are currently used by the investors such as Kickstarter and GoFundMe. Also, you can go with many other varied options in crowdfunding to get options in finding investors.
- Approaching angel investor networks, that are available in many varied industries at present. Find out about the investors in the local community who keep on investing, in mobile application development ideas, and finalize your list accordingly.
- Using other popular online platforms such as LinkedIn and AngelList. By using these platforms and updating your profile regularly you can get in touch with potential investors who are willing to invest in your application ideas. Not only this these profiles can also help you to get many other such opportunities.
- Make yourself to be a part of some startup programs and some accelerator programs in order to find new investors for your business. Finding new investors will also give you many opportunities to discover and make use of many good and new opportunities for your business. Being up-to-date with the continuous and fast world is equally important. Participating in startup programs and accelerator programmes can also help you gain access to startup fundings.
By following the above-mentioned points and getting your business the right investor you can help your mobile application. And having the right investor for your mobile application development can help your business grow to another level. By exploring various startup funding options you can increase your chance of getting the right investor for your mobile application development. Fundraising your startup at the forefront of your mind as you pitch your mobile application ideas to investors.
2. Defining how your application solves the problems
It is important to get ready with your product’s USP before you go and present your ideas in front of the investor. You also need to define how your application will solve the problem of the targeted audience. For achieving this, you are required to give some time in defining the benefits of your application to your target users. It is also essential to consider startup funding options and define how the funding will be used to develop and scale the applications, as well as the potential returns for investors.
- Identify your target market and get a clear image of the problems that they are facing. This is a very important step that you need to take in order to understand all the problems of your users and figure out all the possible solutions for the same. The demographics that you can use to define your target audience are age, gender, occupation, location, marital status, education, and many more.
- Know who your target audience is, and based on the demographics get a clear understanding of your target audience. Once you get to know who your target audience is you can learn about the challenges that they are facing. You can have some regular poll questions, in order to get updated about their status and the issues. And the best platform is using different social media platforms to get knowledge about your target audience.
- Analyze the problem of your target audience. Get a full chart in which you will define your target audience problems and get to know if this problem is faced by the maximum target users or if there are only a few people who are facing this problem. You can set the parameter like how often are these problems faced, what are the causes of the problems, how are the people being affected by these problems, and has anyone from the population who has been facing these problems tried to solve them.
3. Gather data about the market
If you want to successfully pitch your application idea, it is important to have a deep understanding of the latest trends in the market, the size of the market, and the requirement of the customers. By getting the information for this you can get an idea of whether your product has a position in the market or not. The information that you need to look for to gather data about the market is, considering startup funding options and understanding how they will support your market and help to generate profit for your market. Considering startup funding options and understanding how they will support your market.
- The size of the current market. According to the resources that you have what is the size of the market and how much it can reach its, potential users? Also, you need to keep an eye on the growth of the market in recent years, and where has the market been placed from the past year’s data.
- Creating a successful market campaign is also very essential for this as you need to have good market strategies and you need to implement these strategies appropriately in order to get success in your campaign. And at the end of the campaign, the success will be measured by that how many potential users were able to reach your market after the campaign.
- The estimated revenue that will be generated on your project. Before you start with your project it is important to have a knowledge of the amount that you are going to spend on your business. Investors want to have the knowledge that the investment that they have made will in return be profitable for them or not, whether will they be able to generate profit out of it or not.
- What is the amount of money that you are looking to invest in acquiring the new user? For acquiring a new user you need to spend some amount of money on it, and as a funder, you need to know that will that person in return make your investment double or will decrease it, which means that will that person be able to generate profit for your business and return the more to the business that they have invested on him/her.
- There should be an estimated number of potential users that will be using your application. This is important to notice because sometimes your application is set to be used for a particular user at a time, and if there are more users who are using your application then your application’s server shuts down automatically, and the site automatically goes on the server down the error. So there should be a set estimated number of potential users who genuinely need the usage of the application on priority.
4. Know the competition for your business
To get knowledge about the competition of your business there is a need to conduct competitive analysis on the regular basis. In this analysis, you are required to find the strengths and weaknesses of your competitor, and the points where they are stronger than you so that you can work on them. In this process, you are required to conduct the mobile application analysis at every single small step of your mobile application development, so that your application becomes free from eros and at the end, you receive a complete application. However, it is crucial to explore and identify the most suitable fundraising for startup to support your mobile application development goals.
- Keep an understanding of what you are doing and offering to your users. This means that you should be aware of the fact that the best you will provide to your customers, and the more satisfied they will be with your services, the more will be the profit you will be able to generate. The users will be attracted to your offer if it will be of their benefit and most importantly it will be fresh in the market.
- Keep an eye on your competitors and know the points where they are lacking so that you can cop up there are serve best to your audience. You need to act smart here and convert the weaknesses of your competitor into the strengths of your businesses. Problems are there in every single application as the feature one application will not be having will be available in the other one. You just need to have an eye on the customer’s requirements and the latest trends and then work accordingly.
- Make sure that you have a proper plan drafted before you execute your mobile application idea. Your idea should have some USP which means that there should be some unique points in your application that are not available in any other application so that the audience is attracted to your product.
- Understand the business model properly and have a clear image of what your business wants to serve its target audience. You need to have some brilliant marketing strategies in order to gain the attention of your customers. Having strategies that no other business plan is having automatically attracts the audience’s attention toward your business. A good business model not only focuses on solving the issues of its customers but also focuses on giving its customers some new ideas that are helpful for them.
- The last one, but the major point is finding out which revenue model your competitor is using so that you can work on the more advanced mode and present it to your target audience. Revenue is a crucial component in any business aspect, and getting funded by the appropriate fundraiser can help your business make a good image and thus will be beneficial in generating more revenue and profit for your organization.
5. Finalizing the monetization strategy
Impressing the investors is a very important and difficult task and it is important to make them believe in your ideas. When an investor believes in your business idea, then he will start investing in your business and your investor would also need some type of assurance that your business will be in profit in the coming time. When you are ready with the monetization of your strategy, only the above-mentioned things can happen. It is also important to consider startup funding options and how they can support your mobile application development goals.
- Paid monetization model is where you will be charging your users to download the mobile application. It is a very simple process of making money. But this is not at all simple. According to some reports, 93.9% of the applications, in the application store are available for free for the users, and 97% of the mobile applications are available for android users.
- It is important to convenience potential users by explaining the worth and potential for downloading and purchasing your application. Above all, you need to have a loyal user base for the same, in which the users are more likely to download applications that are free of any kind of payment.
- For creating a pitch desk you need to ensure the following points, such as the introduction, team, problem, competition, product, market, revenue model, investing, and contact. It is also important to include information about startup funding options in your pitch deck. Including information about startup funding options in your pitch desk can show investors that you have done your research.
- There are a number of different ways in which you can make money for your application. You need to have a proper pitch desk in order to attract customers. But before this, you need to make sure that your pitch desk matches the stage of funding that you are looking for, such as seed funding, series A, and so on. Your pitch deck should match the stage of your startup funding that you are looking for.
Pitching application ideas to the funders can be a challenging task, but it is essential for securing funding and launching successful projects. To increase the chance of getting funded it is important to have a clear understanding of the problem and how will the application be able to solve the problem, and also will be providing unique solutions for the same. Additionally, having a strong pitch desk is equally important as funding your startups is, which will include a compiling story, a clear value proportion, and a market analysis.
Overall, pitching application ideas to funders is a combination of art and science that requires thorough preparations, effective communication, and persistence. With the right approach and mindset, getting funded can be a reality for aspiring entrepreneurs and innovators. It is also important to remember that fundraising your startup is a crucial aspect of pitching application ideas to funders. Fundraising for startup is an essential part of the process of pitching application ideas to funders.