The app market is expanding at an exponential rate. New apps keep entering, and the established ones are racing to the top charts. To maneuver the growing challenges and stay in a business, competitor analysis is vital.
If you are unsure about your competition and its motives, you will soon fall behind and lose your app visibility. Read further to understand the considerable key factors you need to consider when analyzing your competitors.
Find your competitors.
The first step is to find apps similar to yours that are performing well. This is a crucial step because finding the right competitors helps you improve but failing is similar to fighting a lost match. The first step is finding well performing apps similar with you. Once you find some of those, you get a chance to understand what you need to come up with app competitor analysis.
Your competitors are:
- Apps that belong to the same niche segment or category as yours.
- You and your competitor share a similar target subscriber with them.
- Their app outcomes have some fundamental resemblance similar with yours.
- You find these apps in the search results for related the same keywords.
To analyze better, you can use the competitor analysis tools in the market that assist you in identifying and recommending competitors based on search results, top-ranked, and using relevant keywords.
Review the competitor’s category ranking.
From the app store category ranking, you will get an overview of the performing and non-performing apps in the same category. You can then focus on the high-ranked apps and begin your competitor analysis. The market trends never lie about their favorite players. Therefore, analyzing the big players and their strategies can render insight regarding how to get your app ahead.
Track your competitor’s app store ranking.
The app store ranking is essential to consider in your competitor analysis. Apps are ranked in the app store result page search results based on the relevant and popular keywords used. You will have to track the keywords that boost their ranking for a well-ranked competitor. You can collect the set of relevant keywords to optimize your app’s keyword search. In addition to improvising your app’s keywords, you will also understand better the common and popular words used by the app store visitors to search for apps like yours. to choose generic and relevant keywords. Do not use the competitor’s brand name as your keyword and risk being rejected by the app stores.
Find the keywords in your competitor’s ads.
A major part of the answers to your competitor analysis comes from monitoring your competitor’s advertising strategies. You will better understand choosing performing keywords by considering their ad strategy factor. You can determine the:
- The amount spent by your competitors on user acquisition (UA) campaigns.
- The theme or techniques used in the competitor’s UA campaigns.
- Find out if your brand name is being tarnished or used in an undue manner. An aggressive UA campaign might use your brand name to optimize its search results.
There are tools in the market that inspect and tell you every keyword an app uses to run ads and the respective share of voice (SOV).
Analyze your competitor’s strengths and weaknesses.
- Checking the strengths and weaknesses of your competitors is essential for your competitor analysis.
- You will know the competitor’s unique selling points and core functions by checking their app’s visuals and description.
- Similarly, reading your competitor’s reviews and responses will give you an overview of the user’s impression, fallbacks, and pending app updates.
- You can use these points to improvise your app’s functionality and maintain a good rating.
To conduct an effective app competitor analysis, you will need to know who your competitors are, their app store ranking, and their performance. Tracking your competitor’s well-performing keywords and checking their campaign strategies are equally important to optimize your app better.
Once you identify your competitor’s strengths and weaknesses, you can mark them as your key learnings. Checking regularly your competitor app’s user reviews and feedback will also give you insights about the target audience.