The increasing popularity of apps has paved the way for businesses to expand their revenue and gain immense visibility by launching their mobile applications. However, pitching an app idea to your investors is an art, and you require robust, pursuable strategies rather than just a cookie-cutter pitch deck.
Whether you are a B2B or B2C company, mobile app development is one of the best strategies to drive market growth by giving your clients and customers a seamless and enhanced user experience. Statistics show that around 90% of customers prefer to use an app rather than visit the company website on their phones. However, a powerful pitch is important for the same.
You might have a strong idea of your brand’s mobile app, but you require a strong strategy to approach and attract investors to fund the development process. This guide provides tips that you can incorporate into your strategy to pitch your app idea to investors like never before.
In this blog
- Why pitching your mobile app idea is important?
- 7 successful tips to pitch your app ideas like a professional
- Highlight your vision and mission
- Customize the pitch according to the investor
- Identify the decision-makers
- Focus on solving user frustrations and pain points
- Paint a clear picture of the project
- Create a realistic timeline
- Learn from unsuccessful pitches
Why pitching your mobile app idea is important?
As per Data.ai reports, consumers all over the world spend around 3-5 hours every day using mobile apps. It is the best time to invest in mobile app development because mobile apps keep customers engaged and content. Apps offer a personalized and seamless experience with features like push notifications and loyalty programs.
For example, Amazon’s mobile app resulted in a 35% boost in sales by providing personalized recommendations. It proves that mobile apps boost customer retention rates as they offer convenient access to products and services.
However, the process of mobile app development and marketing is not so simple and straightforward. There are millions of apps in the app stores and the competition is getting stronger each day. It is not easy for apps to survive in a competitive market with a laid-back approach.
One must have a strong app idea and outline that is validated. It allows app owners or developers to attract and ensemble the right resources and partners for the product. It further enables multiple stakeholders to get on the same page and agree on the potential idea and purpose of the app.
Moreover, every app owner needs funds and investments to develop a full-fledged product and promote it in the market. This is where the need for a robust and promising pitch comes into play. To gain the investors’ trust in your project, you must have a pitch that clearly establishes the value proposition and potential of the app.
Suggested Read: Developing app ideas: How to ensure an app idea is viable?
7 successful tips to pitch your app idea like professionals
It is essential to master the science of pitching an app idea. The right pitch can put your project in the fast lane and increase its potential and success rate. Above all, it can enable you to get the desired funding and support for your mobile app.
Here are some tips that you can follow to strengthen your mobile app pitch:
Highlight your vision and mission
The client you are trying to pitch may not be aware of your industry trends. You need to be very clear when promoting your app to your clients and stakeholders. To understand the growth potential of the app, your client needs to understand your vision fully. Once you have the right vision of your brand, they will be more interested in your idea. That’s why when you’re pitching your brand, you need to describe your vision very precisely. Create an elaborate vision and mission statement and be clear about your app’s purpose and goal.
Customize the pitch according to the investor
A big mistake that agencies always make is to use the same pitch for every client. Sure, it’s easier, but it doesn’t get you anywhere. In fact, if you are pitching the idea to a customer, your demo should align with their goals. On the other hand, if you are seeking investment for your own app, your pitch should be capable of establishing and outlining the prospects of the app.
Here is how you can make your pitches more personal and specific:
- Customize the pitches based on the targeted investor. If you have worked with a similar company in the past, list the goals and KPIs you already considered. Use real numbers to explain how your company aligns with the investors’ goals and add a personal touch.
- Research and create in-depth pitches for your clients. Remember, it is always profitable to create highly researched pitches for clients rather than developing one pitch and using it on 100 clients.
- Don’t make assumptions. Not all businesses want to hear about the app monetization prospects. Some companies focus on things like customer loyalty and retention. You should know which angle is going to work best in each scenario.
Additionally, you also need to be prepared to meet clients who do not have a clear understanding of your goals. In these cases, you can help determine the direction before presenting an in-depth application idea.
Identify thе dеcision makеrs
To successfully pitch your app idea, you must first find the right people. Identify thе dеcision makеrs and know how to contact thеm. Kееp the following things in mind when you pitch your app idеa to the influential dеcision makеrs:
- Conduct proper market research and identify the investors who align with your brand goals and ideas. It will be easier to attract them and get them engaged in your app idea.
- Direct communication is thе bеst way to connеct with thе right pеoplе in any organization. Have a clear, transparent, and straightforward approach when pitching your app idea.
- It’s еasiеr if you invitе clients you alrеady have a rеlationship with. Your presentation or pitch deck must be impressive enough to reach each of these positions, including the CTO, CEO, CFO, VP, and other decision-makers.
Note that in most small businesses, the owner is always the decision-maker. So, be clear about what you want and move ahead with a clear goal and strategy.
Focus on solving user frustrations and pain point
Focusing your entire pitch on features might not be a great idea. It should consider a multitude of related factors. For instance, how the mobile app will help the client’s business. Focus on one or two key features that align with the client’s business goals and how they can solve the customers’ pain points. For example, if one of your clients is facing problems in improving customer experience, you should suggest how a mobile app can assist in overcoming the problem. Your pitch can include a referral program and a customer loyalty program that can improve customer experience. However, if there is a pitch for an HR mobile app, then the pitch would be different. That’s why, research is a crucial part when it comes to pitching an app idea.
Paint a clear picture of the project
Mobile app pitch decks are essentially virtual. It’s difficult for customers to focus on your ideas if they can’t see or feel them. So, your job is to show them how your app looks, feels and works. The following steps are necessary for ensuring a successful pitch for an app idea:
- Develop a quick demo or illustration of an application that you can use during your pitch.
- Include the core components of the app in the wireframe or prototype.
- Use statistics and real-world examples to back your pitch.
- If other customers have benefitted from your apps in the past, you can use that as proof to validate the prospects of your new app project.
Suggested Read: What is App Prototyping? A guide for beginners
Create a realistic timeline
Some stakeholders might still have questions after your pitch. However, if you prepare and provide enough information, there will be no surprises. The most common question customers ask is “How much money and time will you take?”. Here’s how you can address such queries with confidence:
- During the presentation, you should prеparе a roadmap and schеdulе for app development.
- You don’t know еxactly what fеaturеs your customеr wants to incorporate so don’t declare datе in your timеlinе. Instеad, illustrate as per thе standard app development procеss.
- Thеrе аrе sеvеrаl ways to create an app dеpеnding on your businеss model. This includes all kinds of app frameworks and types. Discuss the preferred and suitable options with your clients during your proposal.
- Explain that the more features you add, the longer the dеvеlopmеnt process will take. So, it’s best to work on the core features first, and increase the list as the app scales and grows.
- Be transparent about the timeline and cost of app development. Offer a detailed breakup of the logistics and get the client to agree upon the same.
Learn from unsuccessful pitches
Do your research and study about failed applications and pitches. Also, learn from your own past mistakes and analyze the cause of the failure. Use it as a learning and steer clear of things that can weaken your pitch. While the process may still go through some trials and errors, you can avoid huge pitfalls and hazards by being alert and cautious. Similarly, you can use successful examples as an inspiration and incorporate similar ideas and concepts in your own pitch.
Pitching a new mobile app business isn’t easy. Therefore, it is important to focus on your core value areas. Having the right resources can help you strengthen your pitch and earn the desired results. For example, you can create an aesthetic and interactive app prototype that encapsulates your app idea and paints a clear picture of your app’s purpose and goals.
AppMySite can help you with the same. Here, you can create your own app in minutes and share the product idea with your stakeholders. Simply create an account on AppMySite and start designing and building your app with our easy no-code tools. The platform is suitable for beginners as well as commercial developers and enterprises.
Anyone can create an app here and go on to publish it on the Google Play Store and Apple App Store. You can also invite your colleagues, clients, and stakeholders to collaborate on your app project. Once your idea is validated and approved, you can scale your app as desired. Create multiple apps for all kinds of goals and go from app idea to market in no time.
Frequently asked questions
How do you write a good pitch for your mobile app idea?
A good pitch should be concise and capture the vision and purpose of your app. It always includes a mission statement that explains why your app exists, why investors should be interested in your business idea, what you hope to achieve with their investment, and what you expect in the long run. Add an app overview and clearly define the app’s purpose and target audience. You can also include your monetization and engagement strategies and include an outline of your app’s journey and growth.
What is the purpose of pitching an app?
The purpose of pitching an app is to communicate its potent idea, purpose, and value proposition to the stakeholders and investors.
What are the essential elements of a pitch?
A pitch consists of several essential elements. This includes the Problem statement: What problem will the app solve; Solution: How will your app solve the issue; Market specifications: What are the current trends of the market and how will you target it; Forecast: What are the growth prospects of the app; Call to Action: What action does the pitch inspire; and so on. You can tailor your pitch based on your specific needs and goals.