Five Tips To Successfully Pitch A Mobile App Idea To Investors 

Times have certainly changed. Let’s face it. We live in a world where we are simply unable to function without our mobile phones. According to Data Portal, there are approximately 5.32 billion unique mobile users in the world. There are, on average, over 80 applications installed on each of these mobile phones, per the website Build Fire. If you take a second to do the math, that’s 425.6 billion chances to get your application out into the public eye. So, how do you secure the financial backing that is necessary to turn your vision into a reality?

Here are five essential steps you can take to successfully pitch your mobile app idea to potential investors:

1. Be aware of your app’s niche or target audience.
2. Make sure that your app has a unique brand.
3. Spend as much time as necessary to develop your elevator pitch.
4. Create a pitch deck that will wow potential investors.
5. Make your app accessible and tangible to investors by creating a demo.

The mobile world we live in has opened up seemingly endless possibilities to turn your vision into a reality. However, there are a plethora of ideas for unique, useful, and fun applications that may never get the chance to materialize because their creators were not able to gain much-needed financial support. By reading through these five steps you can become more comfortable in pitching your app idea to investors, which will make it possible to turn your vision into a reality. 

Be Aware of Your App’s Niche or Target Audience 

Whether you are creating an app or opening a restaurant, the first step you should take is to find your niche. Knowing that you can’t do everything or compete with everyone is necessary for maintaining focus and finding a specific want or need that your product can fill. This is especially true when it comes to designing and creating apps, as well as obtaining financial backing for your app. Investors will want to know what your app does, and why it does it before deciding whether or not they will invest in your creation. 

The second step in any business is knowing your target audience. This also applies not only to create an app but also to securing investors to provide you with much-needed financial support. Before deciding to invest in your app, potential investors will want to know who you are targeting. Why is this so important? Knowing your target audience gives investors a basic idea of what type of returns they can expect. These expectations are based on the demographics of the people you are targeting, such as disposable income and age.

Make Sure That Your App Has a Unique Brand 

Now that you have a niche and have identified your target audience, it’s time to give your app a brand. You are probably wondering why you need to have a brand. After all, you design apps, not clothing or sneakers. Per Forbes, your brand allows you to build a relationship with your target audience, which will turn them into loyal customers. If your goal is to get the attention of potential investors, showing them that your app has the potential to gain a loyal following would be a great place to start.

Another benefit to establishing a unique brand for your app is that it has the potential to set you apart from your competition. Your investors will undoubtedly want to know what sets you apart from everybody else. In a world filled with literally billions of apps, what makes yours unique? Why would people choose to purchase your app when there are hundreds or thousands of apps that serve the same purpose? Your brand is what makes people identify with you, and want to purchase your product.

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Take Time To Develop Your Elevator Pitch 

I know. Two questions that immediately come to mind are “What is an elevator pitch,” and “Why do you need one?” Let’s take a look at the definition of an elevator pitch. First and foremost, an elevator pitch should be brief and to the point. Keep in mind that you are trying to make an immediate impact with your elevator pitch, and try to keep it around 30 seconds long. The purpose of an elevator pitch is to get one or two key points across to your investors and make an immediate connection with them. This is going to take some practice on your part, but the impression you make on your investors will be worth it.

Now that you know what an elevator pitch is, let’s take a closer look at why having a good one is so important. Investors hear several pitches a day. When it comes to where they choose to invest their money, they have several options. You need to set yourself apart from the competition and make a lasting impression if you want them to invest in your app. One of the most effective ways of doing this is by not wasting their time. Let them know who you are, what you do, and why they should invest in your product. Show them that you value their time just as much as you value their financial backing.

Wow Potential Investors With Your Pitch Deck 

Once you have created your elevator pitch, you are going to have to present it to your potential investors. A good pitch deck is a great way to wow investors and make them believe in you and your app. Again, you are probably wondering what a pitch deck is, and how can you create one. Well, a pitch deck is a brief presentation that is usually created by using PowerPoint and is also a visual aid to use as a companion to your elevator pitch. A pitch deck provides visual references that you can use to take the attention of your investors. Remember, people, respond to things they can visualize.

So, now that you know what a pitch deck is, let’s take a look at the key elements that should be included in a good pitch deck. First and foremost, your presentation should have an introduction. Next, you should introduce your team. Third, identify the problem you are trying to solve. After this, show what sets your solution apart and makes you special. Next, introduce your product and show your investors the target audience you plan to serve. Now you can show your investors why your app is better than alternative apps that serve the same purpose. The next step is letting your investors know your budget and how much you need them to invest. Finally, provide your investors with contact details on how they can reach you quickly.

Create a Demo of Your App

Now that you have the attention of your potential investors, the next step is to make them want to invest in your product. You may be asking yourself, “How do I do that?” I have always found that the best way to accomplish this is to give them exactly what they want. What do investors want, though? In my experience, before deciding to invest in something, people want to be able to see exactly what they are getting for their money. While it may be true that people like to invest in ideas, they also want to see where their money is going. 

Having a good demo of your app is a highly effective way to make potential investors want to hack your product. While most people will understand that your demo will not be a perfect representation of the final product, a good demo will paint a clearer picture of what your investors can expect from you and your app. Sure, your demo might be a little rough around the edges. However, your investors will appreciate the fact that you took the time to show them how your app works, and what it is meant to do. 

Conclusion

As we have previously read in this article, there are billions and billions of opportunities to put your app into the hands of mobile users around the world. Unfortunately, most great ideas may never materialize because most creators were unable to gain the financial backing of investors that was necessary to turn their ideas into reality. The last thing that I would want for any of you is to miss this chance because you simply did not know where to start.

The first step to gaining investors for your app is to know your target audience. Once you know who you are targeting your app toward, brand your app accordingly. Next, take the time to develop your elevator pitch to potential investors oh, and then wow them with your pitch deck. Finally, turn your idea into a concrete reality for investors by creating a demo or an MVP of your app. By following these steps, you now have the chance to wow potential investors and put your application into the hands of mobile users everywhere. 

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Frequently Asked Questions

On average, how much does it cost to create an application?

While several factors go into determining how much it will cost to create an application, the average cost for simple app production is between $40,000 and $60,000. However, the high end of creating an app can be around $175,000, regardless of the platform.

Which is better, creating an iPhone app or an Android app?

Due to the many different models of Android phones, it is usually much more time-consuming to create an app for Androids rather than for iPhones. Because of quality assurance and development, it is also usually more expensive to create an app for the Android platform. Android users also tend to spend less money on applications than iPhone users.

To learn more on how to plan your own mobile app business click here!

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