Using a wireframing tool to build a mobile wireframe or app prototype can be the key to a getting buy-in from investors for your mobile app.
According to Yahoo Flurry, consumers spend more than 90% of their mobile time using apps.Every month around 60,000 apps are added to the App store, but around 59% of those won’t generate enough revenue to break even on investment, says App Promo’s Annual Developer Survey. It’s safe to say that the mobile app market is one of the most competitive around.
In this kind of competitive environment, a well planned mobile app development process is a cornerstone of success. It’s vital to anticipate everything correctly before coding starts, from the business plan and mobile wireframes to user experience and usability.
Potential investors are more likely to take your app seriously if it’s already validated and user-tested, and they can try it out for themselves before handing over their cash.
Selling apps to future investors – the challenges
Selling an as-yet undeveloped app to investors is tough, and inexperienced product managers often struggle. Investors and the product team come to the table with very different goals and expectations; if the product team don’t put themselves in the investor’s shoes, miscommunication can arise.
It’s tempting for product teams to try to impress by presenting an aesthetically perfect prototype but neglecting functionality; or by presenting tons of different app design options and confusing the investors as to what the design solution actually is. Product teams can also be let down by their presenting skills, or the tools they use to show off their work.
A wireframing tool can help teams avoid these mistakes and sell their app ideas like pros, armed with nothing more than an app wireframe.
Find investors before app development gets under way
A mobile app wireframe can be very useful when you’re actively looking for investments to develop a project. Once a first app wireframe or functional prototype is done in a wireframing tool, you can approach potential investors and stakeholders showing them a concrete draft of your project.
If you’re using an advanced wireframing software like Justinmind, you can share app wireframes with potential investors through a simple sharing URL. There’s no need to ask them to take time out of their schedule or to travel to a presentation – with the sharing link they have access to the functional wireframe on any device or browser. You get your foot in the door and start the sales process painlessly.
Use an app wireframe to stay focused in investor meetings
Having only a basic mobile wireframe with you in the investor meeting will ensure that you’re not tempted to do a walk-through of every visual feature on the app interface. For investors, at this stage aesthetic is a secondary concern: they want to know what functionality the app will have. A mobile wireframe is basic enough to focus you on performance, functions and whether this design will help investors meet their business goals.
Validate your app with users and bring the proof to investors
Investors want assurance that your app design meets a user need effectively and, in the process, provides great user experiences. It’s hard to provide that kind of assurance at initial investors meetings as the app is yet to be built. How can you prove your idea is user-centric?
Wireframing tools provide a great opportunity to integrate early stage user testing into the app design process. You can use click-through wireframes to test information architecture and navigation flows with small groups of target users, and even start integrating realistic content in wireframes.
Early stage user testing on wireframes is also a great way to start weeding out bugs. Iterate on the first round of wireframes according to the results of user tests and surveys, then present the polished wireframes and the results of the user tests to investors. They’ll be more confident that they’re dealing with an app that meets a specific user need and has been validated by the target market.
Find out how to test your wireframes on users here
How to sell an app with a mobile wireframe – the takeaway
Mobile app wireframes don’t have to be restricted to design team brainstorms. They may be simple and quick to mock-up, but wireframes can a powerful tool when selling an app design to potential investors. With the right wireframing tool, teams can build mobile wireframes that show off functionality, validate market demand and user experience, and help investors see the true potential of the app.