Business
India is the world’s fastest-growing app market but it is also a competitive and fragmented market. Only a few companies have been able to scale and achieve repeated consumer engagement while solving a problem. Companies spent nearly $1.14 billion on mobile advertising to drive app installs in 2019. But nearly 77% of users uninstall the apps they installed within the first day and only 2.6% of users stick to the app even after 30 days, according to data from AppsFlyer. Image: Retention rates of apps downloaded in India. Full report by AppsFlyer here.So what goes into making a successful app for the Indian market? Our guest on the show this week as part of the Product Management series, Deepak Abbot, gives a masterclass on this topic! Deepak was until recently the Senior Vice President at Paytm where he was responsible for products and growth and he shares some very deep insights into the Indian appspace (see timestamp below).???As a BONUS for our paying subscribers on the show, Deepak gives a video presentation on app development and growth hacking as the second part of the podcast. In the presentation, he shares some benchmarking data and insights that are specific to India. He also walks us through the different stages in the lifecycle of an app and the tasks a product manager should take on at each stage. It is truly a masterclass! The video can be accessed through this link. If you haven’t subscribed yet, you could do so below and get access to all exclusive subscriber content for a year! Prices go up next week. ?You could listen to the show on your browser or Apple podcasts, Spotify, Google Podcasts, other podcast apps. If you like it, please give us a review on your podcast app, or show us some love by clicking on the heart button below the title. TIMESTAMP [for public content]0:00= Episode structure, bonus content announcement, setting the tone3:00= Nature of India’s app market- characteristics, size, peculiar user download behaviours, calendar trends, average monthly statistics7:00= Product design to grab the attention of the Indian user9:55= Starting point for building an app, how to choose a platform?12:00= Resource management and product development planning 14:00= Key points to always keep in mind while launching an app in India17:15= Different stages of the app life cycle, measuring performance and growth hacking for the Indian market, incentivising users, App Store Optimisation, launching an app and more22:15= Early customer ratings and recent changes in Playstore’s rating mechanisms25:50= Pre-launch app stage - tools to use, PR and other things to note 31:00= Privacy and app permissions - a double-edged sword; How Paytm asks for permissions36:00= When to raise capital, how would Deepak think about raising capital39:00= Powerpoint presentation on growth hacking for paying subscribers Here’s what’s in the video for paying subscribers?What the classic app funnel looks like?Measure the right metrics: be paranoid about the 1%?Benchmarks in different segments like games, business, e-commerce?Tips, tools and techniques to measure, retain and grow your app usersWe really appreciate your support and hope to bring you much more in 2020 from the best minds out there in the Indian startup ecosystem. See you all on the other side!Happy new year! ?Best,JPK and Ravish Get full access to Turnaround at turnaround.substack.com/subscribe