The business of mobile application and software development has experienced a boom in the past couple of years. The field of app development has emerged as a very lucrative and innovative field. The amount of idea and products floating about in the market is absolutely revolutionary. The story of small startups developing key apps that then get valued at billions of dollars has captured everybody’s imagination! As a result, more and more startups are trying to create the next big app that would break the internet.
Why is it important to build a Mobile app?
The scope for innovation in mobile app development is wide. Startups especially are focusing on creating new apps that help with various aspects of life. There is a space for app development in every field – education, sports, fitness, health, fashion, lifestyle, travel, accounting, etc. Companies are also sponsoring customized apps that improve the productivity and efficiency of their firms.
Why do you need to validate your assumptions before building an app?
However, app development is a very expensive process especially when marketing and bug fixing is added to the mix. Along with this, the competition in the business is quite stiff. Millions of apps fail every year because of severe competition, inferior marketing and a lack of demand for the product. Startups need to be very careful regarding the demand and the target audience for a specific app. You might want to create your own app based on a fantastic brainwave, but it can still fail to make an impression in the market. It would be a foolish gamble to create an app merely based on your own perceptions of market requirements. It is necessary to validate your idea by getting feedback from potential customers at the very beginning of the developmental phase. An MVP app is the most effective way to validate your final product.
What does an MVP mean?
“An MVP is a down payment on a larger vision.” — Johnny Holland
The MVP or the Minimal Viable Product of an app contains only its basic features or the barest elements of the final product. The MVP is launched to test the response of the user to the product. It is an extremely effective business strategy as it helps in detecting user interest regarding the product and provides valuable feedback as to how the prototype can be improved. An important thing to note here is that an MVP app is not an unfinished or an incomplete app. It might not contain all the app features of the final product but it still functions in the distinctive way of the app design. The MVP is a basic yet complete app that grows stronger as more features are added to enhance and expand its potential. Spotify specifies the methodology of MVP as – “Think it. Build it. Ship it. Tweak it.” The idea here is to learn from the feedback and iterate.
Why do you need to build an MVP?
The most famous mobile applications like Facebook, Instagram, Uber, Snapchat were developed based on the MVP approach. An MVP app is the quickest way for an idea to turn into a business. Build MVP and you will easily be able to avoid development and marketing mistakes for your app. MVP aids you in validating your prototype app and helps you go to market faster. Also because of its market presence, potential customers actually use the MVP app which creates the real user experience. The feedback thus generated, is extremely effective in analyzing the app design and development. By building an MVP app, you are presenting the audience with an idea of your vision. If the users don’t take to the MVP at all, then it might signify that there is no market for your app. If the users like the prototype app and give specific feedback regarding its features and their requirements and expectations, then it helps you in your app development. After this, you can get back to your app design and keep working on it in accordance to the feedback provided. As the prototype only contains the very basic features, it makes rapid MVP development at a reasonable cost possible. Moreover, the MVP app is functional enough to attract customers. This creates an early base of users for the final app.
Benefits of MVP
- Quick entry into the market.
- Minimal development costs.
- Feedback based on real user experience.
- Saves you from entering into the costly process of app development blindfolded.
- If the prototype app is not well received by the users, you can limit any further investments of time, money and intellect into the project.
- If the users find the MVP app to be valuable, then you will have already generated a probable customer base early on, on the basis of the initial users.
- Based on the MVP, you will also be able to draw investors.
- With an MVP launch, you wouldn’t need to conduct costly market research anymore.
- Based on your MVP experience you can plan an efficient market strategy.
How “viable” should be your MVP app?
It is extremely necessary to keep in mind that the MVP app has to be flawless. Mobile app users do not tolerate any glitches in their app experience. If they experience any sort of problem with your app they will immediately delete it without a moment’s thought. So, even though an app constitutes of only the very basic features, it needs to be absolutely perfect for the customer to have a satisfactory user experience. Below mentioned are certain points that startups need to keep in mind while working on the MVP app –
- Determine the most necessary features that need to be included in the MVP app.
- A sloppy MVP can kill your startup dream. So consult with a qualified MVP agency that has had experience in successful MVP app launches.
- Test your MVP app properly before launching it. Test it with your friends and co-workers and ask them to report back any troubles that they might have faced.
- Use the proper methodology to analyze the feedback and reviews of your app. Make your decision on the basis of statistics and analytics.
- If the users have given a negative feedback, don’t lose heart! Look into the feedback objectively and improve your app accordingly.
It is evident that an MVP does wonders for a startup. So, building an MVP should always be your business mantra!
Though technology has made businesses efficient, it has generated even more competition. To survive and win in the world of mobile app development a startup needs to focus its expertise on developing the perfect MVP app. An MVP can be developed on the basis of limited resources and yet it provides brilliant insights into the minds of app users. The journey from a business hypothesis to a market-ready app can be very short because of the MVP approach. It will give you a distinctive edge over your competitors and ensure your app’s success. Isn’t that the bottom line after all?!Tags: MVP, MVP Development, Product Design, Product Management, Products, software products, startup