Why Is It Important To Build An MVP For Your App?
It is the season of mobile apps. They are winning people’s heart. People keep searching app stores for new apps. These convenient products on the smartphone help people do a lot of their jobs efficiently.
A mobile app makes money for the app owner. More and more companies are coming up with new mobile apps in the hope of getting their customers’ loyalty.
Many entrepreneurs are trying to launch apps that will disrupt the market. They are looking at new ideas to build apps. But there is uncertainty about acceptance of any app.
Making an app is very costly. If it doesn’t catch the people’s fancy, then the money is lost.
Is there a way to minimize the loss❓
It is here that an MVP App Development can help.
What Is An MVP?
MVP stands for Minimum Viable Product.
A minimum viable product is an app with the minimum features which are undoubtedly necessary to make people use the app. Without these features, the app will not work.
Why is there a need for such a product??
Why can’t app owners launch a full product??
Most of the times an app is launched in the market with some unique features. Entrepreneurs launch apps to satisfy the need. There may be other apps which are already doing the job.
But the new app will have some unique features which the older apps don’t have. According to the MVP App Development Company that launches these apps, the people will welcome them.
In some other cases, companies launch entirely new apps. These may be the first ones to solve the problems that people face. There is no certainty that people will accept the app.
The app owner doesn’t know whether the app will become a hit among the people. The app could become a complete failure, in which case there is a considerable loss of money.
There are other scenarios where companies might want to launch an app in a hurry to capture the market. Others may be developing similar apps. So, you must hurry if you’re going to make the most of the market.
A fully developed app takes anywhere between six to eight months to build. You cannot wait so long.
Some companies may want to launch an app but don’t know whether there is still a market for an app.
How do they find out❓
You don’t expect such people to spend a vast amount of money and a long time to launch the app. They want to start it immediately and at a low cost. It will help them find if there is a market for the app.
In all the above situations the ideal solution is to launch an app with the bare minimum features.
It will be much less costly.?
A mobile application development company can help you begin such a product in a short time. Once they get market feedback, they can come out with the full product. It is the best and most economical way to test the market.
An MVP is such a product. It will take very little time to complete the product. It will contain features that are essential for running the app efficiently. You can build the app at a fraction of the cost to develop an app. This product will amply help the companies know the acceptance of the app in the market.
Even if the MVP fails in the market, you don’t lose much money. An MVP is a useful learning tool for you. Now you know what the market wants. You can come back and alter the app in such a way that you include those features. Soon you can launch a winner in the market.
If the audience does like your product then again you can study what more the people want. The feedback on the app will tell you what features you should add so that you can make it a better product.
In any case, an MVP is an excellent way to find out what the market wants.
- A Minimum Viable Product is an app with the basic features necessary to make it work.
- People may not accept an app even if it has some unique features. An MVP will help to see if the product is as per people’s liking.
- MVPs help to test a new idea.
- MVPs are useful for companies to launch an app in a hurry to capture the market.
- Companies that want to see if there is still space for another app can use MVPs to test the market.
- MVPs are much less costly, and you can release them in a short time.
Do’s And Don’ts With An MVP
- Your MVP must have the basic functionality with high quality.
- Target the prominent markets for your MVP to get the best feedback.
- Even as you launch your MVP, you must decide the monetization model.
- Know the user behavior and apply that.
- It is necessary to launch the MVP as soon as possible.
- See what your competitors have.
- Have a good marketing plan to launch the product.
- Don’t add any functionality over what is minimally required.
- Don’t delay launching the MVP for adding more features.
- You should not lose sight of the overall viability of the product.
- Don’t be reluctant to start all over again if your MVP fails.
Finding The Necessary Features For Your MVP
How do you find out which features are most necessary for your MVP Development?
The first thing to identify is the problem that you plan to solve with your app. You should then think about what features will help solve the problem. It is essential to take care to minimize the number of features you add to your MVP.
The way to prioritize the features is to start from the full list. Make a list of all the features that you want to have in your app. Once you have the file, then you can start trimming it. You can find out those that are necessary. You can then see which all you can eliminate to make it an MVP.
MoSCoW is a method commonly used for this purpose. MoSCoW is the short form of must, should, could and would. These four statuses should decide which features you want to keep in your app.
You can determine which features should appear now, which you should include later, and which features to cut out completely.
Using the method will allow you to produce a lean app. You must reduce the features in the should have and could have levels. Unnecessarily increasing the number of features defeats the purpose of an MVP. It will affect the budget and timeline of app development.
You must also know what your customers want and what they need. Both are entirely different. If you keep on adding the features that your customers want, you will not have a lean product. You will go beyond the budget and date of launch.
There are some features which will only be useful if you reach a certain number of users. There is no point including these features until you reach that magical figure. You can wait for a more extensive user base to include these features.
One of the primary purposes of releasing an MVP is to know what the customer wants. It is essential to have a feature to receive feedback from the customers. It will help you to know immediately what the customers think about your app and what more they expect from you.
The Right Way To Build An MVP
There is a method to build an MVP. MVP in Mobile App Development doesn’t have all the features. But the app should help the users reach their goals. If you are addressing a problem, the MVP should help the users solve the problem. Only then will it have any use for them.
You should build the first release to solve the problem. Subsequently, you can add features as and when you get feedback from them. With each version, you can improve the product and keep adding features which are more luxury than a necessity.
Adopt Agile Method
Using the right method of Mobile App Development with MVP is crucial. An MVP is a product that changes very often. With each feedback, you will have to make changes in the product. It is easier to manage changes with Agile technology.
- You can get faster releases with Agile as you can make changes quickly.
- You get a higher quality product with Agile technology as you can remove bugs or other issues immediately.
- Agile technology involves the client also. So, there is better interaction between all parties involved.
App Building Rates
As against a fixed price the hourly rates will better suit when you build an MVP. Just like the agile technology this kind of pricing also gives a lot of advantages.
- Hourly rates allow clients to know how the money is being spent, giving better transparency to the process.
- This kind of pricing makes it easy for changing directions. App development firms can make changes quickly as per market needs.
Advantages Of Building An MVP
Testing The Idea
The main advantage of an MVP is that it allows you to test an idea. You can launch a product at a lower cost and see whether people accept your concept.
It also helps you in getting valuable feedback about the product. You can include other features as and when you get your feedback on the product.
If you are seeking funds for a new app, then MVPs are the best way to convince the stakeholders.
You can launch the app at a low cost and show the acceptance of the products. It will help you to show that it is worth investing in your idea.
Helps Evolution Of The Product
When you launch an MVP, you can get the feedback about what features you will need in the final product.
It will help in the development of the product. Instead of including features without knowing their acceptance, you can consist of features that you are sure the people will accept.
It is one of the main advantages of launching an MVP. The initial cost is much lesser than a full-featured product. Moreover, you can add the features with the money that you earn with the minimal product. The spending is also spread over some time as you insert one functionality at a time.
- An MVP helps to test your idea in the market and get valuable feedback.
- You can check the acceptance of the people spending a small amount of money.
- An MVP helps you convince the stakeholders regarding the effectiveness of your product at little investment.
- After you launch an MVP, you can add features as you get feedback from customers. It helps in the evolution of an excellent product.
- You can earn with an MVP and use the money to add features over some time.
The Post-MVP Roadmap
So, what do you do once you have launched the MVP?
You need to take some steps to get the benefits of the MVP instead of only waiting for customer feedback.
Once you have done the MVP Development, you can get Beta testers to check the products.
These people are usually from the client’s side. You can also get those people if your client requests you to do it. They will use the products just like users do and give you feedback on various aspects. It will help you to see what the users want.
You should not stop at just receiving the feedback. You should record the input. Then you should process the results. You should turn the information into tasks and include them in the backlog. It will tell the users that you are taking their feedback very seriously.
Marketing The App
After the MVP launch, you keep getting feedback and including those features in the app. The process goes on without a break. Meanwhile, you should start marketing your app. Without this, you cannot expect to reach the user base that you are targeting.
You can use SEO services to market your app. Posting blogs is another excellent way to market your app.
Social media sites are one of the best ways to promote your new app. You can also use press releases and magazine advertisements. Contests and competitions can also help in marketing your app.
- You should get Beta testers to test our app.
- The testers can be from the client side, or you can find them yourself at their request.
- These testers will use the product just like any regular user and give you valuable feedback.
- Record the feedback and include the suggestions in the backlog. It will give them a message that you value their feedback.
- The testing and improvement process is continuous.
- You should start looking at various methods to market your app. SEO, social media, blogs, press releases, and advertisements are all excellent options.
Actions To Be Taken
Analyzing The Matrix
You must track and analyze the metrics you receive. You should investigate user engagement, session duration, user acquisition, and lifetime value. If you are using different methods of monetization, you should analyze the performance of each of these methods.
Check user feedbacks. You can check the feedback section in the Google Play Store and Apple App Store for comments about your app.
You should also check whether your brand is getting mentions in social media sites. There are tools like YouScan that can help you check mentions of your brand anywhere.
You should then analyze the feedback you have received. For each of the parameters, give a ranking. See which of the features are performing well and which are not. You can check what metrics will each of the elements affect and make the changes accordingly.
- You must track and analyze the performance of each parameter of the app.
- Analyzing the performance of different monetization methods is necessary.
- Check user feedback in the feedback sections of the Google Play Store and Apple App Store.
- You should check social media sites to see any mention of your app.
- Tools like YouScan help you see wherever there is mention of your brand name.
- Analyze the feedback and see which features affect which parameters in the app. It will help you in the Feature-Driven Development.
An MVP allows you to test an idea. All apps that companies launch don’t make it big in the market. Building an app is expensive, and failures can set you back by a considerable amount.
Building an MVP allows you to see whether the market will accept your app. It will also help you know what features you must add in the app to get the acceptance of customers. For this to be successful, you can hire a mobile app developer from us.
It is a standard procedure that many top mobile app development companies go through before they launch the full product. There is a significant saving of money when building a minimum product. It also takes much lesser time to create such an app.
Many favorite mobile apps started as Minimum Viable Products. Uber, Instagram, and Facebook are just a few examples. They launched a product with features that are bare necessities. They developed on these later when they started getting feedback from the users.
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