Any entrepreneurship sparks off with doubtful thoughts and a cloud of confusing ideas which somehow end up being a one great winning strategy. In the beginning phase, what often puts you in the muddle is the question: What if users don’t like it or can’t relate with the solution I offer? When it comes to designing an app, this question becomes the crux of the brainstorming. Thankfully, there is an MVP (Minimum Viable Product) that can let you feel easy save you from the torture later.
Since MVP is a feedback-driven app model, it helps manage the product development quite in it early stage relying on the real-time responses of users.But again, for any start-up business, it is important to first understand the babysteps for MVP as to what it really is and what it means to businesses launching their next big app in the niche market.
Let’s take a wider look at how MVP benefits mobile app development from a broader business perspective.
What is Minimum Viable Product?
Basically, MVP is a first compact version of the main product developed and launched to test the value and acceptance of the idea. More like a base model, MVP is usually built with minimum but essential features that define the product, and it helps determine the market potential as well.
However, MVP is definitely not an amateur model, but rather focuses on a future growth presenting a mature product model that contains most important features for fetching feedback from customers.
How does MVP work?
After creating an MVP for a mobile app in a standard app development cycle, the team of developers releases MVP to a specific user group or into the market to see if it works. If MVP does not appeal to users, it means that either developers need a different directions for mobile app development or the app idea needs some polish and attention.
MVP in a way helps understand users’ perception of the product idea and how to further improve the product performance and its impact. Thus, mobile app MVPis considered to be an active yet minimalist model of an actual product and not the product undergoing various stages of development.
Benefits of MVP for mobile apps
Given the fact that MVP stands for checking the viability of the product idea, it brings following benefits for mobile apps:
Rich entrance with minimum risks for smart entrepreneurs
MVP is rich, risk-optimized investment for smart entrepreneurs
For smart start-up entrepreneurs, MVP mobile app works as a starting point which, upon being successful, results in a scalable business. Due to wide user base spread globally, it helps you set your foot quickly in to the market and access the user experience without investing a big slice of your budget.
When starting a business, risk management plays the key role in determining the success of the product. MVP helps evaluate the risks involved and project the impact of deliverables in the target market.
MVP is the essence for Lean Startup success
An MVP for mobile apps effectively supports the dream of Lean Startup where idea is the primary fuel and is processed with restricted budget in limited time. As it fits well with the Lean start-up approach, mobile app MVP helps acquiring customers faster than any other method. Interestingly enough, the minimum viable product gives the start-up ventures the quick insight into existing market trends and its future promises, and makes them see what they otherwise can’t without even spending a fortune in the process.
MVP product development keeps your guesswork to a minimum
By shaping an MVP model, the potential area where business feel at an advantage is its ability to test the product value for users without exploring market the hard way. With an MVP, you can confidently touch the surface of how the product performs and makes difference to users by checking the progress on our own.
You don’t have to spend months working on a full app versionthat may include features rejected by users. Since people are often vague about their exact needs, MVP clears the cough and presents users with several options until they find the one that seems interesting.
MVP means cost optimization
Since MVP does not require to build all the features in one go, you don’t have to worry about making a heavy initial investment. It tests the success and impact of an idea at a very beginning phase, saving you a lot of money in the long run. As you launch the first release of mobile app to a chosen market, you can determine the precise interactive personality of your product, which also you generate more revenue.
Technical performance and resource management
This is another considerable gain of launching MVP for mobile apps. As users post reviews and express honest opinions about how the initial version of your mobile app is actually performing, you begin to gather a clear picture of how to address the issue with right technologies and tools what quality of human resources can yield better output.
Security improvement and feature enhancement
If your app has security threat issues and left loopholes for data loss, it becomes the most critical hurdle for the business. The app with bugs is the biggest disappointment. Users are unforgiving to this and choose to delete the app over waiting for the solution. MVP helps you correct the mistakes and improve the security aspects of mobile app in time. As the issues is resolved in the initial stage, there is less risk of losing reputation and brand image, and a bigger chance of winning back happy customers.
Inspiring Real-time use cases of MVP
Most all the highly successful social media travel assistance mobile apps started from the basic level and gradually scaled up after attaining the significant impact in the relevant market If you have been using Facebook, Twitter, Uber, Snapchat and Instagram for more years, you would know there were not the same when they were launched. These are the real-time use cases of how starting off with an MVP helps you rise to the pinnacle with wise tactics.
Facebook: Intended to connect people virtually irrespective of their location and country, Facebook revolutionized the way people socialize with their friends and make new ones. It pioneered the innovations like photo tag, public comments, private chat box, expressive emoticons, and now it provides AI-based chat assistance, marketing platform, enhanced features of social gaming and expressions, personal storyboards and more.
Uber: It started with the apps that connects drivers with customers along with payment facility. It wasn’t much but it helped Uber enter the market. Uber progressed from the most basic to now quite sophisticated, highest earning app that has cab sharing, digital wallet, location tracking and many more evolved capabilities.
Snapchat: Ideated by Evan Spiegel, Bob Murphy and Frank “Reggie” Brown, Snapchat was built around the logic of sharing images and messages that automatically self-destructed 10 seconds after reading. Launched in 2011 only for iOS devices for sending photos, the app received incredible response with 166 million active users by May 2017.
Things to consider before launching an MVP
Before practically presenting the app in any live app store, make sure your app does not impose glitch after installing it. Since there is a tight market competition, mistakes are seldom forgivable and may destroy your start-up dream.
Hence, run an in-depth check on your MVP and troubleshooting to see if it works perfectly. Share its beta version with your nearby users and friends before you hand it to thousands of online strangers. This is vital step towards saving the future business reputation.
Gauge your success and CSAT with the power of Analytics
The very next step after you have finished the entire development operation is to see whether or not the launch of the product is working fine. At this stage, your work gets double as you begin to understand the gradual success of your business idea. To get capture the precise picture of the product performance, it is important for you to integrate data analytics that helps take smart decisions.
Statistics helps you conceive future directions about where to improve and what changes it needs down the line to evoke satisfaction signals from users.
MVP is a brilliant mobile app development strategy about user expectations with a minimalist approach without drilling your financial capacity. All you need is to identify your target market, conceive the essential features, and hire the best mobile app development company with right technology and latest insight. Hope this blog has delivered clear understanding of MVP and its benefits for mobile apps.