Developing a web or mobile app not only requires money and time investments. It’s also connected with risk, especially when you’re not sure about the market needs. You can reduce all these three issues by developing a compact version of your app: MVP. How does it work and how your business can benefit?
What Is MVP in App Development?
MVP – Minimum Viable Product – is a first, compact version of an app, that contains just enough features to satisfy the initial users and collect feedback.
MVP gives you a chance to test the success of your idea already at the initial phase and see whether your app has market potential. You learn about how and how often is it going to be used, which functionalities and features are liked. It lets to set goals for future development in order to create a product that users like and need. What is more, you can start building brand awareness and gaining loyal customers before releasing the final product.
It’s important to mention that MVP is not an amateur app model. It has to have enough value that people want to use it. You focus on the main functionality only, but it has to be polished and work perfectly. Users won’t wait long till it loads because it’s the first version. Only that kind of serious approach gives you an opportunity to check what people really think about your idea.
Positive results at this stage give you the green light. If the results are negative, you may need to point out a different development direction or rethink the whole concept.
MVP for Startups: Test Your Idea And Win The Market
The most frequent startups’ issues are lack of market needs and not enough money. MVP solves both of them, allowing you to get the real users’ feedback about your idea and assess the cost of building a full-featured version. The fewer features you want to include, the less time it takes. And that decreases the costs, making it affordable for new, innovative companies.
Building MVP first also means lower risk, so already at the initial stage investors are more likely to support your project. If the MVP is well-responded, that’s also helpful with convincing new investors. Minimum Viable Product allows startups to test their ideas and receive feedback to establish development direction.
If your concept is unique and game-changing, it is especially important to get an app faster and prevent other companies from placing that kind of product on the market before you. And that is what MVP ensures: quick market entrance with minimum investment and risk.
MVP for Small and Medium-Sized Enterprises or Corporations: Get Innovative And Refresh Your Image
Is MVP a solution only for startups? The answer is: no. SMEs and corporations also can benefit from that idea.
For example, you can test your vision with MVP. If you think about developing a complex app for your enterprise, you can create MVP first and not connect it to your production servers yet. It gives you opportunity to test your idea and find out if it brings real value.
In case of companies that already exist, MVP creates an opportunity to make changes in products they already offer or to get innovative with the business development directions. Established companies need to evolve to keep pace with startups offering smart and agile solutions. Therefore, adding a new, modern app to your products, your company attracts new customers and refreshes its image. Starting with MVP lets you determine the real value of your idea, the target group, and adjust the concept to users need.
In case of big enterprises, the risk is connected to customers you already have and their reaction — they are not random people, sometimes the emotional value of the current solution is high, and your company can’t afford to lose them at the stage of beta versions. That’s what makes it crucial to distinguish right features of an app, having in mind users’ (not your teams’) needs. Here is where outsourcing comes in handy. An external company will analyze your market needs, propose the best solutions and design flawless MVP. Plus, you benefit from their experience.
Ask yourself what is more important for your business: developing a full version of an app or showing up in the market as fast as possible? Think carefully about your app idea, write down all functionalities you want and consider if every one of them is crucial from the start. Choosing MVP first allows you to verify your idea and business potential as fast as possible, that is why this solution is so recommended.
If you want to create MVP, you need to identify your target market and the essential features of an app. At Appstronauts we’ll be glad to help you with planning everything and developing MVP that fits your market. We may build a dedicated team or provide particular specialists who will help you expand your idea. Send an e-mail to email@example.com and make your dream about creating an app come true!