If you are entering into the sector of the mobile app development industry as a start-up, then minimum viable product development – is the phrase you ought to get familiar with very quickly.
The main goal of developing an MVP is to minimize the amount of time and resources spent on developing a product.
“The minimum viable product is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.” – Eric Ries, Author of “The Lean Start-up”
80% of apps got failed within a year, if you want to avoid being that 80% start minimum viable product development.
MVP will not most effectively assist you in validating your idea into a cell app, but it will also help to have information that what functions you ought to include on your app.
Basically an MVP facilitates you to test your concept within the market on capability of customers.
The minimum viable product development is a lean approach to product development. It prioritizes speed and customer feedback over building a fully featured product from the start. By following this approach, companies can reduce the risk of investing in a product that may not succeed in the market. And at the same time it increases their chances of creating a successful product that meets customer needs.
Whether you are a start-up or a founder with this guide you can easily develop a MVP product. That solves your customers’ problem and helps you in achieving your business goals.
What Is A Minimum Viable Product Development?
MVP stands for in software development is ” Minimum Viable Product” – A strategy that emphasizes creating a product with just enough features to satisfy early customers and test the business idea.
Moreover, the MVP app development refers to the minimal form of your product that is being tested in the market. It focuses on the core feature of your idea and helps you to receive feedback on your ideas. So that you can build a more flexible and robust final product for your app. Without spending the whole budget, you can launch the MVP of your idea in the market.
Purpose Of Developing An MVP
The basic MVP product development is to launch the app quickly with a small budget. You can get feedback from your users on the initial idea, and then use it for the betterment of the final product. The MVP allows the firms to find potential users, and pull the ideas according to the experience.
With minimum viable product development you can analyse the difference between what services your solution will provide and what your customers need.
One of the main purposes of the MVP is to test the initial product with minimum errors.
Difference Between Minimal, Viable And Minimal + Viable Product
Minimal, viable, and minimal + viable product is three different concepts that are often used in product development.
| Minimum | Viable | Minimal + Viable |
| This product has only essential features required for it to function. It is the bare minimum version of a product that can be released to the market. | Now this product only functional but has enough features to satisfy customer needs and provides value. | It is a product that has enough features to provide value to the customer while still being kept as simple as possible. |
Overall, the main difference between these three concepts is the level of development and the features included in the product. Let’s look at the benefits of creating a minimum viable product development.
Benefits of Creating an MVP for Your Business
Starting a minimum viable product development for your business has several benefits, including:
Budget-Friendly
In order to enhance the mobile development strategy, starting with the minimum viable product development for your app is the easiest way.
It prevents the available resources from being wasted on things that do not work.
Plus, the research showed that from all the millions of apps available only a few apps are being downloaded due to their interactive interface and seamless performance.
Less Development Time
If an app is developed in a shorter time, then it simply means that the development cost is also less. The sooner your app is launched in the market, the sooner you will receive feedback from your users. This will also help you to work on the errors and bugs, and you can easily release updates in the market.
Market Validation
After completing the MVP development, you can easily know whether your app or product is suitable for the market or not.
According to the feedback on your MVP, you can update changes in the final product during the development phase.
Focus on Core Development
The MVP of the app mainly focuses on the core idea of the product, and it does not focus on any other function of the app.
Moreover, the idea of MVP deals with lean start-ups and is built with a minimal budget. With the MVP, you can also test your app with minimal risk.
Early Testing and Gathering Feedback
As MVP focus on the core idea of the app, you can test it in early stages whether your app will work in the market or not, without investing the whole budget.
It not only offers you the ways to find out the opinion but helps with the views of the potential users.
We have talk about the benefit s of minimum viable product development, now we will discuss the need of building an MVP.
Need of Building an MVP
Before developing a new product or app, have you ever thought of investing in initial idea approval? If yes, then MVP development for start-ups solution is the best idea to test it in its initial phase for a quick launch.
- Start-ups that escalate properly grow 20 times faster than the start-ups that don’t.
- Around 30% of start-ups fail as they ran out of cash.
The reasons why you must develop an MVP of your idea are:
- Creating the initial model gives you a basic idea to start and allows you to focus on the core feature of your idea.
- Approval of the initial idea includes sharing the MVP and testing it with genuine users to get feedback to make the final product better.
- An MVP helps you to prepare for investing in the final product development and you can begin with the app development process.
Most Successfully Launched MVP
The following list shows the name of companies that have successfully done the MVP app development before launching the final product.
A broadly famous social media platform like , twitter, entails a unique method.
After Apple released iTunes, a podcasting platform, odeo, skilled tough times and that they were forced to prepare hackathons, looking to determine out what to do next.
They created twitter a micro blogging platform that allows users to share short messages called tweets. It’s an MVP platform that allowed users to send and receive tweets via text messages.
Within a year of launching its MVP, Twitter has over 100,000 users.
Twitter expanded its user base and became the second most popular social networking website after Facebook.
Amazon
Amazon become started to promote books online, with the aid of hard the Barnes and nobles of the sector who were in large part stuck within the bricks and mortar age.
Originally designed in 1994 to recognition on books at a low rate, with an easy net design based onan MVP, that’s all they had to broaden and establish their employer in the retail marketplace.
Within a year of launching its MVP, Amazon had sold over $15 million worth of books.
When Facebook released, an MVP changed into accomplished simply to attach students of colleges and schools all together through messaging.
The concept was just to connect pals through a social platform, and organize gatherings.
Fb, in its early days, was constructed at the simple model of an MVP containing the wished functionality to fulfil its aim.
This utility changed into released to test among customers, and it accrued masses of remarks. This resulted in making the application extremely popular over the internet; it presently has over 1.3 billion lively users.
Groupon
The usage of the antique idea of vouchers and reductions, with an idea of sharing and socializing, Groupon has attained new heights.
Initially, Groupon was launched using WordPress, wherein regular pdfs have been emailed to users that were already subscribed. Trying out with the help of an MVP proved a success.
In a while, Groupon constructed its voucher machine and backend, further driving it to an awesome fulfilment.
These successful MVP launches highlight the importance of focusing in the core value proposition of a product. Overall the minimum viable product development helps with early users and using their feedback to improve and iterate the product.
How to Build a Minimum Viable Product?
Before you create a minimum viable product, remember that the goal of an MVP is to test your hypothesis. And validate your product idea not to build a fully featured product.
Here are the general steps to start mvp development process:
Step 1: Figure Out the Problems
The very first step for minimum viable product development – is to evaluate your business idea.
The two main questions that need attention are “What is the need for this product?” and “How it can help people”?
Finding answers to these questions will help you to find out the main aim of your product.
You may ask your target audience or users to use your product, but the thing that matters is that “why they will use it”?
So you have to develop a solution which can solve the problems faced by the users. One of the best ways to find a problem that needs a solution is to think about your personal challenges.
Step 2: Know Your Competitors
Before beginning with the mvp development process, you must analyze all your competitors in the market that are planning to build the same app. Sometimes developers ignore their competitors because they have faith in the uniqueness of your app. But this faith is not sufficient and you have to clearly analyze all your competitors in the market.
There are many tools available in the market that can help you to analyze all your competitors. Moreover, they can also help you to investigate their apps and websites with all the insights like monthly traffic, source of traffic, rank in a particular country, location of their users, and many more.
But the data provided by these sources contain a small margin of error. One of the tools that are available free of cost in the market is Similar Web. All you need to do is copy and paste the link of your competitor’s website and all the details will be displayed on the screen.
Step 3: Identify The Core Features
When you have researched on your competitors, you can easily identify the essential features and functionalities that your MVP needs to deliver value to your target customer.
However, focus on the features that are necessary to solve the core problem or address the core need. Essential features can also include
Now you can easily know all the essential features that you can ask your minimum viable product development company
Step 4: Listing and Prioritizing all the Important Features
After successfully defining all the steps that your users have to follow while using your product, now you have to create a list of particular features of each stage.
You may highlight all the features you “may” want to include but are not necessary.
After successfully creating the list of all the features of each stage, you have to now prioritize them. In order to do this, follow the steps given below:
- Focus on: What is the most important and primary feature that you want your users to accomplish?
- Think about: All other features you want to be offered to your users by the app.
- Now classify all the remaining features and services under various categories like “must be included”, “maybe included”, etc. This technique will help you to make the development process easier.
- After deciding features of all stages, you can now prioritize them according to their priority like “high and low”.
- Now you can define the scope of each feature and start the minimum viable product development – For better results, you can also create MVP’s prototype.
Step 5: Develop, Test, and Upgrade
Now as the scope of each feature is defined, this stage is of development.
When the MVP is developed successfully, you have to begin with the testing of the product. At the first stage, the product is tested for the improvement of quality by Quality Assurance Engineers. These engineers define whether the product is ready for alpha or beta testing.
Alpha testing
It refers to a limited focused group like friends or family. You give the alpha build of your product to your family, friends or your relatives.
Rather than this, you can also directly jump to beta testing. But as soon as the product is approved by alpha testing, you can now begin the beta testing of your product.
For beta testing,
The product is released in the real world to the real customers.
The beta testing period usually varies, but in general, it needs 2-3 weeks to receive feedback from users. Based on the feedback received from users, you can make changes or update your product. This feedback will help you to make your final product more flexible and robust.
The potential users will define what more features you can include in your app and what features are not needed.
After receiving feedback, you can improve your product, test it, again and again, improve it according to your user’s response, and then improve again, test again, and build again.
With these steps you can easily start the mvp app development. All you have to focus on delivering the minimum set of features that are required to provide value to your customers
How Much Does It Cost to Build A MVP App Development?
Basically, the mvp development cost depends on several factors like type of developer you are hiring, app platform and many more.
In the case of freelancer developers, the development cost is around $12,000. The development cost of MVP by an in-house development team will cost you approximately $23,000. The outsourcing MVP development costs around $33,000, whereas a local development company charges only $63,000.
The development cost also depends on designing, coding, project management, and testing. Some of the projects also need more maintenance after development.
Let’s take a look at the potential costs:
In order to validate an idea and make the prototype of its UI/UX, it will cost around $5,000-10,000.
Depending on the complexity, the average app development cost is around $20,000-40,000.The cost of project promotion and landing page development is around $2,000.
Conclusion
In this blog, we discussed all you need to know about MVP or minimum viable product development including process, importance, and cost. Now, if you wish to learn more about it, all you need to do is reach out to an MVP App Development Company.
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Aditi Gusai is a tech-savvy wordsmith who loves to weave stories with her words. As a budding content writer, she brings a fresh perspective to the table and is passionate about exploring new avenues in the ever-evolving world of technology.
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