App development is a very complicated and risky job. You can spend months, even years, developing the perfect product only to have it flop in the end. But is there a way to know if you’re wasting your time? Yes – it’s called an MVP. So, what is an MVP in software development and how can it help you define the success of your product even before it’s finished? Keep reading to find out what is MVP – minimum viable product.
An MVP – minimum viable product is a useful tool in software development that allows you to see how desirable your product is on the market and how users will react to it before you even finish your product. An MVP is developed only at 20% of what the finished product could be, but it’s a functional app that has all the essential features of the full product, allowing customers to use it and provide feedback. If the MVP succeeds and customers show interest, you will know in what direction to continue development, and if not – you will give up on the idea in time and save valuable resources.
What Is an MVP and How Can You Use MVPs to Test Out Your Potential Product?
MVP – a minimum viable product is a simple yet highly effective business model that is used to test out the quality and need for the product long before it’s actually finished. The minimal viable product definition was first introduced to the tech world by Eric Ries, the author of “Lean Startup.”
He described it as “a version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.” Since then, thousands of entrepreneurs have used this very method to test whether their ideas were going to be a hit or a miss. Think of it as a movie trailer, just for your app. Some of the world’s biggest companies and most successful apps started out as MVPs, including Facebook, Airbnb, Instagram, Uber, and so on.
But what is a minimal viable product? It’s basically an unfinished version of your idea that’s supposed to provide you with feedback on the finished product. This method is based on the grounds of the Pareto principle, which states that only 20% of the product satisfies 80% of the customer’s needs. So, you only need to develop your prototype to 20% of its full capacity in order to create an MVP you will release on the market.
What Is the Purpose of Using MVP Services?
Now that you know what is MVP in software development, let’s get into its purpose and all the ways it can help you on your development journey. For starters, the main purpose of this method is to see if there is any demand on the market for the finished product. If the public doesn’t react well to the MVP, don’t expect the final product to get any more attention. The MVP lets you know whether you should call it quits and save valuable time, energy, and money or if you should continue with the idea and release the final version. It helps you minimize the risk associated with entrepreneurship.
Another benefit of using a minimum viable product is the fact that you will get a lot more data than just its demand. If there is a demand for it on the market, users will also provide feedback on what needs to be changed and added, allowing you to launch the final version at a quicker rate and with fewer issues. The end result will be much better than if you were to release the full product right away.
While there are many alternatives to MVPs, none of them are quite as effective. This method allows you to put out a product that requires minimal effort and capital and receive all the information you could ever need about the success of the final product.
What Features Does a Minimum Viable Product Need to Have in Order to Get the Best User Experience Data?
Even though an MVP guarantees accurate information about market demand, in order to get the best possible results, you need to put out the best possible minimum viable product. Those 20% of the final product need to be an accurate representation of what the final version could be.
If not, your idea could flop simply because you didn’t put enough effort into this trial version, not because it’s an undesirable idea. That’s why it’s so important to create a proper MVP. First impressions are everything, don’t ruin your chances for success. So, here are all the main features an MVP should have before launching it:
- Accustomed to its target audience – the first thing you need to consider when working on your idea is not the product itself – it’s the audience it’s meant for. You need to do some serious research on your potential customer base and adjust your product features accordingly. The best thing to do would be to hire an MVP development company as they’re experienced in marketing analysis and research, and you will get the most accurate feedback.
- Functional and evocative of the final version – even though you’re just releasing the MVP, which comes down to only 20% of the full product, you’re still creating a fully functional app where all key functions are up and running. Think of the remaining 80% as fine-tuning. The minimum viable product needs to showcase your idea to the customer base, which is why it needs to have the essential features of the final product.
- Make it attractive – it’s all about first impressions here. Your idea not only needs to be functional but also well-packaged and easy to use and understand. Convenience is key to success, so make sure the interface follows the rules of UI/UX design.
It should be inexpensive and quick – one of the key features of an MVP is that its production shouldn’t cost you an arm and a leg, and it should be fast. The goal is to launch it with the least amount of resources used. You’re not aiming for perfection, just good enough feedback.
Contact Us and Let’s Put Your Idea to Life and Create the Perfect Minimum Viable Product
We know how nerve-wracking and difficult it can be to launch a product out of nowhere and hope it gets the attention it deserves. It’s like writing a book without any publicity and waiting to see how many people read it and how they like it. That’s why we’re here with a fresh approach to make the whole process go as smoothly as possible – contact us and let’s discuss your idea and turn your prototype into a highly valuable minimum viable product.
Our MVP development company offers both mobile app development services and desktop application development services, as well as frontend web development services. Whether you’re a small startup looking for software prototyping or a big company in need of hardware prototyping, we value entrepreneurship, and our services will make sure you get the best possible version of your MVP.