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Building an MVP is essential for the success of product

November 3, 2020 |

A successful product is not successful from its release. It becomes successful when it offers what the customers need. When you want to create an app, you have two options on how you proceed with mobile app development. The first is the traditional way and the other is MVP.

MVP is an amazing method to reap out the benefit of releasing the app stepwise and gaining momentum in the market with the proper feedback at each step.  

What you used as Uber in 2014 is no more the same. The UI and functionality have changed a lot over time. Same stands for Facebook and other social media networks. Let’s understand how MVP makes the product successful.

MVP stands for Minimum Viable Product. This concept was given in 2011, by Eric Ries. Various concepts were introduced by Eric who, somehow change the record of past start-ups.

The idea of MVP comes from here. MVP is not a technique or a trick; rather it is a concept or a perspective.

The need for MVP can be seen or hear from the persons who successfully establish their ideas into the business through an MVP ideology. The time before MVP comes, 70% of the start-ups fail.

WHAT IS THE INTENT OF MVP?

The ideology of MVP is to receive the feedback of the user, which has used your new product, before having the finished version of this product.

This feedback is valuable because it can prevent the failure of a new product. MVP tests the basic function of the product.

The product should be able to complete its basic purpose and intent. This preliminary testing is done to analyze the product potential. MVP testing is done for mobile apps and websites.

IMPORTANCE OF MVP FOR PRODUCT-

MVP tells you very early, about the interest your product has created in its user. A green light will give you a signal to develop its full version.

Building a minimum viable product can offer you-

  • It offers you a clear vision about your product so that you can invest and move forward with this product.

  • It is a survey that will defend your product in front of your user.

  • Tells the changes or feature pick up from the new trend that you need to add on in its final version.

  • Helps in creating an outlet and arena of users, before its final version arrives.

  • Will save your resource of time and money, by giving awareness about the viability of your product.

  • It will captivate the investors

Five-WAYS OF COMMITMENT IN MVP-

There are five ways to attract to prove your loyalty and service related to your commodity-

1. A piecemeal MVP:

This way is economical. This will introduce your product to your user. Little innovation and a demo which is telling the potential functionality to its users. Small sets of tools used to build a piecemeal MVP.

EXAMPLE: your vision of developing website that joins the grocery stores with the buyers through a believed groceries. The ultimate product that buyer will buy will receive a coupon code and then a QR code, which can be later used by the customer to buy grocery from the trusted grocery

Store. Coupons will offer a discount to the customer.

Piecemeal MVP will look like-

  • Make your website in word press and post your coupons daily for a local and trusted grocery store.
  • Further, makes a file with a QR code.
  • Now, via email sent this file to your users.

Companies like Groupon use this way. They created an MVP doing these steps, and launch their MVP product. At that time Groupon was not big and successful but today it’s an enormous corporation.

2. A gatekeeper MVP:

This helps to analyze the services offered by humans, this will replace the machines with humans. You offered you every customer sterile services. In this MVP you will be more connected to your users and will have a better review of your ideas.

EXAMPLE- wants to open a food transport company. For this, you gather some meal plans from your friends and neighbours by filling a virtual form. After that, you supply the food for a week and asked your clients to review.

Food on the table company has made this concierge MVP for checking their ides and found out if it works. It was also the first to launch the concierge MVP.  

You would require a tech professional who is as updated with the technology, and that you can hire from a top mobile app development companies Atlanta.

3. A Wizard of Oz MVP:

It focuses as if the customer is viewing the final product. Until now, it is on its way to progress or in development.

EXAMPLE- here you want to develop a virtual room for footwears. The idea here is that you will post pictures of shoes, with a little description. And you launch your finalized product, first by creating a wizard of Oz MVP.

  • Develop a word press website.
  • Visit some local malls and take some pictures of shoes and post them and then wait for the same time.
  • When received an order, visit that shoe specific mall and buy and handle the payments.

Using Wizard of Oz MVP, you will get an idea that the customer is buying the shoes without trying them on. Zappos– an online shoe store is a well-established store of shoe retailers.

4. Trying to make describing video MVP.

Try to make a video explaining the key features of your product functionality. Uses animations to describe the benefits of the product. This will attract potential users. And if it is completing the needs of a large number of people, quickly it can be viral.

EXAMPLE: the unique instance for the usage of video-based MVP idea is DROPBOX. The dropbox is an app used for the sharing between tools. Drew Houston explains all features of his dropbox app in a four-minute video.

The vision behind making this app is to view if it can sort out people’s problems. Over a night this 4-minute video was viral and gains its potential users.

5. A landing page MVP:

This is used to tell the portrayal of a product. It lists all product advantages. It will include the name of your product services, its value, and its advantages over others.

EXAMPLE- your idea is to build a landing page that will swap the users face with a celebrity, a political face, or an animal face. These posts will be very hilarious and will be more viral on social networking platforms.

But before making an app with this idea, you make a landing page MVP.

  • Make a page of landing.
  • Explain the features of your product.
  • Mention the steps to swap the page.
  • Put the download button also on the page.
  • Track the number of clicks the download button will tell the users’ interest in your app.

A company like Buffer has come in this same way. Joe Gascoigne used this landing page MVP vision for BUFFER.

He received 120 sign-ups through Google adsense and he talked personally to those people, asking them what they liked about this. Now the annual revenue generates by this app is $1,000,000.

MVP IS CREATED IN FOUR WAYS-

  1. SEARCH FOR THE CHALLENGE.

Start the journey of app making or delivering the product services by defining and observing your market. Learn about your visible audience and their needs.

This can be solved by surveying and interviewing. Do the research of the market in that particular arena. Observe your closet competitors, observe their services, and check whether they can fulfil the people’s requirements.

2. Do analyze your competitors closely.

Observe similar products in the market. Closely follow the similar high-quality rush on your website, position, location of users. Use Similar Web to analyze all these aspects of a website.

The minimum viable product made by you should touch the gaps and logs in present solutions. Also, learn how to solve the problem by learning from their failures and be alert that your ways of development should be away from these failures.

3. Make a list of your MVP features.

Clearly explain those steps which a user will take while using your product. Create a list of features in every step.

  • Decide the main feature for every step.
  • Get back to the list of features and decide it into high priority and low priority groups.
  • Now keep those features which user will want while using the app.

4. Creating alpha and beta for testing.

When you are making your product, continuously test it. Alphas testing is done by the employees do the corporation who are working and connected in the making of this product.

Beta users are done by a group of users. For this also, free online help from websites like Quora, Beta list, Product Hunt and Reddit.

Beta users can give feedback like

  • If your product solving the problem.
  • Is your product faster, cheaper, and safer than other similar products?
  • Also, if users like your products, are they going to pay for it?

When you are making your product, continuously test it. Alphas testing is done by the employees do the corporation who are working and connected in the making of this product.

Beta users are done by a group of users. For this also, free online help from websites like Quora, Beta list, Product Hunt and Reddit.

Beta users can give feedback like

  • If your product solving the problem.
  • Is your product faster, cheaper, and safer than other similar products?
  • Also, if users like your products, are they going to pay for it?

How does MVP work?

It generally takes 6-8 months for the final product to be developed. Also, the budget cost around $200,000. So now you will launch the finished product that you will introduce out easily in the market.

Either your users would like your product or don’t. Only in this way, essential products will exist.

If you use MVP for your product, you will get real feedback and unlike features can easily be removed during the development of the product.

MVP prototype usually takes 1-1.5 months and the money used will be around $10,000 to $15,000.

Some big corporations used the minimum viable product technique

  • FOURSQUARE. This company is now a huge success. Its MVP contains or tracks the number of clicks and awards in the form of any hallmark or tags. When developers get a reaction to the product from the users, they try to develop it more. They start adding city guides and many more recommendations. Presently, foursquare now contains 50 million people who have entered their website in about 8 billion times.

  • INSTAGRAM- the motto behind this is to apply filters on photos and save it in their albums on their tools. Application was then much liked by the users, after that it includes more features like navigation, tracking , hashtag, and connection with other networks.

  • AMAZON- Jeff Bezos started Amazon on a very small scale in 1990.. He initially included only few categories. Afterwords he selected CDs, books, videos, hardware, and software. Only the store of books was present on his simple website. One buyer ordered a book; Bezos buy it from the shopkeepers and retailers and shipped it to the retailer. Nowadays, Amazon has become the largest website for retailers.

  • FACEBOOK. MVP for Facebook was created with the idea of connecting the students of the equal class, college, and campus. They allow the board to post their messages on Facebook. Initially, Facebook was named Facebook.

  • Airbnb. This is a website created by Gebbia, and brian chesky.  These guys had a hard time when paying their rent. They became alert with this idea of making available housing to the people who come to San Francisco. These two launched a website and posts simple photos of it. For the first time, they got their first three guests.

Conclusion:

MVP is now no more an option for the product making. Instead, it has now become the industry standard practice for software development.

Whether you are building a social media platform, dating platform or any ERP solution, building an MVP is an essential part of the development.

Summing up all the above-mentioned facts, gatekeeper MVP and Wizard oz MVP are high in practice, whereas describing video MVP is a feasible option for cost-cutting.

You need the best development team. There are going to be a lot of features. You are in active engagement with tens of different mobile app development companies California.