In the business world, mobile apps are said to be making so much buzz. Businesses need to know that there are large numbers of apps in the market. This means you cannot expect the mobile app users to simply get attracted towards your app at first glance and start using it. You can get over this issue by coming up with MVP.
Whatever be the business is in question; it needs to go through enough brainstorming before an actual working app is built.
As per Statista, there are more than 2.7 billion smartphone users around the world and by 2022, the mobile app downloads are expected to reach 258.2 billion.
When we talk about the strategy of developing a mobile app, you can carry out the process in two ways – you can either develop a full-fledged app or you can start with the MVP (minimum viable product) approach.
The Traditional approach of developing a complete mobile app
From the beginning, mobile app development followed the waterfall approach. Here the development takes place in a series of continuous processes which goes on from one after the other as – ideation, analysis, design, development, testing, and deployment. However, this process was left with a number of loopholes like the process was quite rigid and the number of issues remained high due to poor quality testing. Everything together led to slow-paced delivery. For the same reason, you need to hire an expert and experienced team to carry out the development and still, this does not guarantee the success of the app once it is made available in the market.
MVP approach for Mobile App Development
The issues that we faced with the traditional app development approach can be wisely dealt with MVP. For the startups as well as the established businesses, this kind of approach will help them to test their idea first in the market before rolling out a lot of money on app development.
MVP development only includes the crucial features that are needed in the app. This means developing MVP needs a very small budget and it gets completed in very less amount of time.
Importance of MVP development for your business
The main reason behind developing an MVP is to test your idea from every aspect before you bring it into the market. With the MVP concept, you come up with a model of your idea and launch in the market before you start spending more resources to test and update it. Once you know the idea have been accepted in the market, you can start adding in more features. In case the idea is rejected, you can look into the feedback received from the app users so as to decide whether you need to go ahead with the improvements or leave it altogether.
It often takes 2-3 times longer than founders expect to really nail the product before scaling the business really becomes appropriate – Source
There are a few reasons why you should go ahead with MVP development for your business idea and they are:
Understanding your persona
You will be able to save thousands of dollars if at the initial stage itself you are able to know that your idea would work. So come up with the MVP for your idea and launch it for a different group of users. This way, you will be easily able to understand who your target audience is.
77% of small businesses rely on personal savings for their initial funds.
When you are up to developing MVP, you will only have to spend a small amount of money on the development budget. This means you will not have to worry much about the ROI. Say for example, you were planning to build a app for your budding business but were confused due to the increasing popularity of the mobile platform. You could only invest in one place and so be it on the mobile platform. Now which platform to choose and whether to go for native app development or not is another question altogether. In such an instance, you can go ahead and build an MVP, which is cross-platform compatible. This way, you will have an app ready for Android and iOS platforms that too, without spending a large amount of money.
Let’s you know about app performance
When you come up with an MVP, you will be able to know how the app looks like and how well it performs. This way, the app developer gets to deliver the expected output, which can be tested too. Again, by making use of the latest technology and trends, it is possible to ensure whether the development process is getting ahead in the right direction.
Test technical feasibility
Sometimes, you may want to develop a product but, you are not sure about its technical feasibility. Now, this can be focused on a single module or the complete project. So when you have an MVP developed, you will be able to test its functionality first. This way, you get to check whether the new functionality which you plan to include in the app is able to deliver proper user experience or not.
Fix the security issues
Having an MVP for your product means you can quickly find and resolve the issues before it creates some major security issues. If you can find and fix the issues at the beginning, you will be able to keep it error-free and thus attract more customers, thereby increase conversion rates.
Turn potential customers
When you have a new idea on mind, then coming up with the concept of building an MVP plays a very crucial role. This way, you will also be able to let the people know about your expertise in this field. Suppose you have a unique concept in mind which you think can benefit your potential users then including it in your MVP is a great idea. This way, they will become aware of your capabilities in terms of what you have to offer them. This will directly affect your business sales positively.
Get funding by attracting investors
If you are looking for ways to fund your project, then building an MVP is the right way to do it. You can use it to pitch your idea to the investors and easily get funding. Before you come up with a whole product and carry out testing, you can start by building MVP first and take it to the investors.
82% of businesses that went under in 2018 did so because of cash flow problems. – Source
Check out the financial viability
Coming up with an app is a thing while having customers who are ready to pay for it is another thing. When it comes to gaining profits from the app, you need to look into financial visibility first. This can be achieved by building a prototype of the app with a minimum number of important features. Once you have done that you should launch the app to see whether the audience accepts it or not. The users should be able to make use of the main functionality of the app with ease. Only then you should think about scaling it and making it ready for the broader marketplace. With time, you can modify the app based on user feedback.
Testing the product based on user acceptance
As a business, you may have faced a number of situations where you want to launch a product to the market in larger quantity, but you are not sure about how your audience will accept it. Whether they will like it or not after all your efforts, is a thing to ponder upon. You may not be sure about whether your idea is apt for the market, and it will be able to attract more customers or not. Similarly, you can start by developing the app for a platform and once you see that the mass accepts it, you can go ahead with expanding to other platforms.
An estimated 42% of new businesses fall flat due to a lack of demand in the market for the products or services it provides. – Source
Analyzing user expectations
You can make use of mobile app analytics tool to analyze the performance of the MVP. By using the analytics, you will be able to know which mobile users are using your app, what kind of search they liked, what kind of features they loved and how they are working with the app. Based on what you learned from the user activities, you can make changes in the app and modify it based on user expectations.
Helps you come up with a better version
When the business plans to come up with an MVP, then it is its way of showcasing their idea to the users. The feedback that comes from the users will let the developers to analyze the needs of the users. This means that when the product is developed completely and launched, it will be ready to hit the market.
Things to take care of when developing an MVP
- Keep the features simple
- Choose the right team
- Go through everything before the release
- Stick to core functionality
- Demographic Research
- Check customer’s needs
- Focus on small target group
- Analyse different techstack
- Analyze competitors
- Market research
With the MVP approach, the business can come up with a complete working app without putting in more efforts and funds. So to start with, all you need is to come up with a business idea, know the kind of the features you must have in there in the first place and who your target audience are. Last but not least, have the right technology partner on your side for the job.