Are you looking for small businesses that bring a new product to market? Well, the concept of Minimum Viable Product (MVP) is an excellent way to test your idea with your customers. It is an adaptation of the new product which allows you to collect the maximum amount of definitive understanding about users with the minimum effort. In
, your application includes few features necessary to solve the main problem for a group of users and be released to market. The core principle of MVP development follows a build-measure-learn process with an objective to offer immediate value quickly by minimizing the development cost and using data to learn what users expect. MVP methods benefit you to release a product that can be constantly improved as you validate or invalidate the hypothesis.
How to Plan MVP Application? : A Step-by-Step Guide
Creating an MVP application is one of the most efficient, time-saving, and valuable ways of validating your ideas. Well, MVP planning is no different than your regular mobile application development but it will be a joint activity between you and your technology partners. However, before you start, decide whether you are going to develop the application for a short-term or long-term purpose. Why is this important? Let’s see these two examples
1. Short-term MVP:
Suppose there is an international-level tech conference in your town and you are expecting a lot of attendees. And suddenly an idea spark up into your mind that you can use your house/apartment as a temporary accommodation for the people who are attending the conference. Here the MVP comes in picture. You click some photos of your apartment and upload it on your own website. Create an attractive advertising, decide the rent, and post the advertise and wait for the responses. If you receive a positive response then you have implemented MVP successfully for a short-term purpose.
2. Long-term MVP:
There are numerous examples of successful long-term MVPs and Facebook is one of them. Mark Zuckerberg launched a website Thefacebook in 2004 what is known today as Facebook. Back then, it lacked a number of services that are available on Facebook today. Thefacebook was designed as the universal directory for the students at Harvard University. Due to its increased popularity, a few months later, it was expanded to other top universities in the United States. The expansion to additional universities continued and in 2006, Facebook opened its services to everyone with a valid email address and rest is the history. Today, Facebook is one of the leading and wealthy brands in the world.
Now, here are the main parts you need to include in your MVP planning:
Identify Your Target Audience:
Understanding your users is one the basic axiom for any kind of business. Before you start development for your users, first identify them. If you are going to build an application for e-commerce development, your audience must be businessmen, retailers, banker, stock persons, etc.
Identify the Opportunities and Set the End Goal:
Once you know who is your targeted users, understand their end goals and plan the strategies to achieve them. For every user, there will be set of actions that are required to fulfill the expectations. For example, for the Pet Adoption Agency app
- Users are Pet Adopters
- Their actions are building a profile, find a pet, book an appointment, and take the pet home
When you plan an MVP product, this kind of stuff adds more value in the application. You can also prioritize the needs so you may need to focus on other users.
Analyze the Market:
If you really want to spot new opportunities, you should study the current market situation as much as you can. It also helps you to identify the potential obstacles and risks. If the market is flooded with applications just like yours will make you rethink twice before initiating the development process. It is always good to look for a niche and under-developed area of the market. Competitor research will enable you to discover who your main competitors are, what percentage of the market they own, what they do well, and what new solutions you can bring to the market.
Select the Right Features:
In this phase, you will be able to determine what features to include in MVP application and also features to include on the product road-map that is low priority. Using the information from the previous step help to finalize what features to include in the application. Like we talked earlier about Pet Adoption Agency app. Based on the information about user actions, you can easily determine the application must consist a registration form, search option, application forms, and more. Once you decide the core features to include, make a planning about what features can be included later releases.
Your MVP Development is All Set!!
At this point, you have a h3 foundation to begin with developing MVP product. You have understood and identified your business and customer needs; you have build strategy to implement; you have a road-map for what features to build and their priority.
Many times people think the chances of success in the startup industry may be against them. But, effective MVP and making a valid decision based on facts and research will ultimately earn you a front row seat at the winner’s table. If you are searching for a
to build your MVP application contact Panacea Infotech today. We have experienced team of developers to make your application development effective so be sure to avail our services at affordable cost.