Why you Need To Build an MVP App

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Why You Need To Build an MVP App

• By - Enterprise Monkey
• Visit us www. enterprisemonkey.com.au

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Introduction
MVP app is a minimum viable product that is
released in the market before the final app
launch. It offers the basic functionality of the
final product that solves a core problem for the
users. An MVP acts an essential way to test a
platform business model with a minimum amount of
custom coding and complex functions involved.
Even todays immensely popular apps such as Uber,
Instagram, Snapchat started out on a much simpler
level. Years of iterations, development and a
significant amount of capital makes these apps
seem effortless today.
(Source)
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Some of the main advantages of building an MVP app
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Study Market Demand
The MVP allows you to test your business idea by
getting a version of your product to the market.
By offering the core set of features rather than
a full-blown, feature-heavy product, you can test
key hypotheses, gather user information and
intelligence to reduce the time to market and
save on costs.
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Gain Trust
With your MVP app, you can demonstrate the market
validity of your product and build a strong case
for investment in your app. When stakeholders see
potential in your app backed up with facts, they
are much more likely to invest in your app.
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Evolutionize your App
An MVP allows you to build up a user base and
gain useful insights about your app, as to what
works in the market and what doesnt. Using this
information, app developers can mould the app
according to user needs. They can also make
decisions on which features to add or remove,
what aspects of the app will boost ROI more etc.
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Cost Effective
By starting out with an MVP, you can distribute
the app development costs over a period rather
take a huge risk altogether. As you become more
informed about the market demand and user needs,
you can invest in features which are more in use.
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Less Time
It takes much lesser time to build an MVP app
rather than designing an app with fully loaded
features. Once the MVP app is designed, developed
and tested, it is helpful to gather user feedback
from testers while creating the final fully
featured product and for adding additional
features. The traditional methods of a big app
launch are long gone. Coming out with an MVP
first is the way to go about these days. The road
can be a bumpy one as you might have to get rid
of certain features and add some new ones.
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Common Pitfalls of MVP
Your MVP must be better than any other product
that your potential customer has used. If your
product is too minimal, then even that could
create a problem. Make sure you are adding the
requisite number of features to your MVP app. You
need to understand the value addition the market
would be expecting from your product. If you get
the right picture in the beginning, then creating
a full-fledged product will become a cakewalk for
you.
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Examples of Successful Products That Started As
MVPs
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Dropbox - It started off as an easy to use file
sharing tool. The team started small, created a
simple website and added an introductory video,
explaining the application. Ultimately they would
have to do a lot of work on the product and
integrate it with platforms like Android, iOS and
Microsoft, but what they were able to do with
their MVP was to quickly gain acceptance for a
product that was unique back then in 2007.
Airbnb - Airbnb was another unique concept that
was unheard of when it started. It helped people
find reasonably priced rented accommodation
across the globe. In fact, it connected with
those who had accommodation and those who needed
accommodation while travelling. The concept
started off when Joe Gebbia and Brian Chesky it
founders, gave their flat on rent for extra
income. The app was first built on an MVP model,
and all the initial work was done manually.
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Buffer - Buffer is another remarkable product
that was launched in its MVP form first. Joel
Gascoigne came up with the concept this social
media automation tool at a time when social media
marketing was picking up. The tactic used by
Gascoigne was to develop a landing page and to
work on building subscribers for the business.
Buffer soon got widespread acceptance, and
everyone knows the results.
LinkedIn - The products initial version was
launched in the year 2003. The product, back then
had a few features, like profile creation,
searching for users, inviting users to connect
and a summary page of your connections. LinkedIn
initially allowed you to send connection requests
to only those people whose email address one
knew. The endorsement feature too was added a
little while after the product was launched in
its MVP form.
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How to Develop a Successful MVP?
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Strategise
It is important to have a strategy in place for
your minimum viable product, to be able to get
the best of the results from it. Yes, you surely
need to go fast, but the planning has to surely
be in place so you can ensure you are in the
right direction. You need to write down the most
important features of your product first.
Understand your target audience and then
prioritise those features that you know your
audience would buy in.
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Create a Landing Page
A landing page is crucial to promote your Minimum
Viable Product. You can redirect the landing page
visitors to the app download page. You can run a
paid campaign on Google and Social channels to
promote your MVP landing page and get your
initial downloads from there. You need to
highlight the USP of your product on your landing
page with a compelling headline and call to
action. You also need to explain why your product
will be useful to your audiences and can even add
a short video that talks about the product and
your vision going forward.
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The Product Should Not Feel Minimal
You, as a business owner knows that you are a
creating a Minimum Viable Product but, the end
user should certainly get the experience of a
full-blown user-friendly product. You should
ensure that the service provided manually, is
impeccable and there are no bottlenecks in the
product usage. The success of the product largely
depends on how well it can add value to delight
the users. You need to ensure that the core
functionality of the application connects with
the audience and gives them something unique.
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Analysing the Feedback and Validating The Idea
Validating the product idea is crucial to the
success of your product and its future
iterations. You need to examine the market
feedback on two levels the idea, that is the
core functionality and the usability and the
experience. If the MVP version of your app is not
getting positive feedback, it does not always
mean that your app or business idea is flawed.
There may be chances that you can improve upon
the usability of the application and go back to
the users with some significant tweaks to start
getting positive results.
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Thank you!
Source - http//enterprisemonkey.com.au/blog/why-
you-need-to-build-an-mvp-app/