Many companies tried to many months or years to perfecting the product without ever collaborating it with the customer’s perspective. Ultimately, they fail often because they didn’t speak to their customers whether the product satisfies their needs or not. This affects the time and also cost of the company. Due to this, company might face the loss. Companies can create order, avoid bugs, and develop product suitable to end-consumers needs without investing more time, cost and efforts. The solution is Minimum Viable Product.
What is Minimum Viable Product ?
A minimum viable product (MVP) is a development technique in which a new product or website is developed with sufficient features to satisfy early users. After considering the feedback from the product’s initial users, a complete product is designed and developed with final set of features. The Minimum Viable Product(MVP) allows you to test the product in the real market conditions and with the ordinary customers. It helps to analyse product’s performance just by developing a partial product. It consist of only the necessary features and options that allow the company to release to the market.
Purpose of developing Minimum Viable Product –
The purpose of an MVP is to dispatch a product quickly, based on your idea, with a small budget. This allows to collect user’s feedback for primary release of product and also include it in future iterations. Building an MVP results in analyzing what your business is offering to users and what users actually need. An MVP helps in getting the quality feedback from users and focusing to build a quality product.
Considerations for developing Minimum Viable Product –
1. Identify the target audience-
It is important to analyze that who will use the system? end user or a specific market. The included features should be simple and efficient, if the app is going to be developed for a generic group. Due to this, end users can easily use it. For eg., e-learning portal developing for students . In such cases the product should be easy to use as the students will use it. Consider that students are the users of social media. In such cases, you should enable the sign-in functionality for logging in through social networking platform. If the product is developing for the administrative perspective it should include the detailed functionality as the system will be handled by the expert.
2. Identify budget and deadline-
As suggested, MVP is a process and is typically iterative. It’s not the final product. It is necessary to launch the MVP at the right time by taking account of the level of competition in the market and changing business requirements. So if MVP is not released at the right time, the features in the product may get outdated and your product might have to face the loss. The budget given to create MVP should be considered for deciding which features to include in the product as per the allotted budget. Identifying budget is also an important factor in a context of developers, because complex features needs to be developed by skilled developers, and they cost more than usual. In such cases identifying the budget is a key factor.
3. Identify most valuable features from end users perspective-
It is attractive to create an application which has essential features, so it becomes necessary to focus on the features which are considered to be the most valuable by end users. In short, your product should reduce the user’s efforts to achieve the goal. Consider the below questions to identify most valuable features.
- What problems are experienced by the target audience?
- Which features you should develop to remove these problems?
- For what reason would they need the features to be developed?
- Is there any solution already available in the market with the specific features?
- What is missing in the existing solution available in the market?
4. Implement as per current trends-
An MVP with old features and trends couldn’t stand out in the market resulting in the major loss of company. An MVP, you are developing should be simple, also it should not make trouble to end users to handle it. Don’t implement the multiple ways of doing the same thing because this could confuse the end user.
Now-a-days there are continuous changes in UI/UX standards so it is essential to keep up to date with new trends in the market. For eg., initially in mobile application, most of the clients required to have curved graphics in their applications because the trend was towards bigger and wider screen sizes. In contrast, now it is completely replaced by flat controls and material design standards as the trend turns towards user-centricity. Also large graphics are now out of trend because they don’t have the ability to scale as per the changing screen resolutions. Therefore, it may lose the quality. Now vector graphics are in trend. So, this graphics used more widely.
5. Attract users to use the system –
Traffic is a helpful measurement to anticipate achievement. Engagement empowers you to measure the current value of the product and also the future value. As a result, this helps you to improve the user experience in final product delivery. Whether your product is for sometime or for a long time in the market, you will not succeed until you attract users to use your product. It is easy to say but hard to do. Attracting users can be difficult and challenging, and time consuming. To make it easy, it is good to use functionalities that attracts users to use your product.
6. Measure everything about the product-
Remember 3 key points-
- Always listen to your users.
- You are building products for the user’s benefit.
- Never hesitate to ask your users about what they want.
You might have been saved the details as they are necessary for the future implementations. There also have some good data point for launching the future releases-
-How users interact with the system?
-which are the most interesting features liked by users?
Such a data helps to build, measure, learn and develop the product. Due to different user commands, it is necessary to measure and analyze how the product is performing in the market. What is missing in the current product and also, what needs to be developed to attract the end users, these two points helps to analyze and develop an efficient product.
7. Use pre-launch page and market the product-
Normally, on the off chance that you need your item to succeed, it is very imperative to spread the news about the item and contact the most extreme end clients and this would be a key to it. For the most part, organizations forget to showcase their MVP and kept promotions for a later stage. This can be a wrong decision for the product. Because it may affect the number of end users of a product. Along these lines, to state, an item may have a tremendous interest in the market however clients may not know about its accessibility because of insufficient showcasing consequently driving the association to trust that there is no market for the item. So use pre-launch showcasing and market your market is the key factor in marketing your product before it launches.
Following these considerations, while developing your MVP, it almost nullifies the possibility of product failure. Every organization should adapt the MVP. Finally,
Recognize problems + Overcome them + Right approach = Successful minimum viable product (that has maximum acceptance)
Are you looking to develop software that will represent your business? Hire dedicated developers to develop and manage web development by developing Minimum Viable Product. We believes in the effectiveness of MVP for a business. Connect with Solace and get a free quote for web development that will helps your business to stand out in this wide market.