From buying groceries to booking world trips; we are addicted to using mobile applications and the gamification models offered by successful startups. With a click of a button, we can also control our smart home appliances to intelligent military drones!
The startup industry of mobile application is booming around the globe. But, converting an idea into application takes many resources. After the concept, most of the actions would be based on the assumptions you make and work on data which you might have extracted from an online research by a company working on consumer research field. It might go completely wrong! Consumer research data is not equal to what customers are expecting or willing to use on their mobile devices. Feature list for the customer could be subjective, though trying to serve what you want could end up hurting your business plan and revenue streams in the very beginning.
Why do you need an MVP app?
An MVP or minimum viable product is a version of your product which has enough basic features to satisfy the needs of your early customers and provide you feedback for future product development.
Building applications is not easy! It takes a lot of resources..
Every user has their personal needs and preferences for features and you cannot attract or satisfy everyone in one go. Creating an application is just like baking a cake for your kid. You have to make sure that the sponge or the base material of the cake is as per your kid’s liking and then you can add icing and sprinkles on the top afterwards.
Here are some reasons why you need an MVP app
Test your business assumptions
Once your MVP is live with all the core functionalities you want to offer, it lets users interact with your core business idea. Now, this thing is crucial, as users are interacting with an application that does not have a lot of bells and whistles, but if it solves their core problems – they will keep using it.
These feedback and data are essential, as they would help you figure out if your ideas are something the audience is interested in, the assumptions you took before launching your MVP, how accurate were they and whether you should go forward in the next phase of development.
Minimal resource wastage
With an MVP deployment, you are making sure you hit that first core idea in the market. Now, with less add-on features on top and lesser third-party integrations, you are not wasting much time & money. Also, at the same time the employee working hours are not wasted in planning, developing and launching a full-fledged product.
With lesser features on the top of your core idea, you would not end up wasting a lot of time, money, energy and human resources. With less money invested in API & features development, you would be able to gain insight for your core idea.
With an MVP, you are making sure that not a lot of third party tools and collaborations come into the picture to get a share your revenue streams.
Helps to make decisions
All the data and feedback you would collect from your early-stage end-users would help you plan your marketing, growth and sales activities. The way users interact with your MVP, would help you to be ready with serving them better UX and features. It also helps you plan sequential stages of your future development.
Not only that, but an MVP would also let you examine and explore the market size and market trends you are dealing with. That would also help you measure how your competitors are selling in the market and where you would need to add value to make your product a success.
Who does not like to invest in early-stage well-performing startups? A successfully running and performing MVP would be able to attract a lot of interested investors to your business.
A successful MVP would not only help you to pitch investors with your data, but will also showcase your efficiency and team effort. Early-stage user feedback and online reputation would also help them evaluate your product. It would also ensure that the funding you would gain from the investors would stay safe.
User learning curve becomes easy
While making your way to the market, you need to educate and make users understand how your application and its features work is an essential task. Your UI could be better than your competitors, but what about your CX and UX? Over the period, mistake and feedback, you understand how a user is ignoring or adopting your new features.
Often, users adopt the UI of your application, though once you start pushing in new features, promos, integrations and other features, they start getting confused about using your application with ease. Once you process the data collected from smart A/B testing in your MVP, you can make your UX and CX better with the next stages.
While your business plans and market demand looks like you would go well and become the next unicorn startup, though reality might differ. To make sure, your idea does not burst and you go ahead steadily, it’s always a good idea to get your MVP developed from a professional mobile application development company.