How MVP helps you avoid risks when creating a mobile app

The application was released, but customers did not appreciate the idea? The situation is not funny at all and even scary. No one will return the time, as well as the funds invested in the implementation of an unprofitable service. In this article we will tell you how an MVP can protect you from thoughtless expenses when developing a mobile app.

In the digital technology market, you can often find negative reviews from business owners who collaborated with companies using an outstaff or outsource model when developing an application for business. The product was implemented, integrated into work processes, hundreds of thousands of dollars were spent on it, but the desired result - qualified leads - was not received. Financial performance did not live up to expectations, and questions arise: who is to blame and what to do next?

Why is that? Negative customer experience is a consequence of insufficiently collected requirements and poorly described technical specifications. Such projects can be compared to a suitcase without a handle: it’s a pity to abandon it, because a lot of resources have been spent, and what the financial efficiency is - a big question.

Is there any solution? Sure! 

The best practice, which helps businesses understand without significant risks how much a product is in demand and automates certain processes, will bring profit and significantly reduce the budget for unnecessary expenses, can be considered MVP (Minimal Viable Product).

MVP or minimum viable product is a prototype of a future website, application or service. This is the basis or foundation of a future resource for testing the primary hypothesis and the performance of an idea. 

Simply put, this is a ready-made product with a very basic set of options, which is planned to be implemented with more advanced functionality in the future.

What tasks does an MVP face when developing an application?

Minimum tasks:

• collect primary feedback from users in order to more accurately understand the needs of the audience, the pros and cons of the product (how well the created application meets the expectations of consumers, and what they would like to see in the final picture);
• analyze the collected data;
• create and test hypotheses in this direction: what functions of the application will make it more convenient, accessible and attractive to users.

Maximum tasks:

• speed up the entry of a mobile product to the market;
• convey its value to the target audience;
• attract quality leads and make a profit;
• carry out all these manipulations with minimal investment on the part of the business owner.

MVP for business is a rational approach to creating a new service. The development of a minimum viable product protects against risks, unnecessary expenses and opens up new opportunities in the form of investments if the project turns out to be in demand at the start.

At first, companies try to allocate a limited budget in order to clearly understand that the idea has a right to exist. In this case, MVP is the best assistant.

Feedback received during MVP testing gives an idea of the success of current hypotheses and scope for new ones: which features should be excluded and which ones the audience feels the need for.

What should an MVP be?

Just like the final mobile product, the MVP must, above all, be of high quality. The client must go through the entire user journey before completing the target action without obstacles: an intuitive design, the absence of technical bugs and other unforeseen situations. Nothing should interfere with key steps in the process of using the application.

All the rough edges that pop up along the customer journey are easier to detect and refine at the MVP stage, predict potential demand among the audience and gradually add new features to increase their loyalty.

There is an unspoken rule: if the user is disappointed with the product the first time he touches it, it will be very, very difficult to return it. The client will delete the application without learning about the improvements and new functions that have significantly improved the quality and convenience of the mobile service.

What types of MVP are there in mobile development?

Quite often you can find various methods of how you can differentiate MVP based on the direction of the business, the specifics of the product that is created for this very business and the goals that need to be achieved. Based on personal experience in the field of development, we identify the following types of minimum viable product:

• Flintstone's MVP or The Wizard of Oz. The point is to manually check the viability of the idea. Let's say a client plans to create an Internet platform to receive a percentage of sales. Creating a large-scale service with personal accounts for sellers and buyers of goods will take a long time. To test how viable the product is, a simpler website is developed with the ability to list products for sellers and process orders.
• Concierge MVP. The method is based on finding out the needs of the audience as much as possible and taking these details into account when developing the product. All work is also done manually. For example, it is necessary to develop a hotel booking service. First of all, the team studies the audience and tries to follow their path to using the service independently (books rooms), and also clarifies the details and answers questions from future clients. After collecting feedback and understanding how the product should work to be in demand, development begins.
• Disjointed MVP. The method is used when the initial idea can be tested and implemented without developing unique software. Let's imagine that a company is launching an online service for selling concert tickets. Initially, all services are provided via email. And only when the required number of users is recruited, the product’s functions are expanded: sales automation, email newsletters, and a full-fledged mobile application is created.
• Product with one parameter. An application, website or program is developed with one or two basic functions that are needed to assess the demand for the service. After testing the MVP on the target audience and receiving feedback, a full-scale service is launched.

Stages of creating an MVP

Like types, the stages of creating a minimum viable product may vary depending on various factors: company services, niche, audience, etc. These inputs determine how many steps it will take to develop the MVP. As a rule, the work consists of eight parts, which also includes a marketing analysis of competitors, a description of segments, identifying the core of the target audience, detailing the customer journey, and so on. If we talk only about development, then the stages of creating an MVP can be simplified to three stages:

• gathering requirements;
• start of the first version;
• making adjustments and adding new functions.

Gathering requirements: At this stage, an acquaintance with the customer occurs: the client comes with a big idea, from which analysts highlight the main idea, describe the minimum technical and business requirements for the successful implementation of the project. The product is still presented in the form of a bare frame (without design, with the most necessary minimum functionality).

Start of the first version: What do we see here? A starting version of a working product that may be attractive to potential users. Such a product can already be tested on an audience to understand how friendly the UX/UI design is and how the main feature of the product works.

Making adjustments and adding new functions: after collecting feedback from a potential audience, a more or less clear picture of how the application works is formed. On this basis, proposals for improving the product are formed and new options are added for further testing.

What challenges does a business face without an MVP?

Let's show it with an example. There are often cases when a technical specification that is voluminous and detailed at first glance (from 10 to 70 sheets) does not contain basic functions, without which the application will only cause rejection from the user.

The most typical situation: the absence of a password recovery button on the page. Without this important option, it will never be possible to log into your personal account if the user for some reason has forgotten his data. It turns out that the business will lose a potential buyer just because of one single button, which was not foreseen at the initial stage.

With MVP, the risk of such a problem is reduced to zero. An application prototype with a minimal set of options allows you to test basic functions and highlight existing shortcomings in the primary version, assessing its demand among the audience. Practice shows that it is better to develop a product with limited functionality and a small budget than to completely redesign the application in the future, slowing down the release and losing a loyal audience. Gradually adding screens, improving visuals and increasing the necessary and cost-effective functionality based on audience requests is easier than returning those who downloaded the application and deleted it due to an unfriendly interface, long loading times, or other reasons.

Gradually increasing functionality is a rational and competent approach from the point of view of preserving the company’s finances and increasing future profits.

Budget savings + time savings = MVP

Which business is suitable for MVP?

Objectively, MVP protects the project from unnecessary risks that its owner may face one way or another. Therefore, from the point of view of importance for business, we can say that MVP is suitable for any direction and any size of the company. And for those who are just beginning to pave their way to success, and for those who have already reached certain heights and plan to maintain their position and expand.

For startups, MVP will give the right vector for product development, help save money and gain the opportunity to scale into a large and profitable project.

For mid-level companies or large enterprises, MVP is useful when introducing new options into a finished product that is already familiar to users and has its own audience.

Conclusion

An MVP is indispensable for testing a prototype of a full-fledged product and not being disappointed after the launch of its main version. It allows you to collect valuable information before the start and make the necessary adjustments, and also significantly saves time and budget. Suitable for those companies that care about financial performance and approach the final business functionality of their future service thoroughly.