Countless apps are released in the app stores on a daily basis. However, a very limited number of these apps sustain. What could be the reason behind this? The truth is that the majority of these apps are haphazardly built and launched without proper testing. After a few downloads, these apps end up becoming obsolete. This brings us to revise the whole process of app development and launching. Perhaps, there should be some kind of a testing or sampling system before fully launching an app. This is where the concept of Minimal Viable Product (MVP) comes in.
What is an MVP?
An MVP is that version of an app that is released in the market before the final app in order to validate it from the customers with the least effort. The MVP makes sure that the final version of the app goes well. It offers the basic or essential functions of an app which are made through minimum coding and customization. Building an MVP can also save a company from the overhead development costs of their app. App development companies usually offer services for building MVPs.
There are usually two approaches for mobile app development; the traditional approach and the MVP approach.
The traditional approach has a lot of loopholes; for example, it is a rigid process, has poor testing, bug issues and is slow paced. In such a case, even if you hire a proper app development company, success cannot be guaranteed. The MVP approach, on the other hand, offers a better way to deal with these shortcomings. It is a validated way for companies to test their idea with their customers. Below in this article, we have listed 9 reasons why you should build an MVP for your app before the full-fledged version.
Reasons to make an MVP mobile app before the full-fledged version:
- Gives market insights:
An MVP allows you to get your product into the market with a minimum possible investment. You are offering a basic version of the app rather than a full blown product. This will allow you to gather market insights. These include the validity of your idea, potential customers’ demographics, comparison with competitors and the costs involved. Airg reviews state that these will help you in getting informed about the market demand and user needs.
- Helps in building a brand name
With the release of an MVP, you will be able to get your name into the market and build up a customer base. When you release the full version of your app, people will be able to visualize and associate to the journey of your brand’s growth and development. These elements will contribute in the longer run for building your brand’s name.
- Lowers the cost
An MVP allows you to distribute the cost of app development over an extended period rather than taking a huge risk at once. Also, the more complicated your app is the more investment it will require. Building an MVP requires lesser money. The features of an MVP are cost-effective and minimal. You will not lose a lot of money even if an MVP fails.
- Saves time
It takes less time to build an MVP since it has just the basic features with marginal coding. Imagine you spent a lot of time in building your app features and nothing happened when you released it! Sounds like a horrible dream! You can, therefore, utilize your time in building an MVP and testing it. This will allow you to create an app that is more appropriate and user friendly.
- Helps to fix security issues
Security issues with mobile apps are quite common. You certainly do not want to spend money and effort on launching the full-fledged version of your app and later receive customer complaints regarding security issues. An MVP will allow you to identify and resolve the security issues beforehand. When you resolve these issues at an initial level, you will able to gain customer trust and increase your conversion rate.
- Helps to collect feedback
With an MVP you can have a feedback framework to work on and improve in the future. To get the maximum benefit from your MVP, collect feedback directly from the users. Identify the loopholes as pointed by the users and improve them periodically. Some of today’s top-notch apps such as snapchat, Instagram and Uber started as simple MVP versions and worked on user’s input to become better. You can avail services of app development companies such as app vertical for improving the final version of the app before launching.
- Creates a viral effect in getting customers
An MVP will help you to attract potential customers at a very early stage. These customers will tell their friends about your app, and a viral effect will be created. By the time you release the full version of the app, you will already have a strong customer base. You will also get your first paying customers who trust in your brand and its performance.
- Helps to attract investors
Money, of course, is important for any business. Before investing in a mobile app, the investors are usually highly interested to see a basic version. When you have an MVP ready with you, you will be able to show the investors your efforts, acquired customers and their feedback. In other words, you will increase your chances of investment.
- Minimizes efforts
Besides saving your time and money, an MVP will also allow you to save your efforts. Most importantly, you will be able to plan wisely and scale your business properly.
An MVP will enable you to learn a lot more about your key users with a basic version without spending a lot of money and time. All you need to do is identify the key functions of your app which should be present in the MVP. Once done, work with a development company for the execution of your project.
Audrey Throne is a mother of a 3-year old and a professional blogger by choice. Throne is passionate about lifestyle, business, automotive, technology and management and blogs frequently on these topics.
Find her on Twitter: @audrey_throne.