When it comes to developing a product that is full of unique features, the Mobile and Web App Development Companies want to complete and launch it in the market as soon as possible because of the tough competition. The majority of entrepreneurs avoid developing an app that is basically a copy of an already existing app or product in the market. From newly-established start-ups to the organizations that hold ears of experience in the field, wants to design and develop a product that is new and can be easily adopted by the majority of the population in their daily routine.
The end-users always look for something that’s different and unique in the product as that’s what grasps their interest. Let’s take an example that two entrepreneurs or company’s executives come up with the same idea and at the same time. In this situation, the customers will choose the one where the outcome is more relevant to their perspective. But even if you developed the product and launched it in the market before your competitor, it still doesn’t give you the guarantee that the product will be successful.
As a leading Mobile App Development Company, the focus is always on developing an app that can fulfill the customer’s demand in a cost-efficient way and yield the maximum output.
And if the product fails then your App Development Company will face a loss of thousands of dollars with several months that were invested in the development of the product. To spare yourself and your company from the misery of this kind failure, the option for MVP was introduced in the process of app development. MVP stands for ‘Minimum Viable Product’ that can be defined as the product that consists of the basic features that are required by the customers as necessary features.
These early feedbacks given by the customers will contribute to the future development of the product. Comparatively, the MVP in app development is rather lesser expensive and more time-saving procedure. Technically speaking, a Minimum Viable Product is an opportunity to test the general demand of the respective product in the market with the minimum amount of investment done in the development of product and in the shortest amount of time.
MVP is the solution to questions like ‘How can I ensure my product’s success’, ‘How do I make my app idea viable and minimize the risk of failure’. But if you want the MVP to work successfully then you need to create MVP the right way:
Here, the goal behind the whole concept of MVP is to allow the repeated interactions among the targeted end-users. In the past two years, a lot of start-up MVPs have been designed and developed using other successful; apps as role models some of them being Facebook, Uber and many more. To get large interactions enabled between the end-users, first that platform needs to make it possible for the users to interchange the values with one another.
The very first step to create a successful MVP would be to identify the core value unit for the respective platform as the main fundamental principle for every platform is to provide value to its customers. For example, as the platform of Facebook offers current and trending news feeds and Uber showcases the available rides near your location.
If your platform lacks the core value then your product won’t be able to generate a demand for it among the users. The core value is responsible for creating the demand that makes the product viable.
Once you understood the product’s core value then you can easily build the architecture around it by thinking out the core interactions surrounding the core values. The next step requires is to enable the end-user interactions to exchange the values. There are few things that need to be considered that are: the curation, value creation, value consumption and at last, the customization.
Let’s take the example of Facebook, on this social media platform one would be concerned with maintaining the constant flow of the latest and trending news feed. So that the user can be aware of his/her family or friends feed, this will enable the process to built interactions with the respective user.
SOLVING THE PROBLEM
The targeted audience is that portion of the user’s that is relevant to your product, these users can be attracted by a lot of ways like promotional activities, advertisements or even App Store Optimization a.k.a. ASO. Now, the issue is to know what will be the first thing to work upon: who will be getting the higher priority the consumers or the producers?
These steps will guide you through the process to develop a successful MVP app. Edge interactions are mandatory to improve the quality of the interactions between the consumers and the producers.
There are also reasons why the MVPs fail and some of them are mentioned in the following:
When it comes to building a product or creating a platform, what entrepreneurs don’t consider is the facts that how to constantly keep the user attracted to their product. This lack of focus of a company may contribute to the MVP fail.
If the base business model is unclear then how the further process can take place effectively. This is one of the most commonly done mistakes while developing the MVP. The entrepreneurs need to clearly understand the business model and then work on the further strategy.
As more start-ups are entering the market by introducing with their MVP apps, what they need is ‘The One’ feature that makes their app superior to other competitors. In place of loading your app with a large number of features, aimed at defining a single amazing feature that can enable the interactions among the users.