Mobile app development and quality software products have become the main attraction of companies in the past few years. MVP apps are the best way to test an app idea before developing the full version of an app. They save you precious time on your investment and efforts without monitoring the results. The growing popularity of MVP apps has substantially increased the demand for MVP app services.
What Is an MVP Product?
Minimum Viable Product or MVP is a more volatile version of a product (software/mobile app), which only contains essential features related to determining the capability and market of an app. Developed without any additional features, the MVP is produced with the minimum designs and elements, whether it be for a website or a business application.
The Popularity of MVP App Development
MVP development has existed for quite some time, as every Software Solution Provider Company designs a small version of a product before beginning full version development. More recently, businesses are demanding dedicated MVP development to understand the potential of the products and their market. Market experts have indicated that MVP product development is expected to increase by about 42% in the next 5 years. However, the concept is still new to startups and industrial entrepreneurs.
Instagram, Twitter, and Uber are some of the greatest examples of successful MVP products.
How Does an MVP App Work and Why Do You Need It?
MVP mobile apps allow you to create a small version of the app with primary functionalities. They also enable developers to create stronger software products that are successful as per the market trends. Here are the main reasons why you need it for your business.
1) Save Time- Save valuable time and begin with MVP development first. This allows you to launch a simple version of the product with a large audience in less time. Building a complete version of the app is comparatively more complex and may lead to extreme technical issues and hours of development.
2) Obtain User Feedback- When Instagram was launched, it used to allow people to share their updates. However, once the app gained popularity, Instagram’s business leaders came out with the full-blown Instagram app. So, you can launch an MVP, receive user feedback, and make improvements for a more successful product.
3) Minimize Costs and Reworks- MVP apps allow you to minimize development costs and reduce the rework on a fully-featured mobile app.
4) Budget-Friendly– Startups that don’t have a large budget can get a mobile app with minimal functionality and essential features.
Determining the Essential Features of MVP
When it comes to business software, MVP app developers need to filter the long list of app features and decide if the entire list is necessary to get the most from your initial development techniques. There are different ways you can determine which features to combine in the MVP products even if you are uncertain about what features the audience will like best. One approach for narrowing down your selection is to analyze competitors and trending apps with similar services and then choose the most essential features of MVP.
As per your business and market requirements, the focus of your features should be to:
- Identify and Collect User Data
- Identify the Actions
- Showcase Services
- Enable Feedback & Ratings By User
- Real-Time Analytics
- Essential Design Elements
- Platform & Content
- Product Validity Resources
- Search Options
- Initial Implementations
How to Develop an MVP Application?
When it comes to developing an app like MVP, there are a few major steps that you need to follow to build a successful MVP for your market.
* Identify the Requirements of Your App
The first and most important step while developing a Minimum Viable Product is to identify your business needs and what a product built to serve this market requires. Analyze your customers and the current barriers that can be eliminated with your new software or MVP app. Understanding their pain points and addressing them with your product will make you stand out from your competitors. This will also help you to determine whether you need to go ahead with full development or not.
Define the long term and short term goals that you want to achieve with the application. For instance, if you have a supply chain business, your long term goal should be to reduce supply barriers and simplify the process as much as possible.
* Locate Your Ideal Users
The next step would be to understand the potential users who need a solution related to your business. Your product can serve either an organization looking for an online management solution or business looking to create an app for its online buyers. Keep the user’s perspective in mind before beginning with the development. Make a list that includes user flow, locations, user requirements, and end goals so that you can easily convey it to your developers and ensure that you don’t miss anything.
* Find a Team
This is an essential part of the process required to turn your idea into an actual product. Find a reliable software development team that understands the importance of MVP and knows what you expect from them on a technical front.
* Create A Roadmap for Execution
After you have found the right development team for your app, discuss everything from your business perspective to your end-users and the overall purpose of developing the application. Based on your requirements and their experience, your developers will start the development process by creating a roadmap.
This map will assist in the initial definition of primary KPIs and the fundamental steps to focus on in the next version of the application.
Your product roadmap should include:
- Your strategy for prioritizing key features
- Execution plan
- Aligning internal stakeholders
- Discussion and task allotments with the team
- Development barriers and solutions
- Customer-centric design
- Increasing lifetime value
- Product discovery
- Communication and progress status
By the end of this process, you should have a clearer idea as to how the development and launching of the MVP will proceed.
* Prioritize Features
MVP app development leads to evaluating the actual minimum, which calls for considerable research and planning. Apart from all the technical rules, this is going to require a substantial time investment from both the development team and the business owner.
There is a simple process you can follow to define the most important features for your MVP app:
- Create a summary of your application that includes its purpose and its achievements as expected
- List all the information that a user will need to use the MVP for the maximum benefits at every step
- Prepare a list of all the features for the full version of the app
- Shortlist the critical features that are required to complete a user journey without any hassles
- If possible, choose the win-win features that will be most loved by users and you are ready to execute
* Create the MVP
Once the development begins, your developers are skilled enough to handle everything from designing the landing page to choosing the right interface for implementing all the features and functionalities. Narrow down the development to keep it MVP and be sure to add the latest features that provide the right insights and make your product useful for the end-users.
* Launching & Post Development Activities
The next step after the development of your MVP is to introduce it to your potential users and launch the product after fixing all the bugs. Let the users get into the app and analyze it carefully to see if the product is functioning from a business perspective. You should also leave room for feedback so that you can learn how to add more value to the existing features and the final version of the app.
Development Cost of an MVP Mobile App
When it comes to MVP mobile apps, the cost depends on various factors aside from the purpose and size of the business. There are a few companies that offer separately dedicated MVP development services. Other companies will instead make MVP development a part of the process while creating a full version application. Below are some of the major factors that determine the cost of MVP development.
1) Whether you are hiring freelancers or an expert company
2) Business purpose and app purpose (organizational, startup, eCommerce, industrial, website, etc.)
3) Design and development elements
4) Location of the company you are hiring
5) Project timeline and essential features
If you are looking for an MVP product like Instagram, you need to be ready to invest between $40,000 to $90,000. However, if you hire a company with substantial development experience and a robust project portfolio, it should cost you between $15,000 to $40,000 depending on the scope of work and business vertical. Freelancers charge around $15,000, but most businesses don’t rely on freelance resources when it comes to critical projects.
Choose The Best Software Development Partner For Your Business Apps
And now for the main question: Where can I find the right mobile app development company in USA?
Fortunately, you’ve landed in the right place. Our developers at ConsultingWhiz have designed a wide range of software development services that exactly match your expectations in terms of business app development. There are situations where companies fail to get the right insights from an MVP app due to the lack of understanding and technical skills. No matter how complex your idea may seem, we have the right expertise to create unique MVP mobile apps at the most affordable cost. From conceptualization, design and development integration, and launching your MVP app, we maintain the highest standards and provide advanced mobile app development services for our global clients.
Mike is the founder of The ConsultingWhiz, he is expertise in the Software industry and has 12+ years of experience in Mobile App, Custom Software Development & Technologies that support SaaS Based Companies.