Apps like Uber, Dropbox, and Foursquare might be very popular today. They might be installed on almost every smartphone. But they did not start big. They all started out as MVPs (minimum viable product). MVPs are often misunderstood. They are not incomplete apps. They are complete apps with all the basic functionality included in them but released as a very basic version. Once the app gains popularity and gains its first round of revenue, the same can be used to improve the app and add more features to it. MVPs are profitable for businesses big and small. But startups, in particular, can benefit a great deal from MVPs. We have enough number of examples to reiterate the value of an MVP for a business.
No matter whether your app is going to be a B2C or B2B app, MVP can be a great way to launch it without spending too much and still make an impact and create the right path for the future growth of the app and thus your business as well.
Getting to the point - do MVP features in an app offer any significant advantages for businesses? The answer is a straight yes! No matter which industry the business belongs to, as long as an internet presence is to be established, an app is crucial and giving app development an easier and economical approach comes MVP. Here are some of the factors about MVP that justify this fact.
1. Makes launching your brand and product quicker
In the given market scenario, we know enough about the significance of a great mobile app. A mobile app has a myriad of benefits that also included making it easier to widen your reach and establish the brand identity. This even gives you an efficient marketing channel. As MVPs are easier to develop and launch, you would soon be able to reach the actual focus group and if the MVP proves successful, if you are able to succeed in gaining the attention of your customers, it would help the business as well- because, at this stage, customer acquisition is the main priority.
2. Save some money and time when you need them
This is because these are two main factors that you mind always run short of as a startup. MVPs are less expensive to develop than a fully loaded app. This poses a less expensive way to push your product or service in the market and thus grab the attention of your focus group as well as prospective investors. Along with the reduction in the initial app development costs, you also would need less time in development as a basic level app would not take pretty long especially if you approach the right mobile application development company.
3. Get live feedback from real users:
When we talk about mobile app testing strategies, we often talk about the importance and the effectiveness of beta testing. This is because beta testing is one channel through which the app developer can get feedback from the actual app users. MVPs are more like a large scale beta testing. Where all your prospective customers would download and use the app and thus be able to give feedback about it.
4. Improvise instead of reworking
When you release a fully loaded app, if the app gets the reception you visualized, then there wouldn’t be any issue. But if the app isn’t successful, then you would have to rework on it. Reworking on a heavy app is tedious. With an MVP, you only have the basic framework laid. So adding extra features and making the app better to suit the customer segment would be a simpler task.
5. Better marketing
No marketing channel can give an actual feel of your product or service like an actual app installed on your customers’ smartphones or tablets. But what if you spend all the time and money on developing an app itself? There would be time and money constraint for focusing on the marketing of the app and the business. This particularly applies to startups that start small. With MVPs, the MVP itself would do the marketing for your app. You would get the app in the customers’ phones and then from the money saved in app development you could then devise a great marketing campaign. Also, an MVP essentially would push your proposition in the market and it would include all the basic features. There are MVPs that have seen success right in their first stage. These MVPs earn enough revenue for you to focus on the next stage of development and to add better features and make the app even better.
So, don’t postpone the app development for your business due to the cost factor. Launch an MVP instead and get your business to make its mark in the market.