In certain industries, it is important to test a potential business model in the market to see how customers react before the final launch. This saves organisations from spending time and resources on a failed model while also helping to figure out where the opportunities lay. For this reason, the concept of a Minimum Viable Product was invented where an easily designed prototype could be tested to figure out how the idea would seem in actuality.
What is an MVP?
A Minimum Viable Product (MVP) is a product with enough features built in the initial phases of development to draw in clients and approve the idea for a project. An organization may decide to build an MVP to test a strategy with prospective long-term clients prior to committing to a long-term financial plan. In a business that provides programming and app development services, an MVP can help developers to get relevant inputs from clients and brainstorm on those inputs, so as to improve the end result of the product. Following its nomenclature, an MVP is essentially the first prototype that is built in a financially feasible way, providing just the core features required for testing. Altogether for a product to be termed viable, it should permit clients to finish the whole assignment or task that it was intended for, all while providing a top-notch client experience.
Why do we use MVPs during app development?
In situations where customers have an ambiguous idea regarding the outcome of the venture, developers may offer MVPs, allowing both the parties to contribute and rally ideas to get a clearer picture as to their requirements. In situations where it is impractical to put up massive funds or in case one would just like to test out the core features of the app, an MVP is the way to go as it simply has the fundamental features required for a fast test and dispatch. It should not just have the core features, but also convey the core idea of the application, with the minimum required features. In view of the data acquired from this investigation, the team proceeds to amend the idea, or discontinue the project as per the initial conversation. An MVP also helps in determining the marketability of the product and plays a huge role in product development.
Another important reason to include the MVP phase as the first, in some case related projects, is to get a fair idea of the legal implications that could arise from the end result of the product. Some apps, especially those built for domains like healthcare, education, government use, etc., may have to adhere to certain statutory requirements which arise due to the sanctions that have been set for reasons like public interest, protection of personal data, national security, possible problems relating to the sovereignty and national integrity of a country. In such cases, MVPs are the way to go, as each feature can be tested, checked and improved on, in order to comply with such statutory requirements.
By making and testing a Minimum Viable Product, you can:
- Check whether the item is what’s being expected from the client
- Aсquire a potential client base and check the marketability of the product.
- Save time by ensuring you're putting resources into a venture that is probably going to be effective.
- Positive outcomes at the MVP stage give the green light to work on the end result of the project.
- Ensure better financial planning as anything past core features required for testing is excluded from the Minimum Viable Product.
- Check if the application is complying with the legal requirements of a region.
Using Agile Methodology for MVPs:
Agile Methodology is a popular technique employed in the industry of software development. It assumes partitioning the undertaking into smaller parts using iterations which complies with an MVP’s primary goal of receiving feedback before proceeding to the next phase of development. The consequence of every iteration is a working piece of programming that permits gathering of input, breaking it down and pushing ahead with a clearer idea, hence promoting a more efficient development process. Using Agile methodology for building MVPs makes it easier for an app development organisation to work on their client partner’s demands and requirements.
MVPs developed by GeekyAnts for various industries:
We, at GeekyAnts, believe in delivering the best services and experience possible to our clients. We strongly feel that collaboration and working closely with our partners and being receptive to their feedback is what has helped us succeed in this endeavour. On multiple occasions, we have built MVPs, constantly working with our partner’s ideas, to build products that are truly unique and at the top of their field. Read on to understand more about this:
- Liviit reached out to us to rebuild his company’s web application as well as add on a mobile version. The app was a reimagined social media platform integrating all facets of modern lifestyle, i.e. work, school, life, community, family and friends. We set to work closely with our partners trying out new ideas and working on multiple designs to create the perfect MVP which would bring the idea to life. The client who was extremely happy with the result joined us on a long-term mission to rebuild the Liviit app and has lauded up for our expertise and the professionalism displayed during the association.
- At a time and age where concerns regarding privacy on the internet are rising, the pioneers at The @ Company reached out to us to build the MVP for a security protocol app they had in mind, named @mosphere. The goal of the app was simple; to provide internet users with the gift of data privacy online. As the app was a fairly new idea of its kind, the purpose of the MVP which was built in four weeks was to display its core features in order to get a feel of the application. Our partners were pleased with the product they received, and have since collaborated with us for multiple events.
- We worked together with Greenr on their noble undertaking to track the carbon footprints of users who can then make individualistic lifestyle change to combat climate change. It was important to fabricate an MVP via which they can assess the feasibility of the idea and how the app would interact with potential users. The successful prototype that had been built was to seek collaborative investment and has since been developed into a full-fledged application promoting a greener and sustainable lifestyle.
- Marigold Health approached us with their unique and noble idea of creating an application which would serve as an online forum for those facing mental health issues. As the app would be one of the first of its kind to exist, it was important to fashion an MVP to see how the idea would look in reality. The prototype was a success and we have entered into a continual contract with Marigold with brand-new features being released on the final application at regular intervals.
It's been a while since app development companies have started using MVPs in order to ascertain the marketability and further improve the product. We, as an organisation have strived to help our partners reach their business goals with our digital solutions.
I hope this article has helped you understand MVPs much better. Hope you had a nice read!