MVP Development is the Best Process for Idea Validation

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MVP Development is the Best Process for Idea
Validation
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Introduction
Out of all the three tools POC, Prototype, and
MVP, MVP yields the best results and that too in
the most cost-effective manner. A Minimum Viable
Product (MVP) is the fundamental version of an
app with a minimum functionality. In simple
words, it works as that laboratory experiment
guinea pig on which the market research is
conducted. Whenever an app is still in the phase
of ideation, MVP will help to test your
hypothesis and iterate the features according to
the feedback. The next question could be how you
determine if the MVP is suitable to the app.
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Features of MVP

• MVP should be focused on a single buyer persona.
  It works well when intended to solve the problems
  of one individual. You should always avoid
  building for multiple audiences.
• It should be easy to build and facilitate a
  faster launch.
• Despite building the MVP for a single individual,
  you should take into consideration several
  feedback. It is quite likely that diverse reviews
  can resolve most of the issues.
• Take the feedback more seriously if the reviewer
  fits into the target audience of your product.
• The minimalism of MVP does not imply that you
  expect more by putting in less efforts. It should
  highlight the problems that can be solved with
  the app and how it can do so.

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Features of MVP

• This becomes all the more imperative if you have
  to overcome the competitive bottleneck in your   
       market.
• 5. It is not even remotely possible to
  monetize a failed MVP in spite of all the hard
  work. Therefore, MVP testing should be an
  important aspect of your development process.
• The objective of an MVP is to collect feedback
  and identify the shortcomings in the product. It
  is a prudent idea to limit the launch of MVP to
  fewer people.
• That said, do you know how the dating
  giant Tinder gained such a huge momentum?
• Well, it began as a simple app where the user
  was supposed to tap a heart or x to express
  their approval or rejection. It required minimal
  technology to build this functionality.

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Advantages of MVP Development
1. It is a cost-effective method of idea
validation.
When you develop a full-fledged app with an
attractive design and several features, the
development cost soars higher. An MVP, although
developed with limited resources, can still be
called a product. It costs around 5000 to 10000
to develop one, while a full-fledged product will
cost anything between 50,000 to 85,000 (which
off course will make sense if you are sure of its
market validation).
2. You can easily get paid customers from the
existing user base.
It is a daunting task to attract new users
without any paid advertisements or promotions.
MVP is a good idea for startups who are looking
forward to bringing new customers without
expending more. Read About How to Turn Your Idea
into a Multi-Million Dollar Business
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Advantages of MVP Development
3. Feedback for the product can help you iterate
and build a better product.
Customer reviews can let you understand how you
should build the features of your app. Thats why
developers usually build an MVP and seek the
feedback from the early users. It not only
facilitates iterations before the big launch but
also ensures that the product renders a flawless
experience to the user.
4. It saves your time and efforts.
The biggest nightmare for any startup is that
the product does not get enough downloads when
launched. By preparing an MVP and investing in
receiving genuine feedback, it will save the
developers time and also mitigate the likelihood
of failure.
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Advantages of MVP Development
5. Getting funding becomes effortless.
An MVP, if done right, can bring investors to
fund for your startup business. Building an MVP
that aids in the monetization of the app is
better than developing the final app that hardly
gets any funds. You can approach platforms such
as Kickstarter, Indiegogo, AppBackr, etc. to fund
your apps.
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About Techtic Solutions
Tons of people are talking about the
effectiveness of an MVP and several successful
entrepreneurs endorse its execution. Uber,
Instagram, Snapchat, and several other apps
started off with simpler functionalities and
evolved to be huge successes- all thanks to the
remarkable minimum viable product they
crafted. Your app can be the NEXT. Hire a full
stack development company with proven experience
in building minimum viable product that helps you
impress your target audience and investors
alike. Techtic Solutions has been in the
forefront when it comes to offering strategic
support to startups with not just mobile app
development services, but also in guiding them
with end-to-end MVP development across industry
verticals from Travel, Chatbot, Healthcare, to Mar
ketplace applications. So, if are you ready to
make the BIG move with minimum viable
product, get in touch with our MVP expert. You
can also hire full stack developers to work
exclusively on your MVP project.
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Contact Us
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