MVP

Today we gonna jump into the ocean of development and will try to find an island called MVP.

The definition of MVP

MVP stands for minimum viable product. An MVP product has a bare-bones design which is then tested on the market to see whether or not it has the potential to succeed.

To perform this initial testing, the product only needs the most essential functions; anything beyond minor functionality is not added. The MVP version of the product is the most reasonable tool, in terms of both time and money, to help determine the product’s potential. The MVP method can be used to develop any product, including mobile apps and websites.

Why is minimum viable product important?

MVP is needed to get the early data that confirms user interest in a product. Positive results at the MVP phase give the green light to begin developing the full version of the product.

Great examples of minimum viable product: apps and sites which started as MVPs

Foursquare — The company’s MVP contained check-ins and awards for them in the form of badges. After assessing initial user reactions, the developers started to expand the product, adding recommendations and city-guides. Today, Foursquare unites 50 million people who have checked in over 8 billion times.

Instagram — Initially, the MVP was focused on photo filters only. Users could take pictures, apply one of the suggested filters, and save them in an album on their device. Users liked the application and it has since been updated to include videos, geolocation, tagging other users, adding hashtags, and integrating with other social networks.

Facebook, Snapchat, Spotify, Airbnb, Dropbox, and many other popular products were also developed as MVPs first.

Tips for MVP development

MVP product development means finding the right balance between minimal design and maximum value. The MVP version should showcase a product’s most basic purpose and functionality. Development should be minimal, but should not deprive the product of its unique selling points.

Focusing too much on radical minimalism when creating a minimum viable product may result in a product that is unsuitable for accurate market demand research. It may even do damage to a brand’s image if the MVP version does not offer users an overall impression of the product.

There are some dos and don’ts to take into account in the MVP development process:

DO:

• Maintain minimal functionality at high quality;
• Be oriented towards big markets;
• Keep a monetization model in mind;
• Monitor and apply user behavior;
• Get into the market as soon as possible;
• Study competitors;
• Come up with a marketing plan and strategy that attracts a large number of users.

DON’T:

• Add unnecessary functionality;
• Delay market entry by trying to add features again and again;
• Forget about the product’s overall viability;
• Be afraid to start again if MVP results aren’t favorable.