MVP Development Services

The minimum viable product is an interesting solution for startups, established businesses, and even for individuals who want to test things out and experiment with new ideas. This term (MVP) was first introduced in 2001 by Frank Robinson, but the concept of testing new products on selected audiences has been used for a long time in many industries.

So, what is a minimum viable product? We’re sure you already know what MVP is, but for the sake of this guide and the benefits that are to come, let’s explain it in a few words. An MVP is a rather simple app, a solution to test the initial idea without the costs of developing the whole application. It includes core features that you are planning for your final app and serves as a starting point for future iterations by collecting user feedback and validating assumptions.

We believe that MVPs are essential for all businesses. Dropbox, Spotify, Airbnb, and other similar successful businesses are proof of this statement. They all started with minimum viable products. Not because they didn’t believe in what they were doing but because they wanted to be sure about their assumptions and ideas.

Benefits of MVP That Might Now Be Obvious

We know what MVPs are developed for. They test out our ideas and give us insights about how to change the app and so on. However, the benefits of a minimum viable product go deeper and more significant.

MVP Software Development:

• Is a cost-effective approach to final product development
• Allows you to launch your product relatively faster
• Gives you an opportunity to validate your product ideas early
• Helps gather valuable user feedback that would be unavailable otherwise
• Helps reduce the risk of building the wrong product or a product your audience won’t like
• Allows you to learn, experiment, and adapt to your customer needs

Cost-effective approach to final product development

The cost-effective characteristic of an MVP comes from its idea itself. We develop MVPs with only necessary features – elements that will satisfy early adopters. Not adding non-essential features not only cuts down on the costs but also reduces the development time.

Faster time-to-market

As an MVP development company, we’ve met countless clients who prioritize time-to-market very often. MVPs allow this since we don’t add non-essential elements in the development cycle and are able to deploy apps faster.

Early validation of the product idea

Companies develop MVPs to observe consumers’ reactions and validate their assumptions and ideas about the product. This way, they can change the product concept, adjust a few things, or develop the complete app right away – depending on the results.

Opportunity to gather valuable user feedback

What drives company success? We believe it’s the ability to adapt to user feedback and suggestions. That’s why MVPs are essential. They allow you to gather your consumers’ views of your product and services before you deploy them in a complete form.

Reduced risk of building the wrong product

A minimum viable product can reduce this risk if you analyze and monitor the results correctly. We often assume what our audiences want and make wrong products. MVPs reduce this risk by allowing companies to take a sneak peek into their future.

Ability to shift and adapt based on customer insights

And finally, you’ll have an opportunity to shift your product according to your customer insights. The thing is that early adopters will give you enough feedback to understand where the gaps in your product are, what to fix, and how to adapt. They will tell you exactly what you need to do to provide a desired product.

4 Examples of Successful MVPs in Healthcare: From Experiments to Final Product

Here are four successful cases of the so-called Minimum Viable Products, which show that the starting product launch with a limited set of features can be very profitable. These examples exemplify organisations that started with fundamental features, tested the initial demand, and built unique comprehensive solutions out from the early adopters’ feedback, thereby laying a successful precedent for tremendous growth and dominance in this sector.

Zocdoc: At first, Zocdoc was mainly an application that helped users search for doctors within the vicinity who were willing to accept their insurance plans and make appointments electronically based on the search results. This feature met one of the main concerns of stakeholders, namely, the search for an appointment with a healthcare provider. It took them time to build credibility for their market and thereby began to integrate other features such as reviews of doctors, alerts/reminders, etc.

Teladoc: Initially, they developed an MVP to connect patients and doctors for non-urgent cases. This “experiment” allowed this telehealth company to prove that there is a market for remote medical assistance, which served as further proof of the necessity for expansion.

PillPack: PillPack, before its acquisition by Amazon, began as a minimal viable product of an online pharmacy that helped patients organize multiple prescriptions for the day through the delivery of pre-specified dose packages with date and time information. It was this simple and easily understandable business model that drew early consumers, thereby resulting in fast growth before it was acquired.

Theranos (a cautionary tale): Theranos is an example of how a compelling product can still fail without a professional approach. Early on, still a true MVP, Theranos kicked off as a company intending to revolutionize the blood-testing business with technological devices. It attracted heavy investments, but failed to maintain quality assurance. This once again emphasized the need for transparency and cooperation with a top MVP development company with industry-specific experience.

How Startups Benefit from Developing MVPs

MVP, as a lean startup methodology, is essential for testing the waters, attracting early adopters, and making sure you’re not developing the wrong product with a tight budget. Startups often launch MVPs to:

• Test the market demand for their business idea
• Interact with real users and gather feedback
• Change and adapt quickly
• Avoid risks associated with building a full-fledged product
• Establish their business foundation

How Established Businesses Benefit from Developing MVPs

Developing MVPs isn’t strictly for startups. On the contrary, many established businesses benefit from the MVP approach when introducing new products and services. MVP software development allows them to:

• Experiment with new ideas without significant financial risks
• Validate market demand before launching the final product
• Stay flexible in the changing market
• Promis innovation and improvement to their loyal customers
• Reduce time-to-market and launch their product before their competitors do

Should You Develop MVP Yourself or Work with an MVP Development Company?

We can’t say this is an easy question to answer. Of course, as an MVP development company, we recommend working with professionals who have cutting-edge technologies and a deep understanding of market demands. However, your decision depends on various factors.

An experienced MVP development company offers several advantages:

• You will have access to dedicated developers with expertise in MVP software development
• You’ll use resources efficiently and accelerate the development process
• You’ll receive objective insights from industry professionals
• You will have access to cutting-edge technologies and tools for minimum viable product development

How to Choose the Best MVP Software Development Partner?

Now, if you decide on hiring an MVP development company, you’ll need to choose the most reliable and experienced partner. To assess these companies, you’ll need to follow this guide:

• Ensure they have industry-specific experience and proven track record by analyzing their case studies
• Make sure they align with your business goals and understand your target audience via thorough research
• They should have an extensive technology stack
• Assess their communication and collaboration methods
• Ensure they’re able to provide flexible team and collaboration methods
• Partner up with professionals who offer post-launch support and maintenance

Takeaway

MVP approach is a systematic and efficient way to check whether it is worth it to launch a product, what clients think about it as well as using feedback in the continual enhancement of services. By partnering up with a leading MVP development company like Glorium Technologies, you’re paving your way to a successful and faster time-to-market.

We offer a streamlined development process, experienced mobile app developers, and a team capable of meeting customer expectations. But our services are more than just a team of professionals who understand the need to validate your product idea. We include thorough research and clear and transparent communication, and we don’t stop working on your MVP until it’s developed and maintained to perfection.