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 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. A minimum viable product 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 customer feedback and validating assumptions.

We believe that minimum viable products 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 Development Services

We know what minimum viable products 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

Faster time-to-market

As an MVP development company, we’ve met countless clients who prioritize time-to-market very often. Minimum viable products 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 minimum viable products 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 early customer feedback and suggestions. That’s why minimum viable products 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 target market wants and make wrong products. Minimum viable products reduce this risk by allowing companies to take a sneak peek into their future.

Ability to adapt based on user interactions

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 Minimum Viable Products in Healthcare

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 a minimum viable product 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 minimum viable product, 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 MVP Development Services

Startup MVP development services are 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 minimum viable products 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 MVP Development Services

Developing a minimum viable product 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

In-House vs. Professional MVP Development Services

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
• 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 Partner?

Now, if you decide on hiring a minimum viable product 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 a flexible MVP development team and proactive collaboration practices
• Partner up with professionals who offer ongoing support and maintenance

Takeaway

MVP development services can help you understand whether it’s a good idea to launch a full-scale product and whether your idea meets market needs. If you’ve decided to get bespoke MVP development services from professionals, we recommend working with professionals who use an agile development approach and have experience in diverse industries. Glorium Technologies offers comprehensive MVP development services in USA, Canada, Europe, and other regions. We’ve helped companies like yours achieve success and fast time-to-market and can help you, too.

We offer a streamlined product development process, professionals with years of experience in MVP solution development, a mobile app development team that creates seamless user experience, and a development 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 become your partner and take every step toward a successful launch right there with you. We include thorough research and clear and transparent communication, and we don’t stop working on your product until it’s developed and maintained to perfection. So, schedule a free 30-minute consultation with our experts to discuss your product idea, ask questions, and get a personalized roadmap.