How to Build An MVP That Raises Money For Your Mobile App?

Mobile applications are the centerpiece of digital convergence. The rich and interactive experience we get on mobile apps has created new standards for the growth and digital expansion of companies.

If you are reading this, you probably have a good idea for creating a new mobile application for your business too. But wait, you are not alone. We are already sitting on more than 5 million plus official apps used by 6.3 billion smartphone users.

So what does your idea portrays that others don’t? We realize you do have a unique app development concept that can move the market. But do you have funds?

To meet the expense of app development, business owners require serious funding. Business owners and entrepreneurs avoid going all-in with just a new idea. They prefer to test and validate the product. An MVP is the solution for such an approach.

What is an MVP?

The MVP or Minimum Viable Product is a product with enough, not all, features to resonate with the customers and analyze the potential in the market. It helps companies validate the product idea and forms an important part of the development cycle. The MVP also helps gather user feedback quickly to iterate the application.

MVP Building basics

Building an MVP wisely can ensure that you are on the right path to success. The approach can avoid failures and increase profitability by creating the minimum viable product. Here are some of the basics you need to tend to while building a fund-raising MVP:

Create Prototype

The rapid prototype of the MVP is the starting point of something big. The step is vital as it helps integrate the app features and user flows into a tangible mobile application. Here, you have to use one or two essential app features and create the MVP prototype that triggers the user experience. Wireframes and high-fidelity mockups are included. All screens are connected to imitate a real-life app.

User tests

The fundamental goal of the prototype’s creation is to verify the app concept with real users. This leads to the subsequent process of user tests with the application. Here, users are enrolled as per the demographic criteria for the target audience and then asked to check out the prototype. Subjective feedback is collected and the reactions are monitored while using the MVP. The sessions are recorded and essentials verified that further help improves the prototype.

Note that no money is being spent here. You are actually progressing without spending a buck on the MVP.

Coding

When the prototype is accepted by users, it is ready for coding. The app developers or the development team come into the arena and start fleshing out the MVP. Codes are written and third-party solutions, as well as APIs, are integrated.

Also, this is the part where MVP is checked for technical feasibility and cross-device functionality. The critical step of coding lays the grounds for successful application development. Teams take their time to enhance the scaling and integration ability of the application.

Testing

Even without proper features, the MVP app still represents the name of your company. Hence, it makes sense to test it thoroughly. While companies need not go for full-scale testing, it is important to account for stress and functional testing.

There might be lots of bugs in the features that may be uncovered in this step. Testing also ensures that the app is working smoothly regardless of the number of features it has. You do not want your users to experience a gimmicky MVP that drops down the impression from the first instance.

Deployment

Almost every box gets ticked at the later stages of testing. It is time for deployment. In this step, the companies make the MVP publically available. The app is moved to the production environment and then uploaded to App Store and Google Play.

The Takeaway

As you can realize, a flawless MVP can bring the funds a company desire to commence full-fledged production of the app. While MVP is an important part of the process, things are just in the first phase with this step.

If everything is done right, the MVP will surely catch the attention of millions of users.

The behavior data of the user along with feedback can help prioritize features for later updates as per the validated analyses from the customers.

In a nutshell, MVP ensures that you are not scratching the surface again and again. It offers a scalable and extendable solution to raise money for your mobile application.