What Comes After Developing an MVP?

So, you’ve finally figured out what MVP is and how to build your MVP, and now you have a complete MVP in your hands. But now you might be thinking, what’s next? What comes after building the MVP?

We’re here to answer that burning question in detail. Today we’ll discuss what’s next after MVP and how you can elevate your product development process. Before doing so, let’s start with the steps to determine if you’re ready to move to the next phase.

Questions To Ask Yourself Before Moving To The Next Stage of MVP

Ask yourself the following questions to determine if you’re ready to move past the MVP stage. The answers should give you a clear idea of where you stand.

1. Have I managed to identify my user base?
2. Have I collected enough user feedback?
3. Which function of my product should I improve?
4. Is the monetization of the product worth it?

1. Have I Managed To Identify My User Base?

Though you have already conducted enough market research before even starting MVP development, your MVP might change based on the targeted user base’s demand.

After you release an MVP, you might find that the user needs to differ a little, so you will be tweaking the product. Through different iterations of the minimum features, you finally settle on the user base you will serve with your product.

If the answer to the question is “yes,” you have finally found your user base.

2. Have I Collected Enough User Feedback?

User feedback is the most important element during the development cycle. Your users are your first and foremost priority, and gathering MVP feedback enables you to improve your product the right way.

If you start to value the feedback from potential users, they feel validated and are ready to invest more time and money into your product. They can even retain customers further down the line.

If you have gathered and acted on all the market feedback, consider moving to the next step.

3. Which Function of My Product Should I Improve?

An MVP is an endless process of constant improvement. When you have already presented the core function of your product, you will have to constantly improve said function if you want to fulfill customer demand and provide the best user experience.

But here’s the catch: you need to determine which function to continue improving. Always keep an eye out for the function the users find the most useful, and improve upon the existing formula.

If you have decided on the function, you’re set to go for the next phase.

4. Is The Monetization of The Product Worth It?

This is more of an optional question since an MVP isn’t exactly supposed to be monetized unless it’s exceptionally good, even in its basic version.

So if you have created a product that has achieved perfect product market fit, you must ask yourself if you can use your MVP for funding.

You also need to calculate if you can maintain that monetization completely, making the plan more viable. Like the questions before, if the answer is yes, go ahead with the next phase.

Different Branches Of MVP That Serve The Same Purpose (Almost)

At Impala InTech, We don’t support building meaningless products that will only drive your development cost further.

We believe in making products that provide the most value they can in that concurrent stage of development while having the potential for scalability in terms of development shortly.

Various fancy terms are used to create the illusion of difference by many software developers. But at the end of the day, all these terms point to the same thing, and your MVP should already be fulfilling the purpose these terms indicate.

For your discretion, let’s get to know these terms first:

• Minimum Marketable Product (MMP)
• Minimum Marketable Release (MMR)
• Minimum Marketable Feature (MMF)
• Minimum Lovable Product (MLP)

Minimum Marketable Product (MMP)

After your primary product has captured the attention of early adopters and a few others interested in the promotions and marketing, you will receive feedback on improvement.

As time goes on, your audience will only grow larger, and they will have higher expectations of your product. When you are meeting the expectations of the masses with your product, it can be considered an MMP.

Minimum Marketable Release (MMR)

After you improve the previous version of your product, every release you make of the improved version can be considered a minimum marketable release. This term is the same as MMP since it’s a marketable product waiting to be released publicly.

Minimum Marketable Feature (MMF)

Minimum marketable feature refers to the one function of the MVP you chose to improve and develop further because it resonated with the most users.

This is also a part of the MVP since every MVP has one core feature designed to solve at least one core pain point of the target audience. Your MVP should already have an MMF, and it’s not a different product.

Minimum Lovable Product (MLP)

Minimum Lovable Product (MLP) is a simple rebranding of the MVP when it has received various positive feedback. If you build a product that serves its purpose, people will always love it, and your idea will be validated.

The term may suggest that you evolve your product into something different, but that’s not the case. If an MVP is designed and developed correctly, it will become a loveable product.

How To (Finally) Move To The Next Stage Of MVP

Congratulations! Your MVP has hit all the primary goals, and you’ve done everything possible with the minimal versions. It’s time to create an alpha/ beta version of the product that you can present to a wider market.

Since your MVP has received positive feedback from initial users, further investment for development is now viable.

Here are the steps you should take to move to the next stage of MVP:

• Collect Customer Feedback
• Run A Product Discovery Session
• Create Your Product Development Roadmap
• Address The Scalability of Your Product
• Get The Pricing Right
• Invest In A Marketing Strategy
• Never Stop Testing And Improving

1. Collect Customer Feedback

Your customers have already experienced a minimal version of the application you built. It’s time for them to voice their opinion on what they want for the final version of the product.

You can conduct customer interviews or surveys to determine these with three questions:

• What do they like?
• What do they find unnecessary?
• What do they think are missing and want to see on this app?

2. Run A Product Discovery Session

Running product discovery sessions can help you determine other features that might increase the convenience of the users of the app you are building. The most efficient to do this is to follow the BRIDGeS method:

• Benefits: The amount of value your customer will get from the features.
• Risks: The security risks of the application when the new features are implemented.
• Issues: Existing issues during development that will affect the program.
• Domain Knowledge: Any information that will give you additional context for better development.
• Goals: Expected outcome of the features of the application.

3. Create Your Product Development Roadmap

With a mix of target customer surveys and project discovery, you can settle on the functions you want in your application, along with some extra features. It’s time to create your product roadmap.

If you have been following the best MVP building practices from the beginning, then you should already have an MVP roadmap in your hands, and this will include the following:

• Strategic Goals
• Key Release
• Key Features
• User Stories
• Complete Product Development Path
• Development Timeline

4. Address Product Scalability

To simplify the whole thing, think about it this way: what if your app was one of the most successful products overnight, and thousands of people suddenly wanted to use it simultaneously?

Do you have the resources to handle a large user base for an extended time?

No matter how big or small the scope of your product is, you should always be prepared for success and act accordingly. The last thing you want is to fail just because your product was too good for the market.

5. Get The Pricing Right

Pricing can be a big issue in the modern market. I’m sure you’ve felt it when you used a product charging too much for too little or vice versa. So, putting the right price tag on your product could make a difference.

Also, when you’re planning to monetize your product, remember that people are only willing to pay when they are sure that what they are paying will scale into a complete product with proper functionality.

So, your development must also reflect your dedication to the app.

Another trick you can follow is analyzing your target market traffic rate. Set different price ranges, and find the range that makes the most people drop off.

That way, you will have a good estimate of how much you should charge that is fair to both product owners and the user base.

6. Invest In A Marketing Strategy

People have very short attention spans these days. Unless you put in promotional efforts the right way, you won’t grab enough attention toward your business idea and, of course, your product.

Invest as much as you need to in marketing, and never stop. When you get the word out that you are developing a complete product based on a successful MVP, you will start gaining positive traction in no time.

7. Never Stop Testing And Improving

Software development is a neverending process. You will always have to go back to the drawing board to make the best improvements for a future release of your product.

Always test the waters with different ideas and monetization policies, and gather feedback from target users every time. Choose the next course of action based on the positive and negative feedback you receive, and it will work wonders for you.

To Wrap It All Up

Any startup founder can come up with a decent MVP. But most startups fail or never see total success because they need help figuring out the next step after their initial software product launch. Here’s to hoping you start taking on the market with a great product like a boss!

At Impala InTech, we are always prepared to help you with product development with our best workforce and strategies.

Are you planning to build your full-fledged product? Talk with us, and let us help you with our agile development services!

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