Building an MVP is the first step and one of the main stages in product development, allowing you to test your business idea in practice and get closer to realizing the overall vision. However, what comes after an MVP? What steps and mandatory actions should startups take to turn their idea into a successful product that meets the requirements of their target market and user expectations?
Let's say you've released the first version of your product, that's one half of the equation. Now, you need to focus on the other half, which is observing, analyzing, and planning ahead to understand where you need to go next to turn your MVP into a full-fledged product and expand your user base.
In this guide, we'll look at the practical steps after MVP to ensure progress, avoid mistakes, evaluate the product's value, and test the MVP to determine if you've succeeded.
What Comes After MVP Creation
An MVP or Minimum Viable Product is undoubtedly the first crucial milestone in product development. Having an initial version of your product, you can already investigate and prove the idea before your startup can fully enter the market. In this regard, the MVP stage provides a number of benefits:
● Validation of the idea & the MVP concept
● Creating a base of early adopters & supporters
● Faster time-to-market
● Easy-to-budget modifications
● Improving user experience
It is essential to understand that developing a Minimum Viable Product is not the ultimate objective, but it does get you closer to your core vision by allowing you to test the concept and evaluate your product in terms of how it can solve user problems. In this case, a product with only minimum features is an ideal opportunity to get customer feedback and notice aspects you might have missed before.
Another important thing that comes to light after the MVP phase is the assessment of whether it makes sense to develop the existing solution and project further, or whether it is worth changing the concept or even ending the project. Unfortunately, sometimes only after the release of the MVP can a startup realize that the idea has no future or requires radical adjustments, which means returning to the starting point, but with a longer list of requirements.
However, if all goes well, the next step is to focus on strategy and future steps. The main aspects at this stage are updating existing and rolling out new features, as well as moving towards creating a minimal marketable product (MMP), which, although not containing all the features, is of higher quality and is ready for market entry and implementing a monetization strategy.
The process of transitioning from MVP to MMP requires a lot of work to improve the early version of the product and make it profitable. Your software must be relevant to the market, stable, and productive to ensure MVP success, as well as you must be confident that you have the necessary resources to continue product development and product launch in the future.
Here are six key steps startups should take when moving to minimum marketable release to avoid the pitfalls many may fall into:
1. Analyze User Interaction
The first thing to focus on is monitoring and analyzing how users interact with the product, as you can generate tons of data by releasing an MVP to the public. This provides a valuable advantage by allowing you to get a clear picture of user behavior, thereby identifying shortcomings in the product’s user experience that may not have been considered during the MVP development.
The most effective method for working with this data is product analytics tools, such as Amplitude or Mixpanel. With their help, developers can track and analyze various data, including user engagement, product monetization opportunities, traffic behavior, etc. All this is valuable information that can be used to noticeably improve your product since it becomes easier to identify realistic growth opportunities and make informed decisions based on data. Consequently, the startup's resources are directed to those improvements and adjustments that are key and most significant for the future MVP development process.
Apart from that, UX/UI design and navigation are also critical. By analyzing performance metrics, you can focus on different aspects of improving your product, taking into account factors such as:
● Adoption rate
● Retention rate
● Churn rate
● Clicks per UI element
● Sessions per visitor
● Feature drop-off
2. Collect Feedback
By releasing a Minimum Viable Product, you can collect real user feedback. Your customers' opinions and ideas about your product are the best way to gain insight into needed improvements in subsequent iterations of the product development process. In addition, customer feedback allows you to more accurately identify shortcomings and flaws, thereby getting an outside perspective on the current and future state of affairs.
There are various practices for collecting customer feedback that can be implemented already at the earliest stages. Among those that give the most accurate results are:
● Surveys. In-product surveys are the best way to collect feedback using various forms of scores from your early adopters. Such assessments include customer effort score (CES), customer satisfaction score (CSAT), and net promoter score (NPS). With this data, you can understand the level of satisfaction of your users and identify areas for improvement.
● Interviews. Although this is a more labor-intensive method, focus group interviews are quite effective. Using this method, you can gain deeper insight into your users’ pain points and needs, as the interview involves more detailed answers instead of a simple “yes” or “no”.
● Landing Pages. With this practice, you can introduce your product and its functionality to a large user base. You can also encourage interested customers to sign up for more information. This allows you to gauge potential interest and collect feedback by tracking user engagement.
● A/B testing. This method is perfect for presenting different versions of your software to potential customers, which is extremely valuable during product development. By getting feedback on multiple versions, you can then determine which one resonates with your initial user base best.
It is worth noting that regardless of the methods chosen, you should always carefully analyze information and take action based on the feedback received in order to avoid gaps and not miss valuable opinions or ideas that may become a problem in the future.
3. Define and Fix Pain Points
Analyzing user experience and feedback through various channels allows you to better understand the key needs and pain points of the target audience. This helps you to determine the optimal directions for developing the MVP. It is also essential to regularly reassess the obstacles that users face in order to improve the product design and implement effective solutions.
At this stage of the MVP process, the main task becomes generating innovative ideas and adapting to the changing demands of an expanding user base. Key aspects include:
● Performance Optimization. Particular attention should be paid to constantly monitoring metrics and testing your product to meet current requirements, as well as designing the architecture taking into account the predicted load and RPS.
● Scaling Capabilities. As your user base grows, it's important to consider both the vertical and horizontal scalability of your product's infrastructure.
● Stability of Operation. An unstable or difficult-to-use product can lead to an outflow of users to competitors. That's why it is necessary to ensure regular QA testing, an intuitive interface, and prompt resolution of user problems & pain points at the MVP stage.
Finally, you should also evaluate the potential of the current solution for further scaling. If your capabilities do not match your ambitious growth plans, this can be a serious obstacle. Therefore, it is crucial to carefully analyze and evaluate both the technical aspects and the overall viability of the product.
4. Prioritize Features
After creating an MVP, it is essential to work effectively with the collected data to ensure further successful development of the product. Useful sources of data include user feedback, interaction patterns, and technical roadblocks. At this stage, you need to determine whether users are asking for new functionality and how you could improve existing features.
This information provides valuable insight into which improvements will actually benefit end users. Even though many ideas usually accumulate during the process, you need to prioritize them correctly. Given the limited resources, time, and budget, it is impossible to implement everything that is planned. Therefore, it is recommended to use a structured approach to prioritization based on objective metrics, user feedback, and alignment with your vision.
For effective prioritization, you can use the following techniques:
● RICE. This system combines reach, impact, confidence, and effort into a single metric, helping to realistically assess the potential value of features to businesses and users, making it easier to plan product development.
● MSCW. This technique categorizes features into four categories: Must-Have, Should-Have, Could-Have, and Won't-Have. In other words, development starts with must-have features, gradually moving to lower-priority tasks in subsequent iterations.
● Kano. This model evaluates product functionality using two parameters: satisfaction and functionality. Based on user surveys, it helps to understand how different features affect product perception. The results of the analysis are then used to determine OKRs, KPIs, and strategic planning for product development.
5. Optimize a Commercialization Strategy
Another key aspect of product development is commercialization, which determines your ability to generate income and remain competitive. Having a Minimum Viable Product, a startup needs to validate and optimize its initial strategy, based on collected feedback and data, as well as plan the next steps.
When applying a commercialization model, it is worth considering both the specificity of your audience and the short-term & long-term goals of the project. Effective commercialization models include:
● One-time payment. Providing access to the product through licensing.
● Freemium subscription. Providing standard functionality for free, but charging a fee to access a locked version.
● Recurring subscription. Providing access to the product through a paid monthly or annual subscription.
● Pay-as-you-go. The fee is charged for the actual use of the product or its specific functions.
● In-product advertising. This type of monetization involves placing in-product advertising materials.
● Affiliate marketing. By inserting post-affiliate links, you can receive commissions for clicks on them.
It is important to carefully analyze the financial side of the project. Ensure that available resources are sufficient to achieve the planned project goals and milestones. You should keep in mind that the refinement and improvement of the product will require additional investments, which can be high. If the current funds are insufficient, you can consider different options for attracting financing, including loans, finding investors, or optimizing expenses. Regularly reviewing the budget and financial strategy will also help ensure the sustainable development of the project in the long run.
6. Expand Your Marketing Strategy
Once you have an MVP and validated your idea, it’s important to continue to adapt and improve your initial marketing plan.
At this stage, there is also one key aspect that we advise you to keep in mind. This is your vision. It's a simple but not always obvious truth: your product will never be done. What does this mean? Even if you have released a product that is the most innovative on the market, has no other analogs, and is happily accepted by the target audience, within a few months, competitors will most likely appear who can refine your idea and offer something else valuable. If we talk about the prospect of a couple of years, then the habits and expectations of users, as well as market requirements, are likely to change during this time. All this means the need to constantly develop and adapt your product, and this requires vision. In other words, your marketing plan, startup vision, and milestones—all three aspects must be consistent and correlated with each other to ensure sustainable growth and long-term development of your startup.
So, how to make your Minimum Viable Product successful and profitable? Your marketing strategy should be constantly developed to attract new potential users and clearly demonstrate the benefits of your solution to the target audience. You can use various marketing approaches to expand the reach and strengthen the brand position:
● Social media activity
● Search engine optimization
● Collaboration with influencers
● Creation of high-quality digital content
● Creation of targeted and contextual ads
● Email newsletters
You should regularly analyze metrics and user feedback on your beta product. Also, don’t forget to motivate satisfied users to share information about your product, as referrals remain one of the most effective promotion channels.
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Challenges After MVP
After releasing an MVP, your startup may encounter several challenges that complicate selling your product. These obstacles can range from deciding on and adding new features to scaling the product. At this stage, it's important to determine whether you can continue development independently or if you should outsource it. When making this decision, focus on such factors as available resources, project complexity and scope, and your expertise.
In cases of limited internal resources or lack of expert knowledge, outsourcing is a reasonable solution. It's best to begin collaboration with a development company when it comes to scaling or implementing complex features. By partnering with an outsourcing company, a startup can benefit from other developers' knowledge, skills, and expertise to overcome challenges. Aligning with your methodology and objectives, a development partner can either expand your team or become a new unit, providing the skills and resources necessary to take your product to the next level.
Minimum Marketable Product (MMP)
The next stage after MVP is MMP. Minimum Marketable Product, or sometimes Minimum Marketable Release, allows a startup to understand whether it's worth developing the idea further and if your product is suitable for release into a broader market. In other words, while MVP provides insight into customer needs and potential product improvements, as well as helps create a base of early adopters and validate your idea, MMP is aimed at expanding the customer base. Consequently, it's crucial to ensure that your product meets higher expectations and standards and is ready for market promotion. This means not only marketing but also technical efforts to provide stable performance and functionality under high loads due to a larger number of users.
From Minimum Marketable Product (MMP) to Minimum Lovable Product (MLP)
After successfully validating an idea with an MVP and moving to an MMP to expand the user base, a startup's next step can often be to create an MLP.
Minimum Lovable Product or MLP is similar to previous stages (MVP and MMP), but the key aspect here is directing the startup's efforts to make customers fall in love with the product. In other words, it's crucial not just to understand customer needs & problems and provide effective solutions to these problems, but also to deliver a delightful and engaging user experience.
Thus, developing an MLP involves ensuring your product creates a memorable experience and positive perception. This helps increase customer retention, as well as their loyalty and trust in the brand, which naturally boosts sales.
One of the best examples of a successful MLP is Airbnb. The product, which was initially a website allowing users to rent out their rooms or apartments, over time added a number of new features, including personalized recommendations and user reviews, which made the customer experience more pleasant and memorable. This helped create a loyal customer base and scale the initial product to one of the largest online platforms.
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Summary
Launching an MVP is not even half the battle, but only the beginning of the product development journey. By gathering feedback, evaluating different metrics, and analyzing ways to refine the product, a startup can get a clearer understanding of the viability of its idea and vision.
Any promising project is a long road that starts with something more basic and gradually scales to meet user expectations, needs, and requirements. By adding functionality, prioritizing features, and removing major roadblocks for users, you smoothly move towards subsequent stages, from MVP to MMP, and then to MLP to secure success not only in product monetization but also to win over your customer base.
As the market evolves, a startup must continue to develop. On this journey, it's crucial to understand exactly where you want to go and how to do it to avoid failure. By collaborating with a custom software development company, you can significantly increase your chances due to external expertise, knowledge, and skills. At Jappware, we are always ready to help you along the way to bring your unique vision to life!
