Despite the effort and money spent, an MVP production is only the beginning of the journey. You don’t want to stop halfway, do you? Then think about how to scale your MVP. But be prepared for the fact that it won’t be easy, given the fierce competition, the new technologies that come out almost every day, and the need to have a rock-star development team on your side capable of building software that your audience will fall in love with.
Do you find scaling an MVP into a full-fledged product too difficult? Don’t worry, you’re about to learn proven strategies that will help you get there. Let’s get started!
Why do you need an MVP?
Every brand you know started somewhere. And the initial product from which Zappos, Airbnb, Amazon and others have grown is the MVP, or minimum viable product. It is created to test an idea, to see if users like it and if there is a market demand for your offering.
A quality MVP project is the first step that, if done correctly, will lead to a full-fledged product. Most often, MVP development is based on agile development methodologies, which allow for flexibility and adaptability. Other specifics of MVP development are detailed in the blog article. In the meantime, here are the reasons why it makes sense to start a business with an MVP:
- You can save money because you don’t have to invest in a full-featured system from the start. What if the audience doesn’t like it?
- You will know what changes need to be made to the product to meet the needs of the users.
- You can do a 180-degree turn, abandoning the original idea and replacing it with another, more requested one.
- You can get to market faster. Getting an idea to market quickly can be the key to success. You can be the first in your field. Or the best.
However, not all of the startups that create an MVP solution are equally successful. You have probably heard the sad statistic that 90% of startups fail because they misunderstand the needs of the market and create a product that is not in demand.
Source: https://bootcamp.uxdesign.cc/90-of-startups-fail-because-they-dont-understand-how-to-utilize-a-minimum-viable-product-mvp-to-7b9f9f27cdd9
Behind the scenes, the fact remains that there is a way to avoid failure. And that way is to apply proven strategies to wisely scale a minimum viable product. Similar to website performance optimization strategies, product scaling strategies make your business visible and profitable.
What is the difference between an MVP and a full-scale project?
We talk a lot about the need to have an MVP and the need for post-MVP actions, namely scaling your product. But what’s the point?
An MVP is often seen as a cut-down version of a full-fledged product, a draft, a project that you don’t mind closing if something goes wrong. On the other hand, we have a full scale product. It is considered a full-fledged version of your business idea, the end point of product scaling, the version of the product that every MVP dreams of becoming. A full-featured software solution contains all the functionality, not just the basic one, as in MVP, sufficient to enter the market and meet the needs of users.
So how do you make the transition from a modest MVP solution to the bold post-MVP stage?
Proven strategies for scaling from MVP to full scale product
Below, we’ll look at the most hands-on product scaling strategies you can adopt if your goal is to make your product profitable and prosperous.
Evaluate the success of your MVP strategy
Before you dive into MVP scaling, you need to understand if everything is going well. We recommend evaluating the following indicators:
- User reviews. Collect them and evaluate how many of them are positive and how many are negative. The latter are particularly useful because, if they are genuine, they will point you to areas of growth, things that need to be strengthened or changed.
- Usage of your website or application. Regardless of an MVP timeline, users will either use your product or not. Use analytics to understand which sections or pages are the most used, and which are the least used or causing problems for users.
- Profit. Find out if the MVP has been a money maker, if there are monetization issues (monetization methods, market demand), etc.
Each subsequent step should be based on the numbers and evidence of success obtained during the previous steps.
Gather user feedback and use deep analytics
Do you know what will ensure your long-term success in the marketplace? Your customers. Think about them when you’re working on your MVP, because they’re the ones who will determine whether your product is viable. You should take user feedback seriously, so organize surveys, polls, A/B testing, even personal interviews. Ask people what they would like to see on your website or app, what they are happy with, and what difficulties they encounter when using the product.
For example, fitness apps often fail at the most critical moment – when an athlete wants to track their running pace or distance. Analytics in general is key to understanding what people want. Taken together, this will not only reveal problem areas, but also whether the features you offer are needed. Perhaps people are uncomfortable with them, or the nature of user preferences and needs has changed significantly, and you should keep an eye on those dynamics.
Source: https://learn.microsoft.com/en-us/azure/cloud-adoption-framework/innovate/considerations/adoption
By the way, do you know who your users are?
Understand who your users are and do market research
It is important to understand who you are building a product for. If you’re coming from the position that the product should make you money, you’re right. But this is a one-way street. Instead, focus on the following:
- Who are the people you’re building a product for?
- What is their buying power?
- What other products do they typically use?
- Age, occupation, hobbies, sports, interests, children – all these characteristics should be considered.
The better you know your customers, the better you can meet their needs.
And don’t forget the needs of the market as a whole. You should conduct thorough market research on existing problems and trends. Your product should solve problems and become indispensable, not just another one of the same. Competitors, related issues, the economy – consider these as well.
Define your scaling goals
You should scale your MVP with a clear understanding of where you want to go. What exactly do you want to accomplish? It could be entering a new market or reaching a broader audience, increasing revenue or awareness, etc. It is critical to outline your MVP scaling goals in relation to your business goals. When all of this is clear and unambiguous, the development team can work more purposefully and achieve the expected results.
Speaking of the team.
Build a team of experienced professionals
When your organization is short on technical specialists or business analysts, it makes sense to turn to outside experts. As with outsourcing recruiting processes, outsourcing software development tasks can make a difference. In this case, you’re not limited to your existing expertise, but have the opportunity to choose from the most experienced professionals in the field. But this is not the end of the story. The roles and responsibilities of the team members should be clearly defined and agreed upon, and milestones should be set to ensure that the product scaling goes as planned and without unpleasant surprises.
Decide how to monetize your full scale product
How are you going to make money from your product? Don’t leave this question hanging. From the very beginning of MVP scaling, you and your team should have a clear idea of how to monetize. And there are many proven monetization methods available today:
- Paid subscription
- Freemium model
- Trial or free use
- Paid features
- Free trial, etc.
Remember that making money is one of the main reasons you started this whole process. However, be careful not to put pressure on users by offering only paid features. On the contrary, be generous and give them even more value for their money. That said, you should follow the trends when it comes to monetization. Keep this in mind.
Streamline your product improvement processes
Improving your product is something you do all the time. But at the same time, you need to make sure that you are optimizing the processes and workflows involved. For example, to keep all team members on the same page, you should use project management software. On the other hand, to streamline order management and improve customer interaction, it doesn’t hurt to implement CRM or other tools that automate routine processes.
The use of cutting-edge technologies such as generative AI, machine learning, etc. is another area worth considering. It is true that ignoring modern technologies is not a recipe for success these days. It’s no longer news that AI is a must-have in education, healthcare, retail, and many other areas. So make sure that this issue is taken care of.
Conclusion
Now that you know the key MVP scaling strategies and what post MVP actions to take, you have a lot to focus on. Start with a high-quality MVP and consistently build your market presence by scaling the product. Build a team of experienced professionals, find ways to monetize the product, get feedback from your MVP users, and improve the product based on that information. Remember, even if user feedback is negative, it is only a reason to improve and move forward. Good luck with your efforts.
