Digitalization is the trend that keeps making our world a more connected and comfortable place. According to Statista, as of 2021 there were 3.48 million apps available in Google Play and around 2.22 million – in the App Store. And global spending on enterprise software was $605bn. These numbers keep growing which proves that custom product development is a priority for many startuppers and business owners.
But unfortunately not every product idea is turned into a great solution or business model. Development failures keep happening simply because startuppers and business owners skip the stage of so-called minimal offering.
Before creating a complex product able to satisfy even the pickiest user, you need to invest in MVP and minimal marketable product to find out real users preferences. So in this blog post we would like to cover the main differences between MVP and MMP, point out what makes them so valuable, and how you can benefit by investing in them first. So, without further ado, let’s get started.
Minimum Viable Product and what it’s good for
To begin with, let’s talk about MVP development since it is the major starting point of every successful solution. Basically, the term minimum viable product implies the creation of a basic version of a project with just the right amount of core features.
Minimum viable product allows you to enter the market fast, test an early version of your project, and attract your target users. MVP concept is perfect in terms of rational resources use, since you are not going to spend all your budget on building it and you will also avoid key risks. Here is the video with our expert explaining the practical use of MVP:
As we’ve already mentioned, the MVP version of a project includes limited but crucial functionality that lets your users appreciate the value your solution brings. With time you will be able to expand that basic functionality and make your end solution more advanced and competitive on the market.
If you choose the right and experienced development team, you will be able to develop an MVP from scratch within 3 month and proceed with its improvements.
Who needs MVP development
By now you may be wondering who exactly can make use of MVP development. There is a common stereotype that MVP is necessary only for startuppers. But this opinion is rather wrong. Here is who can benefit from MVP development:
Why build MVP
As you can see, a minimum viable product is a vital solution and also a so-called risk reduction tool that businesses should seriously consider. And if you still have any doubts regarding the relevance of MVP, you need to take a look at all the advantages it offers:
Where should you start
The development of a minimum viable product includes several key stages. The first and most important one is the discovery stage. During this stage you will be able to arrange all ideas and relevant data about your project, select a core set of features and set your requirements. Here is what Discovery stage is used for:
If you choose a development team like ours, you will get all necessary assistance with the discovery stage since our Business Analyst will help you with the market research, competitors identification, writing of technical documentation and formulation of clear project vision.
Once the pre-development stage is over, the technical one begins. The designers create a prototype of your MVP, work on its design concept and provide you with some logos and mockups. When you approve the design, the product development and quality assurance take place.
Our developers write high quality code and perform all kinds of integrations, while QA engineers test MVP performance, security and usability. When you MVP is all set and ready, we release it and help you to submit it to mobile markets or integrate it into your working environment.
After that you start creating advertising campaigns (if needed) and gathering relevant user feedback. Then the feedback is thoroughly examined and analyzed and you can proceed with further project development. As you can see, the process is quite seamless and requires minimum input from your side, which makes MVP an even greater option.
|up to 5 weeks
|Development + QA
|after 3 months
|up to 1 month
Minimum Marketable Product in a nutshell
While everything with MVP is quite clear, minimum marketable product remains a mystery for many startuppers and business owners. So what does this concept mean? In general, minimum marketable product or MMP is a project with just the right features that is ready to be marketed and presented to the target audience.
MMP is not yet a final product, but it is a great solution with a core set of features that can be tested by the users. Also MMP usually has great user experience that makes it so appreciated. First you develop MVP, then you test it on your potential users and remove unnecessary features, then you turn your project into MMP all set and ready to enter the market.
So in a common sense MMP is an improved version of MVP with better usability that is targeted to impress the users you are trying to attract and convert into your clients.
Top 5 indicators of a successful MMP
Now when you know what minimum marketable product is about, it is time to delve into some success criteria. We know firsthand what actually makes a great MMP, and now we are going to share that knowledge with you. So here is the list of the 5 indicators that you should strive to achieve while building your MMP:
Main difference between MVP and MMP
Speaking about a minimum marketable product and minimum viable product we should point out some main differences between them. While both of them are used for validating assumptions about the future product and checking out how early adopters will interact with it, MVP and MMP are not the same concept.
MVP is created to find out real market needs, and discover functionality that is in demand among potential customers. So after MVP release, its owner can proceed with adapting the product to customer needs. MVP transforms into further product development and maintenance.
The idea behind a minimal marketable product differs a little bit. The main goal of MMP is to develop and deliver a product with the smallest amount of options. So MMP can be an entire product developed using minimum effort and used to catch attention. You focus on what really matters, what will sell your product to the target users. Also in case with MMP some features can be removed to target even more narrow but really interested in this specific product audience.
The right way to combine MVP & MMP in 3 steps
Chances are, by now you are wondering what to do with minimum viable product and minimum marketable product development. Should you choose the one option or combine them to get a great product with must have functionality that will attract your target audience?
Well, we would suggest you the wisest option – consider a combination of MVP and MMP to create a minimal marketable product with the top-notch functionality and your special user in mind. Here are some steps that can help you with it.
Step #1 – understand your value proposition
The first practical step would be to understand your unique value proposition and point out the most marketable features for your project. Think about the main needs of your target users and select only the most useful and interesting features you would love as a user of your product, the features that will sell it. Discard everything else, you will always have time to add more features in the future releases.
Step #2 – select must-have features
Write detailed epics and user stories for your project. Your goal is not to become one of those over engineered products. You need to offer customers elegant and simple solutions for their problems. So when your epics and user stories are ready, reread them and think whether an MMP can be released without this or that option and whether it will not lose its purpose without it. If yes, then exclude those options for now.
Step #3 – build and launch the product
Build your MVP that will become a prototype of your end project. MVP is a fantastic tool that will provide you with all necessary reusable product increments. Validate your ideas, learn what customers expect to get, and meanwhile work on marketing campaigns.
Prepare a landing page promoting your future MMP, offer people to get an early access to keep them interested and intrigued. Collect their emails using a special form on your landing, and once your MMP is ready – announce it by sending emails.
How our development team can help you
Whether you are interested in minimum viable product or minimal marketable product development, our team can help you with that in no time. We have been building solutions and MVPs (30+ successfully released by now) for startups, businesses, and enterprises for more than 11 years.
By choosing our team, you get a reliable technical partner with a solid understanding of all processes. We will guide you through all development stages, develop software meeting all your requirements, and help you with launch preparation activities.
Thanks to 150+ highly experienced specialists (developers, QA engineers, Business Analysts, designers, project managers and DevOps) we have a well organized product development process and guarantee that your minimum viable product will be of sufficient quality.
It takes up to 6 months for many development teams to develop an MVP, and we do this in 3 month. So you can boost your time to market and achieve ambitious business goals faster. On top of that, we offer assistance with the discovery stage and take care of specifications, requirements and other crucial documentation.
We can help you create a trendy and highly technological solution powered up by the latest technologies such as:
- AI and ML;
- VR and AR;
- Big Data;
As to the technology stack we use, here are the main programming languages we have been honing our skills in for many years:
If your goal is to create a highly scalable and customizable project that can be easily improved in the future, then hire our team and enjoy a seamless process, preserved deadlines, transparent communication and reporting, and innovative approach backed by the best practices.
To wrap it up
To conclude this post we would like to drop a few extra lines about MVP and MMP. It’s obvious that MVP provides you with a unique chance to test your product among potential and real target users to get valuable feedback. If you pay enough attention to that feedback and focus on the right features, you will be able to satisfy the needs of every user.
And that’s exactly how successful products are made. You take a great idea, find an experienced team, build and release MVP or MMP, and gain loyal users. Start your MVP journey with us to develop software that will meet all your ambitious business goals and expectations.