For many startups, developing a minimum viable product (MVP) is a good starting point which not only assists in gathering invaluable data of early adopter customer insights, but also helps steer the whole go-to-market plans when these startups would like to bring the new product or solutions to the market. There are seven major types of MVP, which are wireframes, product mockups, explainer video, landing page, website, mobile app and software prototype.
Of course, depending on which stage you are, the MVP type you would like to go for when you want to sell your ideas might be totally different from the MVP you develop to evaluate your real customer behaviour. An MVP app, equipped with certain features, is an ideal option for those who have limited development budgets but already figure out a non-crowded niche or identifiers to test the market. Hence, all you need is to simply integrate basic features to build an MVP app while testing your assumptions for further expansion. Here are some determining factors of the MVP app development cost:
1. Platform Selection
A computing platform in general is where any piece of software is executed. Typical development platforms include web-based, iOS, Android. The latter two platforms are mobile app platforms, which are also considered as the most frequently used app platform in MVP app development. Concerning the platform you are interested in, the development cost ranges from £8,000-£12,000.
Most apps come out with iOS system first when considering development cost and the speed to market. One of the major benefits of iOS app development is that iOS app always brings better user experience and easy to scale up in Apple ecosystem. On the other hand, Android has the largest platform share compared with the other operating systems.
Differentiated from iOS revenue model, Android heavily relies on its in-app advertisements. It makes sense to start with an Android app if you prepare to reach your target audience as much as possible. Additionally, enhancing features and customising an element can be another key driver to opt for Android app development.
Generally, developing an Android app could be a little bit more expensive than iOS app. However, no matter which platform you would like to build your app on, it is always decided by your primary development objective, your budget and the audience you want to target.
2. Design Effort
Based on our past experience in developing an MVP app, many of our clients did not require too much design effort involved in the MVP app unless they are keen on testing specific features or they find it imperative to visualise a number of essential features of the app. In the end, they can get more compelling customer data. The cost structure of UX mainly comes from UX Wireframes, the relations between screens, and the interactions within the page. Regardless of price calculation approach, the cost can vary from £5,000-15,000, either with solely UX involvement or accompanied with both UX and UI.
3. Number Of Features
The number of features, as well as their types, also play a crucial part in determining the complexity of an MVP app development. These features can be put into several categories such as “User & Account Sign up”, “On-page content generator”, “User engagement”, “Payment & Billing”, “External API integration”, “User data management”. Here is a tip for you. You probably have many features in mind that you want to achieve, but focus on the features that make the most sense for you as well as your testing audience and create the highest value for you in the short-term perspective with a feature priority list. Again, depending on your specified requirement, it is quite hard to predict the cost for this part in general.
The average cost to build a minimum viable product in app development will considerably depend on what experimentation you want to embark on and what solution or product you want to bring to the market. A typical cost structure of an MVP app particularly stems from both design and development effort. Therefore, considering these two development aspects, an MVP mobile or web-based app costs between £15,000-£70,000.