5 Factors For Successful Application-based Product Development

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Mobile applications are a critical part of our daily lives. We use them to keep up to date and communicate with our friends, family, and entertainment.Statista states that there are more than 2.7 billion smartphone users worldwide. We use our phones most of the day, and 90% of that mobile time is spent on various applications.

As companies continue to improve their rapid application development and application lifecycles is tied to modern IT structures, these changes are disrupting the way we view IT contributions. In the past, both development and operations were measured by their efforts for a specific project. The more hours and code or successful edits you fit into a particular plan, the more successful you appear.

Factors That Define Application Development Success

Market orientation

When a company takes a market-oriented approach, it focuses on the design and sale of goods and services that meet customers’ needs to be profitable.
It seems reasonable to suggest that if a design team has no control over corporate philosophy, it must be in an excellent position to influence it. Conduct user research, with precise market research that covers fundamental principles for developing high-quality user experiences. You also need to analyze the needs of customers or users are and how you can serve them.

Technology

The technology deployed to develop and deliver the product must be appropriate for the market. While the design team is unlikely to have the final say on budgets or technology ownership, it will likely influence development teams in their choice of technology.

New product development strategies

New product development strategies and responsibilities should be shared work between product design, development, and management team. This depicts that the development team will have some contribution to the chosen strategies and will be able to influence them with their user research to guide the plan to meet the needs of its users.
Knowledge transfer and management
Agile development depends on effective communication; therefore, poor knowledge management is a significant obstacle to implementation. In fact, 75% of the damage caused by failed mobile projects is due to knowledge silos. The application of multifunctional development teams is essential to break silos and reduce risks in agile environments.

Agile development process

Proper planning and agile development are essential to combat fluency, control development costs, and ensure the expected return on investment (ROI). During the development process, three critical areas need to be managed, from the initial development of the concept to the product launch.
Pre-development work or the design thinking process, specific requirements definition, and iterative development are three crucial steps that help define applications’ success.
Mobile product owners who diligently monitor these three development phases are best placed to meet users’ needs and maintain user satisfaction. Also, this product management approach helps to save development costs while fulfilling the application’s overall business objective.

However, let’s focus on the other side of app development if things don’t fall in the right way.

The Effect Of Failed App-based Product Development Does Huge Damage to Business.

Below are some of the consequences due to app failure;
• Low use of the app- an idle application has no users and, therefore, does not generate revenue for the organization.
• Companies suffer costs to hold customers who are disappointed with the application that doesn’t meet their expectations. These costs can take the form of additional discounts, offers, and marketing campaigns.
• Companies lose ground to the competition if their application fails.
• Suboptimal apps are hampered by negative reviews in app stores, which ultimately impacts brand reputation.
• The organization’s internal trust amid business stakeholders and the IT team gets impacted due to an application failure.

In a nutshell

Product-based development is a more durable method of thinking about applications. For example, employees are judged on their contribution and not on their indicators. This means that product-based development can be seen as a complementary mindset for agile developers. In product-based development, applications are viewed from the perspective of lifecycle development, as opposed to temporary application pipelines.

Not all factors for the success of a new product development project are directly under the design team’s competence. In most cases, however, the design team will have the ability to influence these factors and play an essential role in ensuring that it has the best chance of success.

Panacea Infotech is a leading app development company in the US. It enables business with a smooth transition in this phase of digitization with a compatible app that defines success for your business.

Get it developed now!

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