A 6-Step Guide To the Best Digital Product Development

Digital products are ruling the market across the globe for a few reasons. First of all, it reduces the organization's expenditure on developing and operating the product. Second, it boosts organizational productivity. And third, it improves the usage experience for customers. However, the issue is that creating an excellent virtual product is not a piece of cake for any software developer out there. Yes, the concerned application or software has to go through a series of processes, including market research, product idea validation, building, and testing phases, to make it fully ready to release on different platforms. And that’s where this guide for digital product development will turn out to be useful.

Please note that each stage in the virtual product creation process requires expertise in a particular skill set and the availability of several resources. Therefore, it is very important to pay attention to this investment and plan the same, considering every minute factor. Recently, a prominent auditing and consulting service organization has released a survey report, which predicts a 19% growth in the efficiency of organizational operations and a 13% reduction in production expenses after developing virtual products for internal and external users. Thus, if you wish to take your entity to new heights while lowering operational costs, digital product development is the way to go. But:  

What Is Digital Product Development?

Digital products are basically assets developed using a bunch of programming codes, offering a particular benefit or value to interested users. These assets include multiple things, such as:

• Mobile 
• Desktop 
• Web applications 
• Control applications
• Digital dashboards 
• And many as such 

How To Perform Digital Product Development in Simple Steps

1. Identify a Market Problem or Need 

It doesn’t matter how revolutionary or transformative your product idea is; if it fails to solve a real problem or fulfill the needs of specific people, the odds are high that you will waste your precious time and money creating something that won’t be usable. Therefore, it is essential to ensure that your product focuses on the solution of a particular pain point, which can be achieved through research and analysis, according to a virtual product development company. Some leading software development agencies also suggest participating in various activities that can help in understanding the market and recognizing user pain points.     

2. Spend Time on Discovery

Product discovery is an instrumental process that is intended to recognize and resolve uncertainties not just through product, process, or service structuring but product structuring as well. This structuring will help in:

• Lowering the risk of cost and time investment.
• Defining technical feasibility and business value. 
• Ensuring great experience for each individual who is involved. 

The topmost custom software development company has a few activities included in the discovery phase that are:

• Having a good understanding of the issues and requirements.
• Establishing the goals and objectives of the business. 
• Validating the product idea.
• Creating a user-centric value proposition canvas. 
• Structuring a product and scoping a blueprint for the product’s creation if the solution is a product.

Be mindful that all these activities are carried out in such a way that by the end of the discovery phase, you can gain clarity about how to execute the best possible digital product development, avoiding unnecessary rework and revisions. 

3. Create an MVP or Minimum Viable Product 

This step is the most important one on this digital product development list and can’t be missed by hook or by crook. Once you have made up your mind to turn your idea into a real product, you need to prioritize the features and functionalities of your product. After you are ready with an MVP plan, you can screen the product with the least possible investment of resources. In case you find it important to change the direction of the product, you can do it in the initial phase without wasting valuable resources, like time and money.       

4. Develop the Product Concept

Now that you are 100% sure that your idea of the product can address a real issue and that you have already prepared a Value Proposition, it is highly recommended that you develop a prototype of the concerned product. And while doing this, you must ensure that the proposed product allows investors and designers to view whatever you have imagined. Please be informed that a prototype is also tapped to show the basic model of the final product to consumers if the words of a top digital product development company are to be believed.   

One of the areas that software developers mainly focus on during the Product Concept phase is creating high-fidelity mockups linked to:

• Interaction and navigation flows
• Business rules 
• Use cases 

They are also accountable for:

• Building the visual identity of the product. 
• Creating navigable prototypes. 
• Developing an all-inclusive mockup of the product. 
• Adapting the product for mobile and web layouts. 
• Establishing a style library. 
• Offering usability test resorts.

In case you can’t differentiate between terms like prototype and MVP, we must tell you that the former examines the basic concept, while the latter tests functionalities, considering the basic concept as already feasible. What else? A prototype is more like the digital appearance of the product. At the same time, an MVP is a functional asset that can be used in a limited way, according to a digital product development firm.    

5. Test the Product With Real Users 

After doing all the things above, you are now supposed to test your virtual product with actual users who are going to use it in the future. This way, you can reap the maximum benefits of user testing, especially when you factor in a diverse group of testers representing your desired audience. 

The finest digital product development agency suggests firing a few queries, such as:

• Does the product resolve the pain points of the target audience effortlessly?
• Is the product intuitive and enjoyable to use?

These are essential riddles to pay attention to as they directly influence the product’s market fit and long-term success. Only when you pay heed to every user's feedback will you help improve your product before it is released into the market. 

6. Begin Product Development and Bring It to the Market 

Once the initial model of your product has been tested and refined completely, it is time to begin creating the full-fledged model of your product. You can get it done through outsourced developers while setting a timeframe and budget for the job. 

Another piece of advice a popular digital product development organization has for you is to please not forget to follow all the steps mentioned above during your product’s development. Even if you outsource all the stages of product creation, be a key person and keep a close eye on the team. Post all work has been finished, you will have plenty of knowledge to manage the product.  

Summary 

We hope you wrapped your mind well around all the important aspects of digital product development. So, if that is the case, it is time to create a digital version of your product as soon as possible and make it available for your target audience so that they can receive the best possible customer experience down the road. 

To get additional help during your digital product development, remember that the best custom software development solutions are all you need, and they are just a call away.