Startups spend sleepless nights brainstorming what should be done first? Which feature is critical for mobile app, but will it make the needed buzz in the market? There are many such endless lists of questions that run through the mind of product owners and app development companies. This article answers such queries and provides clarity over prioritization framework, especially for startup business planning to invest their time and financials. You will discover answers for:
- Why is feature prioritization & prioritization techniques important ?
- Best prioritization methods for startups & mobile app development company.
- Step by step process for how to prioritize features?
Why is prioritizing features required?
Analyzing the best way to prioritize product features is important for planning out the order of features for your web & mobile app development, based on the product roadmap created.
- You need to prioritize features and make prioritization grid because of limited time and money
- Figuring out which features to work on and when necessary, to prevent delays and a poorly executed product.
- Keeps products aligned with your goal.
- Ideas can be multiple, but for a good plan or strategy, feature prioritization is a must.
- Planned and justified allocation of resources.
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How to prioritize product features - step by step process
1. Set the product vision
- With a clear product vision, it is easier to determine what product goals will guide the iOS & Android app development process.
- List down what your audience wants and what they need.
- Keep product goals linked to a key performance indicator (KPI).
- Write down your MVP development goal, purpose, and audience for impact vs effort matrix.
- List what problem is your product going to solve.
- What is value-driven out of your product?
- Goals can be multiple like a new product launch, new market acquisition for an established product, product monetization, customer satisfaction.
2. List down what your audience wants and what they need.
- Keep product goals linked to a key performance indicator (KPI).
- Write down your MVP development goal, purpose, and audience for impact vs effort matrix.
- List what problem is your product going to solve.
- What is value-driven out of your product?
- Goals can be multiple like a new product launch, new market acquisition for an established product, product monetization, customer satisfaction.
3. Allocate resources
After figuring out the priority list of features, plan out resources required to develop each feature.
4. The product roadmap for feature prioritization strategy
A product roadmap is central for guiding the strategic direction of a mobile app. The product roadmap should be built to accommodate continuous product changes. After launching an MVP, companies need to start gathering user feedback, which is used to determine future iterations of the product roadmap based on pre-decided KPIs.
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Feature Prioritization Methods
1. Agile Prioritization Technique
- The primary factor to be considered in the agile prioritization matrix is prioritizing requirements is the financial value attached. Value can be varied like incremental or new revenue, operational cost.
- The cost involved in the development process is also crucial to figure out the value that could be derived and, finally, the ROI.
- The technique also looks into the amount of skill sets, knowledge, additional capabilities the team will gain by working on the project.
- The method also figures out the amount of risk involved in introducing a new feature at a later stage.
2. MoSCoW Model:
moscow product management is a feature prioritization matrix template that stands for must, should, could, and won't. This method determines what features to complete first, which features will come later, and which features to cut entirely. Often as a project progresses, more features come into the light, and if product teams can't scale back the features in the should-have or could-have sections of the MoSCoW matrix, scope creep can blow up the MVP. The MoSCoW method keeps the scope of the project on track. The model ensures that the priority list, the timeline, the budget, all are on track.
- Must– This is of topmost importance.
- Should– highly desired but not essential or mandatory.
- Could– nice to have in the product.
- Won't– not required at that time of the process.
3. Hierarchy of user requirements in product management feature prioritization
In this product feature matrix we categorize the long list of features basis what users need.
A user needs funnel is created, stating every level of what consumers want till the utmost satisfaction is achieved. The topmost level can only be reached when all the other levels are appropriately attained. It is a useful approach, especially when building an MVP for best app development process.
4. Kano Model of Prioritization
Two critical factors in this prioritization grid are the existence of features and their degree of implementation. These two factors define the satisfaction level of users. As per the theory, complete implementation leads to the highest level of consumer happiness. the approach is defined into three categories:
The threshold features: Stated as satisfiers, from the users' perspective, the web & mobile application should have these features by default or the basic features of any application. Typical MVP apps exemplify this category. Getting threshold features does not give an edge over the competition, but missing them will lead to a disastrous product roadmap.
Performance features: This is defined as the baseline expectations of users. With the implementation of these features by iOS & android app development companies, user satisfaction gets enhanced. These can be stated as convenient features to have in an app.
Excitement features: Referred as delighters, users do not expect these features, but if implemented can increase user satisfaction drastically, give the product an edge over the competition and mark a significant presence in the market.
5. Impact-Effort Analysis
The Impact-effort matrix or benefit effort matrix works well with new products and MVPs because it's easy to select good ideas that can be implemented in a given timeframe.
The horizontal dimension defines the value a feature brings for its user's. The factor can be the product and business impact. You can look into one of these three aspects at a time or draw an average to position it in the model. The vertical line shows the resources, effort required to deliver the feature. The best-case scenario results in providing a high impact feature with the lowest effort level.
6. Relative Weighting prioritization techniques
Certain features, if missed, can decrease the value of the product developed by startups, custom app development companies. The agile team and product manager can create a score of features and rank them on a scale of 1 to 9.
- Benefits derived from the feature
- the negative impact of not having the feature
- cost of developing the feature
- risk involved
The rank and priority are then determined by dividing the value score: (Penalty score + Benefit score) / (Risk score + score of cost)
If the results come in numerical value, it becomes easier for the app development team to arrive at a faster prioritizing decision and draft the best feature prioritization strategy.
Final Thought
New features are amazing, and it is always exciting to innovate your web & mobile app, android & ios app with amazing features. As a startup, you need to consider that your vision is well aligned; you are wise with time, money, and resources. As you prioritize features, create prioritization framework through your product roadmap, remember to work upon features supported by relevant data and market research. Share your thoughts with our custom mobile & web app development company, and we will be more than happy to assist you with the right app development framework.
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