Project starts with a business idea and its validation. What looks like a sound concept on paper may become a disappointing product and a waste of investments in reality. This is especially true for digital products, in particular software startups. Fortunately, there is a way to test the viability of a future product at a reasonable cost.
Software developers may build a basic embodiment of a future software product, similar to building small-scale models to test engineering concepts. This process is called “building an MVP,” and it has become a common practice in software development due to its numerous benefits. Let’s have a look at what MVP software engineering is in more detail.
What does an MVP mean in software development?
In software development, an “MVP” stands for a "minimum viable product," a usable build of a future software product that shows its concept and basic functionality.
In this context, "minimum" refers to the number of features that the product includes. "Viable" means that the product can be ready for market and provides a solution sufficient for early adopters. For example, it may offer only one feature, but this single feature works as intended. And the "product" itself implies users have physical access to a solution and can consume it via devices.
An MVP in development components
A minimum viable product generally has three main goals, including many secondary objectives. The goals define the components of an MVP, and the objectives are related to the steps of its development process. The essential purposes of an MVP are:
Analyze the market.
Test the business idea.
Facilitate the development.
Ultimately, an MVP's purpose is to validate the feasibility and product-market fit. Another objective is to promote the future development of a full-scale product based on an MVP.
For these purposes, a minimum viable product must have three components or characteristics that define a marketable software product. They are:
Functionality — a product must be able to perform at least one function.
Usability — a person must be able to use an MVP for the intended function via the interface.
Reliability — a product must work as intended and without errors.
MVP Development Process
Developing a minimum viable product represents a reduced version of a "conventional" software development process used for full-scale projects. The number of development steps is similar but less time-consuming since an MVP usually has only one or a few core features.
The development process includes the "analytical," "building," and "post-release" stages. The entire scope of work covers the following activities:
1. Perform market research.
Market research is an initial step of an MVP development process that defines the future of the whole endeavor. Usually, a software development company has business analysts who monitor the dynamics of the IT market. They know the current and emerging trends and can evaluate the idea's feasibility and product-market fit.
2. Identify the target audience.
To succeed, an MVP must convey a demanded solution. For this reason, at the next step, a startup creates an ideal customer portrait. Analysts use various statistics and validate hypotheses to find out what their ICP looks like. In particular, they determine such characteristics as age, gender, location, occupation, income level, and others.
3. Define the most demanded features.
With the target audience's needs in mind, business analysts define a set of features that most likely can meet users' expectations. Next, project owners approve what feature (or features) they will develop. Alternatively, it's possible to build a better version of an already existing solution that will have a winning advantage over the market competitors.
4. Choose an architecture and tech stack.
Based on one or several features of an MVP, developers plan its architecture and choose the best-fit tech stack. Chief Technical Officers or specialists with sufficient experience are usually in charge of this step.
Cloud technologies provide fast and cost-effective development and offer various tools, making them popular among software engineers. One of the most important benefits of using cloud computing for creating a minimum viable product is excellent scalability. It will be invaluable for changing an MVP into full-scale software.
5. Estimate the time and cost.
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The last "analytical" step of this process is determining the size and composition of a development team, taking into account the information obtained from the previous steps. Based on the determined team, analysts, engineers, and managers collectively estimate the time and cost of building an MVP.
6. Create a usable build of an MVP.
Just like a full-fledged product, an MVP requires the well-coordinated work of designers, developers, testers, managers, and other specialists. The scope of work may vary depending on the project, but this step is usually the most time-consuming in the MVP development process.
7. Release an MVP.
Depending on the set goals, a startup releases its minimum viable product into the market or reveals it to a focus group, such as test users, stakeholders, or investors.
There are two more steps after the release stage, but they aren't always performed by a tech vendor. Sometimes, business owners carry out these stages by themselves. The first is collecting user feedback, and the second one is improving the MVP using the mentioned feedback. These two processes can be repeated in a cycle, creating an optimization routine while it is needed. Such optimizations increase the potential of an MVP by making it more competitive and appealing. They also facilitate the potential development of a full-fledged product based on this MVP.
Benefits of an MVP
Thanks to its unique format, a minimum viable product can offer a range of benefits compared to creating a full-fledged product from scratch. Here are the advantages of building an MVP:
1. Knowledge of the market demand and consumer needs.
The information obtained at the market analysis stage may serve as a validation of the proposed business concept. In other words, the owner of an idea learns that a potential audience needs such software. Business analysts determine that no competitors already provide similar products that solve similar problems as a potential MVP. Depending on the results, the initial idea may proceed further through the stages of an MVP development process.
2. Proven feasibility of a business concept.
Software engineers who participate in the MVP development process determine whether the proposed idea can be implemented at all. Then, they find ways to implement it efficiently as an MVP. This task includes defining the technology stack and estimating the type, quantity, and skill level of specialists needed for development.
As a result, depending on the required team and functionality, analysts calculate approximate time frames and costs for building an MVP. Then, they can extend these estimates to the full-scale software product, which is required to negotiate with potential investors. This way, the owner of a software concept gets reasonable evidence from certified specialists that the analyzed business idea can have tangible implementation using existing technologies.
3. Reduced cost and speed of development.
In the business world, the time to market is vital. A minimum viable software product significantly reduces the time to launch a product. Initial research of business analysts allows stakeholders to choose the optimal time to appear on the market. Many preliminary stages of the software development process are the same for MVPs and full-scale products.
The difference is the number of features and, therefore, the scope of work. An MVP requires less cost and time rather a product with a set of features. A minimum viable product can be "upgraded" to a feature-rich product much faster than developing it from scratch.
4. High potential to attract investors.
The availability of a functional product as proof of a business concept helps pitch new investors. They want to see something tangible instead of just descriptions, slideshow presentations, or non-functional demos. Their behavior is completely justified considering the number and diversity of scams in the business world.
An MVP confirms that a business idea can be realized and transformed into an even bigger and better product if it receives more funding. It also shows that the product owner is devoted to their concept and has already invested time and financial resources into an MVP.
5. Early feedback to improve the final product.
A minimum viable product allows stakeholders to gather user feedback that will be useful for building the full-scale product. Though an MVP offers limited functionality, it has a working backend and frontend and can provide user experience while performing the designed task. The users who tried an MVP can report whether it works as intended on different platforms and device configurations. Additionally, they can share their insights regarding optimization, additional features, and other suggestions to improve the product.
Conclusion
For many startups, the best way to reach investors is to create MVP software, meaning their creators are genuinely motivated to elaborate on a product. Even when no additional investments are necessary, creating an MVP allows developers to prove the concept and mitigate risks. That's why Intellectsoft offers a full range of MVP software development services to kickstart your idea and help it evolve into a full-scale product. Contact us, and we will turn your concept into a functioning marketable MVP.
The hospitality industry depends a lot on keeping customers happy, but it’s
getting harder to attract and keep them. The pandemic hit this industry hard, and now market competition is tougher
than ever, with competitive offerings swaying customers. Hospitality businesses are willing to spend big to win
customers back. The main questions for many are: how can we stay ahead of the competition, keep our customers, and
increase revenue? Keep reading—we’ve got some answers.
Customers today have so many options that
getting their attention is a real challenge. It’s not easy to make them choose your business over others. What
worked 10 years ago doesn’t work the same way now. Back then, people often chose businesses based on reputation. But
with new types of businesses (boutique hotels, craft cafes) popping up or big enterprises getting a new strategy,
expectations have changed. The good news is these businesses have shown what works: great customer
service. They focus on personalizing the experience, making things easy for customers, offering loyalty
programs, and using smart technology.
In this article, we’ll explore these tech strategies and show you how
they can help your business grow, and double the revenue. Keep reading to learn more!
The Importance of Customer Satisfaction
in the Hospitality Industry
Customer satisfaction, which equals exceptional customer experience, is the
backbone of the hospitality industry. It plays a central role in driving revenue and loyalty, as satisfied customers
are more likely to return and recommend a hotel, restaurant, or other hospitality business to others. In fact, a
study by the Harvard Business Review found that a 1% increase in customer satisfaction can lead to a 0.5% increase
in revenue. Moreover, loyal customers are more likely to forgive mistakes and continue doing business with a
company, even if they experience a negative encounter.
Let's quickly review the challenges the hospitality
industry is facing right now so we can move on to the solutions and our case studies.
Challenges in Hospitality
As businesses navigate the changes in the
hospitality industry, there are some key areas where a little improvement can go a long way. From improving customer
service to embracing digital transformation and tackling labor shortages, we’ll take a closer look at today’s
biggest challenges—and, more importantly, how technology can step in to help. Let’s get started!
Poor
Customer Service
Even with strong and high-quality business offerings, poor customer service can
drive potential customers and existing customers away. Common issues include:
Long wait times in customer service queues (it is worth remembering that our attention spans 8 seconds, and we
live in a very busy world, so quick and efficient responses are more important than ever.)
Poorly trained customer service representatives
Lack of follow-up
Services not being done properly or quickly
Recall issues that require multiple service calls
These problems can frustrate customers. But, at Intellectsoft, we believe that the right approach, combined with
technology, can address them effectively.
Digital Transformation Gaps
Approximately 50% of hotels are adopting new technologies, with 43% automating repetitive tasks and 39%
upgrading existing systems. Source: workstaff.app
While many businesses are adopting digital solutions, some
still struggle with outdated systems and fragmented data. Legacy companies often face chaos when trying to manage
their data and create new systems or add features.
Some of the recent examples include clients coming to us to
create AI solutions for their services
while their data simply was not ready for the advanced tasks. We advise stepping back, communicating with a company
objective, and working on keeping the data clean (centralized, structured, and segmented).
When
we’re asked to create advanced systems using AI, we always emphasize the importance of organized data. To train AI
and build such complicated systems that truly work, you need to start from the very beginning—collecting, storing,
centralizing, and organizing it. We encourage our clients to align all departments to work internally on the data so
we can create a unified digital system that delivers personalized experiences.
If you’re unsure where to start
with your data, we can help. Collecting feedback at various touchpoints along the customer journey is crucial for
gaining insights into customer satisfaction and loyalty. Book an IT consultation with us, and our experts will guide
you in mapping out a path to get more from your data and build a system that works for your business and team.
Reskilling Staff
The pandemic hit hard in early 2020, especially for the hospitality and
travel industries. Even five years later, many businesses are still feeling the impact. Recruiting and
retaining skilled staff has become a major challenge post-pandemic.
Reskilling to address technology’s impact is of utmost importance, as about 40% of hotel General Managers
place it among their top three workforce challenges.
We strongly believe that adopting the right technology can help. For example, creating an app to train your staff
not only saves time but also ensures consistency in learning. AI assistants can also work alongside your team,
helping with tasks like recruitment (providing industry insights, crafting emails) and staff training. Imagine
having an app dedicated to making your team’s work easier and more efficient!
How Technology
Tackles These Challenges and Supports a Customer-Centric Hospitality Culture
Automation, AI, and similar
technologies may threaten many. However, the debate about replacing humans isn’t about that—it’s about cooperation
and working hand in hand with technology to achieve the highest standards and establish brand-new “golden
standards.” Technology is here to assist staff in listening to and collecting customer insights from data.
Let’s review some of our cases to see examples of how technology helps improve customer experience and supports
customer service.
Examples of Intellectsoft projects
Property management systems
(PMS)
We created a web platform and mobile app that makes managing daily tasks easier and offers
extra services to improve residents’ experience. It gives a clear overview of daily activities and helps with
managing units and users. Residents can easily book amenities, submit service requests, and report incidents. The
platform also includes features for equipment management, key instructions, workflows, and custom permissions. This
makes it easier for staff to stay on top of equipment and ensure residents have all the information they need. Plus,
tools like announcements, quick votes, a forum, and a community calendar help build a connected and engaged
community.
Guest Experience Management App
Our next app helped our client improve their guest experience by replacing printed
marketing materials and the need for phone calls with a smart solution. Now, guests can easily order in-room dining,
make reservations, and interact with staff— through a simple tablet in their room. The solution includes three
parts: a custom in-room tablet with a variety of services, an admin panel for hotel staff and service providers, and
a backend system that connects everything together. This approach makes things easier for guests and staff,
improving both convenience and efficiency.
Existing Customers First: Building Loyalty with
Personalized Touchpoints
Keeping existing customers is not just a strategy; it’s well-known that
retaining existing customers is more cost-effective than acquiring new ones. In fact, research shows that it costs
five times more to acquire a new customer than to retain an existing one. KPMG named customer retention as the
number one revenue driver for the company.
Moreover, a 5% increase in customer retention can
lead to a 25% to 95% increase in profits, showing the significant impact loyal customers can have on a
business’s bottom line. Retention strategies, like personalized experiences and loyalty programs, can foster
long-term relationships and generate recurring revenue, ultimately making them an invaluable part of any business
model.
Personalization: How Technology Can Help?
Everyone loves to feel special—it’s
part of being human. In hospitality, personalization has evolved from being a luxury to an essential standard. With
the right technology to manage your data effectively, you can deliver those “wow” moments that guests won’t
forget.
More than half of hotel chains are already using personalization features on their websites, booking
platforms, and apps, and another 39% are planning to follow suit soon. They’re tailoring experiences to fit guest
preferences perfectly.
Source: Deloitte
How does
technology make it happen?
CRM Systems: They help you keep track of guest preferences, booking history, and special
requests so you can offer services tailored just for them.
Loyalty Programs: Personalized rewards and offers show your guests that you value them, keeping
them coming back for more.
AI Personalization: AI analyzes guest data to predict what they’ll love (from room upgrades to
local recommendations) before they even ask.
IoT Gadgets: Smart room features like voice-activated assistants, or temperature controls
adjust to your guests’ preferences, making their stay more comfortable.
With tech-powered personalization, you’re building loyalty and maximizing the lifetime value of every
customer.
Our Case Study: Smart Hotel Management & Loyalty Program
For one of our
clients, we created a smart room solution, complete with a custom IoT system. Guests can use a mobile app to
control services, explore amenities, and find resort information-- with a special touch to their suite type. For the
client’s entertainment business, we improved their legacy software by running a full IT and code check, fixing
issues, and making the system better for customers.
Along with that, we developed a mobile app for the loyalty
program, allowing businesses to effortlessly reward their customers and keep them engaged with exclusive
benefits.
Our solutions not only helped the client with special experiences for guests; it also improved
operations, cutting costs by eliminating inefficiencies. Here's what our experts shared:
"We
transitioned away from ESB (Enterprise Service
Bus) systems, which previously cost millions, and replaced them with more efficient, self-managed solutions.
Similarly, we’ve implemented Device Farms that improved operations
and saved resources."
Leveraging Software to
Increase Upsell Opportunities
Here are some examples of tech tactics that will help your team sell more and
introduce new offerings to existing customers, improve overall efficiency leaving your team grateful:
Dynamic Pricing Algorithms
For finance and marketing teams, manually calculating pricing by segment to
introduce your clients can be incredibly challenging. AI-powered tools can strongly optimize these strategies by
analyzing your database in detail.
Upselling via Apps
Boosting revenue in the
hospitality business often comes down to personalized experiences. Imagine this: a guest books a room, and then your
app suggests a spa package or a room upgrade at just the right moment. Later, it nudges them to book a dinner
reservation or a guided tour designed to their preferences. With apps offering these personalized recommendations
during and after bookings, you’re not just increasing your revenue per guest but also skyrocketing their experience.
And you do it in a sustainable way, not by speculating, but by offering what your customers desire based on their
previous experiences. It’s a win-win: seamless, helpful, and far from pushy.
Inventory and Resource
Management Software
Making every resource count in your hospitality business is key. Inventory and
resource management software allows you to effortlessly track everything from linens to room availability, ensuring
nothing goes to waste. Having real-time insights to reduce overstock, avoid shortages, and optimize operations
assists sustainably keep everything under control and know what you need to focus more. It helps maximize room
occupancy by aligning bookings with available resources, ensuring every room and item is used effectively. This
approach leads to smarter management, better guest experiences, and a noticeable boost to your bottom line.
Adopting these strategies not only optimizes your operations but also drives business growth. Ready to discover how
technology can elevate your goals? We’re here to create a tailored solution for you.
Steps For Implementing a Customer Service
Technology Solution
Improving customer service in hospitality doesn’t have to be a daunting task. With the
right technology, you can smooth the path of your operations, speed up response times, and elevate the overall guest
experience. Here’s where you can make it happen:
1. Understand Your Needs
Start by
identifying the challenges your business is facing. Are you struggling to manage high volumes of inquiries, track
customer feedback, or personalize the guest experience? Pinpointing your needs will guide you to the best
solutions.
2. Pick the Right Tools
Choose technology that aligns with your goals. Look
for solutions that are scalable, easy to use, and integrate effortlessly with your current systems. Options like CRM
software, live chat tools, or a guest experience app can make a difference.
3. Equip Your
Team
Technology is only as effective as the people using it. Train your staff to make the most of the
new tools, so they can deliver exceptional service and resolve issues quickly. Confident, well-equipped staff
creates happy, loyal customers.
4. Keep Improving
Once implemented, monitor how well
the solution works. Are response times improving? Are customers more satisfied? Regular evaluations will help you
fine-tune your approach and keep things running harmoniously.
Some Tech Ideas for Hospitality
Businesses
CRM Software: Manage customer interactions and preferences.
Guest Experience Apps: Delight guests with personalized experiences right at their fingertips.
Amenity Management Systems: Simplify operations for everything from room service to facility
bookings.
Live Chat Tools: Offer instant support and answers.
Social Media Management Tools: Keep customer interactions engaging and organized.
Integrating these strategies will not only improve your customer service but also deliver unforgettable customer
satisfaction, loyalty, and, ultimately, your bottom line. Ready to take the next step? Book a consultation with our
experts.
Conclusion
To wrap up everything we've discussed, customer satisfaction and
experience are at the heart of hospitality. Retaining customers is more than just keeping them around—building
strong, long-lasting relationships and consistently meeting their evolving needs. By understanding their pain points
and offering personalized solutions, you can inspire loyalty and drive progress. With the right technology and
continuous improvement, your business can stay ahead, let go of what no longer serves you, and keep growing.
At Intellectsoft, with over 17 years of experience in software
development, our expert team is ready to help. We create everything from mobile apps to full-fledged portals and
systems, leveraging the latest technologies like AI, Cloud, and Machine Learning. With deep experience in the
hospitality industry, we’re here to craft personalized solutions that bring your business unforgettable customer
experience and retain your valuable clients.
Ready to double your revenue and level up your customer retention
strategy with personalized technology? Contact our experts, and
we look forward to working hand in hand with you to build or revitalize the perfect app or system for you.
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