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How to Build a Software Product?

23
May
2024
How to Build a Software Product?

Software products are at the forefront of the modern experiences of a digital world. Yet, building them can be a complex journey, so it’s key to understand how to build a software product! This blog post will be your start-to-release guide with everything you need about software products. Let’s get started! 

What is a Software Product?

To sum it up, a software product is a solution that caters to and solves specific user requirements within a target market. When building these products, teams must follow specific technical and architectural processes, from paying attention to functionality to ensuring peak-performing User Experiences (UX). 

The whole process relies on continuous improvement by harnessing Usability Testing and User Testing to understand user behavior and improve quality. Ultimately, this results in a viable idea that pairs well with users to meet their needs, whether it’s a simple Mobile App or a complex business system. 

How to Build a Software Product?

Product building is a journey of well-planned steps that begins with a Business Analyst setting off to ensure the goals are clear and attainable. These professionals ensure that the software application aligns with what the business wants and the users' needs. These edges will set the features and UX your product needs to focus on.

Further, leveraging an experienced and skilled Project Manager, as well as a dedicated team of Product Designers and Developers for all stages of the Development Lifecycle, has the power to make or break your software product. Teams work from ideas to release while also adopting an Agile process, iterative approaches, and feedback-based refining.

How To Plan The Software Product Process?

1. Audience

It’s important to know who you’re making a product for before starting! Understanding your target audience's age, preferences, and the problems they face is key to creating a product that acknowledges their specific needs. That's why User Personas exist! By knowing who your typical users are, you can empathize with their needs and behaviors.

2. Goals

The next step is to make sure you have clear and set goals for your software project. Here, frameworks like SMART ensure well-defined objectives while guiding you through the entire process. The SMART framework stands for Specific, Measurable, Achievable, Relevant, and Time-Bound goals:

SMART Framework: Specific, Measurable, Achievable, Relevant, Time-Bound
S- SPECIFIC
Clearly define what you want to achieve. Instead of a vague goal like "improve user experience," aim for something specific like "reduce user onboarding time by 20% within the next quarter."
M- MEASURABLE
Quantify your goals so you can track progress and success. "Reduce user onboarding time by 20%" is measurable because you can track onboarding time through analytics tools.
A- ACHIEVABLE
Set realistic and attainable goals within your resources and timeframe! Don't aim for a complete overhaul of your UI in a single week — start with achievable milestones.
R- RELEVANT
Ensure alignment between your goals and the overall business objectives. If your company is focused on increasing customer acquisition, a SMART goal can be to "improve website signup conversion rate by 15% in the next six months."
T- TIME-BOUND
Set a clear deadline for achieving your goals. This definition helps teams establish hierarchies and priorities while tracking progress. "Reduce user onboarding time by 20% within the next quarter" allows you to hierarchize what to do to achieve it.

3. Budget

From the beginning, consider how much it will cost to hire developers, pay for licenses, set up infrastructure, market your product, and keep it running. You should also decide whether to seek (or not) funding resources. Yet budgeting goes beyond initial costs, as you must think about how much it can cost to scale and keep up with over-time changes.

A great example is the 70/20/10 rule: 70% of your budget goes to dev, 20% to marketing and sales, and 10% to operations and maintenance. However, the specific allocation will depend on your product's complexity, marketing strategy, and operational needs. It all comes down to smart financial planning! 

Considerations

A key component of all successful software products is their UI/UX. A good User Interface (UI) helps users figure out how to use your product, and the User Experience (UX) ensures users get things done quickly and easily. Of course, both UI and UX should be aligned with your brand identity so users can recognize your product immediately. Well-thought products in unified environments are essential to happier users.

Also, don’t try to save money by leaving Product Management aside! PMs are your product’s captains, leading it through all stages to steer it safe and sound to success. They further lead strategic decision-making to launch successful products that are relevant yet sustainable while also standing out in customer engagement.

Conclusion

To build successful software from scratch, you need a clear plan and a competent software team. Focus on user feedback, adopt an Agile approach, and prioritize the software program's quality through user testing. Stay up-to-date with the latest tools and technologies, and you'll achieve success in the digital world!