What is Product Discovery? Our Guide to the Process, Basics, and Methods of Product Discovery

How good is the app idea? Will it work the way I think? Will I be able to implement my monetization model?

These are the questions that go through every executive's mind before deciding to implement a project. Sometimes the lack of answers can even make a person abandon a great idea, and we wouldn't want that to happen. That's why we offer a service called Product Discovery. 

Let's talk about the Product Discovery service and why it should be essential before starting any software development project. 

Who is the Product Discovery service for?

Product Discovery is a service for practically anyone who wants to build software from scratch. If you have a mobile app idea and need a development team to help validate the concept, business model, and technical details, then Product Discovery is exactly what you need. It's a way to ensure you are building the right product. 

During this process, the idea is thoroughly analyzed at the technological and business level by a team of mobile app development experts. As a result, both the client and the development company gain a much more complete understanding of potential risks, challenges, and opportunities. 

Thanks to this, much more accurate forecasts can be made, strategic details such as the monetization model can be adjusted, and the best solutions in terms of technology and design can be chosen.

As a software company, we strive to provide our clients with the best conditions for success, and that cannot be done without a deep knowledge of the idea and the problems that may arise. That's why we cannot help but recommend the Product Discovery service and advise it in almost every case. 

What is the Product Discovery stage?

The best way to recommend Product Discovery is to explain what it is. By delving into the details of the process, you will understand how important it is, especially in a complex and competitive field like mobile app development, where there are many possible scenarios. For example, Flutter development can be significantly faster than native solutions, but for your specific project, it might be an unaffordable option. 

So, Product Discovery is the process of understanding the client's idea, identifying potential problems, and confirming that the final product will serve its purpose and meet business goals. It examines the concept from all angles to ensure that the project becomes what it was intended to be, and it is the foundation for a smooth, cost-effective, and low-risk development process.

The result of an effective Product Discovery process is a documented set of findings and recommendations for the development process. And that brings us to the role of Product Discovery in app creation. 

Product Discovery is not part of the product development process. However, it should be considered a necessary prelude. In most cases, project managers divide the project lifecycle into five phases:

1. Initiation
2. Planning
3. Execution
4. Monitoring
5. Closure

Within this model, Product Discovery is a key element of project initiation and planning. It is a vital part of the entire process that makes all subsequent stages possible (or at least manageable and efficient). 

Product Discovery as Step 0 in the Software Development Process

What are the benefits of the Product Discovery service for a CEO?
Most often, Product Discovery is a necessary step in the app creation process.

A methodology that helps shape the initial product idea.

Ideas tend to evolve, especially in the early stages. Product Discovery can play an important role in this process because it helps look at the project from different perspectives and forces you to ask questions that weren't asked before. As a result, serious risks may be identified, allowing you to rethink the strategy and make the final idea significantly better than the original. 

Better understanding of the product's place in the market

Technological questions in Product Discovery are no less important than business ones. During this process, you will learn more about user needs and the product's potential position among competitors, its strongest features, and potential risks.

Creating a product roadmap

Product Discovery helps teams build a roadmap for a new product. By knowing the needs of potential customers, you can select the most significant features that should be prioritized in the development process. This will greatly simplify further product management.

Building the most effective monetization model
During the process, you will learn about the key factors that should determine the ideal monetization model. Additionally, you will be able to assess the return on investment based on this model. 

Choosing the best UX/UI design solutions

The earlier we can make fundamental decisions in UX and UI, the better (and cheaper) for the client. With the help of UX/UI experts, product discovery allows you to make these decisions and define key milestones that will greatly simplify and speed up further work. 

Product Discovery framework in detail

To ensure the process covers all critical aspects, the Product Discovery team always includes these three roles. 

• Developer+Architect
• UI/UX Designer
• Project Manager

Our experienced developers conduct the necessary research and make decisions from a technological perspective. 

The UX/UI Designer is responsible for preparing product sketches and prototypes. 

The Project Manager's role is to prepare business analysis and key product requirements. They also ensure the entire process runs smoothly. 

If the project requires it, additional roles can be added to the team. 

Depending on the scope and complexity of the project, the entire process can take from a few days to a few months. However, the average time is 2-3 weeks. After this period, the Product Discovery team is ready to present the path to building a minimum viable product (MVP) or a full version of the product. 

There are several product discovery methodologies, but we have refined our process based on the needs of our clients. Depending on the industry or app type, it may vary slightly, but the essence remains very similar. For example, the industries and app types in which we are experts include:

• iGaming development
• Fintech development
• Sports betting software

Knowing the unique challenges in these areas, we can tailor the process to the specific needs of the client and use our experience to shape projects of this kind in the best possible way.

But overall, the product discovery system includes four stages:

1. Problem Discovery
2. Problem Definition
3. Solution Discovery
4. Concept Validation

Here is how these stages fit into the entire software creation process. 
The first stage, Problem Discovery, focuses on defining the purpose of the app, user needs, and how the product will meet them. It includes activities such as identifying all potential stakeholders, creating a user persona, and conducting market research. This is the most research-intensive part of the process.

In the second stage - "Problem Definition" - we define the problems and prioritize them based on their potential impact from a user's perspective. After that, we are ready to compile a list of KPIs and "North Star" metrics.

In the third stage, Solution Discovery, we find potential solutions to the previously listed problems. At this stage, we address these problems from both a technological and UX/UI perspective. 

The last stage is Concept Validation, which involves testing these solutions by preparing mockups, MVP models, or even a prototype. After this stage, we will have product vision documentation, cost estimation, a software requirements specification, and much more.