July 18, 2019 // By Magenic
We’re guessing you know what minimum viable product (MVP) is. But do you know how to maximize it? As noted in our newest white paper, “Five Steps For Choosing The Right MVP,” if used correctly, MVP can provide benefits throughout your product lifecycle, not just in the early stage.
Your MVP will help your team find out if anyone will actually care about and use your product – and how. You need to get the answer to this question quickly. One of the temptations that product owners face is rushing to market with blinders on. With MVP you can drill down to the truth of your prospects.
There are multiple types of MVPs, which offer various benefits. Here’s a brief synopsis of four of the most common:
Concierge replaces a complicated technical product with humans, which allows you to interact with customers and understand their feedback. This will give you a strong foundation to iterate on your product offering
A landing page describes your product and illustrates benefits and includes a button with a call to action. The advantage of a landing page is it contains a description of your unique value proposition and allows you to capture information from consumers.
Wizard Of Oz
The Wizard of Oz MVP provides a technical environment with a human behind the scenes powering the back-end. The customer believes she’s interacting with an automated product, but in reality a human is pulling the levers and delivering the service.
Creating an email takes less effort than building a product. If you have existing customers, you can begin by creating emails to see if the response to your product is favorable.
Before it went live in 2008, Dropbox offered a video of the product narrated by CEO Drew Houston and targeted at a community of technology early adopters. In the video was a link for user sign-ups. The feedback was immediate, with hundreds of thousands of people going to the website.
If you’d like more MVP insights, check out our white paper, “Five Steps For Choosing The Right MVP.”