What is a Minimum Viable Product?
A Minimum Viable Product (MVP) is the first version of a solution built with minimum features within a faster development period. This allows you to get the input of users at an early stage and adjust your product accordingly. Hence, you will have time to further develop your concept. A startup MVP development strategy paves the way for your product to succeed in the market.
MVP Development Benefits
Start-Ups MVP Development Examples
Landing Page MVP
A video MVP is when you introduce your product by recording an explanatory video and uploading it to YouTube. It should demonstrate what the product is and how it would help customers who buy it. If the video is engaging, it can go viral and automatically create a word-of-mouth campaign. However, it’s a risk knowing that not all videos get that chance.
An example of a successful video MVP App development Services for a tech startup is Dropbox. The three-minute video they created explained the intended functionality of Dropbox, which led to an overnight increase in signups from 5,000 to 75,000. The actual product was not even ready yet, but people saw the potential.
A piecemeal MVP uses any free digital platform to present a product to customers. You can choose social media platforms to launch a campaign, mass mailing, or any third-party software or applications that already exist.
Groupon used the piecemeal model to build their MVP. They connected customers with local grocery stores and companies, offering discounts for their services. They also used FileMaker to generate coupons, and Apple Mail to send those by email.
Which MVP is the Best?
- Low fidelity MVPs give basic results that help you understand the needs of consumers. It gives you insight into whether your idea is worth developing further.
- High fidelity types give more in-depth results, but also require more resources. They identify the interests of consumers and whether they are ready to make a purchase. It can also gather feedback from real users to develop the product accordingly.
Once you find the required fidelity for your project, choose your MVP type by answering these questions:
- What is the highest risk you are facing and how can you investigate it?
- What’s your timeline to build an MVP and receive results?
- What is your budget?
For your startup MVP development to succeed, the first thing you should identify is the target audience of your product.
Your consumer base consists of the users who will relate to your product and benefit the most from its features. To identify your target audience, put yourself in the shoes of your ideal users.
Who will benefit the most from your idea?
Hire an MVP Developer
Your MVP developer can be a freelancer or part of a development company. If you want to hire a company, we suggest you make sure to find thorough reviews about it and take a look at their previous clients.
Whereas if you prefer to hire a freelancer, which is less costly, you will have to go through an interview-based hiring process that gives you a chance to find the candidate closest to the expertise and mindset you are looking for.
How can you market a product that is not yet complete? In fact, it is best to start promoting your MVP as early as possible. Your marketing plan depends on the purpose of the product and its allocated budget. If you have a limited budget, the most cost-effective way to promote your MVP is through inbound marketing like social media, blog posts, newsletters, and networking.
If your budget allows, you can always use outbound marketing which is more traditional and costly. It includes tactics like push messaging, cold email outreach, display advertising on websites, and activities like seminars.
The marketing campaign is always followed by an analysis of your MVP performance and gathering feedback from users. To do so, you can use metrics like the number of installs, number of active users, session durations, customers’ satisfaction, and of course sales and revenues.
Don’t let all the MVP planning burden your mind.
How long should an MVP take to build?
It all depends on the development approach you choose, features you want to implement, design complexity, and the experience of your team. A complex project could take up to nine months, but the range is usually three to four months.