What is a Minimum Viable Product. (MVP)
Today we will talk about Minimum Viable Product (MVP). The upcoming article will discuss the MVP with a practical example.
Textbook Definition:
A minimum viable product, or MVP, has enough features to attract early-adopter customers and validate a product idea early in the product development cycle. In industries such as software, the MVP can help the product team receive user feedback as quickly as possible to iterate and improve the product.
When you develop any software, you need to decide between must-have and nice-to-have features.
While it’s easy to say you need to focus only on must-have features in MVP, it’s difficult to convince the client or resist the urge as a founder to cut down on nice-to-have features.
Origins
2009: The concept of MVP gained popularity after Eric Ries described it in his book the Lean Startup.
Why MVP is important:
If you are developing a product, then customer feedback is vital. And getting customer feedback fast and improving the product play a pivotal role in the product’s success. MVP plays a significant role in the Feedback loop.
In the MVP, you must add the core features of the product. Ship the product to the customers and get feedback from them.
The features that the product team thinks are essential for the customer might not be helpful. Customers will quickly suggest a few features that the product team needs to ship in the next cycle. The early adopters of your product will be the significant advocates of your startup. If you serve them right, then they will be your marketing machine.
How to measure MVP feedback:
While the product team will get feedback from real customers through personal interviews or email, There are a few ways to collect the data points through analytics. Here are must-have points for any to collect the data for MVP usage.
1) Mobile App / Website:
- Firebase crash analytics
- App Analytics
- Mobile App API speed checker.
- User journey
- Conversion events.
How to decide on the features in your MVP?
- What is the problem the product is supposed to solve?
- What are the core features required to solve the problem?
- What are the essential addons to make users’ life more manageable?
- Few take ways:
- Focus on the core functionality
- Customer Feedback is vital.
- Keep focusing on speedy delivery
- Never ignore user experience and design.
The following article will discuss the practical examples of Video Chat app And ERP system MVP.
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