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Lesson 4 - Minimum Viable Products
Luca Barboni - Digital Marketing - LM-77
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This is your product
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1M$ Question:
What exactly is an MVP???
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1M$ Answer:
“An MVP is a version (feature) of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.”
DIFFERENTTYPES OFMVPs
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Examples of MVP: Product Pitch
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Examples of MVP: Product Presentation
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Examples of MVP: Mockup
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Examples of MVP: Mockup
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Examples of MVP: Mockup
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Examples of MVP: Mockup
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Examples of MVP: Mockup
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Examples of MVP: Video Concept
Use Case Animation / Screencast of the product
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Examples of MVP: Mockup
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Examples of MVP: Landing Page
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Examples of MVP: Landing Page
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Examples of MVP: Landing Page
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Examples of MVP: Mockup
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Examples of MVP: Mockup
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Examples of MVP: Mockup
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Examples of MVP: Mockup
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Examples of MVP: Concierge / Wizard of Oz
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Examples of MVP: Mockup
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Examples of MVP: Mockup
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Examples of MVP: Mockup
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Examples of MVP: Single Feature Prototype
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Examples of MVP: Mockup
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Examples of MVP: Crowdfunding
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Examples of MVP: Crowdfunding
HOW TO CHOOSE YOUR MVP
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3 Questions:
1) What do you want to validate?
2) What are you going to measure?
3) What will be a success or a failure to you?
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3 Variables:
1) High/Low Fidelity to the final result
2) High/Low Scalability of exposure to customers
3) Short/Long Feedback loop before getting data
“Make things people want.” - Paul Graham
“Make things people want.” - Paul Graham
“One metric for Product/Market Fit is if at least 40% percent of surveyed customers (Users) indicate that they would be "very disappointed" if they no longer have access to a particular product or service. “
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Product / Market Fit Cues
● Very strong word of mouth between customers
● Lots of customer complaints when service is down
● Users in other niches asking for the product
● If you’re there… you just know
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Product / Market Fit Cues
“One metric for Product/Market Fit is if at least 40% percent of surveyed customers (Users) indicate that they would be "very disappointed" if they no longer have access to a particular product or service. “
● Very strong word of mouth between customers
● Lots of customer complaints when service is down
● Users in other niches asking for the product
● If you’re there… you just know
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THANK YOU
Luca Barboni - Digital Marketing - LM-77