lesson 4 - minimum viable products...lesson 4 - minimum viable products luca barboni - digital...

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Lesson 4 - Minimum Viable Products

Luca Barboni - Digital Marketing - LM-77


This is your product


1M$ Question:

What exactly is an MVP???


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


Examples of MVP: Product Pitch


Examples of MVP: Product Presentation


Examples of MVP: Mockup


Examples of MVP: Video Concept

Use Case Animation / Screencast of the product


Examples of MVP: Landing Page


Examples of MVP: Concierge / Wizard of Oz


Examples of MVP: Single Feature Prototype


Examples of MVP: Crowdfunding

HOW TO CHOOSE YOUR MVP


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?


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. “


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


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


THANK YOU

Luca Barboni - Digital Marketing - LM-77

lesson 4 - minimum viable products...lesson 4 - minimum viable products luca barboni - digital...

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