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Minimum Viable Product: What Model to Choose?

#MVP

Building an MVP provides you along with your customer with a clear understanding of the specifics or drawbacks of your project. It examines the soil before making vital decisions so you can definitely give it a go.

Then, what is the range of MVP models from which we may elicit the best one? Let us clarify their types and help you to choose the most appropriate for your business.

Modern MVP strategies are split into two main groups: low-fidelity and high-fidelity ones with an extended list of their types.

Low-fidelity model is understood as simple and basic. It does not take much effort to create and it ensures the most general results of examining the market and the audience. This MVP serves to identify the client’s appeal and outline possible solutions.

There are 3 types of low-fidelity MVP:

  • The Fake Door. The aim of this type is to obtain the precise response, whether the market needs the project you present or not. This technique involves creating the fake product, better say, the unfinished model and analyzing the client’s demand. It is a time and funds-saving model, which can help you to fully acknowledge your product, its odds and flaws. Although it could hardly provide you with precise data as this type of testing does not always correspond to reality. This way each investor should take responsibility for starting the next developing stages as it is just a general outline of the product specialities.
  • Landing page. It is one of the quickest and most efficient ways to get your audience’s feedback. As small projects encounter difficulties in it due to the lack of a vast base of possible clients, building a landing page can attract new visitors and set the ground for further investigation. The core principle of this model is the promotion of your product as if it were done and dusted. In fact, you simply alter stages of marketing and development in order to get trustworthy analytical information. A successful Landing page presentation is introducing key elements of your project to the audience and urging them to decide about sticking to it in the most natural and real-life conditions. Usually, it involves writing some headings like “Sign up for more information”, “Subscribe to get further information” or just “Coming soon, put your email below to get a reminder when we are ready “.
  • Email Campaign. Email still is one of the best ways to reach your client with instant feedback. Applying it to your MVP could provide you with all necessary data without many endeavours. Specifics of this type of MVP is that its primary goal lies in engaging the client. In doing so, special attention should be paid to the marketing staff recruitment. However, the lack of a strict list of email addresses could become a stumbling block unless you obtain or buy it. Testing your idea with an Email Campaign entails some other beneficial additions to your clients’ involvement such as establishing pricing discounts for early birds and targeting their needs by acute texts is highly paramount. The time limit of Email Marketing is considered to be a milestone as it is hardly possible to proceed with fostering your readers’ interest for a long period of time. Thus, proprietors opt for this model keeping in mind product launch at quite short notice.

Moving further to the high-fidelity MVP models, it must be pointed out that their functional basis is more complicated to build. At the same time, the list of advantages is even more extended than in the low-fidelity types. As the result, you get a precisely tested and analysed model, fully prepared for future development and implementation.

Commonly, high-fidelity MVP models are divided into:

  • Single-feature MVP. It is the most spread type of minimum viable product. It can be easily interpreted from the name that this model has only one core characteristic which is predominantly dedicated to examining the client’s ability to buy the product. This approach is suitable for those projects that have already taken the decision on the feature that will be the major one. That is why the main task is to focus the developing process across this sole feature. Correspondingly, it will be the first emphasis in the presentation. Building your MVP across only one feature significantly reduces funds, saved money could be applied to other spheres such as software development, promotion, increasing the quality etc. Having only one point to concentrate on can prompt the whole process, as you put efforts in one way, accelerating launch and future vending.
  • Pre-Order MVP. This type determines the creation of the basic model of your product and attracts clients to buy it although it has not been finished yet. They are induced by the additional bonuses the company offers. However, the service and project must be well-organised in order to create a solid impression and make them trust you. Owners tend to choose this model because it implies prepayments that can be used as investments. Problems can occur when creating a pre-payments appeal if your venture is not widely-known or seems not trustworthy. That is why when sticking to this model, companies must care for their reputation.
  • Concierge MVP. This approach is applied usually in the early developmental stages when the automated software is not ready. Thus, human performs the role of the machine by assisting the clients, operating the platform, resolving their tasks manually. In most cases, the user is notified about this specific. It is seen as an effective and money-saving way to analyze your audience and predict the success of the product when the product itself is being created. Obviously, human assistance cannot perform all automated functions, that is why it covers only the main ones, creating the general outline of the future product. Nevertheless, it is perceived by the audience as a fool-proof system, there is room for human errors, so the function of this MVP model is restrained just to the pre-launch testing model.
  • Wizard of Oz MVP. If any associations have appeared in your head so far – yes, this is exactly what you think. The same as in the movie the Wizard changed the image from the green head to a fairy or from a fireball to a monster, creating the magic picture, while conducting all this process just by pulling levers, the MVP product work in this way as well. The prototype of your project looks like a perfectly created and finished product, although it is done by manpower. With this technique, you can quickly gather the response from your clients. But the difficulties are in conducting all processes manually, also it can be challenging to finish the development and achieve the automated service. This prototype provides the customer with a solid image of their future purchase and at the same time, a whole lot of time is saved from writing the algorithms.

Now, the flow is yours. We presented the main MVP models and choosing the most suitable one is completely your responsibility. In case you may need some additional details, contact our manager. We will advise and give you a free consultation on the proper model for the business you own.

Let’s make the magic together!

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