What is an MVP experiment?
- A Minimum Viable Product experiment is not the first release of a product, but rather a structured experiment (preferably without any code) that helps to validate the most riskiest assumption of the solution, mainly to check if people will want this solution and if this solution really solves the problem at hand.
- The main concern of the experiment is learning and the experiment can be disposed afterwards.
MVP experiment allows to fail fast and at a relatively low cost.
What are possible MVP experiment types?
- Email MVP: sending an email to potential customers pitching a new product.
- Pros: cheap ; fast ; targeted ; limited damage
- Cons: might not be appropriate for the brand of the company
- Video MVP: video showing how your product will work.
- Pros: more appealing than text
- Cons: more costly to produce and requires good creative
- Landing Page MVP: build a web page describing your product and add a call to action button or allow to register.
- Pros: relatively simple
- Cons: might not work for enterprise products
- Shadow Button MVP: in case you already have a product, you can show a button that supposedly activates a specific feature leading to a 404 error page or Coming Soon page.
- Pros: generates great data (number of clicks signals the amount of interest)
- Cons: might invoke a negative response from the users
- Concierge MVP: servicing the customer is done manually.
- Pros: allows asking the user directly regarding their satisfaction from the service
- Cons: requires resources for every service given
- Wizard of Oz MVP: customers believe they are interacting with your product whereas behind the scenes a human is doing the work.
- Pros: makes the user think this is a complete solution
- Cons: requires resources for every service given ; users might think this is a scam
- There are additional types such as Crowdfunding MVP, Piecemeal MVP, and more.
What should you do next according to the results?
- Pivot (find a new direction based on some original assumptions)
- Continue forward
- Stop
- Try again