The “minimum viable product” (MVP) is a version of a product/service that has a set of features sufficient for its presentation to and testing by its first users. It is a complete, usable product that fulfils its stated function.
For example, publishing a beta version of your website allows you to study user behaviour and gives you ideas about further additions to improve user experience.
The MVP approach is useful for any business because it allows you to:
save time and money on market and target audience analysis
deliver a product faster and generate profits before its final development is completed
get feedback from the target audience to finalise the product.
Surprisingly, we see many cases in which a client wants "everything at once" when they’ve only just started bringing a brand into the digital world. This can lead to a dead-end. Business owners get bogged down in a jumble of details that don’t have any impact on the end result, instead of focusing on the essence – the maximum benefit for the product with the minimum effort on their part.
At the beginning, the focus should be on determining what will allow you to implement the main function of the product. The product can be launched without every possible variety of functions originally conceived by the team.
Remember, trying to create something "perfectly perfect" can be very expensive for your business. You may lose time and profits when you could be making money and getting real user feedback to improve your offering.
How do we utilise MVP in our design approach?
1. We concentrate on finding the simplest solutions, taking into account the needs of the target audience (keep it simple)
Wix is the ideal platform for creating digital products with minimal development costs and maximum functionality. Using various ready-made solutions from Wix, you can present and test products of any complexity.
2. We focus on the main benefit of the product for users We don't like to overload sites with features and value propositions. Research shows that the maximum number of features per product should be no more than seven (3-4 is even better).
3. We always find the most vivid visual and verbal ways of communicating product values
Millennials and Gen Z make their choices based on design – it also plays a huge role in the MVP philosophy. (This covers both the user experience and the general concept of the brand's visual strategy.)
While the MVP approach initially arose in IT, it also works well in the sales of goods/services and other areas of business. It can help you to save money, improve your product, build clientele and attract investors.