Brand new entrepreneurs start researching app development services and backend web development before they discover that, for a product idea to garner interest, learning about the types of MVP is crucial in the beginning stages! With the multifaceted roles of MVPs, it’s difficult to differentiate between the ones that would be ideal for your specific product. Without further ado, let’s explore this uncharted territory for many business professionals.
So, what types of MVPs will you be able to find? First and foremost, there are two big groups under which all of them are categorized: high-fidelity and low-fidelity. The high-fidelity digital prototypes, 3D models, crowdfunding, and the “Wizard of Oz” MVP. The low-fidelity MVPs include forums, blogs, landing pages, and the “Fake Door.”
Let’s Start With the Basics – What Is a Minimum Viable Product, i.e. MVP?
What is an MVP? First and foremost, MVP stands for the minimum viable product and is a foundation building block for determining whether your ideas would find interested customers in a particular market. The product’s rudimentary version the startup uses for this test includes only a couple of features that are enough to acquire informative feedback.
Many don’t know that this concept of market testing was popularized by Eric Ries in the book “The Lean Startup,” forever changing the way a desktop application development company and a mobile app development company would approach the creation of products.
Why Are MVPs Essential For the Future Success of Your Business?
The secret weapon that would arm you with the much-needed knowledge about the customer’s preferences and needs is hidden in a strategically developed MVP. The key advantages that reveal why companies need them are:
- Cost efficiency – Get a chance to allocate your resources reasonably since you need to focus only on the primary features,
- Quick improvement – The product’s future will be promising once issues are eliminated right away with the help of user feedback,
- Minimizing potential risks – The most important problems that need to be avoided are developing something with many drawbacks and losing money, and with MVPs, this can be avoided.
What Are the Characteristics and Examples of Different Types of MVP?
The reason behind the large number of MVPs hides mainly in the fact that different ones cater to diverse marketing strategies and miscellaneous business needs. They are categorized into two groups – low-fidelity and high-fidelity.
People assume that the first category entails primitive concepts. However, the truth is that, in comparison with high-fidelity ones, they are less advanced. To gain a better understanding of this dichotomy, check out the table below.
| Types of MVPs | Complexity | Purpose | Main Goal | Examples |
|---|---|---|---|---|
| Low-Fidelity | They are considered basic without complexities regarding the developing phase. | They are meant to evaluate the customer’s problems and assess whether a solution is needed. | Understanding the issues a customer faces. | A landing page, the “Fake Door,” blogs, email campaigns, forums and marketing campaigns. |
| High-Fidelity | An entrepreneur needs the help of professionals for the creation of these types. | They aim to focus on the engagement of early adopters and determine what amount of money users are willing to pay for a particular service. | Figuring out the answer to the question, “Are customers ready to pay?” | 3D models, digital prototypes, the “Wizard of Oz” and crowdfunding |
How Can You Benefit From Low-Fidelity MVPs?
Even though they are thought of as less advanced techniques to garner interest and information, low-fidelity types are cost-effective and present a simple way to avoid unnecessary expenses, enable rapid testing, and prevent costly MVP mistakes down the road. Let us demonstrate how some of them can work in your favor.
“The Fake Door” MVP Is A Useful Method For Learning How Users Perceive the Product
Will the service prove to be needed? There is no need to pick anyone’s brain for a long time; just create a non-functional link or button that would “lead” a user to a feature. The only thing you have to do is measure how many people clicked and were interested.
With a Landing Page, You Can Collect Contact Information and Use It For Additional Marketing Needs
Do you need a pre-launch user base? No need to worry since, with a landing page, you can collect valuable contact information. The product doesn’t even have to be fully developed for you to get users interested and collect their contact info via the landing page.
Validate Your Ideas and Get Knowledge on Customer’s Problems Through Blogs and Forums
A brilliant way to gain insight into the customer’s problems is by utilizing blogs and forums. Monitor the blogs and engage in discussions so as to identify pain points. For instance, Reddit has many “subreddits” where different topics can be discussed, and entrepreneurs can gather feedback.
How Can You Benefit From High-Fidelity Minimal Viable Products?
Taking the whole process up a notch is possible with high-fidelity types. They bring the wow factor since you need to invest in advanced functionality and polished design. However, this time, you will need MVP software development to impress the early adopters.
The Wizard of Oz MVP Provides Info About the User’s Behavior
It might seem like you are getting a glimpse behind the curtain in the Land of Oz with this approach. With this type, the behind-the-scenes team would have to operate the technology manually, while for the user, it will appear to be automated. Without fully developing the technology, you can learn about the user’s behavior.
A 3D Model MVP Is Useful If You Will Manufacture Your Product
The best thing an entrepreneur can do when a future product needs to be manufactured is to create a three-dimensional digital representation to avoid costly physical prototypes. This will provide insight into the issues with the design and fine-tuning of the features.
One of the Best Examples We Offer to Assess the Demand and Raise Money for Your Idea Is Crowdfunding
If you create an interesting campaign showcasing the benefits and concept of the product, mainly through an interesting video, you can evaluate how many people would be adopters and if there are any investors for the idea. The word can be spread with the help of early adopters, and you will have followers before even developing the service.
Let Us Help You Make Your Business a Success
Get your ideas off the ground with the experts in the field of MVP software development. The process of testing out new services can be very easy if you take the time to contact us and learn all that we can do for you. Juratech Solutions offers services such as desktop development, frontend web development, and backend web development, as well as hardware prototyping. Every case will be assisted with the required services to ensure that the future business will be successful and the demand will be evaluated correctly.