Call it the Silicon Valley effect. Today, mainstream businesses are trying to innovate faster with a popular tech tactic – MVP, or Minimum Viable Product. The thinking? Get it out in market, then refine it through an agile approach that validates what customers want. Beats spending years in development, right?

Making sure MVP is truly viable
Recently, we worked with a major insurance company, fast-tracking a product launch. Here are five key MVP lessons we took away:

1. Collaborate, collaborate, collaborate – across product, sales, marketing, UX/Web and customer service. The faster you’re moving, the more potential for something to slip through the cracks.
2. Get close to your target. Buyer personas and customer journeys will give you the level of detail you need.
3. Weed out weaker concepts. We recommend testing up to 6 product concept statements, then focusing on the most promising.
4. Be nimble, as well as quick, with your marketing. Rolling tests of CTAs, messaging, imagery and social channels will help establish your control.
5. Emphasize “viable,” not “minimum.” While your product or customer experience can skip some bells and whistles, it still has to be good.

Interested in MVP? Email us to get the max out of your Minimum Viable Product.