MVP – 5 Minutes to Better Marketing
Most Valuable Player, right? In the startup world this more likely referring to Minimum Viable Product. The holy grail of the shoestring startup. The least expensive, intensive version of your product or service. The version that allows you to see if your product with sink or swim on the open market without making a huge investment. While this concept is well known and accepted in product and service development, it can also be used marketing your business.
Do you have a marketing idea that you want to try out? A new market that you would like to explore? Consider the MVP model as a first step. With your ultimate marketing goal in mind – what is a lighter, cheaper, faster version of your campaign that you can use as a test? We have a few tips that may help in one of our previous articles, Act!
If you are thinking of developing a web series. Try one or two episodes first and get them in front of a laser focused group of potential clients. Are they interested? Are you getting positive feedback? Expand the campaign. Hearing crickets? It’s time to retool your series or perhaps your target market for this campaign.
Considering a give-away? Develop a low cost version and get it in the hands of a small number of potential clients. What’s the reaction? Gauge it and adjust accordingly.
The concept can be applied to any number of campaign ideas. What MVP marketing campaign could help your business?
Takeaway – Use the MVP concept as a low risk way to test new marketing ideas and markets.