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You've Launched Your MVP - What Now?
- 1. @majemuoluwa_ from @chakastocks You’veLaunched Your MVP - What Now?
- 2. I’m Majemuoluwa Product Manager, Chaka Ex- The Bulb Africa, Venture Garden Group Passionate about Tech | Art | Food @majemuoluwa_
- 3. You have anidea of a product you want to build. Now what next? How do you bring this idea to life? IT STARTS WITH AN IDEA
- 4. MINIMUM VIABLE PRODUCT (MVP) An MVP (Minimumviable product) is a basic, launchable version of the product that supports minimal yet must-have features (which define its value proposition). An MVP enables early testing of the idea with actual users to check whether the product is able to solve their problems efficiently An MVP is created with an intent to enable faster time to market, attract early adopters, and achieve product-market fit from early on. VALIDATING THE IDEA QUICK LAUNCH WHAT’S AN MVP? INITIAL CUSTOMERS Get the first set of users to use and interact with your product and see if they get value out of the product.
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- 6. EXPLORING NO-CODE MVP ● It costsless money, time and energy to build with no code ● A no code MVP is more flexible ● It’s way faster to market Two excellent examples of no-code MVP are Dropbox and Buffer, where Dropbox made a video and Buffer made a landing page.
- 7. You’ve Launched YourMVP - What Now?
- 8. - Just havinga good product doesn’t means users will automatically sign up to use it. If no one knows about it, then it won’t take off. - Promoting your MVP takes more than just setting up a web page or emailing some subscribers to attract users who’ve never heard of you before. You’ll need a strategic plan that’s unique to your business, product, and market. - Hopefully, even before launching your MVP, you validated your idea with a test market or audience. If so, this audience could be some of your first beta users. PROMOTING YOUR MVP
- 9. MEASURING SUCCESS You can getNarrative / Descriptive feedback through surveys, questionnaires or interviews You should track quantitative (numerical) data to determine whether your customers found value in your MVP. For example, let's say you have high download rates, but low engagement rates with your product. This could point to problems with the usability of your product and prompt you to investigate further. QUALITATIVE MEASURE QUANTITATIVE MEASURE The most important measure of success is whether you sufficiently solved a problem that your users care about.
- 10. PRODUCT MARKET FIT (PMF) Product-market fit isthe number one reason why startups/products succeed. We’ve all heard that product/market fit drives startup success — and that the lack thereof is what’s lurking behind almost every failure. Superhuman turned the process of measuring PMF into a 5 step engine. ● Survey to ask your users "How would you feel if you could no longer use Superhuman?" ● Audience Segmentation to find supporters and paint a picture of high-expectation customers ● Analyze feedback to convert on-the-fence users into fanatics ● Roadmap your improvements by doubling down on what users love and addressing what holds others back ● Track product/market fit over time as your most important metric https://review.firstround.com/how-superhuman-built-an-engine-to-find-product-market-fit
- 11. To increase yourproduct/market fit score, spend half your time doubling down on what users already love and the other half on addressing what’s holding others back. 1. Start with Product Vision 2. Determine your Product Goals 3. Review and manage ideas 4. Define features and requirements 5. Organize into releases PRODUCT ROADMAP
- 12. Does anyone haveany questions? majemuolowo1@gmail.com chaka.com THANKS