If you are going to be bringing an MVP product to the market, you need to make sure you launch it successfully. There are a lot of different factors that need to be considered during the product launch, which is why we have put this blog together.
According to professor Clayton Christensen from the Harvard Business School, there are more than 30,000 new products introduced each year. Remarkably, 95 percent of these products fail. That’s a lot of failed products!
This is why you need to do everything in your power to make sure that your MVP product is a success. Your product launch plays a key role in this.
What is a Minimum Viable Product?
A minimum viable product(MVP), otherwise known as an MVP, is a product that has sufficient features to attract early-adopter consumers and validate the idea for your product early within the product development cycle.
In sectors such as the software industry, an MVP can assist the product team in terms of quickly getting user feedback so that the product can be iterated and improved.
As the agile methodology is built on the validation and iteration of products based on consumer input, the MVP plays a vital role in agile development.
The purpose of an MVP
Eric Ries introduced MVP products as an element of his Lean Startup Methodology. He explains the purpose of an MVP as follows: it is the version of a new item that gives the team the ability to collate the maximum amount of validated learning about consumers with a minimal amount of effort.
A business may decide to develop and release an MVP because the product team wants to do the following:
- Learn what resonates with your target market and what does not
- Test an idea with real users prior to committing a large budget to the full development of the product
- Release a product to the market as quickly as possible
Aside from giving your business the ability to validate an idea for a product without the entire product being built, an MVP can also help in terms of minimizing the resources and time you may otherwise commit to building a product that is not going to succeed.
How can you successfully launch an MVP product?
Now that you know why MVP products are important, let’s take a look at some tips and advice on how to launch one effectively:
Send out a killer product launch email
There are lots of different puzzle pieces when it comes to launching a product successfully. Impressing with an effective product launch email is imperative.
You can learn more about the different styles of product launch emails that are available. Using a template is the easiest way to make sure that everything looks stylish and is on-brand.
Using product launch emails is an effective way of creating anticipation before you launch your product.
Carefully consider your goals and how you want the product launch to be structured before you create your product launch email sequence.
If you intend to launch a product that is evergreen and will always be available to buy in your shop, this would require a different email sequence in comparison to a product that is only intended to be available for a limited time frame.
Irrespective of how you structure your product launch campaign, using email templates to make the most of your launch makes a lot of sense.
Consider what type of product launch makes the most sense for you
You need to carefully consider what approach you are going to take when launching your MVP product. Should you go for a dark launch? What about a soft launch? Let’s take a look at the different options:
Soft launch
A soft launch is when the product is released to the limited half of your target audience. The main idea behind a soft product launch is to lower the risks associated with product release.
As per lean startup methodology, these first customers are known as early adopters. Typically, startups especially will deal with early adopters so that they can test the concept of their product before they attract funds.
There are a few key points when it comes to a soft launch strategy. They are connected to the initial purpose of creating an MVP:
- Receive feedback from the customers
- Try out different monetization options
- Understanding how willing the customers are to pay
A soft launch is about the market conditions for launching the product. Typically, it refers to a geographical position, very specific audience, or a limited market niche.
An MVP launch is about the product’s first iteration. It incorporates the first version of user experience and specific scope of features.
Hard launch
When launching an MVP product, a hard launch is rarely the best solution. A hard launch is when you release a product that is readymade and you use huge marketing activities to bring in consumers. This kind of product is applicable to mature items.
It is a common framework for an enterprise company, which has already passed through the MVP and soft launch stages. It is suitable if you can successfully anticipate the market reaction, have a strong enough infrastructure, and you have a predictable and large audience. This is why it does not really make sense for launching an MVP product.
Dark launch
Another option that you may want to think about is a dark launch. This is a kind of product launch methodology that focuses on the process of continual delivery. In basic words, this is a regular feature update of your MVP.
It is known as a dark release because you will be releasing a new feature for a small number of users, who do not know that they are testers. This approach gives you the ability to assess the behavior of users in real time. It is the ideal way of deciding whether or not a new update is going to be efficient enough to scale at all users.
Plan your launch early
Aside from the tips that we have mentioned so far, it is also critical to make sure that you plan your launch early.
You are advised to give yourself between eight and 12 weeks in order to plan your product launch. This will make sure that you have sufficient time to find the influencers you require and to plan your strategy and approach.
Locate suitable influencers for your MVP product
You won’t be able to extract the relevant data and information about your product if you do not get it in front of the right people. This is where influencers come in.
It is important to locate influencers that can impact your target market. Introduce them to your service or product that you are getting ready to roll out. Give them the information about it first. You can encourage them to review your product or to share information about it on their social media channels.
Over the past few years, public relations has transformed considerably. Now, we look at numerous sources to get our information out and influencers are one of these sources.
Online influencers have had success in creating audiences that pay attention to them via their videos, social media channels, blog, and so on, and this influence can often be much greater than that of mass media.
Creativity is key
Last but not least, putting your creative cap on is highly recommended when brainstorming the different ways that you can launch your MVP product successfully.
It is imperative to remember that your main objective is to get people’s attention. The press and influencers that you are going to be reaching out to will get a number of different press pitches per day. Therefore, you need to decide what you are going to do differently in order to stand out from the crowd.
It could be an attention-grabbing public service announcement, a meme, or even a funny video! It could be a press kit that you send through the postal service with a fun element that grabs interest. Either way you need to think about what is going to set you apart.
Final words on successfully launching your MVP product
So there you have it: everything you need to know about launching your MVP product successfully. We hope that the ideas and information that we have provided you with in this blog post will help you to launch your MVP product effectively.
From using product launch mail templates to figuring out the style of launch that is most suitable, if you follow the tips and advice that we have provided above, you can make sure your MVP product launch goes as effectively as possible.
Technology Blog
Daily Dose of Tech
Tech World Times
Health Tech Blog
Fintech Blog
Tech World Times
Software Testing Blog
Software Development Blog
Tech World Times
Blockchain Blog
