Discover how to choose the right MVP for your startup. Learn about 12 types of MVP, their benefits, and development options to ensure your product’s success.
With so many types of minimum viable products (MVPs) out there, choosing the right one for your product idea can be tricky.
In this article, we’ll explain what MVPs are, break down the different types of MVP available, and guide product managers in making the best choice for their needs.
Let's begin!
What Is A Minimum Viable Product (MVP)?
A Minimum Viable Product (MVP) is a basic version of a product with just enough features to be usable by early adopters who can then provide feedback for future product development.
Instead of spending a lot of time and money building the perfect product, you create a simpler version with just enough features to satisfy early users. This approach helps in understanding what works and what needs improvement, ultimately guiding the development of a more refined product.
Why Do Startup Companies Need an MVP?
Starting a new business is exciting but also comes with risks. This is where a minimum viable product (MVP) becomes a fair strategy to opt for. Here’s why startup companies need an MVP:
1. “Test the Water”
An MVP allows startups to test the market with just a basic version of their product. This helps you understand if the product works or doesn’t, confirm the hypotheses, and gather early user feedback to see if people are interested in what you’re offering.
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Building a full-scale product requires a lot of time and money. With an MVP, startups can avoid investing too much upfront.
Since MVP development only focuses on the core features, it reduces development costs and speeds up the time-to-market. If the MVP is successful, you can gradually add more features in the next phase.
3. Reduce Risk
Every new product comes with risks, like whether it will be well-received by the market.
An MVP helps you manage these risks by testing your idea on a smaller scale first. If things don’t go as planned, you can pivot or make necessary adjustments without facing huge losses.
4. Attract Investors
Investors are more likely to support a startup that has a proven concept. An MVP demonstrates that there is a market for the product and that the startup team can execute their idea. Showing early traction with an MVP can make it easier to secure funding from investors.
5. Build a User Base Early
Releasing an MVP helps startups build a user base early on. These early adopters can become loyal customers and advocates for the product. They can also provide valuable word-of-mouth marketing, helping to spread the word about the new product.
6. Faster Iteration
With an MVP, you can quickly iterate based on user feedback. Instead of waiting to launch a perfect product, you can release updates and improvements regularly. This agile approach allows you to respond to market changes and user needs more effectively.
What Are The 2 Main Types of MVPs?
When developing a Minimum Viable Product (MVP), fidelity refers to how closely the product resembles the planned final and full version.
It’s important to understand that there are two main types: low-fidelity MVPs and high-fidelity MVPs. Let's break down these two types in detail.
1. Low-fidelity MVPs
Low-fidelity MVPs are simple, basic versions of your product. They are quick to create and cost-effective, allowing you to test your core idea with minimal investment.
Purpose
The primary goal of a low-fidelity MVP is to validate your concept with real users without spending too much time or money. It helps you understand whether there is a genuine interest in your product idea before you dive into detailed development.
Examples
The Fake Door: Making a phony "Buy Now" button or sign-up form on your website to see if customers are interested in your product before it exists.
Landing Pages: A simple web page describing your product and inviting users to sign up or show interest.
Setbacks
Limited Functionality: Because they are basic, low-fidelity MVPs may not showcase all the potential of your product.
Less Professional: They can appear unpolished, which might affect initial user perception.
2. High-fidelity MVPs
High-fidelity MVPs are more polished and closer to the final product. They include more features and functionality, providing a better user experience.
Purpose
The goal of a high-fidelity MVP is to test user experience and functionality in a more realistic environment. It helps you understand how users interact with your product and what features they value the most.
Examples
Interactive Prototypes: These are digital versions of your product that users can interact with.
Beta Versions: A beta version includes most core features and allows users to provide feedback before the final launch.
Single-Feature Products: Focus on developing one key feature fully and testing it with users.
Setbacks
Time-Consuming: Developing a high-fidelity MVP takes more time compared to low-fidelity versions.
Higher Costs: More resources are required, making it a more expensive option.
Less Flexibility: Harder to make significant changes based on feedback due to the level of development involved.
What Are The Low-fidelity Types of MVP?
1. Landing Page MVPs
A landing page is a simple webpage that describes your product and invites visitors to sign up or show interest. It helps gauge market demand and collect contact information from potential customers.
Metrics: Page visits, sign-ups, conversion rate, bounce rate to understand user interest.
Tools: Unbounce, Wix, or WordPress make it easy to create effective landing pages.
Setup Time: 1-2 days
Est. Cost: $50-$200 (domain, hosting, and basic design)
2. Email MVP
An email MVP involves sending targeted emails to potential users explaining your product and offering a call to action, such as signing up for a newsletter or pre-ordering the product.
Metrics: Open rates, click-through rates, responses, unsubscribe rates.
Tools: Email campaigns can be easily managed using platforms like Mailchimp or Constant Contact.
Setup Time: 1-3 days
Est. Cost: $20-$100 (email marketing service)
3. The Fake Door
The Fake Door MVP involves creating a fake "Buy Now" button, a sign-up form, or a menu item on your website to see if users are interested in your product before it is actually released.
When users click the button, they will be informed the product is not yet available, often asking them to leave their contact information for updates. This approach helps you validate demand without building the product first.
Metrics: Click-through rate, sign-ups, user comments, exit rate
Setup Time: 1 day
Est. Cost: $50-$200 (domain, hosting, basic design)
4. MVP Design Prototype
MVP design prototypes can take many forms, such as sketches, wireframes, or interactive mockups. These prototypes allow you to visualize the broader user experience (UX) and test user interactions.
Metrics: User interaction, usability feedback, design flaws, task completion rates
Tools: Adobe XD, Figma, Sketch
Setup Time: 1-2 weeks
Est. Cost: $500-$2,000 (design tools, designer fees)
5. Demo Video MVP
A demo video is a short video that explains your product’s concept, features, and benefits. This type of MVP is effective for communicating your vision and attracting interest.
The video can be shared on social media, websites, and email campaigns to gauge user reactions and gather feedback.
Metrics: Video views, engagement rate, social shares, user feedback
Tools: Animoto, Powtoon, Adobe Premiere Pro
Setup Time: 1-2 weeks
Est. Cost: $300-$1,000 (production and editing)
6. Pre-Order/Crowdfunding MVP
A crowdfunding MVP involves presenting your product idea on platforms like Kickstarter or Indiegogo.
You create a compelling campaign that explains your product and offers rewards for different levels of support. This approach not only tests market demand but also helps raise funds for development.
Metrics: Funding amount, number of backers, campaign shares, comments and feedback
Tools: Kickstarter, Indiegogo, GoFundMe
Setup Time: 2-4 weeks
Est. Cost: $500-$3,000 (campaign creation, marketing, video production)
What Are The High-fidelity Types of MVP?
7. Single Feature MVP
A Single Feature MVP focuses on developing and testing one core feature of the product. This allows you to ensure that the main functionality is well-received and effective before adding more features.
Setup Time: 1-2 weeks
Cost: $1,000-$5,000
Metrics to Track: User engagement, feature usage, user feedback
Tools: Custom development, analytics tools
8. Minimum Lovable Product
A Minimum Lovable Product (MLP) goes beyond basic functionality to include elements that delight users, making them love the product and advocate for it.
Setup Time: 2-4 weeks
Cost: $3,000-$10,000
Metrics to Track: User satisfaction, Net Promoter Score (NPS), customer retention
Tools: UX/UI design tools, user testing platforms
9. Super High-Fidelity Mockup or Prototype
These are detailed, interactive prototypes that closely resemble the final product, demonstrating a well-developed concept to stakeholders. They allow users to interact with the product as they would with the final version.
Setup Time: 2-4 weeks
Cost: $2,000-$7,000
Metrics to Track: User interaction, usability feedback, design flaws
Tools: Adobe XD, Figma, InVision
10. Concierge MVP
In a Concierge MVP, you manually provide the service to each customer to validate the concept and gather detailed feedback without building automated systems.
For example, the scenario is Personalized Meal Delivery Service, where you manually take orders and deliver meals based on customer preferences to gather feedback and validate the service before automating the process.
Setup Time: 1-2 weeks
Cost: $500-$3,000
Metrics to Track: User feedback, service satisfaction, repeat usage
Tools: CRM tools, spreadsheets
11. Wizard of Oz MVP
In a Wizard of Oz MVP, users interact with the product as if it were fully functional, but the operations are manually handled behind the scenes by your team. So… it feels automated to use, but it’s actually man-powered.
Setup Time: 1-3 weeks
Cost: $1,000-$4,000
Metrics to Track: User interaction, operational efficiency, user feedback
Tools: Backend tools, communication tools
12. Piecemeal MVP
A Piecemeal MVP uses existing tools and services to create a functional version of your product, minimizing development time and costs.
It goes something like this: You create an online store using existing tools and services like Shopify for the website, PayPal for payments, and Google Sheets for inventory management.
Setup Time: 1-2 weeks
Cost: $500-$2,000
Metrics to Track: User engagement, system performance, user feedback
Tools: Zapier, IFTTT, existing SaaS solutions
Which Types of MVP Is Best For Your Startup?
Choosing the right MVP type for your business depends on your goals, resources, and target audience. If you aim to validate market demand quickly and cheaply, use Landing Pages or Email MVPs. These methods help gauge interest and gather initial feedback without significant investment.
For testing user experience and gathering detailed feedback, MVP Design Prototypes or High-fidelity Mockups are ideal. Tools like Figma or Adobe XD can help you create interactive prototypes, providing valuable insights into usability and user interactions.
For complex products requiring deep user feedback, consider Concierge MVPs or Wizard of Oz MVPs. These involve providing services manually to validate the concept and make necessary adjustments based on direct user interactions. Though labor-intensive, they offer flexibility and detailed user insights.
The Key Takeaways
MVPs are crucial for startups, offering ways to test market demand, save resources, reduce risks, and gather user feedback. Therefore, choosing the right types of MVP can make or break your product development.
Understanding the different types of MVPs—low-fidelity and high-fidelity—is the very pinpoint to select the one that best fits your needs. It will be the foundation on validating your business idea with an MVP mobile app.
However, securing resources requires convincing proof of your concept's value. This is where a Proof of Concept (POC) comes in to play. Schedule a meeting with Golden Owl Solutions today for a full-suite POC service tailored to your startup's needs and nail your pitching!
