How do you define success for an MVP and how do you move forward?

How do you define success for an MVP and how do you move forward? 

By: Abu Dhabi SME Hub
Design, Analytics, Product management

Once the MVP is launched, you need to collect initial feedback from the ‘early adopters’ as they test the product concept.

How to collect feedback from your “early adopters”?

1- Receive the customer’s feedback: Collecting the customer’s views and opinions helps you to improve your product’s usability and user journey. 

2- Understand the customer’s willingness to pay: If you observe that some users are choosing the payment option on your landing page, this means that some people are willing to pay for your product.

3- Test the monetization options: Discover what makes your product sustainable and profitable, as well as how much it would cost to do so. 

 

What are the different methods used to measure success?

1- Word of Mouth

2- Engagement

3- Sign-up

4- Better Client Appraisals based on feedback

5- Percentage of active users

6- Client Acquisition cost (CAC)

7- Number of paying users

8- Client Lifetime Value (CLV)

9- Churn Rate

 

Watch the video to look deeper into the different strategies to measure your MVP’s success. 

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