A minimum viable product (MVP) isn’t a new concept; however, many business owners often struggle with it. At a base level, a minimum viable product is a version of a product that allows the recipient to collect the maximum amount of validated learning about customers with minimal effort. This validated learning is often in the form of conversions, product sales, or increased service revenue.
If the technical definition of this term seems confusing - that is ok! In this article, we will do our best to break it down into simpler terms that are a little easier to digest. Although, before we can explore the benefits of minimum viable products from a marketing standpoint, let’s clear up some misconceptions about what it is.
How Do Sprints Work in Project Management?
A Sprint is a short, time-sensitive period in which a team works to complete an outlined amount of work. By completing projects this way, the team can ensure that large, complicated projects are completed in installments instead of one mammoth undertaking. This approach ensures that project teams are more flexible and can adapt to change quickly and inexpensively.
At the start of a Sprint, a meeting occurs to plan the scope of the work for the upcoming project phase or “sprint.” These meetings are conducted by the digital marketing expert or software developer and the client they are doing the project for. The product backlog will be reviewed during the session to determine which items will be moved to the Sprint backlog. It is important to note that the client will often need to define what is most important to them at this point.
During the Sprint, the project management team will have a daily meeting that lasts no longer than 15 minutes to discuss what has been completed and what is still required to complete the upcoming Sprint. The main goal of this daily meeting is to allow team members to share what problems they have found with the rest of the team to brainstorm and streamline the development or delivery process. The team will then get back to work fulfilling the Sprint backlog until all items have been completed.
At the end of a Sprint, the team will provide a demo or unveil new functionalities to the client. The client will need to verify that the project requirements have been fulfilled to close out the current Sprint. After each Sprint, the project management team has a retrospective meeting to determine what happened and how things can be improved in the next Sprint. The process repeats itself after new items are added to the next Sprint Backlog.
Ready To Try Something New?
If you are struggling to define your own project sprints, Maennche Marketing Agency has the knowledge and experience needed to help. Once a minimum viable product is determined, we can continue to help you scale it long-term. Take the first step today to learn if our approach is the right fit for your business! Schedule a meeting with us to see how your business could benefit from our expertise.