The minimum viable product (MVP) is a powerful concept that allows you to test your ideas. It is not to be confused with the minimal marketable product (MMP), the product with the smallest feature set that still addresses the user needs and creates the right user experience. The MVP helps you acquire the relevant knowledge and address key risks; the MMP reduces time-to-market and enables you to launch your product faster. This post discusses both concepts, and it shows how you can use the minimum viable product to create a minimal marketable one.
Lifetime Customer Value or LTV is a crucial concept in analytics, a metric that simply express what the customer is worth (value), from the time she signs up, throughout her lifetime of interactions with your app, in the future. Through a general formula of value of same x number of repeated transactions x projected length … Continue reading Understanding Lifetime Customer Value (or LTV)
An excellent article by Steven Jacobs of StreetFight on the 3 Trends Marketers Need to Know About Location-based Advertising. Location-based advertising has exploded in recent years as brick-and-mortar brands shift digital and traditional budgets to mobile. The result has fueled the growth of one of the quickest moving sectors in an already chaotic ad tech industry where tactics, … Continue reading 3 Trends Marketers Need to Know About Location-based Advertising |
The Ornicept Market Size Assessment Tool, or OMSAT for short, is a simply excel spreadsheet, but has the power to provide insight for entrepreneurs and investors to access statistics from the U.S bureau of Labor Statistics, to This tool was graciously released under the Creative Commons (CC) license, to help startups have access to information only larger … Continue reading Assess your market size with OMSAT, for Free
In following suit with the other Lean books in the series, Lean Customer Developmentby Cindy Alvarez gives companies a tangible and pragmatic approach to develop and validate product ideas through iterative and targeted customer development research. The premise of this book lies in providing a fast and flexible research methodology to understanding one's customers, their behaviours, and most … Continue reading Review of Lean Customer Development