If you join our monthly TMAP (This month at Product) for Agents, which is open to all Coldwell Banker NRT agents, you will definitely hear us talking about how some of our products are MVP. But what exactly does this mean?
MVP, or minimum viable product, is a product with just enough features to satisfy early customers and to provide feedback for future product development.
Why would we develop something with limited features? The simple answer is that we can get a product in front of you faster and can begin to work with you to determine exactly what you do and don’t like, what resonates and what you find valuable to build your business.
Although we have done our initial research, defined the problem and a proposed solution, we still need to validate. It is more efficient to validate and measure success in smaller chunks where we can iterate and develop based on your feedback along the way.
It also allows us to take a more agile, product and customer-centric approach when creating and updating your products. Instead of building in a vacuum with little feedback, over a much longer period of time (usually 18-24 months), at the end of which we may receive a lukewarm product reception or even the possibility that we missed the mark completely.
We are so thrilled with your participation in our user research and testing sessions even though you are extremely busy. We hope to see this continue so we can build products with you, not for you.
