A minimum loveable product (MLP) is an initial version of a product with basic functionality a company provides to its target audience. It aims at providing value, understanding customers, and receiving their positive responses. MLP helps collect feedback, determine whether people love a certain product, and take into account their requirements.
In this article, we’ll unveil the importance of MLP and compare MLP with MVP (minimum viable product). We’ll also talk about how to build a minimum loveable product.
Why is MLP important?
By creating test versions of products and offering them to customers, companies can get the insights crucial for further product development. After launching a minimum loveable product, entrepreneurs can understand whether people get the central idea of the product and like it.
Launching the initial version of a product for the first time and presenting it to its target audience helps companies in product development. This allows businesses to avoid developing an ideal product that fails in the short run. This way, business owners can improve their products based on customers’ feedback and create an excellent product people would love.
MLP helps create a unique and innovative product, provide an excellent customer experience, and integrate with other helpful tools. After exploring customer feedback insights, a brand can create a product people like and establish brand awareness. A unique and exciting product will always drive attention and increase a company’s sales volume.
Now that you know the importance of having a minimum lovable product, let’s move to the difference between MLP and MVP.
MLP vs. MVP
Since MLP and MVP are often used interchangeably, there’s a point in discussing the difference between the two terms.
MLP is a test version of a product designed to delight customers and gain their love. It aims at providing solutions to customers and an excellent buying experience.
MVP is a version of a product a company launches for the first time. It has minimal features designed to solve customers’ problems and be viable in the market. It’s also necessary to test the product.
Let’s find out how to create a minimum loveable product to boost your product development process.
How to Build a Minimum Loveable Product
Here are the steps you need to take to develop MLP for your company:
- Pay attention to design. Your main aim as a brand owner is to ensure a seamless user experience, especially when it comes to usability. Your website should be clear-cut, intuitive, credible, accessible, and relevant for users. To make customers love your brand and revisit your website, you need to ensure seamless interaction. You can enhance the user experience by developing responsive design, keeping your site simple and visually appealing, and using white space.
- Create a community. You can create an online presence by building a community on social media. Collaborate with marketers to establish communities on communication channels your target audience uses most often and effectively promote your product. Consider conducting research to identify your customers’ preferable platforms. As a result, you’ll be able to gather loyal customers around your brand.
- Share your story. Customers need to know more about the company they purchase from. That’s why you need to tell your story, share your goals, and manifest your principles.
- Collect valuable customer feedback. Of course, you can’t get customers’ love and trust simply by collecting data. However, listening to your customers and giving them what they need can do the trick. Feedback from consumers is imperative since it can highlight the areas of your product that require improvement. Your clients can tell what they like and don’t like about your product. Use this information to improve your product and give users the solution they need.
- Implement only minimal features. Remember, it’s vital to launch the minimal features and design to save costs. If you spend a lot of money on a fully developed product your target audience doesn’t actually like, you risk paying twice.
Congrats, now you know the importance of MLP, the difference between MLP and MVP, and how to build MLP. Make use of your knowledge to improve your business, and employ SendPulse’s tools to promote your products.
Last Updated: 22.03.2023
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