Starting a SaaS business needs proper understanding, a strategic approach, and a lot of patience. It seems a daunting task for many businesses, but with the right strategy, it becomes easy to build a solid product that not only acquires your targeted users but also scales your business. The process involves multiple things, thus it may take time.
But now with the advancement in technologies, it is possible to create a toned-down and smaller version of your SaaS product and check the response from the target market. Well, this can be achieved by hiring a SaaS MVP development company, where MVP is abbreviated for a minimum viable product.
So, if you want to know more about SaaS MVP, why it is beneficial for your business, and how to build a successful SaaS MVP product to kickstart your SaaS business, then keep reading this post for detailed answers.
First of all, it is important to know what a SaaS MVP is.
Well, SaaS MVP is a small version of your SaaS product that allows you to test the core features and functionalities at minimum cost and effort. It is primarily used to ensure that the features are usable for your targeted users by validating the idea and getting feedback from those targeted users.
Why do you need a SaaS MVP?
A SaaS MVP development can offer a lot of benefits to your business which are as follows-
- It validates your idea behind the SaaS product.
- It is quite fast and cost-effective to develop.
- It helps to raise funds for your startup through potential investors.
- It can easily generate initial revenue.
- It helps to get feedback from your targeted users.
What are the Most Common Types of SaaS MVP?
There are different approaches used for SaaS MVP development, you can choose the one depending on your goals and availability of resources. The most common types of SaaS MVP are listed below-
- The Concierge MVP
- The Wizard of Oz MVP
- The Piecemeal MVP
- The Landing Page SaaS MVP
- The Single-Feature MVP
The Concierge MVP:
The type of SaaS MVP is operated manually. The concierge MVP is developed where the company offers the services by relying on the automated system. This also helps to schedule the appointments manually for the customers, but the drawback is it requires hiring some templates, which would increase the operation cost.
The Wizard of Oz MVP:
This type of SaaS product can work as a fully automated system for delivering services to their customers. With the Wizard of Oz MVP approach, you can develop an automated system for users to select their convenient time and data for the appointment.
The Piecemeal MVP:
With the piecemeal MVP type for SaaS MVP development, you can provide new SaaS-based services to your customers while using the existing tools and platforms. However, the drawback of this type of SaaS MVP development is that you need to be dependent on the costing solutions. If one of those tools & platforms goes away, it could affect your SaaS product adversely.
The Landing Page SaaS MVP:
This type of SaaS MVP is a single page that is used to validate your idea about the product and get feedback from the users. The page explains your SaaS product. Also, it contains a sign-up form for users who are interested in the service. To opt for a landing page SaaS MVP, the following things are needed-
- A Domain Name
- A Landing Page Builder
- Copywriting Skills.
The Single-Feature MVP:
As the name implies, it allows you to build your SaaS product with just one feature to provide it to your target market. Along with this, it helps you to validate your idea more efficiently and quickly without investing a lot of time and money in developing unnecessary features. With the Single-feature MVP approach, it is easy to just post-scheduling features, and then you can add more features as per the user feedback.
The Final Thought
Opting for SaaS MVP development is one of the smart ways to validate your SaaS product idea and attract users early to adapt your product. Once they start trying your product, you can get their insights and perform changes for improvement that meet all their expectations in this highly competitive market.
As mentioned above, SaaS MVP development is the strategic process to refine your offering before launch. When you identify your core value, understand your user demands, consider key features, optimize user experience, plan for iteration, and ensure security & scalability, you can rest assured about the successful SaaS MVP development and launch along with its sustainable growth.
