Reasons To Choose MVP For Online Store
Customers have spoken, and they prefer to shop online. While experts agree that these new shopping habits are here to stay, they likely won’t apply to all sellers universally.
That’s why sellers need a way to do some real-world testing to prove new eCommerce strategies will work for their business.
This is where an MVP comes into the picture. It helps brands visualize how B2B eCommerce benefits their business, employees, and customers. There are many other advantages and reasons to create an eCommerce MVP, including:
Smaller time and money investment for a working product
With an MVP, you can significantly reduce development costs. By focusing on the minimum set of features required for launch, you can avoid spending time and resources on unnecessary features that may not be critical to your product’s success.
Faster time to market
One of the primary reasons to choose a minimum viable project approach for an online store or marketplace is that it allows you to get your product to market much faster. By focusing on the minimum set of features required to launch, you can quickly build and launch your online store, allowing you to start generating revenue and testing your product in the market.
Fewer risks during planning, development, and marketing
By launching with a minimum set of features, you can test your product in the market and validate demand before investing more time and resources. This can help to reduce the risk of investing in a product that may not be successful.
Accurate feedback helps align transformation initiatives to customer needs
The development of an MVP for an eCommerce platform is always about identifying the customer’s wishes and requirements at an early stage and implementing them. By launching with a minimum set of features, you can quickly gather feedback from customers and use it to improve your product over time.
For example, Braskem, one of the largest petrochemical companies in the Americas, built a B2B MVP before committing to the full-scale development of an eCommerce portal. The idea was to prove there’s a demand for digitized purchases and collect customer feedback.
Using an iterative MVP process, the team built clickable wireframes and returned to the customers time and again until they knew they had what the customer would use. Only once they had all the necessary feedback did development start.
This incremental approach also enabled the Braskem team to test for bugs and workflows.
In other words, an MVP allows you to digitize your business on an incremental, step-by-step basis. There’s no need to draw up lofty plans and learn multiple technologies from top to bottom. Instead, you can start with launching an MVP while focusing on and refining what’s critical to your customers and internal teams.
