Digital Marketing, Web Development

MVP Projects

An MVP (minimum viable product) is a product that has the basic functionalities of the core business, with the main functions necessary to operate, without all the details of the final product.

An MVP (Minimum Viable Product) is a product with the basic functionalities of the core business, ready to take out to the market. The purpose is that early-adopters could try and test the offer and, based on their experience and feedback, to optimize it. The main goal is to work based on our consumer’s real needs.

For example, on an eCommerce website, the MVP should have the products, allow user registration and purchase. Once this is in operation, we could add special features for product evaluation and sharing products on social media, among other functionalities that could improve the site’s conversion rate and usability.

MVPs’ utility

MVPs allow testing our product to determine the steps in the developing stage. Usually, we lack complete information in a planning stage and could set the wrong priorities or invest in secondary functionalities before needing it. Moreover, it is common in developments, especially for functional websites or applications, to confuse the product’s primary objective. For those cases, MVP enables identifying the user’s main necessities and developing what is needed based on data. This helps minimize the first stage of investment and makes updates more manageable and cheaper to implement.

The key to success? Balance.

The key is finding the right balance between launching the perfect project and deciding to launch a project bound to the knowledge it generates to get to the optimal product. In the second scenario, one must understand mistakes as a means of generating progress.

For TeamRednodo, an MVP is the beginning of a product developed for reaching excellence. It is a product developed throughout a process of continuous innovation that allows differentiation from the competition.

Do you have any questions about this product? Contact us!

Digital Marketing

MARKETING FUNNEL: FROM THE OLD WAY OF DOING MARKETING TO THE NEW ONE

In the past years, the universe of Marketing has been in constant change. The AIDA model (Awareness -Interest – Desire -Action), although still in use, has been adapted to the changes in the marketplace. Especially Digital Marketing.

What is a marketing funnel?

The funnel of marketing describes the experience a customer has with your business. It is a route map from the initial stage when the client hears your offer, to the moment they buy or consume your product or service.

What is the difference between the old funnel and the new one?

The new Digital Marketing Funnel ads precision to the traditional method. It understands the online experience as a non-lineal one and focuses on the behaviors that guide the consumer. It focuses on generating Brand Engagement and consumer education.

It has its roots in the traditional funnel’s four primary stages: attract, nurture, convert and delight; and expand them into ten steps. The first six take place before the conversion, and the last four afterward.

Let’s go through each step:

1. Engagement: This step seeks to achieve “Brand awareness”, that is, to publicize the brand. Nowadays, this is accomplished almost exclusively through social networks. (Facebook, Twitter, Youtube, Instagram, Spotify, Pinterest, LinkedIn, among others). The goal is to reach a large number of people and start attracting potential customers from the masses.

2. Education: The discovery phase that started with engagement continues with educating customers about our brand. It is vital to identify consumers’ problems to provide them solutions.

3. Research: At this point, the client seeks to understand why she should choose a particular company, and therefore they look for information. We should offer them the information they are looking for, without overwhelming them.

4. Evaluation: Now, a solution to the problem must be presented. The consumer at this stage is searching for the product that represents the best solution (better benefits – price difference).

5. Justification: Often, marketers succeed in convincing consumers that their solution is the best one for them, but still don’t make a sale due to consumers’ objections, obstacles, or inertia. The justification stage is about

finding ways to overcome these issues. They need reasons to keep on the buying track.

6. Purchase: This phase is where potential customers become consumers. The key here is to assist your consumer, providing them with all the information needed.

7. Adoption: Post-purchase, the company must deliver all its promises. And we go back to the importance of customer support.

8. Retention: Getting a potential client to become a customer is quite an achievement. However, we must focus on keeping them as satisfied consumers.

9. Expansion: Ideally, customers should be satisfied with their original purchases and become repeat consumers. Marketing campaigns should be built around upselling customers’ higher-end products and cross-selling them complimentary products.

10. Advocacy: Satisfied customers can spread the word to a whole new universe of prospects, including peers, colleagues, family, and friends.

When talking about Marketing Funnel, we do not refer to a rigid model that applies to every case scenario. It is up to marketing teams to understand their industry, products, and target audiences — and then create the digital marketing strategy and funnel that best meets their needs in reaching potential new customers.