Thinking about the main takeaways from my Module 2 journey with Squared Online, I’d say Malcolm Bell’s talk on the beginnings of Zagorra is a great example of the importance of MVPs (minimum value propositions) in product success.
AN MVP ZAGORRA DID NOT HAVE TO SWEAT FOR.
As a new business in the (online) marketplace of sportswear, Zagorra – now an established player in the sportswear world – needed to talk about the real* benefits it delivered for customers in order to stay afloat and grow. Luckily, selling sports pants fabricated out of a material that allowed women to sweat more during workouts and therefore lose more weight was a good-enough, palpable benefit.
It provided not only a good reason of conversation with a customer base in the making, but also a good reason for customers to feedback on the product, talk about and share the information about it on Social Media, and propagate it further.
With the number of start-up businesses being set up on the increase, Zagorra offers a successful example of the importance of an MVP truly unique in the marketplace and perhaps a sanity check through which MVPs should be rethought or articulated in the first place.
AN MVP THAT MAKES CUSTOMERS WANT TO TALK ABOUT THE PRODUCT.
Every brand in the world has by now set up a presence on Social Media and is working hard on engaging with its customers and growing a healthy customer base. What I found inspiring about the story of Zagorra was that customers did a lot of that engaging and growing work on behalf of the brand. And selling the product through Social Media flourished as a result.
AN MVP THAT IS CONSOLIDATED WITH CUSTOMERS’ HELP.
Another big takeaway from the presentation was the openness with which the founders of Zagorra embraced customers’ feedback in shaping their product and improving it. Businesses have traditionally been quite selfish and closed in terms of how they go about developing their products, value propositions, etc. While you could argue that Zagorra needed to do that to grow in its initial stages, I think this collaborative way of product development is actually a step ahead and the way to go for brands.
*real benefit = genuine, ideally quantifiable benefit for customers vs. imagined, fabricated marketing gibberish-type of benefit.