Ideas are the core of any marketing campaign. However, their true value is realized only when they translate into tangible results. Charging high fees for concepts that haven’t been validated can be risky for both agencies and their clients, leading to misaligned expectations and potentially affecting the relationship if the idea doesn’t deliver as expected.
The Minimum Viable Product (MVP) Approach
An alternative approach is implementing MVPs. An MVP is a simplified version of a product or campaign launched to assess its acceptance before making a significant investment. This method allows agencies and clients to:
- Validate Hypotheses: Test if the idea resonates with the target audience.
- Gather Feedback: Collect opinions and real data to adjust the strategy.
- Minimize Risks: Reduce the possibility of failed investments by identifying potential obstacles early on.
Gary Vaynerchuk, a renowned digital marketing expert, emphasizes the importance of creating multiple pieces of content daily to test various ideas and determine which generate the most engagement and resonate with the audience. This approach allows for quickly identifying effective strategies and adjusting those that need improvement.
Benefits of Developing MVPs Collaboratively
Collaborating in the creation of MVPs strengthens the agency-client relationship and ensures both are aligned in objectives and expectations. This collaborative approach offers multiple advantages:
- Transparency: Both parties clearly understand the process and decisions made.
- Flexibility: Allows for quick adaptation to market changes or consumer behavior.
- Cost Efficiency: Resources are invested more effectively, focusing on strategies thathave demonstrated potential.
Oso Trava, entrepreneur and podcaster, emphasizes the importance of validating ideas in the market before making significant investments. In his podcast “Cracks,” he highlights that agencies shouldn’t charge exorbitant fees for untested ideas but should collaborate with clients to develop MVPs (Minimum Viable Products) that provide real data and allow strategies to be adjusted based on the results obtained.
Success Stories with the MVP Approach
Renowned companies have adopted the MVP approach with positive results. For example, Amazon and Dropbox started with basic versions of their services to assess market response before expanding. This method allowed them to adjust their offerings based on actual user feedback, optimizing resources and minimizing risks.
Share Your Opinion!
At Digitalli Agency, we firmly believe in collaboration and practical validation of ideas before making significant investments. What do you think? Do you believe agencies should charge for untested ideas, or is it more effective to develop MVPs in conjunction with the client? Leave us your comment and share your experiences!