Glossary
Minimum Viable Product (MVP)
A Minimum Viable Product (MVP) is a term most often used in product development in business. It refers to the least a particular product needs to do in order to be usable by its intended user.
The purpose of the MVP is to create a usable product and get feedback on it immediately, before additional features are added. This can reduce development time by identifying flaws in a product early in the development process.
This can also relate to web-based applications, which often have non-core features that are not needed for the product to work well for a majority of its users.
Related Terms
Glossary
Digital Marketing
Refers to any form of communication that uses the internet or other forms of digital communication. This can include numerous marketing channels across a broad array of platforms, software tools, and personal devices.
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Glossary
Pages Per Session
The number of web pages a user visits when they come to your website. Tracking average pages per session can be a valuable way of seeing how good your site is at retaining and engaging traffic to it.
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Glossary
Lifetime Value (LTV)
Lifetime Value (LTV) is a calculation of how much a new customer will be worth to your company over their entire lifetime.
This calculation can alter other calculations, such as the acceptable cost of acquiring a new customer. The initial value of that customer may be too low to justify a particular cost, but their LTV could justify the advertising cost to acquire them.
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