How to build an MVP

Building a SaaS product from scratch is exciting, but the road from concept to reality is filled with challenges. One of the most critical steps in this journey is creating a Minimum Viable Product (MVP). Your MVP is the simplest version of your product that can still deliver value to early adopters. It's the testing ground that will either validate your idea or show you where adjustments are needed.

There are various approaches to building an MVP, but today we’ll explore a unique yet highly effective option: the waitlist-driven MVP. Along with that, we’ll compare other methods and discuss how to choose the right one for your SaaS business.

Understanding MVP and Its Importance for SaaS Development

An MVP is a lean version of your product, built with just enough features to attract early users and test core assumptions. Instead of spending months developing a fully-featured product, an MVP lets you test your idea in the market quickly and with fewer resources.

The key benefits of an MVP for SaaS startups include:

• Validating demand: Get early feedback to see if your product solves a real problem.
• Saving time and money: Develop only the most essential features to reduce costs.
• Reducing risk: Test product-market fit before making large-scale investments.

But how do you decide which MVP approach is right for your SaaS idea?

Choosing the Right MVP Approach

Not all MVPs are created equal, and selecting the right approach depends on several factors:

• Complexity of the product: Does your SaaS require complex features, or can it be simplified?
• Budget: Are you bootstrapping or do you have significant funds to invest?
• Speed to market: How quickly do you need to launch to capture your audience?
• Technical expertise: Do you have in-house developers, or are you relying on external tools?
• Competition: Are you entering a saturated market where speed is critical?

Here are four popular MVP options, each with its pros and cons:

No-Code/Low-Code Tools

No-code or low-code platforms, like Bubble or Webflow, allow you to quickly build and launch an MVP without hiring a development team. These platforms are ideal if you need to get something live quickly but don’t have the technical expertise for custom development.

• Pros: Fast, cost-effective, and easy to use.
• Cons: Limited customization and scalability. Eventually, you may outgrow the platform.

Off-the-Shelf SaaS Solutions

Using off-the-shelf tools, such as Zapier or Shopify, to build your MVP can also be a fast and cost-efficient option. This approach works well when you can use existing solutions to piece together your product.

• Pros: Minimal setup time and lower costs.
• Cons: You’re restricted to the features and capabilities of the chosen platform.

Custom Development

A custom-built MVP offers complete control and flexibility. You can create exactly what you need from the ground up, but it comes at a cost.

• Pros: Full customization and scalability.
• Cons: Requires more time, money, and technical expertise.

Waitlist-Driven MVP

A waitlist-driven MVP focuses on gathering early interest from potential users before the product is fully developed. With a simple landing page and sign-up form, you can validate demand, build anticipation, and generate buzz—all without building a single feature.

• Pros: Fast to set up, cost-effective, and a great way to validate demand before investing in development.
• Cons: Risk of losing momentum if the waitlist period drags on too long.

Now, let’s dive deeper into why waitlists are an exceptional MVP strategy and how you can leverage them to your advantage.

The Waitlist-Driven MVP: A Fast and Viable Option

The beauty of a waitlist-driven MVP is its simplicity. By creating a landing page with a strong value proposition and a sign-up form, you can begin gauging interest in your product almost immediately. It allows you to test the waters without needing to build the actual product first.

Speed and Simplicity

One of the main advantages of a waitlist MVP is that it requires very little upfront investment in terms of both time and money. You can create a compelling landing page using tools like Unbounce or Leadpages in just a few hours.

All you need is:

• A clear, concise description of your product’s value.
• A sign-up form asking for the user’s email.
• A simple call to action, such as "Join the Waitlist."

Generating Early Interest

Waitlists create a sense of exclusivity and anticipation. By promising early access to your product or beta version, you can attract your target audience and build a community around your product before it even exists.

This can be enhanced with a strategic use of urgency—e.g., limiting spots in the early access group or offering special rewards for the first 100 sign-ups.

Validating Demand with Minimal Investment

A waitlist is a great way to gauge actual demand. You’ll know how many people are interested based on the number of sign-ups, and the feedback from these early adopters will help shape the final product.

If few people sign up, you’ve saved yourself time and money by not rushing into development. If there’s a lot of interest, you can move forward with confidence knowing that you have a ready-made audience.

Benefits and Risks of Using Waitlists for SaaS MVPs

While waitlists can be powerful, they’re not without their risks. Let’s explore both sides:

Benefits

Low-Cost Validation

A waitlist-driven MVP eliminates the need for heavy investment upfront. You don’t need a product to start building an audience.

Building Anticipation

Creating a sense of exclusivity with a waitlist can help you build excitement around your product. Early sign-ups feel like insiders, which can boost engagement.

Gathering Early Feedback

With a waitlist, you can survey early users to learn more about their needs. This information can be invaluable as you start building your product.

Risks

Losing Momentum

If the waitlist period is too long, you risk losing the interest of potential users. Keep subscribers engaged with regular updates, sneak peeks, and exclusive content.

Hype May Fizzle

If your waitlist strategy relies too heavily on hype, there’s a chance that expectations might not match the final product. Be transparent about what your product can deliver.

Competition

If you spend too long gathering a waitlist, competitors might swoop in with a similar solution. Make sure you act quickly once you validate demand.

Effective Strategies for Driving Traffic to Your Waitlist MVP

Driving traffic to your waitlist is critical for gathering enough data and building anticipation. Here are some proven strategies:

Organic Marketing

SEO and Content Marketing

Create high-quality, keyword-optimized blog posts around the problem your SaaS solves. This helps you attract organic traffic and build credibility. For example, if you’re building a project management tool, write posts on “Best Practices for Remote Team Collaboration.”

Social Media Engagement

Use platforms like Twitter, LinkedIn, and Instagram to share updates, teasers, and engage with your audience. Create content that showcases your product’s vision and how it can help solve real-world problems.

Partnerships

Leverage partnerships or influencer marketing to reach a broader audience. For example, if your SaaS targets marketers, partner with industry blogs or influencers who can promote your waitlist.

Paid Traffic

Google and Facebook Ads

Paid ads allow you to drive targeted traffic quickly. You can use Google Ads to target specific keywords or Facebook Ads to reach specific demographics based on their interests. Run A/B tests to optimize your landing page for conversions.

Retargeting Ads

If someone visits your waitlist page but doesn’t sign up, retarget them with ads to re-engage and encourage sign-ups.

Analyzing Waitlist Data for SaaS Product Development

After you’ve built a waitlist, what comes next? The data you gather from your waitlist is gold for your SaaS product development.

Key Metrics to Track

• Sign-up rates: How many visitors convert into sign-ups?
• Referral sources: Where are your users coming from? Organic search, social media, or paid ads?
• User demographics: Who is signing up, and does this align with your target audience?

Using Waitlist Data to Shape Your Product

• Feature prioritization: Use surveys or emails to ask waitlist users what features they’re most excited about. This can help prioritize your development roadmap.
• Segmenting users: Based on demographics or user behavior, segment your waitlist to better target your early adopters with personalized messaging.

Transitioning from Waitlist to Product Launch

Once you’ve validated your SaaS idea through your waitlist, the next step is to transition from collecting sign-ups to launching the product. Here’s how to do it smoothly:

Gradual Rollout

Don’t release your product to everyone at once. Start by inviting small groups of waitlist subscribers to use the product in beta. This allows you to fix bugs and gather feedback before a full-scale launch.

Regular Updates

Keep your waitlist subscribers in the loop. Share updates on the development process, new features, and sneak peeks of the product. This maintains excitement and builds anticipation for the launch.

Conclusion

Building a SaaS MVP is one of the most critical steps in launching a successful product. While there are several approaches—such as no-code tools, off-the-shelf solutions, and custom development—waitlists offer a fast, low-cost way to validate demand and build an audience.

By setting up a simple waitlist and engaging your potential users throughout the process, you can gather the feedback and data needed to shape your product with minimal risk. In the end, the right MVP approach depends on your unique SaaS idea, resources, and timeline, but if speed and market validation are your priorities, a waitlist-driven MVP may be the way to go.