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Measuring & Understanding Product/Market Fit Qualitatively

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Hiten Shah
Hiten Shah

A guide on how to use qualitative tactics to learn about whether a product has product/market fit or not.

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Measuring & Understanding Product/Market Fit Qualitatively Hiten Shah hnshah@gmail.com
“ I ask existing users of a product how they would feel if they could no longer use the product. SEAN ELLIS
Sean Ellis’ product/market fit survey survey.io
Use SurveyMonkey so you can analyze results better surveymonkey.com
Example: We proved that Google Analytics has product/market fit
“If you’re above 40% of the people saying they’d be very disappointed, I tend to say you’ve found product/market fit, and if you’re less than that, you haven’t. SEAN ELLIS
The core product/market fit question ★ Segment the rest of the responses with this question ★ Open-ended responses help you understand why ★ Can be asked independently or as part of other survey questions
Do you have product/market fit? ★ Nobody really cares about your product! ★ Find insights from very disappointed & somewhat disappointed responses ★ Go back to the drawing board to try something different
Do you have product/market fit? ★ Almost there… ★ Figure out the difference in very disappointed & somewhat disappointed responses ★ Product and / or customer segment tweaks can get you there
What are alternative solutions to the problem you solve? ★ Learn what people consider as alternatives ★ Helps define your market and opportunity ★ Responses will validate / invalidate your own ideas
What’s the benefit of your solution? ★ Discover the core use case(s) for your product ★ Helps inform your value proposition for positioning ★ Turn into multiple choice question for future surveying
Do people tell others about your solution? ★ Learn what words people use to describe your product to others ★ Helps assess word of mouth for your product ★ Identify invite and sharing opportunities
Who is your solution most valuable to? ★ Learn more about the type of people that will value your product ★ Helps figure out market segmentation ★ The target customer might not be who you are thinking
How do you improve your solution? ★ Find out what people want improved ★ Helps with determining future product direction / roadmap ★ Discover things you weren’t thinking of improving
Learn from 731 product/market fit survey responses about Slack: bit.ly/slackpmfit
There are even more ways to assess product/market fit qualitatively…
Net Promoter Score (NPS) delighted.com
Why do people sign up? qualaroo.com
What do they expect from your solution? intercom.io
Why did they buy? qualaroo.com
Why did they visit certain pages? qualaroo.com
Why did they decide to check it out? qualaroo.com
What problems are they trying to solve? qualaroo.com
What other solutions did they consider? qualaroo.com
What frustrates them? intercom.io
Why are they canceling? lesschurn.io
Why are they canceling? surveymonkey.com
Why are they canceling? surveymonkey.com
“ You’ll create the best product if you know more about customers than your competitors and you act on that knowledge. HITEN SHAH
Sign up by email and get awesome SaaS content every Monday morning! hiten.com 🚀

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Measuring & Understanding Product/Market Fit Qualitatively

  • 1. Measuring & Understanding Product/Market Fit Qualitatively Hiten Shah hnshah@gmail.com
  • 2. “ I ask existing users of a product how they would feel if they could no longer use the product. SEAN ELLIS
  • 3. Sean Ellis’ product/market fit survey survey.io
  • 4. Use SurveyMonkey so you can analyze results better surveymonkey.com
  • 5. Example: We proved that Google Analytics has product/market fit
  • 6. “If you’re above 40% of the people saying they’d be very disappointed, I tend to say you’ve found product/market fit, and if you’re less than that, you haven’t. SEAN ELLIS
  • 7. The core product/market fit question ★ Segment the rest of the responses with this question ★ Open-ended responses help you understand why ★ Can be asked independently or as part of other survey questions
  • 8. Do you have product/market fit? ★ Nobody really cares about your product! ★ Find insights from very disappointed & somewhat disappointed responses ★ Go back to the drawing board to try something different
  • 9. Do you have product/market fit? ★ Almost there… ★ Figure out the difference in very disappointed & somewhat disappointed responses ★ Product and / or customer segment tweaks can get you there
  • 10. What are alternative solutions to the problem you solve? ★ Learn what people consider as alternatives ★ Helps define your market and opportunity ★ Responses will validate / invalidate your own ideas
  • 11. What’s the benefit of your solution? ★ Discover the core use case(s) for your product ★ Helps inform your value proposition for positioning ★ Turn into multiple choice question for future surveying
  • 12. Do people tell others about your solution? ★ Learn what words people use to describe your product to others ★ Helps assess word of mouth for your product ★ Identify invite and sharing opportunities
  • 13. Who is your solution most valuable to? ★ Learn more about the type of people that will value your product ★ Helps figure out market segmentation ★ The target customer might not be who you are thinking
  • 14. How do you improve your solution? ★ Find out what people want improved ★ Helps with determining future product direction / roadmap ★ Discover things you weren’t thinking of improving
  • 15. Learn from 731 product/market fit survey responses about Slack: bit.ly/slackpmfit
  • 16. There are even more ways to assess product/market fit qualitatively…
  • 17. Net Promoter Score (NPS) delighted.com
  • 18. Why do people sign up? qualaroo.com
  • 19. What do they expect from your solution? intercom.io
  • 20. Why did they buy? qualaroo.com
  • 21. Why did they visit certain pages? qualaroo.com
  • 22. Why did they decide to check it out? qualaroo.com
  • 23. What problems are they trying to solve? qualaroo.com
  • 24. What other solutions did they consider? qualaroo.com
  • 26. Why are they canceling? lesschurn.io
  • 27. Why are they canceling? surveymonkey.com
  • 28. Why are they canceling? surveymonkey.com
  • 29. “ You’ll create the best product if you know more about customers than your competitors and you act on that knowledge. HITEN SHAH
  • 30. Sign up by email and get awesome SaaS content every Monday morning! hiten.com 🚀