Measuring & Understanding Product/Market Fit Qualitatively
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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
- 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 🚀