Good question, reading a lot about discussions across different platforms.
but reviews and feedback that are not scripted. If they have suggestions and bad comments that you can change
Competitors insights
If you can sustain the customer journey
Use Cases and proper demo (short, clear and direct)
“The customers are buying the product just as fast as you can make it — or usage is growing just as fast as you can add more servers.”
https://a16z.com/2017/02/18/12-t... ✌️
@ferhan_gul Thanks for sharing. I've read this before and it still keeps me thinking 'is it really possible? how many products had this trend at the beginning?' I've heard some did but haven't seen any in real life example.. if someone has good samples, please share with me.
@imjohnkoo In general, if your customers successfully complete the onboarding process of the product, we can say that the product-market fit of the product is mature. In fact, we can see this in most PMF mature startups. Of course, there are many factors that affect the success metric of PMF.
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Product Market Fit is about understanding 3 parameters in your offer:
- The killer feature: which feature/service brings value to your users
- Ideal Customer Profile (ICP): who is you ideal customer profile
- Distribution channel: which channel is the best for distributing your feature to your customer.
===> setting up your business model and your pricing will be a direct consequence of understanding these 3 parameters.
Maybe an unpopular opinion, but I find that many makers/founders see product-market fit as binary (you either have it or you don't) while in reality, it's rather dynamic. Markets are constantly changing, and products (competitors) are constantly evolving — this means that p/m fit at best is something you can accomplish for a limited time.
Venture-backed early stage founders are especially obsessed over p/m fit because it's a box we need to tick to be able to raise more capital. In those situations, investors have pretty clear benchmarks and frameworks to define it. But when you're creating something truly new, or building a product in a nascent market, it's really up to you to define it.
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Product-market fit is a challenging concept to measure, but the most effective way is to look at whether the product adds value to its users and solves problems they are experiencing. Achieving this requires conducting customer research to figure out whether customers will be satisfied with your offering and bring them competitive advantages. The key is achieving a level of customer satisfaction that leads to user loyalty, word-of-mouth marketing, repeat purchases, and an increase in customer lifetime value. Ultimately, product-market fit is about understanding clearly what you are selling and if it actually satisfies what’s important for your users — then you have found the secret sauce!
Wrote a whole thread about how we learned we have PMF here: https://www.linkedin.com/feed/up...
Here are the first 3 signs we found:
1. Selling like crazy with limited reach.
2. Close to zero refunds
3. Working with large companies early on.
I go a bit more in-depth on each one in the thread.
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