Accurately measure how well your product is satisfying the needs of the modern market at every stage of your product lifecycle.
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Internet gurus and overnight success stories will have you assume that Product/Market Fit is either elusive or that it “just happens” spontaneously. That’s not quite the case. Every iteration of your product from the start and through its lifecycle requires you to continuously gauge Product/Market Fit and grow accordingly.
When it comes to knowing what to ask in order to determine Product/Market Fit, we’ve got you covered. Our tried-and-true series of 12 in-depth questions will help you get a more accurate assessment of your current Product/Market Fit, as well as the insights needed to take actionable steps towards improvement.
Once you’ve asked the questions, we’ll help you collect and analyze the results on a gorgeous dashboard. The more respondents you get, the deeper the insights you’ll glean.
The concept of Product/Market Fit was developed by a man named Andy Rachleff, better known as the CEO and co-founder of Wealthfront and the co-founder of Benchmark Capital. Many articles around the web incorrectly assume that Marc Andreessen is the one who coined the term Product/Market Fit because he’s outspoken about the concept. However, the man/myth/legend Andreessen is quick to credit Rachleff on his website and in articles that discuss Product/Market fit.
Product/Market Fit (or PM Fit) is the starting point at which your core value proposition — embodied in a product or service — aligns with the core needs/wants of your target audience and is organically growing exponentially via word-of-mouth marketing. If you’d like to drill down into the concept, we highly recommend this article by Buckley Barlow.
Pretty simple, right? Theoretically, yes. This definition can be used very simply as a yes/no determination of whether you’ve achieved Product/Market Fit. However, the real world isn’t that straightforward. There is a lot that goes into finding out how close you are to achieving Product/Market Fit. Changes could affect your existing Product/Market Fit, so to account for nuances in your iterations, here’s how we define the term with a measurement caveat:
The starting point at which your core value proposition — embodied in a product or service — aligns with the core needs/wants of your target audience and is organically growing exponentially via word-of-mouth marketing.
The fact is, Product/Market Fit is not as straightforward and simple as a yes or no answer. Looking through a binary lens can easily lead to false positives and misinterpreted results. This survey is designed to help product leaders define and measure the incremental failures and successes achieved along a product’s lifecycle by pinpointing specific inflection points which, when navigated appropriately, will lead to exponential growth.
Product/Market Fit Surveys are one of the most insightful ways in which you can gauge the fit between what you're building and what the market wants/needs. This Free Product/Market Fit Survey tool is proprietary, not only in the number of questions being asked, but in the sequence by which they are collected. We've used this proprietary model/formula to build highly successful products/businesses over a 20 year span. We've also used this model/formula to help numerous companies, large and small, identify the degree to which a product meets market demand.
Here are some of the types of data included:
Net Promoter Score (NPS)
A Net Promoter Score (NPS) determines the likelihood your customer will recommend your products to someone else. This score is given on a scale of 1 to 10 and can help you forecast your customer’s loyalty to your brand. The higher the score, the higher the likelihood your word-of-mouth marketing strategy will be strong. However, this metric alone isn’t that great at predicting behavior since there is often a discrepancy between what people say they will do and what they actually do.
The qualitative insights baked into this Product/Market Fit survey tool enables product owners to understand and explain the results they’re seeing in quantitative metrics. By gathering text answers, you’ll get critical insights into what your audience is actually thinking, saying, and feeling as they engage with your brand.
Power User Curve
There’s so much magic behind understanding your power user behavior and using that to predict future sales. With our Power User Curve or Retention Curve Analysis, you’ll be able to compare what users are saying with what they’re actually doing to gain deeper insights and fuel your decision making.
We designed this free Product/Market Fit tool to empower anyone to gauge the level of interest a market has in a product. You can use this completely free tool to compare what customers are thinking, feeling, and saying about your product against what they’re actually doing with it.
That last part is important. Accurately determining what a customer is doing with your product is critical to gaining a deeper understanding of their driving motivations and the reasons behind their behavior. Knowing that can help guide your future product iterations and growth marketing strategies.
We’ve designed this survey tool to be a simple process for creating, sharing, and analyzing how close you are to achieving traction toward the never-ending journey of Product/Market Fit.