your Product Market Fit ROADMAP in 6 Parts
We're in the business of creating products that our customers love, can't live without -- and are willing to pay for them. That's product market fit. But how to we actually get there? How do we find and serve our best customers and identify where our product needs to be, to do that?
Finally, there's an executable product market fit strategy that's tailored to your customers, to help your company grow.
For the past 10 years, I've helped companies of all shapes, sizes and industries answer these questions.
Regardless of where you are in the product development journey, here's an executable strategy to help you understand how your customers are using your product, to see what's working and what needs to improve:
Create the right product for your customers
Please see blog post for tips: Dear Advisor: I have a startup idea, now what?
Understand how your customers will be using your product/platform/hardware to solve their pain points
Map out your customer journeys, as shown in Phil Libin's talk.
If you have a 2-sided marketplace or HaaS, you have two sets of customers: buyers and sellers/hardware; I recommend tracking the journeys of each.
Identify what data you need to capture the journey(s)
Please see blog post for 5 aspects of your business to track today
Make sure your MVP is converting prospects into early adopters
Please see blog post for tips: Dear Advisor: My customer demos are not converting
Use data to:
Find out how your customers are using your product and identify who your current best customers are, based on Step 2 (above)
See where the business can improve: OMTM and other metrics you should be tracking in your business
Iterate on your product based on your customers' activity, to help you create products that customers care about, to help your company grow.
Talk defining product market fit and systematizing advice on how to iterate on product market fit based on customer engagement.
Are you ready to improve your product -- and need an expert to walk you through these steps for your customers? Schedule your complimentary, 30-minute, NDA-free strategy session to see if there's a fit.