Product/market fit is “the degree to which your product satisfies a strong market demand.” Simply speaking, you’ve achieved product/market fit if you identified a good market and came up with a product or service that the customers want to buy – and keep buying.
A product/market fit survey is a tool that lets you determine your product/market fit metric.
The most popular framework for discovering your product/market fit was developed by Sean Ellis. To follow it, ask your users one simple question:
“How would you feel if you could no longer use [our product]?”
Provide the respondents with three answer options: “very disappointed,” “somehow disappointed,” and “not disappointed.”
Once you get your responses, measure the percentage of users that answered with “very disappointed.” If it’s over 40%, congratulations – you have achieved the product/market fit.
Building on Sean Ellis’ question, Superhuman’s CEO, Rahul Vohra, developed a four-step process of measuring and optimizing product/market fit – make sure to check it out. Of course, it also starts with a survey!
Monitoring your product/market fit metric with the help of surveys will let you optimize your offering, continuously grow, and make sure your company has a bright future in its niche.
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