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2. Product-Market Fit
During this stage you validate the assumptions underlying your value proposition, and discover what customers really care about. This is a long and iterative process.
Product-market fit happens when you have evidence that your product is creating value for customers and getting traction in the market.
Metrics to look at include: user growth, retention, engagement, and monetization.
Check these ideas for detailed metrics:
https://dsta.sh/xwX2D2TsH3t817yKA8
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Fit Stages
A successful value proposition requires fit between what the company offers and what customers want.
Fit happens in three stages:
- On paper: You identify customer jobs, pains, and gains that you can address with your value proposition.
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1. Problem-Solution Fit
At this stage you identify jobs, pains and gains that are relevant to customers, and you design value propositions that you believe can address them.
You prototype multiple value propositions to find the one which produces the best fit. However, the...
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3. Business Model Fit
Every company needs a sound business model. You need to pair the value proposition with a business model that creates value for your company.
During this stage there's a lot of back and forth between designing the value proposition and the business model.
Fit happens ...
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📖 Value Proposition Design
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Rules For Great Metrics
- Use retention as a way to assess your market-product fit, as it tells you how valuable the customers find your product after they stop using it.
- Understand the steps your customers have to take to get to your product, and if you can eliminate extra steps.
- Focus on key data...
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