Learn the definition of product market fit, and why it's so important in product marketing.
- I attend a lot of marketing conferences.…And I spend a good amount of my time…browsing the exhibitor hall.…It's an ideal place to see how a product is positioned.…As an attendee, I'll assume…I'm within the ideal target market…for many of the products on display.…And so I'll walk the hall and look at all the messaging.…Now companies have such a small space…to announce their value proposition…so it really helps me identify the core…of what they think matters.…Unfortunately, more often then not,…the companies I talk to have this false belief…that they have achieved product-market fit.…
And we define product-market fit…as having developed a product that satisfies the market.…It may not even be profitable, but the consumer wants it.…Product-market fit is about finding those customers…who are desperate for your product.…You don't achieve this fit, you'll never unlock growth.…Now people work so hard to build something…and they want product-market fit so badly,…that they ignore anything that suggests otherwise.…Truth is, it's okay if you don't quite…
- Identify the phase when it would be best to spend the most money on marketing.
- Recall the question you must continually consider in the development phase.
- Recognize why it might be a good strategy for a company to do a refresh on a product.
- Recognize when tertiary competitors can pose a risk to your market share.
- Explain where to place a product’s value proposition in a team aligning document.