What Makes A Perfect Product?
What Makes A Perfect Product?
So, guys, I just wanted to take the time to give a few thoughts on some of the questions I’ve received and some of the things I’ve noticed, as usual, in regards to marketing, small business entrepreneurship, and all of that good stuff. One of the things I simply wanted to spend a little time on is the importance of product-market fit (PMF), which I believe is crucial because you may have a wonderful product and not have it fit.
You may have a product that resonates with particular groups of people that you’ve tested. However, when you expand your audience, finding a place where it fits, finding a place where the need is for that product, becomes so important in determining the survival of the product. A great product that matches the wrong audience can lose this momentum and can also defeat the purpose of the product.
What are the reasons for not seeing the expected result?
Sometimes when you have a product and you are marketing it, it’s a great product because you receive a lot of feedback on the onset and where you are marketing it, and you’re not seeing the results that you expected to see. Sometimes the reason is pure, that you are not quite clear on the profile of the person or the customer or organization or group that you created a product for, and that is getting in the way of connecting the product to the right audience.
I believe that there is an audience for every product. And that anything that is produced by any individual group, is a result of the fact that it solves a problem. I believe there is someone out there who can see the value in it and would be interested in acquiring it.
How do you find product-market fit?
If you want to find the person that needs a product that has been created, or that just needs a solution that exists, you have to connect with the right person. You know that product-market fit is so important because if you do not match the product to the right market, you’re going to lose friends. You are going to lose momentum, you’re going to lose resources, and you are going to receive a lot of passive and sometimes discouraging remarks.
So, it’s important to find a market that is right for the product that you created. And that’s the reason why it’s often important to conduct tests. So, how do you find product-market fit? I think it begins with creating the profile of the client or of the person that is going to use the product.
Is that important to understand the profile?
If you can understand the profile of that person and if you can create a clear client profile of the person for whom the product makes the most sense, then the next step is to find where they are. If you can find where they are, where they hang out, and what they do online and offline, and if you can translate the help that you’re able to provide or the value that you can provide for them to take advantage of the solution that you provided, then you can figure out an effective way to get the product in front of them.
As a result, product market fit is critical. A product can be great, but if it’s not in the right market, it will not yield results. So that’s why, there is a reason why in soccer or sports in general, like the NBA and other forms of sports, a player can be great on one team and if he goes to another team, he’ll be rendered completely useless.
