After working on a product for over two years without launching it, Rahul Vohra knew that he had to do something different. In this ProductTank San Francisco talk, Rahul, CEO and Founder of Superhuman, shares with us a framework for determining product/market fit and optimizing until you achieve it.
His key points include:
- Building the fastest email
- Measuring product/market fit
Building the Fastest Email
The goal of Rahul and his team at Superhuman was to create the fastest email and allow users to fly through their inbox. Their team was busy working and coding the product but nothing had been officially released yet. Rahul admits this was due to him not believing that they had product/market fit.
There were a number of definitions he had found that explained how to know when you have achieved product/market fit, including having many customers buying and reporters contacting you for news about the product. Since this wasn’t happening for them he set out to measure and systematically optimize until they had product/market fit.
Measuring Product/Market Fit
When over 40% of users would be very disappointed without your product, then you have product-market fit. The process for the product/market fit engine Rahul devised includes conducting a survey, segmenting the data, analyzing, implementing changes and then tracking. This gives product-market fit a metric as opposed to a feeling. Once it’s clear what percentage of users would be very disappointed if they couldn’t use your product then you can set out to increase that number if it’s less than 40%.
Use segmentation to determine the characteristics of the people who really love your product. The chances are that some of the users you were targeting before aren’t your true customer. Next, determine what it is about your product that users really love. This allows you to focus on the core benefit of the product and can help to turn the crowd that was somewhat disappointed in your product disappearing, into a group that would be very disappointed.
The key takeaways from this talk are that measuring, tracking and optimizing for product/market fit helps you to create the best product for your users. However, remember to focus on what makes your company special and don’t just focus on what your least passionate customers think is missing with your product.