When you don’t have it, everything feels hard. When you do have it, everything is easy and every move you make feel easy.
Initial Product Market Fit Search:
- Launch - “Launch when your product is better than what’s out there” - Paul Buchheit
Continued Product Market Fit Refinement:
- Identify the metrics that represent the value my users get from my product - Measure the repeat usage of that metrics
- Measuring retention - Returning usage (Day 1, 3, 7, 30 retention).
- NPS (Should be > 50). (Net Promoter Score, ie customer survey). See wiki/Net_Promoter - A positive NPS (i.e., one that is higher than zero) is generally deemed good, a NPS of +50 is generally deemed excellent, and anything over +70 is exceptional. The Net Promoter Score is calculated based on responses to a single question: How likely is it that you would recommend our company/product/service to a friend or colleague?
- Paying customer renewal rates. Renewal rate is the defined as the percentage of eligible subscriptions who renew, which is cohort-based.