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How do I market IT effectively?

How do you best evaluate product-market fit when you are effectively creating the new market?

  • When your product is an innovation such that no current market exists for it, and you have to create the market, how do you effectively prove early product/market fit to satisfy investors and your own intellectual curiosity?

  • Answer:

    When you are innovating into a new market, I think it is important to clarify the market landscape for your investors using 's Petal Diagram (http://steveblank.com/2013/11/08/a-new-way-to-look-at-competitors/). This will allow you to gauge typical product-market fit responses in the adjacent markets from which you will be drawing your customer base. However, I still think it is also good to follow ' rule: "If you find that over 40% of your users are saying that they would be “very disappointed” without your product, there is a great chance you can build sustainable, scalable customer acquisition growth on this “must have” product." If you are attaining this 40% number then you can be reasonably confident that you know not only how to acquire customers in your new market but retain them.

Ryan Smith at Quora Visit the source

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Even in new markets, there are lead users and early adopter customers. Find them. Sell to them.

Sramana Mitra

Whether you have an innovative product or an existing product that could be performing better, there is a new approach that allows you to quantify product-market fit. It's called Quantitative Product-Market Fit. Developed by product management experts Chris Sorensen and Matt Brocchini, QPMF has successfully helped many start-ups develop effective innovation strategies. For example, using their methodology, Matt was able to help take Nimblefish from a $4MM to a $40MM company by identifying a more sustainable market segment. It's a very interesting methodology and framework, which both Product and Marketing teams can take advantage of. Learn more about it here --> http://QPMF.com

Jeff Yoshioka

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