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Sean Ellis says in Hacking Growth about the Product / Market Fit Survey:

“One caveat: the Must-Have Survey isn’t recommended much beyond the stage of determining whether you’ve achieved core product value. For one thing, once your growth has taken off, it’s not a good idea to even suggest to your customer base that the product might be discontinued by asking them how they’d feel if it were no longer available. Can you imagine the panic if Facebook sent its users a survey suggesting it might go away?”

I work with a b2b wholesaling / manufacturing company that has been in business for 40+ years with millions in revenue. While the company has obviously grown, I’m not actually positive all this growth has been from a secure product / market fit (as measured by a 40% Very Disappointed rate).

The company is in a commodity market to start, with most competitors offering the same or very similar services. It appears that most of the growth has been driven by building relationships, established industry presence (40+ years in business), and other more ‘traditional’ methods than a rigorous product / market fit.

So the question is, how should I conduct a product / market fit survey without scaring people that the company could go out of business? Would love your feedback.

  • AS

    Arsalan Sajid

    about 1 month ago #

    To measure the product-market fit, you can try to find out how much of your sales are generated through referrals. If it's more than 15-20% then it's a good sign.

    • NW

      Nicholas Wright

      about 1 month ago #

      Interesting, I'll have to look at our data on this.

      Do you think there would be a connection between referral data and an NPS Score?

      Personally, I've always used the NPS score as a simple measure of the overall satisfaction rate with the company. But I never assumed the NPS score = product-market fit (as you can still be satisfied with someone's service, but not need their product).

      But since the NPS question is literally asking if they would refer people to your company I wonder how much it would tie in with the referral data.

  • EC

    ekin can

    about 1 month ago #

    what is nps?