Market Fit
Delivered December 2, 2019. Contributor: Alexis Z.
Goals
In order to identify when to release a vacation planning app, provide case studies on products without market fit and what they did to revise their product. Ideally, the case studies would be on tech products, especially apps.
Early Findings
Groove
- Groove is a B2B company that supplies help desk software.
- CEO Alex Turnbull has spoken about the company's struggle to find product market fit in the early phases of their launch.
- After the company launched but realized their churn rate was increasing, Turnbull reached out to every single customer for feedback.
- The customers identified pain points in the on boarding process, bugs customers were having with the app, new features customers wanted, and more.
- The company was able to repair customer relations, launch bug fixes, improve their copy and marketing, and focus in on feature's customers really desired.
- In doing so, the company began to see results in just a few months, with customers being more positive about the product. Eventually, the company reached their target net promoter score of over 40%, which signaled they had found product market fit.
Proposed next steps:
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