3/30/2023 0 Comments Aha moment marketingIt’s like walking through a mall and not buying anything. If the curve doesn’t flatten at all (yellow curve), the likelihood of your product having market-fit is slim to none. Social networks usually retain 45-65% of their users over 12 months. For some products, it flattens earlier, for others later. It literally tells you what to pay attention to in order to grow your startup.įor a startup with Product-Market Fit, the retention over time curve flattens at some point (blue curve in image). It goes a step further: retention guides you to measure the right numbers. You can ask whether users like your product, but retention is the proof. Retention is one of the strongest indicators of Product-Market Fit. The answer is: without PMF, we’re not getting the data we need to drive sustainable and rapid growth! Product-Market Fit only occurs when a couple of things work right in a product. But why? Can’t we just sprinkle some Growth Marketing magic over a product and market it to the customer? What’s the mechanism behind Product-Market Fit that creates all this growth? If you’ve been only remotely following the startup scene or Growth Marketing community, you should be familiar with the term. Product market-fit is when a product provides such substantial value to a segment of a market that people love it. You guessed right, all these companies had (and have) product-market fit and that’s why they grew so fast. A visibly pumped Travis Kalanick on UBER's launch in Chicago (2011) Within one day Dropbox went from 5,000 to 75,000 signups for the waiting list after launching a beta video. Instagram had 25,000 signups on its first day. One year after launching, UBER’s growth was so strong that it got one new rider for every 7 rides - without spending a single dollar on marketing.
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