Understanding Product/Market Fit for Email Software

Product/market fit is crucial for startup success, but achieving it for email software can be challenging. The article discusses a systematic approach to measure and optimize product/market fit using customer feedback and metrics.

Traditional definitions of product/market fit are lagging indicators, making it difficult to assess the situation before launch.

The article introduces a leading indicator: asking users "how would you feel if you could no longer use the product?" and measuring the percentage who answer "very disappointed."

Companies with strong traction typically exceed a 40% "very disappointed" benchmark.

Segmenting Users to Find Your Core Audience

Early marketing efforts may attract a diverse user base, but not all will be well-qualified for your email software. The article recommends segmenting users based on their "very disappointed" responses to identify your core audience.

Group users by their responses to the "very disappointed" question.

Analyze the "very disappointed" segment to create a detailed profile of your high-expectation customer (HXC) – the most discerning users who will enjoy your product's greatest benefit.

Focus your efforts on serving this narrowed-down segment better than anyone else.

Analyzing Feedback to Convert Potential Users

To expand the depth of your email product's appeal, analyze feedback from users who would be "somewhat disappointed" without it but cite speed as the main benefit.

Disregard feedback from users who would not be disappointed, as they are unlikely to become advocates.

For "somewhat disappointed" users who value speed, identify the missing features or improvements that hold them back from being enthusiastic advocates.

Common requests may include mobile apps, integrations, attachment handling, calendaring, and search improvements.

Building a Roadmap to Optimize Product/Market Fit

Develop a product roadmap that balances doubling down on what users love and addressing pain points that hold others back.

Devote half your roadmap to enhancing features that "very disappointed" users love, such as speed, keyboard shortcuts, and automation.

The other half should focus on addressing missing features or improvements requested by "somewhat disappointed" users who value your core benefit.

Prioritize initiatives based on a cost-impact analysis, considering the number of requests and your product instincts.

Tracking and Optimizing the Product/Market Fit Score

Continuously measure your product/market fit score by surveying new users and tracking the percentage who would be "very disappointed" without your email software.

Make the product/market fit score your most important metric, visible to the entire team.

Set OKRs (Objectives and Key Results) focused on increasing this percentage over time.

As you grow beyond early adopters, rebuild your roadmap each quarter to maintain a strong product/market fit score.

Key Takeaways for Founders

The article concludes with two key takeaways for founders and investors:

Investors should avoid pushing for premature growth before product/market fit is achieved, as this can lead to disastrous outcomes.

Once a strong product/market fit score is reached, founders should accelerate growth aggressively, as they now have evidence of potential success.