Hi hunters!
We’ve built this toolkit simply because we want to help startups measure product-market fit better and for free!
Long story short. We run Salesfit.io, which helps companies use marketing algorithms without any data-science or coding skills.
Thanks to that, we’re also talking with many early-stage startups, which are trying to figure out the product-market fit. Some of them are trying to use the famous “Superhuman method” based on customers’ disappointment. Nevertheless, it often didn’t work very well for them. So we asked why and discovered 2 common problems.
❌ You need to convince at least the vast majority of your customers to answer you in a short period of time to get the right results and make it work.
❌ Disappointment is a feeling, an emotion which can be easily influenced by other things such as a customer’s current mood. Both positive and negative - we don’t know what’s worse.
That means…
⚠️You’ll get results that can be influenced by factors that have nothing to do with the quality of your product or service.
⚠️You spend lot of time on collecting data and convincing users to answer you. So you can end up annoying them with your own follow ups and influence the answers by yourself.
So we were thinking how to measure product-market fit better, and then we realized there’s already a proven method. It’s just not used for this use-case. It’s called RFM segmentation. RFM stands for Recency, Frequency, Monetary and is frequently used in remarketing activities because of the same benefits we looked for.
✅ It doesn’t require any additional customer activity because they give you those data while using your product or service.
✅ That means you always have full and actual data because you collect those data naturally.
✅ It’s based on behavior, so it eliminates customers’ subjective opinions.
It segments your customers based on their behavior. As a startup, all you need to do is to focus on the segment that used your product most recently, most frequently, and paid the most. And since we have this algorithm in Salesfit, we’ve adjusted it to this use-case and built an easy-to-use toolkit so you can use it as fast as possible. And for free.
The toolkit comes with:
1. A step-by-step manual to guide you through the setup.
2. Example data to give you proper inspiration on how the data should look like
3. Ready-to-use algorithm. All you need is to connect the data. The algorithm is built on Orange - an open source software with a graphical user interface, so you don’t have to write a single line of code.
4. A dashboard template for Google Data Studio, which helps you use the results in a few clicks.
