You take the wind out of your sails if you don’t identify the right product-market fit. To determine how your product satisfies the user's and the market's needs, you must figure out the product-market fit.
This Qatalyst Product Market Fit Survey Template will help you identify and validate your product market fit. Here is what you will gain from using this template-
- Actionable user insights that signal that you have reached your product market fit
- Understand user interaction and behavior with your product to gauge if your product is dispensable to them
- Get bias-free responses to analyze the “why” behind every user response
- Improve the scalability of your product framework to incorporate global feedback at 6x the speed
When Should You Use This Product Market Fit Template?
Identifying the product-market fit is key to building a successful product. Here are a few instances where conducting a product market fit survey makes sense-
1) To Determine who your Target Market is
A product-market fit survey is an excellent idea if you're trying to figure out who you should target. Be it an existing or new product, you can determine the right market and users by using this template.
2) To define the Minimum Viable Product
A minimum viable product is a version of your product which has few features to be used by early stage users. With this template, you have the opportunity to collect feedback for upcoming product development, which aids in the improvement of product features and ultimately saves time for product designers and developers.
3) To build a User-Centric Product
If you want to develop a product that creates an impact, you need to conduct a product market fit analysis. You can identify which features and pricing models will help you succeed with this template.
What Is In This Product Market Fit Template?
You can easily conduct a Product Market Fit Survey using this Template on Qatalyst. This template has 5 blocks with sample survey questions for a quick and seamless survey experience.
How To Use This Product Market Fit Template?
Step 1 - Log in to your Workspace to access the Qatalyst Dashboard
Step 2- Click the “Start From Templates” section on the Qatalyst Dashboard
Step 3- Out of the options listed on the left, click on “Feedback Survey” and then “Validate product-market fit”.
Step 4- Click “Use this template” and it will redirect you to the Qatalyst survey builder.
Step 5- You can go through each block and customize the survey questions based on your study’s objectives.
This template can be completely customized. You can alter the welcome and thank you pages, the design, logic, properties and the sample survey questions.
You can also add more relevant blocks of your choice.
Why Should You Use This Product Market Fit Template?
Imagine this, you finally come up with a great product after countless hours of toil and brainstorming. You have gone through every detail and you are sure your product is going to be really well received by your users. You ensure you market the product well, go through every last minute bug fixes and you are confident your product will be a game-changer.
But after launch, your product idea falls flat. You start questioning what could have gone wrong, but you don’t get any actionable insights. At this moment, you need to conduct a product market fit survey. Not just to get out of this situation, but as a precautionary measure to ensure you don’t go through this situation.
This product market fit template is a quick and easy way to get answers to all your questions. Also, did we mention the trial is free for 14 days? Well, it is!
Best Practices for Performing Product Market Fit Surveys
Here are a few quick tips, you can implement while performing product market fit surveys-
- Try to get an in-depth understanding of your user’s behavior, preferences, opinions etc.
- Try to identify user pain-points and optimize your product accordingly.
- Keep a track of your adoption rates to ensure your product is usable by your users.
- Keep looking out for negative reviews as they can guide you by providing powerful insights about your product.
- Establish a clear and strong positioning for your product.
- Don’t copy paste every feature that you think is working for your competitor. Every product is unique and it is essential you highlight the USPs to your target audience.
- Make market research a continuous process to ensure you identify expansion opportunities, right distribution channels etc.
- Keep innovating to avoid stagnation and your users switching over to your competitors.
Frequently Asked Questions (FAQs)
What is Product Market Fit Analysis?
How well a product matches the market and users' needs is known as product-market fit. This statistic examines how consumers use a product in relation to the general market demand.