The primary reason for startups’ failures is that there is no significant market need for their product or service. The marketing term that reflects this concern is known as product-market fit (PMF).
Achieving product-market fit is crucial in a digital product development process and the Holy Grail of product management and marketing. SaaS companies that are most likely to succeed:
- have identified a widespread set of customers to focus on over a long time
- are solving a burning problem for those customers
- are continuously working on adding real value for them
This post offers tips on how to achieve and measure PMF for safe scaling-up and stable SaaS business growth.