How to measure product-market fit for your digital product
Step 1: Determine your target customer
Identify your target customer using market segmentation and personas to ensure your product meets their needs. Start with a high-level hypothesis and refine it as you learn and iterate.
Step 2: Identify underserved customer needs
Understand your target customers’ needs to identify good market opportunities. Address underserved needs rather than those already met by existing solutions. Remember that customers will judge your product in comparison to the alternatives.
Step 3: Define your value proposition
Define your value proposition by focusing on how your product will meet customer needs better than the alternatives. Differentiate your product from competitors and determine unique features to delight customers. This is your product strategy.
Step 4: Specify your MVP feature set
Specify the functionality of your minimum viable product (MVP) to validate you’re heading in the right direction. The MVP approach builds only what’s necessary to create enough value for the target customer. Iterate until the MVP is viable based on customer feedback.
Step 5: Create your MVP prototype
To test MVP hypotheses with customers, create a prototype using UX design instead of building the final product. Prototypes vary in fidelity and interactivity, from low-fidelity hand sketches to high-fidelity mockups, and can be made clickable/tappable using prototyping tools like InVision. Prototypes provide valuable feedback from customers before building the final product.
Step 6: Test your MVP with customers
To test your MVP prototype, ensure you have your target market participants by using a screener. Ask open-ended questions and avoid leading or closed questions. Conduct user tests in batches of five to eight people to detect issues and identify patterns in feedback.
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