"Pmarchive - The only thing that matters: Four Questions Towards Understanding User Adoption of Your Product"

"Pmarchive - The only thing that matters: Four Questions Towards Understanding User Adoption of Your Product"

When it comes to startups, there are three key factors that determine their success: team, product, and market. While there may be differing opinions on which of these factors is the most important, it is clear that they all play a crucial role in achieving product/market fit.

The caliber of a startup team is vital to its success. This includes the CEO, senior staff, engineers, and other key personnel. In a great market, upgrading the team becomes remarkably easy as the opportunity at hand attracts top talent. However, even the best team cannot compensate for a lack of market.

Speaking of markets, they are the lifeblood of a startup. A great market is one that has a large number of potential customers and a high growth rate. In such a market, the product is pulled out of the startup by the demand of the customers. Conversely, a terrible market can render even the best product and team irrelevant.

So, how does a startup ensure that it achieves product/market fit? One approach is to focus on user adoption and understand the reasons behind it. By asking four important questions, startups can gain insights into what drives users to try their product, what falls short of expectations, why users give the product another chance, and what ultimately gets them to become active users.

To find answers to these questions, startups should look for bouncebacks. Bouncebacks are users who initially tried the product, didn't find it useful, but later decided to give it another shot and became hooked. By analyzing the patterns in these stories, startups can identify the factors that led to user conversion and sustained usage.

Once these factors are identified, startups should revamp their messaging and user experience to align with what resonates with users. By focusing on the messages that brought users back and got them engaged, startups can improve their product's appeal. Additionally, updating the product and onboarding process to simplify the actions that users took the second time can lead to higher activation rates.

A real-life example of the power of revamping messaging and onboarding can be seen in the case of Twitter. Initially, Twitter's onboarding process focused on tweeting and broadcasting. However, after analyzing user bouncebacks, they realized that finding and following the right people was what brought users back and kept them engaged. As a result, they rebuilt their onboarding process to prioritize this aspect, leading to significant increases in user activation.

In conclusion, achieving product/market fit is the ultimate goal for startups. While team and product are important, it is the market that ultimately determines success. By understanding user adoption and making necessary adjustments to messaging and user experience, startups can increase their chances of reaching product/market fit. To summarize, here are three actionable pieces of advice for startups:

• 1. Focus on building a strong team that is suitable for the opportunity at hand. In a great market, attracting top talent becomes easier.

• 2. Analyze user bouncebacks to understand what drives user adoption and sustained usage. Revamp messaging and user experience to align with these factors.

• 3. Continuously iterate and improve the product and onboarding process based on user feedback. Simplify actions that lead to user engagement and activation.

Remember, the only thing that matters is getting to product/market fit.