When you start out, the first thing you want to know is whether your product has a market...or doesn't. Unfortunately, you can't figure that out with just one number or statistic. In this 30 min. workshop, Côme Courteault, growth hacker at TheFamily, will tell you how to measure the product/market fit and give you some tools to get there as quickly and efficiently as possible. Côme Courteault (@c2prods) is Growth Hacker at TheFamily. He helps many of our startups build sustainable growth practices.

1. HOW TO GET YOUR PRODUCT / MARKET FIT
CÔME COURTEAULT, GROWTH HACKER @ THEFAMILY

2. WHAT IS A PRODUCT /
MARKET FIT ?
When your product meets a demand.

3. KNOW YOUR MARKET
You have to be clear about who is
your niche.
Demographic or intent-based?

4. YOU CAN’T FAKE IT
Do not delude yourself! If you have to spend
more (time or money) than what you earn,
it’s not a product market fit.

5. 3 CHARACTERISTICS
OF PMF
1. Understanding
2. Buying
3. Sharing

6. UNDERSTANDING
Does your target understands? A PMF
is always target-relative!

8. BUYING
Measure $$, not leads! Only a
transaction* is worth something.
* For free products:
transaction = active users

9. REFERRAL
This is where you get liquidity: it makes
your acquisition even more efficient!

10. SUCCESS IS OBVIOUS
If you ask about your PMF, chances are
you don’t have one!
Always aim for 100% conversion rate ;-)

11. PMF CHANGES
YOUR LIFE
Enter the first world problems!

12. PMF CHANGES YOUR
GROWTH STRATEGY
Your activation, retention and referral
become crucial.
Your acquisition strategy changes: what
is your customer lifetime value? What is
your cost of acquisition?

13. PIVOT
If you don’t have a PMF,
build another product!

15. effort
PS: YOU CAN’T
EDUCATE A MARKET
You conquer a market, you don’t
educate a market!
Don’t waste your time ;-)

16. IT CAN TAKE TIME
AirBnB tested many different targets
and many different messages to get
where they are!

17. TIPS TO GET YOUR
PRODUCT / MARKET FIT

18. TEST A PRODUCT,
NOT A MARKET
The “build it and they will come” strategy doesn’t
work if you don’t know who “hey are!
Better cut the loss soon and try something else!

19. CHOOSE SOMETHING
YOU LOVE
You have to believe in your product but
keep an analytic mind for your metrics

20. YOU DON’T NEED A
PRODUCT
Build a landing page!
Use a tool like kickofflabs.com with
built-in viral loops!

21. DON’T MICRO-OPTIMIZE!
Launch fast, get a result quickly!

22. RUN AN AD TEST
Product * Target = landing page
For every 1,000 visitors, what is
the conversion rate?
Choose your platform: Facebook
(behavioural) or Google (intent-based)

23. FREE ACQUISITION
Niche communities:
Product Hunt, Hacker News, etc.
Listen to feedback online
(comments, tweets, etc.)

24. TRACTION VS. GROWTH
http://www.coelevate.com/essays/traction-vs-growth

25. LOOKING FOR A PMF
(#) Visitors
(%)
Conversion
rate
($) Cost per
conversion
Idea 1
Idea 2
Idea 3
Idea 4

26. TRACKING: UTMS
https://support.google.com/analytics/answer/1033867

27. TRACKING: GOOGLE ANALYTICS

28. TRACKING: GOOGLE ANALYTICS

29. TRACKING: GOOGLE ANALYTICS

30. TRACKING: GOOGLE ANALYTICS

31. QUALITATIVE DATA
Use hotjar.com to track how your
visitors behave on your website.
Monitor heatmaps, screen
recordings, etc.

32. TRACTION PHASE

33. THEN, TRANSITION TO GROWTH
http://www.coelevate.com/essays/traction-vs-growth

34. BE RADICAL!

35. SEE YOU SOON!
LOVE.
THEFAMILY.CO