The Benefits of Using a Product Market Fit canvas
Putting together a go-to-market strategy is tough time-consuming stuff! So, here's a quick article on the benefits of a 'product-market fit canvas' as part of your prep, and how it can help you achieve greater outreach success.
The 'Product Market Fit Canvas' is a tool that can help you assess whether your product has the right fit for your target market. It can also be used to evaluate whether your product is ready for market and what type of marketing and sales strategy will be most effective. In this example, we’re considering an outbound sales strategy.
Seven key component criteria
There’s no hard rule here - you can adapt to your requirements, but here are seven key components you might want to include in your canvas:
Who are you targeting? Sectors/markets/companies
Who are you targeting? Personas/ Titles
Problem: What problem does your product solve?
Solution: How does your product solve the problem?
Value proposition: What value do you offer to your target market?
Outcome: What specific outcomes can your customer expect
Proof - how you can provide your solution is authentic and true?
#Tip: I know this is hard work and it's tempting to go with what you assume to be true. However, if you #invest the time, you will have a better chance of achieving success.
The Product Market Fit Canvas is a great way to evaluate whether your product has the right fit for your target market. It can also help you determine what type of marketing or sales strategy will be most effective. By considering the seven key components listed above, you can create a well-rounded view of your product and its potential success in the market.
Keep in mind that there is no hard rule - you can adapt this tool to meet your own specific needs. If you’re looking for an outbound sales strategy, make sure to include the problem, solution, target market, value proposition, and proof criteria in your canvas. Are you ready to put your product out there? Let us know how we can help!