How CX And Responsive Product Development Drive Product-Market Fit

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Haresh Bhungalia News

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Haresh Bhungalia is the CEO of Casepoint, a technology company focused on solving for data and business workflow challenges. Read Haresh Bhungalia's full executive profile here.

It's every company's dream to create a moat around themselves––to build a fortress high up on the hill out of reach from competition and risk. For most, that means identifying a true differentiator that solves a problem ahead of everyone else so there's a runway to go out and capture market share. In other words, the best defense is finding product-market fit .

Early PMF work demands heightened attention to all customer interactions. You must truly listen to customers through market research, procurement, demos and customer success activities. Companies that are serious about finding that elusive fit will pay attention to every minor movement—from how customers interact with the website down to what's in their RFPs.

Greater brand recognition, more demos, quick sales cycles, rising revenues, big-name clients and happy customers are signs that you've found PMF. The indicators that you've fallen out are the inverse of the former. With a solid customer success engine, customers will tell you before it's too late. They'll be empowered to speak up when there's friction between their workflows and your products, and you'll be able to respond quickly.

When it comes to maintaining PMF, your infrastructure must always be positioned toward these new opportunities. It's almost as if 80% of your current infrastructure should be dedicated to your current ICP, while 20% should be for potential new markets.

 

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