Measuring Product-market fit – Qualitative method

Qualitative methods for measuring Product-market fit don’t just give you numbers – they help you understand the real benefits your product offers to users. These insights reveal how your product makes users feel and which features keep them coming back. By focusing on qualitative feedback, you can uncover those “can’t-live-without” aspects that drive loyalty.

The Sean Ellis Survey

One of the simplest ways to gauge Product-market fit is by surveying your users. Sean Ellis’ PMF survey is a quick way to see how much customers value your product. Here’s how it works.

Here’s the exact 4-question script Sean Ellis recommends (just swap in your product name):

1. How would you feel if you could no longer use Holycode?                        

• Responses: Very disappointed, Somewhat disappointed, Not disappointed at all.

2. What is the main benefit you receive from Holycode?
3. What type of person would most benefit from Holycode?
4. How can we improve Holycode?

Product-market fit score: If over 40% respond “very disappointed” that they can’t use your product, you’re likely hitting PMF. Clearing this bar isn’t easy, but hitting it shows your product’s unique value to customers.

Why this method of measuring Product-market fit works:  

The survey shows you both how much users value your product and what unique benefits they see in it. That insight is gold.

For example, if a lot of users say they can’t live without a certain feature, you know it’s a core part of your product’s value. On the other hand, if they mention improvements or needs that aren’t yet met, that’s valuable feedback for your next round of development. The survey also helps you see which users already love your product and which might need a little extra attention or new features to become loyal fans.

A word of caution: 

Don’t spend too much time on the segment “not disappointed at all”. They are simply not your market. Trying to win them over just wastes your resources. Instead focus on “somewhat disappointed” customers! With the right tweaks, many of them can become your strongest advocates.

Key takeaways

The Sean Ellis survey is the fastest, cheapest way to test PMF. It tells you if people care, and just as importantly, why they care. That’s the insight you need to decide whether to double down, adjust, or pivot.

Stay tuned for Part 2, where we’ll dive into retention rates and cohort analysis – quantitative methods that complete the Product-Market Fit picture!

If you’re ready to dig deeper into your PMF and need guidance, we’re here for you! 

Laurent Decrue
Co-Founder & Co-CEO / CFO at Holycode

Laurent is a serial entrepreneur, investor, and board member with over 20 years of experience, building and scaling companies like Deindeal, MOVU, Bexio, and Holycode. He’s passionate about helping startups nail product-market fit and build a culture that can scale all the way to IPO. When he’s not busy with startups, he’s a dedicated dad and loves doing sports.