What is product-market fit and how to measure it?

Product-market fit (PMF) is the state when a product satisfies the needs of a specific market so well that demand for it steadily grows without additional marketing efforts. In simpler terms, it is the moment when the product "finds" its audience and begins to be actively used.

PMF can be measured in several ways:

• Qualitative metrics: user feedback, satisfaction level, repeat purchases.
• Quantitative metrics: growth in the number of active users, retention rate, conversion to payment.
• Nir Eyal's method: surveying users on how upset they would be if the product disappeared. If more than 40% say they would be very upset, it indicates PMF.

It is important to constantly gather feedback and analyze user behavior to understand whether PMF has been achieved.