Conversion Rate Optimisation is not a strategy for getting to Product-Market Fit, or actually testing your strategy.

We have been supporting corporate ventures rapidly develop a path to Product-Market Fit. The key? A real-time and data-driven approach to Product Market Fit Testing and Finding. It’s key in our approach to reliable growth: solving the 3 Gaps most common gaps: The Strategy Gap, The Execution Gap and the Growth Gap.

Watch our workshop for the Strategy Implementation Institute: The Frameworks we leverage to overcome the 3 Gaps.

Conversion rate optimization (CRO) may be a critical tool in full-funnel marketing, but it's important to understand that it is not a strategy for getting to product-market fit or choosing between paths to product-market fit (PMF). CRO is only ideal for improving business and site performance and to key business metrics, but it can only succeed when leadership has clarity on the positioning and roadmaps that get you to PMF. CRO should be used in conjunction with other strategies for achieving your long-term goals.

Our Causality businesses have brought together a range of services to help the C-Suite find a path to product-market fit, to more quickly and reliably drive growth and help you understand what you should be doing before you embark on CRO, if your aim is to get to product-market fit.

Understanding Product-Market Fit Testing with Causality

Product-market fit is the intersection between what your target audience wants and what your product or service provides. It's the sweet spot where your product or service satisfies the needs and desires of your target audience and sets you apart from your competitors. Achieving product-market fit is crucial for the success of your business, as it sets the foundation for your future growth and profitability.

Perhaps most critically, Corporate & Business strategy level positioning is what guides teams and effective execution.

Perhaps most critically, Corporate & Business strategy level positioning guides teams and execution. It is a dependency and key enabler of the level of success in achieving business metrics and KPI’s.

That is why we direct our Product Market Fit Testing & Finding approach towards de-risking the path to Growth and finding Product-Market Fit.

CRO agencies vs. Product-Market Fit testing with Causality.

Product-market fit testing and finding requires a more comprehensive approach that includes understanding your target audience, their needs and desires, and the unique value proposition of your product or service. CRO on its own cannot help you get to product-market fit if your product or service does not meet the needs and desires of your target audience.

CRO on its own cannot help you get to product-market fit if your product or service does not meet the needs and desires of your target audience.

While CRO can play a role in improving the performance of your website, it is not a strategy for getting to product-market fit.

CRO is a tactical approach to improving the performance of your website and increasing conversions. It involves using data and user research to understand why visitors are not converting and making changes to your website to improve the user experience. The goal of a CRO agency is to increase the number of visitors who take a desired action on your website, such as making a purchase or signing up for a newsletter.

With product-market fit finding and testing, we test your strategy to better find repeatable user growth and monetization from better user retention over time.

With product-market fit finding and testing, we test your strategy, to better find repeatable user growth and monetization from better user retention over time.

Why Traditional Strategies for Achieving Product-Market Fit are not Truly Evidence-based, Quantitative and not sufficiently Reliable for Guiding Data-Driven Decision Making.

Traditional Strategies for achieving Product-Market Fit are not truly evidence-based, or quantitative; and so are not sufficiently reliable enough to guide data-driven decision making. Critically, there are not real-time not executed at statistical scale.

“Consumers don’t think how they feel. They don’t say what they think and they don’t do what they say.” — David Ogilvy

While customer survey data is a valuable tool for strategy planning, it also presents reliability challenges such as response bias and small sample sizes. To overcome these challenges, we designed Product-Market Fit Testing & finding to be based on:

1. Actual behaviour observation of customer preferences in their actual buying environment, in the context of their usual alternatives to increase reliability and actionability of customer insights. (Contrast this with the artificial structure of a survey, separated from your competitors and alternatives).
2. Statistically Valid, Hypothesis-based Testing, for clarity on what to do next.
3. Determining their important and unmet needs: The insight to drive your product differentiation, improve customer relevance and improve your potential for sustained competitive advantage
4. Deliver signals of product-market fit and potential payback periods to shorten your path to product-market fit.

Data-driven Decision Making: Clarity on what to do next.

We do our testing online, at scale and without overly depending on traditional surveys (in which participants are potentially influenced by factors such as social desirability, recall accuracy, or question interpretation).

Studies suggest significant customers are often skeptical that their feedback is used to improve products and services. Limited company resources often lead to small sample sizes leading to misleading confidence intervals from low power of analysis.

Causality's approach instead brings in millions of data points, rapidly and with incredible precision.

To truly drive strategy, it is important to leverage a best-practice approach for a more complete and accurate view of customer sentiment and needs.

Positioning and strategy based on a testing of customer journeys and unmet needs can lead to an authentically customer-centric business.

Unlocking Iterative, low-cost experimentation and testing

Achieving product-market fit requires a strategic approach. This involves testing and iterating on your product or service to continually refining your value proposition.

Our approach allows this statistically valid testing of customer response even before you launch, for detailed product strategy or Go-To-Market pre-mortems that de-risk your growth and new venture building.

Statistically Valid Experimentation of Strategy

For our clients, we

1. Conduct A/B and Split Testing tests to see what resonates with your target audience. Continuously refining your product or service is crucial for achieving product-market fit and staying ahead of the competition.
2. Aim to find an Ideal Launch Segment and Value Proposition for them to rapidly monetize, and then expand to find new customer segments to power further growth
3. Refine Your Value Proposition: Your value proposition is the unique combination of features, benefits, and customer experience that sets your product or service apart from your competition. Bringing this data to the C-Suite, (possible even pre launch or pre go-to-market) is a powerful competitive advantage and enables true data-driven decision-making in the C-Suite.

Refining your value proposition at the strategy level is crucial for achieving product-market fit and standing out in your market.

The Importance of Continuously Refining Your Strategy

Achieving product-market fit is a continuous process that requires ongoing effort and refinement.

The depth and breadth of your level of Product-Market Fit can slip! Your target audience, market, and competition are continually evolving, and your product or service must evolve with them. Continuously refining your strategy and approach to product-market fit is crucial for staying ahead of the competition and ensuring the long-term success of your business.

Your target audience, market, and competition are continually evolving, and your product or service must evolve with them.