How To Be A Product Market Fit InnovatorSolution-based product development.
Adapting to new ideas has the potential to drive a company’s success. In order to be innovative, it will require a specific mindset and process that will enable the company to be open to new ideas.
As B2B Digital Marketers, what are the innovations your company is engaged in to enhance your products? What steps will be taken to improve the service provided to clients? What adjustments will be made?
This episode features Matt Young discussing how you can improve your product through innovation.
Matt Young is the CEO of UserVoice, the first product feedback and research tool for software companies around the world. Matt started his professional career as a software developer, right when web browsers were released. He developed innovative solutions on the web well before SaaS and Product Management were the ubiquitous terms they are today. Over his career, he has pushed for better ways to build software. And through all the changes in development methodologies, he has put the customer at the center of everything his teams have built. This is what attracted him to UserVoice — an opportunity to make sure that teams building complex software solutions have direct access to the intended users — to make sure that the problems any company or development team is solving are actually worth solving.
Podcast Timestamps/Outline
0:24 – Introduction
1:45 – About Matt Young
2:58 – What do we need to do to stand out from our competitors
5:27 – Why do people do business with other people
6:23 – Achieving market product fit
8:00 – Difference between problems vs. solutions in regards to market product fit
12:51- Difference between customers satisfaction and problems to solve for
13:57 – Common pitfalls in problem identification
15:51 – Art and science of anticipation
23:52 – Understanding problem ecosystem
27:24 – How to understand its boundaries
33:18 – Value is added by solving real problems for people
34:53 – Connect with Matt Young
Memorable Quotes
“People are very afraid of the word research because they think they picture people in white lab coats doing very serious things to move humanity forward.”
“The very common thing that happens is that the world changes and the way they do their jobs change.”
“Your solution for a particular problem that happened yesterday may not be the right solution tomorrow. The problem may change suddenly. The appropriate solution, therefore, needs to change a little bit.”
“Someone’s going to come in with a better mousetrap that raises the bar for the way you solve your own problem, and if you’re not keeping ahead of that, you’re not anticipating where the problem space that you work is going, you’re going to fall behind. Your launch is going to get eaten by a competitor.”
“If you want to stay in business, you have to anticipate where the market is going.”
“Embarrassment is your price of entry to be great at something.”
“The product itself is not enough. The software solution isn’t the end of the story. You need to have the people.”
“We don’t market our tool as a way for you to make more money. We market it as a way to help people solve problems.”
Episode Links and Resources
Matt’s email: [email protected]
Uservoice Website: https://www.uservoice.com/
Digital activity ROI assessment: https://b2bdm.com/digital-activity-roi/
More episodes related to innovation: https://b2bdm.com/product-innovation
