Failure sucks. That's why we want to know what other people did wrong– to avoid the same demise.
CBInsights analyzed 101 failed startups. They found the #1 reason for failure was "No-market need".
Wrong product? Perhaps. But the world is filled with examples where a market bestseller is not the best product. (Snuggies are ridiculous, convince me I’m wrong)
When it comes to Product-Market Fit, we tend to over index product and overlook market. People don't buy things when they don't know about or want them.
Message-Market Fit precedes Product-Market Fit
Before your market tries your product, they need to desire what it offers. Find Message-Market Fit, and Product-Market Fit is close behind.
Message-Market Fit is determined by how appealing the messaging sounds to the customer, according to Dan Olsen, author of The Lean Product Playbook.
We appeal to customers by speaking into their world, not ours. By aligning our message with what matters to them.
Match your message to the market's awareness
What's the most important question to ask when you’re crafting a message? According to legendary copywriter Eugene Schwartz and Agora’s Michael Masterson it’s this: “What does my market already know?”
The market falls somewhere between “I love you” and “never heard of that before”. Here are the 5 levels of market awareness:
- Unaware. They don't realize they have a problem
- Problem-aware. They know they have a problem, but don't know solutions exist for it
- Solution-aware. They know what outcome they want, but don't know you can provide it
- Product-aware. They’re comparing options and aren't sure if you’re right for them
- Brand-aware. They prefer you and want to know “the deal”
Awareness is important because it determines where to start the conversation. Your response to, “So what do you do?” is probably different for industry peers than it is at Thanksgiving dinner with your cousin’s new boyfriend Carl.
Masterson devoted an entire book to matching the awareness levels with six kinds of copywriting leads. This helps us determine when we need to get right to the point... or start with a story that eventually makes them realize they need us.
Choose the right channel
Messages don't arrive out of thin air. They travel via channels. How do you know what the right channel is for your message and product?
RightPercent created this useful channel chart based on two factors. First, is the customer looking for a product like yours (ie: awareness)? And second, how specific is your target market?
We already used market awareness to help us choose our message. Now apply that same level of awareness to the channels you choose.
So before you launch the world’s next Quibi, use this Message-Market Fit Map to confirm people like Carl actually want it.
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