5 Questions to Determine a Must-Have Product

Continuing with yesterday’s post on the 3 Main Reasons Entrepreneurs Succeed, the idea of a must-have vs nice-to-have product is one of the more difficult things to evaluate. So many product ideas seem great when you hear them but when you actually experience a new product, most fall short of being truly transformative. At Pardot, we pitched a number of different modules and features to prospects but most people didn’t use 50% of the product. At it’s core, the basic functionality of sending tracked emails, understanding user behavior at the one-to-one level, and tieing it all in with the CRM provided the majority of the value. Yet, based on feedback from customers, we knew that the core alone resulted in a “must-have” product.

Here are five questions to help determine if it’s a must-have product:

  1. If you told your customers tomorrow that you were shutting down the product immediately, how upset would they be?
  2. When you send Net Promoter Score surveys to your customers, how high do they rate you?
  3. If you called up a random customer on the phone and asked if the product unequivocally helps them make more money or save money, would they reply with a resounding “yes”?
  4. When an existing user changes jobs, how hard do they push to get the product in place at their new employer?
  5. When your app goes down briefly for maintenance or a server error, how loud and fast are the complaints?

Figuring out if a product is a must-have can be difficult early on. As things progress and more customers come on board, hearing statements like “I don’t know how I did my job before using this product” are good indicators of a must-have app. Use these questions to determine if a product is a must-have.

What else? What are some more questions to help determine if a product is a must-have?

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