PMF is the validation that the value proposition in your product creates actual customer excitement to purchase your product, which will translate in actual sales. Measuring PMF insures that you measure the market intent in purchasing your product.
The basic methodology to measure product-market fit resolves around engaging conversations with potential clients. As such, you contact early adopters, and evaluates their interest in the product or service. The principle is that by interacting with your early adopter; you can identify something they react positively to, and then focus on your product or service on that key element. If, after your investigation, your current product doesn’t have a market fit, your efforts will have to be dedicated on retooling your product. This might mean changing the target market, changing the product, or both.
For more information about Product-Market-Fit, you can consult one of our case studies (TTP), or you can read one of my articles on the topics on LinkedIn, The Marketing Q&A #4: Is my product right for the market? How to measure Product-Market-Fit (PMF)