July’s Product Market Fit: Wrapup!
The month of July focused on InsuredTY’s product market fit, and satiating customers. Within this blog, I will write about my personal experiences while trying to please customers in this industry, and how our team functioned.
How did InsuredTY Product Improve?
Here at InsuredTY, we are selling term life insurance. In order to sell this insurance, we also need to sell ourselves, and our up and coming company. We work relentlessly each day to perfect our website, our social media platforms, and our own dispositions, since we have to sell the legitimacy of our company as well as our product. Through building brand awareness and educating ourselves constantly about insurance as a whole, we are improving our product.
What do we need to do to find a market?
As of right now, we are taking multiple approaches when it comes to finding the perfect customer. We are searching for international customers as well as customers based in Flushing or Brooklyn. Continuing to broaden our scope and further create customer profiles once we have a variety of customers will be essential to finding a specific market.
What did you learn about product market fit in July and why was it so difficult?
I learned that product market fit is creating a product that greatly satisfies a certain market. I found it difficult because the main market that I could provide as potential leads for our insurance are all college aged students, who are not interested in purchasing life insurance. It is not the correct age group for insurance. Also, the market for insurance is incredibly competitive to begin with, so building brand awareness takes up time as well as marketing our product.
