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Is Product/Market Fit Hiding in Your User Base?

Sean Ellis · 9 Sept 2026

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  1. Without a retention plateau, growth will not compound. Eventually all newly acquired users are simply replacing the ones that are churning.
  2. But ultimately real user behavior is much more important than what users say in a survey.
  3. I’ve increasingly come to think of product/market fit as something that you search for rather than simply measure.
  4. For companies scoring above 40% on the PMF survey but struggling to find a plateauing retention cohort, I would therefore consider the survey result encouraging rather than contradictory.

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