Your current sales technique will not work in the next 5 years.
And the reason being the same prospects you are tapping at the moment.
Take a look at your prospects, have you wondered why they want to explore your brand from the crowd?
Have you ever thought that the minute your prospects land on your website, do they really want to engage with you?
You are aware that your prospects need no teaching about your brand, they can conduct their own research and find out all that they need to know about your brand, so the question here is when this is the situation, why can a brand like yours do?
The answer is easy, cater to them by putting only your product first.
And this means that your product’s value, purpose, benefits will be the key selling factor.
You want to sell in 2020, you need to adapt to the efficient selling techniques that can help you increase your sales higher with minimal efforts.
This is exactly why you and your brand needs to be acquainted with the concept of ‘Product Led Growth.’
This concept can help you achieve the following:
1 . Increase sales better
2. Let’s you engage in the right way with prospects
3. Focuses your attention on brand awareness rather than just selling
4. Let’s your product become the sole earner for your business
By the end of this article, you will be able to take insights that can help you get started with this concept such as:
Table of Content:
Let’s get started.
Meaning of ‘Product Led Growth’
Your product will be your sales factor.
As the name suggests, your product will be the highlighted factor and will continue to be in the coming years. The main motive of Product Led Growth is to sell the value of the product first.
Have you ever felt that you could get some more time to learn about a product before you can invest in it?
Just like you, there will be multiple other prospects who feel the same which is why Product Led Growth has come into the picture.
Product Led growth is a unique solution that enforces a product to increase acquisition, retention, and successful growth of a brand. Imagine this, what if your product is so loved by a prospect, don’t you think that the word of mouth action will take place next by them?
This is exactly what will happen. Using this concept, you are going to help your prospects understand your product better. You are going to make the path between your product and the prospect easy to take place.
In Product Led growth, there are two ways you are tapping your prospects to engage with your product, one being the free trial method and the other being the freemium method.
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Now the free trial method is common which is giving your services for free for a limited time mostly for 30 days or 14 days. But is time enough for your prospects to understand what and how your product offers?
That is when freemium comes in. Freemium too offers free services of your product but there is no limited time which means that until your prospect is satisfied, they can continue to use the free service. When your prospects get used to your product, you can then upgrade them slowly as they will trust your words confidently.
The Product Led Growth process will impact three sectors in your brand to help you sell better.
Let’s help you understand it better.
1 . Marketing – What does your marketing team do? Place ads about your brand, create campaigns so that prospects are compelled to learn about your product better. This is exactly what Product Led Growth is going to do. It’s going to market your product in a unique manner.
With every prospect journey, the marketing tactic here is how can your product help them here. The main agenda of the marketing trick here is to compel prospects to invest in your brand, they should be able to love your product and continue to invest in your upgrades and payments on their own.
Product Led growth is a great way to conduct marketing because the emphasis here isn’t just selling the solution, it is helping the prospect learn and understand why they should this product is best for them.
2. Sales– Product Led growth nurtures the actions of sales activities in a better manner. Instead of your sales team speaking out information about your brand, their focus is going to be on how they can help the prospects get acquainted with the product better. They will play the role of experts to guide prospects.
For instance, since your prospects have conducted their research on multiple products, with the information of their needs, as sales experts, your team can help guide them. For example, say your prospects are looking for a budget-friendly way to capture leads, and you are a vendor of live chat services.
You can easily state the benefits of your live chat solution and suggest a great package to get them started. Live demos too can help your prospect take a tour of your product and enjoy the services you offer them completely.
3. Pricing – How do you set your prices? Did you know that a prospect wouldn’t mind investing in your solution when they are aware that your product has what it takes to cater to their needs? This is important which is why setting a good pricing strategy is important.
When a prospect has invested in your product, allow them a free trial period, so that they can understand, learn, and explore how your product works. When you want them to purchase your product packages, put it in a manner where your prospects understand the value it holds.
For instance, when your prospects have received 10 confirmed sales leads from the free trial, you can tell them that if they invest in the $20 pro package you have, they will get twice more which will help them to grow their business better. At this point, chances are your prospects will confidently invest in your words.
Product Led growth holds multiple reasons as to why investing in it is a better choice. Let’s get a deeper understanding of its existence by learning the components it holds.
Efficient Components of Product Led Growth
- The marketing factor here is your product
- The main agenda of your product existence is to ensure that prospects are sharing your solution with others
- The job of marketers isn’t just to get prospects, retaining them and ensuring user onboarding matters too
- The main focus here is to make the user experience the best
- Another focus should be on self-service processes and training before you can convert prospects into sales leads
- As a team, growth-related exercises need to be conducted consistently
- On the basis of how well your prospects are using your product, accordingly, you need to create a personalized onboarding experience and conduct upgradation
- Ensure that selling here is only taking place of product value first
Product led growth is important if you want to smartly tap prospects in a manner that can be conducted efficiently. Multiple top brands are following in their footsteps for a reason.
Let’s understand what this reason is.
Benefits of investment in Product Led Growth
1. The growth of prospects will be higher
How do you currently capture your prospects?
An investment in marketing activities will help you. But imagine what happens when you offer a free trial and freemium solution to your prospects? Don’t you think that conversion rates will be easier to increase?
Your competitors will be busy spending multiple amounts of money on capturing prospects while on the other side, you are ensuring that through the free trial and freemium model, your prospects will be able to explore and understand your product better.
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When your prospects are happy after they use your product, wouldn’t it be busy to convert them into sales leads? Instead of first capturing them and then explaining to them what your product is and then letting them try out, what if you eliminate the last two processes and focus on the latter?
The amount of prospect capture will increase and converting them into sales leads takes place quicker.
2. Delivers enhanced user experience
What do your prospects expect from you? They just want to know how your product can help them. Instead of just explaining to them, don’t you think that letting them use it on their own can help?
This will be a better strategy because the user experience here is enhanced. Prospects don’t have to wait to try out a product, they can just get started with it and see how the product can help them. User experience is important because when you make it easy for a prospect to use your product, your opening rooms of opportunity to close multiple sales deals.
3. Minimum number of staff required
When the focus is on the product, why put all of your investment in hiring more staff to sell that same product? Instead of hiring multiple teams to sell your solution, you can divert all of that attention and requirements and revenue to creating a better product and even better user experience.
When your prospects are compelled to try out your product and also find its way easy to get started, that is when you know the right investment has taken place.
4. Creates brand awareness on a higher scale
Do you know which is the better advertising medium for any brand? When your prospects advertise it themselves via word of mouth. You spend multiple amounts of money, to capture one lead, and then the process starts to nurture and convince them to engage and invest in you.
What Product led growth does here is when you offer your product solution in the most efficient and easy way to your prospects, it will compel them to sell you more to their loved ones. And when that loved one connects with you, it wouldn’t take much of a convincing process to convert them into a potential sales lead.
5. Tap hot leads only
When you use your methods to capture prospects, not every one of them will be hot leads, a few of them would be warm leads or cold leads also. But with Product led growth this isn’t the case. Your team will be capturing only those leads who have visited your website and try your product.
These are hot leads and as you continue to show them your product value, they grow to become hotter and easier to convert. Imagine this, by the time your competitors are identifying the right leads and then working to convert them, you would have converted at least more than 2 hot leads instantly.
6. Can capture the attention of leads who are not making use of the product more
So say there are a few prospects that are trying out your product, now there are a few that are not making use of your product features, what do you do? You need to act fast because if you don’t you will be losing out on an opportunity to tap potential prospects. So with Product led growth what you will do is you will collect such leads data.
You will analyze what is happening and get onboard to help them out. For instance, say your prospects are looking to invest in a live chat solution and they are only using limited features of the chat window they are using. You notice this and approach them and show them what are the other features they can do such as export those leads, create a separate chat widget to attract prospects and so much more.
The prospects will continue to walk the path that you’ve created for them and continue to love your product even more.
7. Beats the tough competition
As stated earlier, your competition will be busy spending multiple amounts of money to capture prospects, nurture them, follow up with them, and finally convert them into a sales lead. But your brand, on the other hand, is focusing on how your product can win over your prospects. The sales funnel is lesser and the chances of sales conversion to increase are higher.
8. Becomes dependent on your product
When you exhibit your product to your prospects and they continue to use it, they become dependent on it. For instance, when your prospects realize that they are getting better business with your live chat service, why will they want to leave you?
They will continue to invest in you and make sure that any upgrades required are conducted. The main focus of product-led growth is that your prospects need to understand that your product can cater to their needs and they shouldn’t let go of it because they also understand that such a product is exactly what they were looking for in the market.
9. Cost-efficient technique
Product led growth is a cost-efficient technique because the investment here is on making the product the eye of sales. The main revenue invested here is to ensure that the product creation matches the prospect’s requirements, the retention and onboarding practices are taken care of and everything related to product refinement is managed.
Product led growths concept is about capturing leads in an efficient manner which is the product and letting them realize that what product you are offering them is worth their time and investment.
10. Sells product value
Sales isn’t just about selling. When you prioritize sales, you are not just selling your product to the prospects, the main focus here should be selling the features, the value, the purpose the product holds.
In product-led growth, the main focus here is how your product can add value to your prospects? How can it help your prospects? The reason why Product led growth practices are growing is because when your prospects understand what your product is completely and why they should invest in it, sales doesn’t become a hassle task.
The reason for your product existence makes sense then.
Now that you are aware of what product-led growth is and why an investment in its practice matters, let’s deepen your understanding of another factor that will help you understand how this concept functions with sales.
How has the customer acquisition process changed?
1. Instead of you having to contact leads and nurture them and tell them about your brand, the product you sell to them will speak on behalf of you. Your product will be the way sales is taking place. So eventually all the marketing that you do, the main focus will be on getting your prospects to try out your product.
2. When your prospects sign up for your product usage, they become product qualified leads because they have signed up in your brand solution. Here your team whether it is your marketers or sales, the main focus here would be to guide them to use your product better. Instead of having to preach your product features, you are going to help them understand how a feature or your product works in life.
3. Lastly, when the product experience is good, that’s when your prospects will decide to retain as a sales lead. This means that right from the onboarding process, to the features of the product, everything needs to be simple to understand and conduct so that when the prospects are making use of your product, they will be convinced that this product is the solution they will invest in confidently.
4. When you convince your prospects by exhibiting your product, they might not be as confident in investing in it. But when they try out the products themselves and are guided by your team to learn and explore what your product offers, there are high chances for better sales and conversion rates to improve.
Conducting Product led growth isn’t difficult, if you follow the right tactics and understand how it can enhance your business, following such an efficient concept becomes easier
14 Effective Strategies to conduct Product Led Growth
1. Understand the 4 vital questions
The 4 questions are:
- Who is buying the product?
- Where will they know about the product?
- Why is your product being bought?
- How are they buying your product?
When you are able to understand the above questions that is when conducting product-led growth actions happen well. Let’s understand this better.
A. Who is buying your product?
The main focus should be on the prospects you are targeting. They are the ones who are looking to cater to their needs with the solution being provided by your product.
B. Where will they know about the product?
In product-led growth, mostly word of mouth is where other prospects can come to you. Instead of focusing more on heavy marketing activities, ensure that your product gives your prospects the will to share your solution to their loved ones.
C. Why is your product being bought?
There are multiple brands in your market that sell the same product you have, how can you distinguish them from yours? Here is when product-led growth can help you. With free trials and freemium methods, you are giving a golden opportunity for your prospects to invest in your solution and confirming why they should purchase your product.
D. How are they buying your product?
Your prospects need to be buyers not when a sales rep converts them but when they make use of your product. After experiencing your product, they should confidently convert themselves into becoming a loyal customer of your brand.
2. Don’t focus on product design completely
Yes design matters, but at the end of the day, it’s not the design that will remind your prospects about your product, it’s the value your product delivers. While you focus on creating a product externally, ensure that your number one focus should be on how your product is internally as well.
3. Focus on prospect’s pain points
When you are able to understand what your prospects are looking for, that is when your product can be understood and sold by them. For instance, say your prospects are looking for an automated email service to fasten its email sending activity. They appear on your website to find the solution.
As they understand your product, they are able to identify that you offer automated email service as well as personalized email service so that the email marketing activities can be better, your prospects will be compelled to explore and invest their time in your product. When you have what your prospects needs are, it becomes easy to conduct sales activities via such a platform.
4. Sell your product where your prospects are
If your prospects go to Chrome extension to find their ideal tools, place your product there. If they use an app store to find their tools, place your products there. The important factor here is you need to identify where your prospects find their tools and placing your products there will be helpful in bringing your product closer to the attention of prospects.
You need to ensure that your prospects are aware of your existence and the best way to do that is when you place your product in such a platform that your prospects visit to find their ideal solutions.
5. Make it easy for onboarding
When your prospects land on your product, the first thing you need to understand is that the process from signing in till they reach the end of your product should be easy and simple. Make the process in such a manner where they could sign up with just an email address and with every step of understanding your features, there could be a demo video to help them get started.
From the above image, as a prospect yourself, which one would you choose?
Don’t you think the second one would be the majority of choices collected?
The reason being there is automated onboarding, knowledgebase, sign up without having to engage with anyone. You could just get started easily and take your time to learn about the brand. This is exactly what your prospects will do if such an easy onboarding experience is given to them.
6. Focus on value rather than selling
If your product has multiple features but yet doesn’t cater to the exact needs of your prospects, chances are it is going to fail. Have you ever imagined why a few of your prospects weren’t able to sustain longer with you? The reason could be multiple, but one common reason is that your product’s value wasn’t evident enough.
When you start selling your product for the purpose of sales purely, capturing prospects and retaining them becomes difficult and at times impossible which is why product-led growth switches the process itself. It helps you to focus on selling the product’s value, features, and purpose first and everything else comes secondary later.
7. Hire a sales team later
In product-led growth, the sales of the product don’t depend on the sales teams who conducted the action, the sales of the product depending on the product alone. Your product will increase customer acquisition and deliver an enhanced user experience for all your prospects. Once your prospects have entered into your product, you can hire a few teams to guide the prospects on the features and more purposes the product offers.
8. Reduce product friction
No likes to spend time on a longer sign up process, neither does anyone like to see unnecessary features. Hope you are getting where we are going. As a brand, even with the features that you introduce for the product, everything has to be relevant. Each of those features needs to have the ability to serve your prospects for all their needs.
Also when it comes to onboarding, it would be better if the process is easy. For instance, let the signing up process be with just one click, or to make use of a feature can take another one click. The more easy you make the process, the better are your chances of getting the interest of your prospects retained longer.
9. Placing product-led growth practices in the right place
When you are able to place the right product-led growth practices in the right place, there are high chances of drawing multiple prospect’s attention towards the product. The below list can help you get started:
A. Homepage of the website
Freshbooks has created a simple and easy design with the content that will make its prospects to continue their investment in them. They have made the onboarding experience very easy with just email signup to get started. They have also added social proof in the corner of the CTA button so that prospects in doubt that confidently clear their curiosity about the product.
Pro tips for product-led growth practices in homepage:
- An easy onboarding experience to get started such as free demo, or entering an email to get started
- List brief information of what the product is about and eliminate any unnecessary jargons which will make it difficult for the prospects to understand
- Place relevant visuals so that the prospects can have a view of your product
B. Pricing page
Now the whole agenda of product-led growth is to ensure that your product is available for complete use to your prospects for them to understand it better. However, when they start to depend on it, taking them or rather upgrading them to your features with a price will take place soon.
Hence it is important that you understand your pricing list needs to be simple and understandable for why the prospects need an upgrade.
This image is from the brand Buffer, a social media scheduling tool who have upgraded their pricing pages recently. As you can see, the prices are relevant to the features being offered. Also, with the taglines such as ‘ideal for getting started’ or ‘ideal for larger teams’, this can help prospects to choose the right pricing fit to enhance their solution with the brand Buffer better.
C. Sign up page
In product-led growth, the priority is that prospects need to try out your product which is why your signup page needs to be easy to get started.
As you can see the process is so simple to get started on Uber, All the prospects need to do is enter their email address and they will get started for free and that too forever. Don’t you think this is a great medium to tap prospects to get to try Uber? This is, in fact, a brilliant way of capturing them.
Pro tips for product-led growth practices for Sign up pages:
- Enter a social proof to tap prospect attention, it could be statistics of your users or testimonials
- Ask for a small detail to get started on your product which in this case is an email address
- Ensure that your prospects are aware that they are going to start for free as it is mentioned in the image, ‘No credit card needed’
D. Using content to tap prospects
You need to build your prospects list and this needs to be done when you find ways to tap them to come towards your product. What best way is there to do with content. Content is important and it can help to tap the interest of your prospects to come to your product and give it a shot.
Pro tips to make your content catch the interest of multiple prospects towards your solution:
- Focus on SEO activities
- Write guides and tutorials so that when a prospect views it they will use that to conduct the actions listed
- Write case studies so that you can help your prospects understand how your brand has helped other companies achieve their success goals.
Your onboarding process needs to be easy. When they sign in for your product and walk-in, another great way to guide them to utilize your product better is to first understand what they are looking for in your product.
As you can see in the image above, the brand SproutSocial conducts such a questionnaire to understand their prospects better. This information can help the brand to understand what each of the prospects is looking for and how they can be guided further.
10. Measuring Product led growth progress
The best way to conduct efficient product-led growth activities is when you are able to observe and understand your analytics or rather your result better. Keeping a close eye on your results can help you understand how your performance is, it also helps you to eliminate any mistakes which are causing a fallback, and lets you deliver only the right factors that contribute to a successful deal being closed.
The top 4 analytics you need to measure are:
- Revenue- Your revenue count is important because that is when you understand how well the figures are for you. With the revenue count, you can understand whether your progress has been more or less when compared to the numbers a year back. You can conduct monthly revenue or yearly revenue calculations accordingly.
- Churn rate- Reducing churn is important because if your churn rate is high that is when you know you’re going for a loss. When you start to see your prospects leaving from your solution that is when you know the churn rates are coming through. With product-led growth, you can reduce this by acquiring more prospects with the help of your product. When the prospect count is more, churn rates happen very rarely.
- Usage- Another analytic you need to measure is how much your product is being used. If the usage count is more then that’s when you know that your product is highly being depended upon multiple users. You can even scale the price of your product with the value your product is giving your prospects as well.
- Referrals- Another main focus of product-led growth is that your prospects will get more of their friends or peers to invest in your product via word of mouth. When you have more referrals coming in that is when you know that your product is adding the real value to being exhibited to others.
11. Start engaging
When your prospects have stepped in your product that doesn’t mean that they can be converted into sales leads immediately, they will take time to learn and explore your product. So what happens when you add engagement in this process? The chances of tapping leads will be quicker.
Identify what your prospects are looking for with their actions, drive more engagements to understand what they need and what are the results they are expecting. Accordingly, you can guide them better with the product.
12. Keep a closer eye on prospects actions
Do you know that there is another easy way to conduct efficient product-led growth? That is when you start to observe your prospects’ actions. There will be a few prospects who will be stuck and it will be evident when you start to see the metrics. The usage will drop and many of them will find themselves confused to continue further.
During such a time, keeping a lookout for your prospects’ actions can help you because when they are stuck, you can guide them forward. This will help your prospects to learn better and understand your product quicker.
13. Give your prospects exactly what you promised
If you have told your prospects that they will receive a higher conversion rate on the use of your product, it is important that you deliver the same. The reason why a prospect would invest in a product is because the brand has promised that it would help the prospects to achieve their needs.
Hence it is important that you help, guide, and enlighten your prospects with the ways you can help them so that they can start building up confidence once they are done experiencing your product.
14. Sales and marketing teams need to function together
Ideally, the marketing team would capture the prospects and the sales team would work on converting them into sales leads but with product-led growth methods, both the teams will have to be merged. Both teams can help the prospect to learn better about the product being offered to them.
For instance, with marketing, you can capture the attention of prospects to try out the product and with the sales team, you can act as experts to guide the prospects to use the product better. Even marketers can help to act like product experts.
Product led growth has made a difference in multiple well-known companies today. Today with the help of product-led growth, such companies are soaring higher and better with their current and new prospects.
Let’s understand better with the examples listed below:
Examples of brands who are successful with Product Led growth measures
Zoom is a well-known video conferencing platform that is used by multiple brands today. It was created to solve the inefficiency of video conferencing solutions. It was started in 2011 and by 2013, the numbers started to increase with 3 million users. Then in 2014, it hit 30 million, and now in 2019, they have a market cap of $15.9 billion.
This all happened because they started to apply product-led growth methods. Zoom offered free 40 minutes calls to anyone and this became the highlight of the product. Soon multiple brands depended on it and started investing in its advanced features and more.
Dropbox is also a great example of product-led growth. It was created as a simple and usable product meeting market demand which soon grew to the point of file sharing. Since the file-sharing feature grew as the best highlight of Dropbox, it started introducing multiple features of it. Dropbox then started to give its prospects more storage credit if they share a referral link and the prospects started to do that. Not only did Dropbox get more new prospects, but it also helped to enhance its current prospects as well.
Product Led growth is the future because its main focus is the key to successful sales growth for the modern businesses of today. And for proof, we have a few experts that share mutual thoughts.
Expert opinions about Product Led Growth
1. “Product-Led Growth is about helping your customers experience the ongoing value your product provides. It is a critical step in successful product design.” – Nir Eyal, Wall Street Journal Bestselling Author of “Hooked: How to Build Habit-Forming Products
2. “The future of growth is product-led. Data shows that companies leveraging a Product-Led Growth strategy perform better on average – faster growth, higher margins, lower burn and stronger valuation multiples. Product-Led Growth will soon become the norm, making it table stakes for SaaS companies that want to win in their markets. What is your company doing to adapt to the product led growth revolution?”– Blake Bartlett, Partner, OpenView
3. “Product-Led Growth changes how companies grow because it brings a focus on how the product you’ve built can help you acquire more customers. Customer acquisition doesn’t just become something marketing is focused on, the responsibilities for acquiring great customers expands to the product team as well.” – Hiten Shah, Co-Founder of FYI, Product Habits and Crazy Egg
4. “Product-Led Growth might be buzz-wordy right now but this is going to just be called “good business” very soon.” – Val Geiser, Digital Strategist
5. “In a world where brands promise more than they can deliver, companies that embrace Product-Led Growth stand out from the pack. Promising a better life to our buyer is now table stakes. We need to deliver on that promise. Our customers deserve it. Instead of hiding our product behind closed doors – it’s time to lead with our product and let people see for themselves if we deliver on our promise.” – Shobhit Chugh, Product Manager for Crashlytics, Google
6. “Product-Led Growth is about prioritizing the user experience in everything you do: your product, pricing, marketing, customer engagement and even buying experience. An incredible user experience inevitably leads to faster growth, greater customer expansion and best-in-class retention.” – Kyle Poyar, VP of Market Strategy, Openview
7. “Organizations that adopt product-led strategies don’t just have higher customer satisfaction ratings, they scale faster all while spending a fraction on acquisition when compared to traditional sales-led organizations. Product is now the single biggest lever for growth – if you’re not already moving in this direction, watch out.” – Jackson Noel, CEO, Appcues
8. “Product-Led Growth is the only distribution model worth undertaking once the market is mature.” -Pankaj Prasad, Director of Product Management, Salesforce
9. “Many SaaS businesses strive for $0 customer acquisition cost (CAC) and yet most still end up spending a small fortune acquiring each new customer. If you want to get to $0 CAC, Product-Led Growth is the only way you’re going to make it happen.” – Olof Mathé, CEO, MixMax
10. “Product-Led Growth is the multiplier on top of all the marketing every company is already doing. If you’re advertising without a product that naturally markets itself you might as well be lighting your cash on fire.” – Amar Ghose, CEO, ZenMaid
11. “From a marketing and sales perspective, Product-Led Growth is a game-changer. It means you can deliver on your promise to prospects. It also means the product sells itself if you get in front of people at the right stage of the buying process. Rather than stuffing leads into a leaky funnel, you are retaining happy customers who spread the word to others.” – Juliana Casale, Head of Marketing, CrazyEgg
12. “Product-Led Growth is about using your product and your product data to convert prospects, retain users and expand customers. In today’s highly competitive SaaS market, Product-Led Growth needs to be an essential component of your technology business.” – Eric Boduch, Chief Evangelist, Pendo
13. “A strong brand and social proof are no longer enough to build trust with the modern buyer. You need to let people try before they buy. The Product-Led Growth model is how you make this whole approach to doing business a reality.” – Karim Zuhri, Head of Product Marketing, SafetyCulture
14. “At heart, Product-Led Growth is incredibly intuitive. It’s understanding that no amount of flashy marketing or hard selling can replace the value a customer receives from a product built to fit their needs. Make something that consistently provides value and you can rely on your customers to come back again and again.” – Kristen DeCosta, Growth Marketer, Churn Buster
15. “The sales-led way of buying software: Read about the software, create a list of features needed, let sales qualify you, do a demo, and twist their arm so they give you a trial. The product-led way of buying software: Just start using the product. Ask for help if you get stuck. Based on your usage and profile, receive personalized recommendations. Which sounds better to you as a buyer?” – Peter Caputa IV, CEO, Databox
16. “Given the low-barrier to entry in SaaS, competition has never been more fierce. To stand out from the crowd, you need a competitive advantage. Product-Led Growth is the one way to build a sustainable business while lowering your customer acquisition costs and churn.” – Anumita Bhargava, Digital Marketing Specialist, Altina
17. “Product Led Growth is a powerful framework, taking the best parts of product development and go to market expertise to build a customer-obsessed and fast-growing business. Putting your customer at the center of the experience helps you tap into their motivations and behaviors, building loyalty and driving revenue!” – Francesca Krihely, Director of Growth Marketing, MongoDB
18. “Understanding Product-Led Growth is more than just understanding a new business philosophy…it’s about empowering yourself to craft a strategy that will result in a better ROI for you and your business. Because in a Product-Led Growth world, your product sells itself and has the self-service levers to make that happen without needing to invest a fortune in sales and marketing.” – Matt Bilotti, Product Manager, Growth, Drift
The Bottom Line…
In today’s business front, success doesn’t just define your sales numbers, when you realize that half of your prospects have heard about your solution through word of mouth, that is when you know you’re soaring.
Product Led growth is an excellent concept that strives brands like yours to win over prospects by first making them acquainted with your product first. When you tend to focus from a sales point of view, many times prospects don’t receive the complete satisfaction and confidence to invest in your brand.
When your prospects can see for themselves, use your solution and then feel convinced, that is when you know you have a value-added prospect coming in your business. Create a product that can cater to the needs of your prospects, answers their queries, is easy to understand and use, and above all showcases its real purpose.
When the outcome happens, you’ll be surprised at how well your sales, conversions, and customer acquisition is being impacted.