Ideas from books, articles & podcasts.
Product-Led Growth is a go-to-market strategy that relies on using your product as the main vehicle to acquire, activate, and retain customers. This is in opposition to the traditional sales model. Instead of helping buyers go through a long, drawn-out sales cycle, they give the buyer the “keys” to their product. The company, in turn, focuses on helping the buyer improve their life. Upgrading to a paid plan becomes a no-brainer.
Companies like Dropbox or Hubspot are some of the companies succeeding with this approach.
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It helps you pick the right go-to-market strategy for your business:
Depending on your strategy you can find yourself in one of the 4 categories, which impact your go-to market:
Traditionally, SaaS products sold to executives at the top. Nowadays, the tables have turned. Products are now cheaper & can be adopted without talking to sales: Slack is a perfect example, spreading organically, starting with one user who invites a colleague, then an entire team.
Red-ocean companies try to outperform their rivals to grab a greater share of existing demand. As the market gets crowded, growth reduces, products become commodities, & cut-throat competition turns the bloody ocean red.
To create a successful product-led business, you need a quick time-to-value. New users need to have a good experience quickly.
As in bowling, we need two bumpers to keep our ball out of the gutter. We can use product and conversational bumpers to guide users to a key outcome.
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