The consumerization of IT – a now ubiquitous trend – has led B2B software users to demand better experiences from the products they rely on every day to get their jobs done. It has also shifted the power center away from the buyer towards the user, leaving companies scrambling to create truly one of-a-kind product experiences that draw users in and provide on-the-go mobile and cloud access.
Companies like Slack, Expensify and Dropbox have embraced this new paradigm. These companies have not only built products their customers love and actually want to use, but have helped to replace outdated, clunky legacy systems that often created more pains for the user than solutions.
Creating a truly enjoyable experience for the user also provides meaningful returns for the product provider. The products produced by Slack, Expensify and Dropbox serve as the foundation for each company’s go-to-market strategy. That is, product usage serves as the primary driver of user acquisition, expansion and retention, meaning these companies can forgo spending large sums on traditional marketing and sales activities. Instead, they rely on the products themselves to supply a pipeline of satisfied users and ‘hand raisers’ they can turn into paying customers.
This phenomenon is what OpenView calls product led growth – a capital efficient model through which companies can scale quickly.
In our exclusive playbook, we’ll walk you through the most common characteristics that unite product-led growth companies. We’ll also provide advice for how PLG businesses can optimize their product, marketing, pricing and sales to scale effectively. And if you’re a traditional sales-led business, we’ll provide key insights into how you too can incorporate product-led strategies to turn your existing business into a more efficient growth engine.
Get started with your PLG strategy. Access the playbook now.