SaaS Chat - Building a Product-Led Growth Strategy for SaaS
1. Product – led growth which is your product becoming a driver for acquisition, expansion and retention, and your product is at the center of your strategy.
2. The end user mentality has changed. They are now tech savvy, do not want to engage in long sales cycles, demand seamless product experiences and are moving away from clunky legacy software.
3. PLG leads to lowered CAC, automated closures and wide market adoption.
4. PLG reduces the burden on Sales and Marketing teams by acquiring quality leads in bulk and speeding up the Sales Cycle.
5. Building virality and referrals leveraging freemium and other product offerings are a couple of the most common strategies for PLG.
6. Along with SQL and MQL, leads can also be product qualified (PQL) that makes the sales process even easier.
7. Building integrations with complimenting products is key as it drives distribution among power users.
8. Self serve is becoming mainstream – customers look for ease of use, guided onboarding using knowledge base, value discovery and zero humans in purchase.
9. PLG Misconceptions to be avoided – PLG is the only recipe to build a successful software and there is no requirement for a Sales and Marketing team.
10. There can be a hybrid of PLG and human assisted sales cycle when a company is targeting all three segments of the market – SMB, Mid Market and Enterprise.