Product-Led Growth: How to Build a Product That Sells Itself
Truly great software companies are built to be product-led. (View Highlight)
As the SaaS industry evolves, I believe there will be two types of companies:
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. (View Highlight)
Pros of a sales-led go-to-market strategy
Cons of a sales-led go-to-market strategy
Pros of Product-Led Growth
Takeaway: The freemium model thrives in the disruptive environment. Keeping costs low draws in prospects using existing solutions. Since the product is a scaled-down version of an existing solution, it must be easy to use. You can use a free trial with a disruptive growth strategy, but it weakens the “magnetic draw” enjoyed by the freemium model. (View Highlight)
Activity: Make a decision on your growth strategy
When using a top-down selling strategy, your sales team targets key decision-makers and executives. Typically, these deals include large product rollouts throughout an entire business. (View Highlight)
Bottom-up selling strategies are the norm in the consumer market. Take Facebook, Twitter, or Evernote: Each created a product that can be adopted in minutes. Unlike the top-down selling strategy, where it may take months or years to close a sale (and another year to understand how to use the product), bottom-up selling strategies demand quick adoption and simplicity. (View Highlight)
Benefits of a Top-Down Selling Strategy
Disadvantages of a Top-Down Selling Strategy
Disadvantages of a Bottom-Up Selling Strategy
The Mistake that So Many Make: User-Based Pricing
• What do my best customers do regularly in the product?
Paradox of Choice,51 a term coined by Barry Schwartz. It boils down to this: The more choices you have, the less likely you are to choose. (View Highlight)
Which sounds better to you? Whether you’re selling perfume or software, trying out a product is and always will be an essential part of the buying process. Consumers demand it. Companies that embrace Product-Led Growth align their business model with an undeniable and enduring consumer trend. (View Highlight)