Using your product to accelerate growth: a product marketers guide to product-led growth

Transcript

1. Travis Kaufman . VP Product Growth Gainsight Using Your Product to Accelerate Growth A Product Marketers Guide to Product-led Growth @Gainsight @travis_kaufman
2. Overview What Has Led Us to Product-led Growth What is Product-Led Growth & Why It Matters Product-Led Growth & PMM Recap @Gainsight @travis_kaufman
3. New Market = New Expectations What Has Led Us To Product-led Growth 3 significant changes Subscription Models Changed the metrics we use - Measuring acquisition, adoption, retention, expansion and advocacy 1 Consumerization of Enterprise Software 2 Excellent B2C experiences have given consumers high expectations of all products they use Proliferation of SaaS Vendors 3 Higher level of competition coupled with lower switching costs @Gainsight @travis_kaufman
4. Evolution of Go-to-Market Strategies What Has Led Us To Product-led Growth 1990s Early 2000s 2010s Today Field Sales Inside Sales Inbound Marketing Product-Led Growth @Gainsight @travis_kaufman
5. PLG Companies Outperform SaaS What is Product-led Growth & Why it Matters Source: OV Pitchbook from 12/31/2018 market data Faster Growth Rates Higher Multiples Worth 2X More @Gainsight @travis_kaufman
6. Product-Led Growth (PLG) What is Product-led Growth & Why it Matters Product-Led Growth is a go-to-market strategy where your product is the driver of customer acquisition, engagement and expansion @Gainsight @travis_kaufman
7. Product Growth Practices Apply Across the Customer Lifecycle What is Product-led Growth & Why it Matters @Gainsight @travis_kaufman Adoption Acquisition Expansion - Freemium / Trial - Self-Serve Purchase - Trial of x-sell products/features - Enforce usage policies with paywalls to drive up-sell Onboarding - New Product Releases - Entitlement aware In-App Guidance - In-App Guidance / Tutorials - Usage Based Email Reactivation
8. Three Strategies For PMM to Unlock Product-led Growth Product-Led Growth & PMM 1 Define Product-Qualified Leads (PQLs) 2 Use Product As A Marketing Channel 3 Focus on Customer Outcomes @Gainsight @travis_kaufman
9. 1 Product-Led Growth & PMM Product-Qualified Leads (PQLs) PQL Buying intent based on product usage Free Trial | Proof of Concept | Freemium MQLs Buying intent based on marketing engagement Opt-ins | Events | Ad Engagement eBooks | Webinars @Gainsight @travis_kaufman
10. Product-Led Growth & PMM @Gainsight @travis_kaufman Marketing-Led Go-to-Market
11. Product-Led Growth & PMM Outside of Product Engagements In-product Engagements Time @Gainsight @travis_kaufman Product-Led Go-to-Market
12. Product-Led Growth & PMM Characteristics of Product Qualified Lead Firmographics Interest (Survey) Feature Adoption Support Inquiries Product Qualified Lead @Gainsight @travis_kaufman Demographic Role/Title/Function
13. 2 Product-Led Growth & PMM Use Product as a Marketing Channel Key to retaining & up/cross-selling Pre-sale Post-sale Key to converting in free- trial/POC/Freemium In-product messages have 3X higher engagement @Gainsight @travis_kaufman
14. Product-Led Growth & PMM Product Updates Feedback Promotional Adoption @Gainsight @travis_kaufman Example In-App Engagements
15. 2 Product-Led Growth & PMM Use Product as a Marketing Channel @Gainsight @travis_kaufman
16. 2 Product-Led Growth & PMM Use Product as a Marketing Channel @Gainsight @travis_kaufman
17. Product-Led Growth & PMM It’s Not One or The Other: Product-Assisted Drives Growth 67% Higher Email Open Rate @Gainsight @travis_kaufman
18. Product-Led Growth & PMM 3 Focus on Customer Outcomes • Customer Onboarding & User Onboarding • Product Engagement to Source Customer References & Case Studies • Drive upsell/x-sell by enforcing entitlements with in-app paywalls @Gainsight @travis_kaufman
19. Summary Recap 1 Define Product-Qualified Leads (PQLs) 2 Use Product As A Marketing Channel 3 Focus on Customer Outcomes Free Download Mastering Product Experience http://bit.ly/FreePXBook @Gainsight @travis_kaufman