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How to Shift to
Product-Led Growth
Today’s Panel
Wes Bush
Founder of Product-Led
Institute and Author of
Product-Led Growth
Jim Semick
Co-Founder and Chief
Strategist at ProductPlan
Agenda
1. Introduction
2. Why Product-Led Growth?
3. Elements of a Successful Growth
Strategy
4. Strategies for Adopting Product-Led
Growth Philosophy
5. Live Q&A
Submit questions at any time
during the webinar!
Solving Pain
Focusing on product-driven customer and end user VALUE using the product itself.
Innovative Viral Pricing Model Exciter Features Easiest Start, Try-Buy Online
How many years of product
management experience do you have?
Poll
How many years of product management experience do you
have?
Why Product-Led Growth?
Why Is Product-led
Growth Of Rising
Importance?
Tidal Wave 1: Technology Is
Deflationary In Nature
Think about this. You're now paying less for
Internet than you were 20 years ago. You can
now get a 1TB hard drive for under $100. That
same sort of space used to cost more than a
million dollars not too long ago.
In every industry, it is a race to the bottom. High
profit margins attract competition like moths to a
light.
According to ProfitWell, customer willingness to pay
for features has dropped by 30% in just the last 5
years.
Tidal Wave 2: Low Barrier To Entry
Competition has increased tenfold. It has never been
cheaper to build a Software as a Service (SaaS)
company. (HackerNoon even goes so far as to claim
that you can now build a SaaS product with $0.)
However, because of this low barrier to entry, there
is no shortage of competition. As a result, argues
Andrew Chen, it’s becoming more expensive to
acquire customers.
According to ProfitWell, CACs have increased by
over 50% in the last five years.
The goal is to stay in the
green
As costs increase, profit margins
decrease. If the trend continues, break
even point soon arises. Or worse!
Breakeven
Customer
Acquisition Cost
Willingness To Pay
Tidal Wave 2: Low Barrier To Entry
Breakeven
Customer
Acquisition Cost
Willingness To Pay
Profitable Unprofitable
Tidal Wave 3: Buyers prefer to
self-educate
Three out of four Business to Business
(B2B) buyers would rather self-educate than
learn about a product from a sales
representative, according to Forrester.
This trend does not apply only to small
and mid-size businesses. As Gainsight
notes, “Enterprise buyers also expect to
try and evaluate software in an easy,
frictionless way.”
Tidal Wave 4: Product
Experiences Have
Become An Essential
Part The Buying
Experience
If you’ve used Netflix, you’ve witnessed this
tendency first-hand—you didn’t need to
reach out to a sales rep or book a demo
before you were able to watch and
eventually buy the service. The entire
onboarding and upgrade experience was
handled by the product.
What are the
main benefits
of Product-Led
Growth?
Benefits of Product-Led Growth
Dominant growth
engine
Wider top of funnel
Lower customer acquisition
costs
Faster sales cycles
1
2
3
4
Compound vs linear growth
Rapid global scale.
High revenue-per-employee
(RPE)
Better user experience
5
6
7
8
Where are you in your product-led
growth journey?
Poll
Where are you in your product-led growth journey?
Elements of a Successful
Product-Led Growth
Strategy
How do you find your value
and communicate it to the
market?
How much do marketing and sales
influence the roadmap?
Poll
How much do marketing and sales influence your roadmap?
Strategies for Adopting a
Product-Led Growth
Philosophy
Is the Product-Led Growth
Model Right For Your
Business?
MOAT Framework
Market
Strategy
Gets Job Done
BETTER
Charge MORE
Gets Job Done
WORSE
Charge LESS
Differentiated
Strategy
Win underserved
customers
Dominant Strategy
Win all types of
customers
Out of Business
In due time.
Disruptive
Strategy
Win overserved
customers.
MOAT Framework
Market
Strategy
Do you want to offer the best solution for
the lowest price? (Dominant strategy)
Do you want to offer the best-customized
solution for the highest price to
underserved customers? (Differentiated
strategy)
o Real estate CRM
Do you want to offer the simplest product
for the lowest price to over-served
customers? (Disruptive strategy)
Or are you planning on using a hybrid
strategy?
Ocean
conditions
Blue Ocean
New market and you have to spend
lots of time and resources educating
people on why they need your
solution.
Sales-led typically works best here
MOAT Framework
Ocean
conditions
Red Ocean
o Established market that understands their
needs and how your solution can help
them
• Product-led is the only GTM that
makes sense here
• All markets become red oceans
o A market can have one segment in a red
ocean while the other is in a blue ocean
MOAT Framework
MOAT Framework
Audience
V
S
Buyers
Users
Who are you targeting as a
business?
V
S
Top
Down Bottom
Up
MOAT Framework
Time-to-value
Long time to value means it's
going to be really hard to
make the product-led model
work
Quick time to value
means it can work
Does your
product have
a quick or
long
time-to-value?
Choose Your Product-Led Growth Model
Hybrid Model 1
Launch a new
product
Vidyard Chrome
Extension
Hybrid Model 2
Go freemium, with a
trial
HubSpot CRM with
trials for advanced
parts of the product
Hybrid Model 3
Go free trial, follow
with freemium
Useproof
Hybrid Model 1
Live Q&A
Q&APRODUCTLEDBOOK.COM >>
Q&Aproductplan.com/resources/books-guides/
Thank You.&

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How to Shift to Product-Led Growth

  • 1. How to Shift to Product-Led Growth
  • 2. Today’s Panel Wes Bush Founder of Product-Led Institute and Author of Product-Led Growth Jim Semick Co-Founder and Chief Strategist at ProductPlan
  • 3. Agenda 1. Introduction 2. Why Product-Led Growth? 3. Elements of a Successful Growth Strategy 4. Strategies for Adopting Product-Led Growth Philosophy 5. Live Q&A Submit questions at any time during the webinar!
  • 4. Solving Pain Focusing on product-driven customer and end user VALUE using the product itself. Innovative Viral Pricing Model Exciter Features Easiest Start, Try-Buy Online
  • 5. How many years of product management experience do you have? Poll
  • 6. How many years of product management experience do you have?
  • 8. Why Is Product-led Growth Of Rising Importance?
  • 9. Tidal Wave 1: Technology Is Deflationary In Nature Think about this. You're now paying less for Internet than you were 20 years ago. You can now get a 1TB hard drive for under $100. That same sort of space used to cost more than a million dollars not too long ago. In every industry, it is a race to the bottom. High profit margins attract competition like moths to a light. According to ProfitWell, customer willingness to pay for features has dropped by 30% in just the last 5 years.
  • 10. Tidal Wave 2: Low Barrier To Entry Competition has increased tenfold. It has never been cheaper to build a Software as a Service (SaaS) company. (HackerNoon even goes so far as to claim that you can now build a SaaS product with $0.) However, because of this low barrier to entry, there is no shortage of competition. As a result, argues Andrew Chen, it’s becoming more expensive to acquire customers. According to ProfitWell, CACs have increased by over 50% in the last five years.
  • 11. The goal is to stay in the green As costs increase, profit margins decrease. If the trend continues, break even point soon arises. Or worse! Breakeven Customer Acquisition Cost Willingness To Pay Tidal Wave 2: Low Barrier To Entry Breakeven Customer Acquisition Cost Willingness To Pay Profitable Unprofitable
  • 12. Tidal Wave 3: Buyers prefer to self-educate Three out of four Business to Business (B2B) buyers would rather self-educate than learn about a product from a sales representative, according to Forrester. This trend does not apply only to small and mid-size businesses. As Gainsight notes, “Enterprise buyers also expect to try and evaluate software in an easy, frictionless way.”
  • 13. Tidal Wave 4: Product Experiences Have Become An Essential Part The Buying Experience If you’ve used Netflix, you’ve witnessed this tendency first-hand—you didn’t need to reach out to a sales rep or book a demo before you were able to watch and eventually buy the service. The entire onboarding and upgrade experience was handled by the product.
  • 14. What are the main benefits of Product-Led Growth?
  • 15. Benefits of Product-Led Growth Dominant growth engine Wider top of funnel Lower customer acquisition costs Faster sales cycles 1 2 3 4 Compound vs linear growth Rapid global scale. High revenue-per-employee (RPE) Better user experience 5 6 7 8
  • 16. Where are you in your product-led growth journey? Poll
  • 17. Where are you in your product-led growth journey?
  • 18. Elements of a Successful Product-Led Growth Strategy
  • 19. How do you find your value and communicate it to the market?
  • 20. How much do marketing and sales influence the roadmap? Poll
  • 21. How much do marketing and sales influence your roadmap?
  • 22. Strategies for Adopting a Product-Led Growth Philosophy
  • 23. Is the Product-Led Growth Model Right For Your Business?
  • 24. MOAT Framework Market Strategy Gets Job Done BETTER Charge MORE Gets Job Done WORSE Charge LESS Differentiated Strategy Win underserved customers Dominant Strategy Win all types of customers Out of Business In due time. Disruptive Strategy Win overserved customers.
  • 25. MOAT Framework Market Strategy Do you want to offer the best solution for the lowest price? (Dominant strategy) Do you want to offer the best-customized solution for the highest price to underserved customers? (Differentiated strategy) o Real estate CRM Do you want to offer the simplest product for the lowest price to over-served customers? (Disruptive strategy) Or are you planning on using a hybrid strategy?
  • 26. Ocean conditions Blue Ocean New market and you have to spend lots of time and resources educating people on why they need your solution. Sales-led typically works best here MOAT Framework
  • 27. Ocean conditions Red Ocean o Established market that understands their needs and how your solution can help them • Product-led is the only GTM that makes sense here • All markets become red oceans o A market can have one segment in a red ocean while the other is in a blue ocean MOAT Framework
  • 28. MOAT Framework Audience V S Buyers Users Who are you targeting as a business? V S Top Down Bottom Up
  • 29. MOAT Framework Time-to-value Long time to value means it's going to be really hard to make the product-led model work Quick time to value means it can work
  • 30. Does your product have a quick or long time-to-value?
  • 31. Choose Your Product-Led Growth Model Hybrid Model 1 Launch a new product Vidyard Chrome Extension Hybrid Model 2 Go freemium, with a trial HubSpot CRM with trials for advanced parts of the product Hybrid Model 3 Go free trial, follow with freemium Useproof Hybrid Model 1