What I Learned from OpenView’s Product-Led Growth Summit

On May 9th, OpenView convened 100+ SaaS leaders from our portfolio and network for our second annual Product-Led Growth Summit in San Francisco. The event and proceeding ‘Growth Office Hours’ were filled to the brim with new connections, sage advice and in-the-trenches stories from operators. Here are our most important takeaways. Darius Kyle Brian PLG Summit

First off, what the heck is Product-Led Growth?

Not just another buzzword…product-led growth is an important go-to-market strategy that underpins some of today’s most successful businesses. Think Dropbox, Slack, Intercom, Expensify and Datadog. Here at OpenView, we define product-led growth (PLG) as a strategy that puts the product front and center when it comes to how a company acquires, expands and retains customers. Relying on a product-led strategy yields rapid, extremely efficient growth. Although similar to a freemium approach, a product-led growth strategy doesn’t actually require that you offer your product for free. It does however necessitate an
Elena Verna PLG Quote
Todd Jackson PLG Quote
Merci Grace PLG Quote
Tomer Cohen PLG Quote
Brian Blafour PLG Quote
Dannie Chu PLG Quote
Ashik Ahmed PLG Quote
PLG Ashley Tope
Tope Awotona PLG Quote
Andy Wilson PLG Quote
Continue reading "What I Learned from OpenView’s Product-Led Growth Summit"

What I Learned from OpenView’s Product-Led Growth Summit

On May 9th, OpenView convened 100+ SaaS leaders from our portfolio and network for our second annual Product-Led Growth Summit in San Francisco. The event and proceeding ‘Growth Office Hours’ were filled to the brim with new connections, sage advice and in-the-trenches stories from operators. Here are our most important takeaways. Darius Kyle Brian PLG Summit

First off, what the heck is Product-Led Growth?

Not just another buzzword…product-led growth is an important go-to-market strategy that underpins some of today’s most successful businesses. Think Dropbox, Slack, Intercom, Expensify and Datadog. Here at OpenView, we define product-led growth (PLG) as a strategy that puts the product front and center when it comes to how a company acquires, expands and retains customers. Relying on a product-led strategy yields rapid, extremely efficient growth. Although similar to a freemium approach, a product-led growth strategy doesn’t actually require that you offer your product for free. It does however necessitate an
Elena Verna PLG Quote
Todd Jackson PLG Quote
Merci Grace PLG Quote
Tomer Cohen PLG Quote
Brian Blafour PLG Quote
Dannie Chu PLG Quote
Ashik Ahmed PLG Quote
PLG Ashley Tope
Tope Awotona PLG Quote
Andy Wilson PLG Quote
Continue reading "What I Learned from OpenView’s Product-Led Growth Summit"

SaaStr Podcast #172: Jon Lee, Founder & CEO @ ProsperWorks on Why It Is Easier To Start In SMB and Work Your Way Up

Welcome to Episode 172! Jon Lee is the Founder & CEO @ ProsperWorks, the #1 recommended CRM for G Suite. To date, ProsperWorks have raised over $85m in VC funding from the likes of True Ventures, Norwest, GV, Bloomberg Beta, and more incredible names. Prior to ProsperWorks, Jon started in investment banking at Merrill Lynch before moving to run a large operations team at Yahoo. Jon then founded Bazaar Advertising Solutions, a business self funded from a Palo Alto apartment that Jon scaled into a highly profitable $47m business in less than 2 years. Jon then sold Bazaar to Epic Media in 2006. Following the acquisition, Jon founded DNA Games, the number one casino simulation game on Facebook with more than 20 million players, ultimately acquired by Zynga in May 2011. In Today’s Episode You Will Learn:

The 5 Pillars for Product-led Growth using Product Qualified Leads

A practical guide to turn your product into your best growth tool

In my previous post Why Product Qualified Leads Are Rapidly Being Adopted In SaaS I wrote about the main drivers that led many SaaS companies to adopt a new and more effective approach to qualify prospects. That new approach hinges on leading with the product and using feature and usage as primary lead qualification metrics.

PQL vs MQL

I’ll open with an interesting fact published by SiriusDecisions with regards to marketing qualified leads (MQLs):
98% of marketing qualified leads never result in closed business.
Assuming marketing is judicious about which leads it sends to sales for follow-up, clearly MQLs are not the best way to model leads. Traditional MQL model The traditional MQL model In the traditional MQL model, marketing teams focus on nurturing prospects from awareness to qualified leads. The goal is for marketing to fill up the sales pipeline,
Emerging PQL Model
PQL Model in PLG Strategy
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Survey: What Buyers Find Most Important Before and After Purchasing Software

No product will ever meet all of the ideal criteria of a client. Especially when it comes to business software, the key to customer satisfaction and finding the right fit is taking two specific steps: making a list of ideal criteria, and considering which trade-offs you would be willing to make. In some cases, this could be boosting the budget a bit to ensure you get all the bells and whistles that you need. In other cases, it could mean trading in some of those bells and whistles for a simpler user interface. Either way, the idea remains the same: the goal should never be to create the best objective software possible (since that is generally impossible). Instead, it should be about creating what works well for your customers or business. These tradeoffs are at the core of a buyer’s decision making process. Because of that, it is important to
Software Purchase Survey
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The 2018 Ultimate Guide to Artificial Intelligence

Editor’s Note: You can read our 2017 Ultimate Artificial Intelligence Resources Guide here. 2017 was a big year for artificial intelligence. We saw the first human Go player defeated by a machine (AlphaGo), Saudi Arabia grant citizenship to an ‘empty-eyed humanoid’ named Sophia and – more practically – the expansion of ‘smart speakers’ like Google Home and Amazon Echo. From agricultural software to B2B marketing applications, from robotics to medical care, last year’s achievements shifted the perception of AI from an emerging technology to a maturing market segment. There is no doubt that in 2018 the ‘race for AI‘ will continue to guide startup companies and tech giants alike to push to achieve that next big breakthrough. But, as the focus on AI continues to intensify, one top challenge remains: the already visible shortage of qualified AI talent. To put this into perspective, a 2017 New York Times
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How SaaS Companies Can Compete Under Commoditization

“Well, in our country,” said Alice, still panting a little, “you’d generally get to somewhere else – if you run very fast for a long time, as we’ve been doing.” “A slow sort of country!” said the Queen. “Now, here, you see, it takes all the running you can do, to keep in the same place. If you want to get somewhere else, you must run at least twice as fast as that!” – Lewis Carroll, Through the Looking-Glass and What Alice Found There
Alice and the queenOne of the main challenges facing the leaders of B2B SaaS companies is accelerating commoditization. This is not a bad thing. Commoditization is a sign of success, at least for the industry overall, but it represents a change in phase state for software entrepreneurs. What is a commodity? Basically, a commodity is a successful category – one in which the buyers and sellers
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