Why I Wrote the Book On Product Led Growth


This post is by Wes Bush from Openview Labs


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Editor’s Note: This article covers one chapter from the book on “Product-Led Growth: How to Build a Product That Sells Itself” written by Wes Bush, founder of Product-Led Institute. History tells us that “how” you sell is just as important as “what” you sell. Just like Blockbuster couldn’t compete with Netflix by selling the same digital content, you need to decide “when,” not “if,” you’ll need to innovate on the way you sell. One of the main reasons I decided to write the book on product led growth was because I witnessed first-hand the power of Product Led Growth. It all started in a cold, gusty winter in Waterloo, Ontario (a.k.a. the tech capital of Canada). In one cozy loft, over 50 hard workers plugged away on their laptops side-by-side on long plywood tables. Everyone was passionate about video. Inside this startup, it was common for
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Beginner’s Guide to Product Qualified Leads (PQLs)


This post is by Wes Bush from Openview Labs


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Editor’s Note: This article was first published on Traffic is Currency’s blog here A product qualified lead (PQL) is a lead who has experienced meaningful value using your product through a free trial or freemium model.

As a result, PQLs are more likely to become a customer than other leads. Unlike Marketing Qualified Leads (MQLs) which base buying intent on arbitrary factors like email opens, whitepaper downloads, and webpage visits, PQLs are tied to meaningful value.

When you reach out to a PQL, they should have already experienced meaningful value in your product. This makes the sale easier because there’s no need to sell the user on the value of the product. If you still need a little more explanation on what a PQL is, I created a short video on the topic below:

Before we dive into how to identify a PQL, I wanted to take a second
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Customer-Driven Pricing with Logikcull’s CEO [Podcast]


This post is by Kyle Poyar from Openview Labs


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Andy Wilson is the Founder & CEO of Logikcull, a legal tech startup that’s revolutionizing how lawyers handle document discovery. In this episode, Andy explains why they pivoted from an annual subscription model to pay as you go and the implications this had on the business as a whole (spoiler: it changed everything). He also dives into how their mission drives decision-making and what they’ve done to help their customers have an amazing experience. Prefer to listen on iTunes? Listen here.
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Product-led Companies – Why and How They Work


This post is by Hiten Shah from Openview Labs


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Product led growth (PLG) is a term that has become pretty mainstream in SaaS circles, but some companies still miss out on the full potential of the concept because they think of it more as a pricing model or maybe a variation on the bottoms-up growth concept. Product led growth is related to those things, but it’s also much more. It’s about product being the core DNA of your company, so much so that the default mode for solving problems—including growth challenges—is to figure out how to use the product to address whatever issue is at hand. PLG has far-reaching applications across a wide range of product types. It’s inevitable that it will eventually spread across all categories. It’s an attractive model for all kinds of businesses because being able to drive growth through product usage is really critical if you want to lower your customer acquisition costs and increase
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It’s a Rough Time to Be a Startup – Here’s What You Can Do About It


This post is by Kyle Poyar from Openview Labs


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SaaS is now ubiquitous. Salesforce, which turned 20 in March, surpassed $13 billion in annual revenue this year. Everywhere you look there are dominant SaaS companies with thriving products. That’s certainly true in developer tooling (AWS), sales and support (Salesforce), MarTech (Adobe), commerce (Square), HR tech (Workday) and even vertical markets (Veeva). This begs the question: how much room is left for emerging startups? Benchmarking data shows that it’s harder than ever for new SaaS companies to gain initial traction and reach the expansion stage. More and more startups are vying for traction against extremely well capitalized SaaS powerhouses. Not surprisingly, most struggle to break through. The median growth rate of startups with $1-2.5M in ARR fell from 100% to 64% in just the last year. SaaS companies now report 9 competitors on average, up from just 2 back in 2013. Those on the front lines know that
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Pricing at a PLG Company with Figma’s CCO [Podcast]


This post is by Kyle Poyar from Openview Labs


Click here to view on the original site: Original Post




Amanda Kleha has been involved with pricing at PLG companies like Zendesk and Figma. On this episode, she explains when freemium makes sense in SaaS, the right time to add sales or customer success to a self-service business and the implications of PLG on culture. You’ll also learn why she thinks you should know your leaders, fillers and killers. Prefer to listen on iTunes? Click here.
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Leveraging Data for More Impactful, Relevant Feature Development


This post is by Keith Fenech from Openview Labs


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As a product strategy leader for a screen capture and video editing software business sees it, creating viable features for its software is only half of his team’s job. The other half is helping users connect with the value those features deliver. “If users don’t discover that value or fail to take advantage of it, we’ve failed.” On the surface, most software providers would say that they prioritize connecting with their customers. But in practice, they really don’t. Numbers play out that reality. According to the Pragmatic Marketing’s 2018 Product Management and Marketing Survey, product managers spend just 8.5 hours a month talking with customers – compared to 29 hours supporting development, 32 hours managing email and (gulp) 43 hours in meetings. In the pursuit of managing email and meetings, those very important things that are tied to a customer’s success – such as roadmap development, usability
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Lola’s Mike Volpe on Pricing to Win in Competitive Markets [Podcast]


This post is by Kyle Poyar from Openview Labs


Click here to view on the original site: Original Post




Mike Volpe is no stranger to competitive markets. He was part of HubSpot’s founding team, then moved into the world of cybersecurity with Cybereason and is now CEO of Lola.com, a travel management tool. In this episode, he explains the relationship between pricing and brand, his perception of freemium and the importance of looking closely at your happiest customers for growth opportunities. Prefer to listen on iTunes? Click here.
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The Traditional Product Management Method is Broken


This post is by Willie Tran from Openview Labs


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According to the State of Salaries report from Hired, Product Manager (PM) was the highest paid tech role in 2018. And yet, the overwhelming majority of companies aren’t leveraging their product managers to the greatest advantage. In fact, many of these companies have set up a structure in which PM incentives are completely out of alignment with the ultimate goals of the company. This pattern has cropped up again and again in conversations I’ve had with colleagues and other people in my network. It’s a phenomenon I’m personally interested in because of my own experience as a PM. I joined Testlio as Head of Product when the company had fewer than ten employees, and by the time I left they had nearly fifty. When I joined Dropbox as a Growth PM, our team was about a dozen people, but grew to sixty+ in the two-and-a-half years I was there. Today,
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Have Your Cake & Eat It Too [Podcast]


This post is by Kyle Poyar from Openview Labs


Click here to view on the original site: Original Post




We’re kicking off Season 6 by bringing OV Partner, Blake Bartlett, back to discuss the magic of product led growth. Blake breaks down the placement of the paywall, when a freemium model makes sense and the importance of getting specific about your target customer. Find out why PLG means you can have your cake and eat it too. Prefer to listen on iTunes? Click here.
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