Product-led Growth: Are You an Adopter or an Imposter?
This article is part of the Crunchbase Community Contributor Series. The author is an expert in their field and a Crunchbase user. We are honored to feature and promote their contribution on the Crunchbase blog.
Please note that the author is not employed by Crunchbase and the opinions expressed in this article do not necessarily reflect official views or opinions of Crunchbase, Inc.
Product-led growth (PLG) is officially the software trend of 2021. PLG is an end user-focused growth model that relies on the product itself as the primary driver of customer acquisition, conversion and expansion. Think about how you discovered tools like Calendly, Twilio and Zoom. Was sales involved? Probably not for a bit, but did you get a lot of value before being asked to pay? Absolutely. That’s the product taking on some of the heavy lifting for sales and marketing—aka PLG.
Like any trend, there are going to be early adopters, and there will be imposters – those who claim to be following a PLG model but are lacking specific operational requirements. COVID-19 forced SaaS companies to rethink their approach to go-to-market strategy, and many of them decided to introduce product-led tactics like free products or free trials. But adopters can be imposters and not even know it. There is still work to do and it can help to know the signs of a PLG imposter.
Sign #1: Your pricing isn’t transparent
Product-led businesses give away a little bit of value to all users (Read more...)