November 29, 2023

Product-Led Growth Strategies: Are Customers Your Forgotten Product Manager?

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Product-led growth is a hot topic these days. Product-led organizations desire a deeper connection with their customers and users. They attempt to understand their problems and anticipate what the customer wants.
Let's take a look at product-led growth strategies.
“Product-led growth means that every team in your business influences the product,” says Wes Bush, author of "Product-Led Growth: How to Build a Product That Sells Itself."
Consider your traditional sales-led growth model that consistently needs more: more business development reps to cold call prospective customers, more salespeople to demo to them, and more marketing budgets to generate the leads to fill the funnel.
Instead, product-led growth strategies rely on the product to drive customer acquisition, activation, retention and expansion. Regardless of if a company uses a free trial or a freemium product to drive sales, product-led growth companies always focus on one thing: the end user.
Product-Led Growth Strategies: It’s All About Adoption
Customers have come to expect a frictionless product experience. They don’t want to contact a salesperson to upgrade or purchase. They want a seamless experience driven by the product.
In product-led growth strategies, users need to get value from a product as quickly as possible, because it’s the customer onboarding experience that will convince them to activate or continue beyond a free trial period.
However, with many products, it can be challenging for customers to set up teams on a new platform or access the features necessary to accomplish their goals. That’s where customer success comes in.
Customer onboarding can make the difference between a customer successfully adopting your product the first time they use it, or churning before they realize the value your product you can deliver.
Marrying Qualitative and Quantitative Feedback
It used to be that all we needed to design a good product was gut instinct. But now, we must get as close to our customers as possible. And that means one thing: obsessing over data.
By aligning customer feedback with product data, product managers can make data-driven decisions about product development and improvement.
But quantitative data only goes so far, and that’s where customer success comes in. Customer success teams can help drive product-led growth with their understanding of the customer and their needs.
3 Ways to More Empathetic Understanding of Customers
Here are three ways customer success teams can help the product team supplement their quantitative feedback with a more empathetic understanding of the customer:
-Bring customer experience tools to the table: One of the most important things that product management and customer success teams can do is to develop a shared understanding of the customer. This includes understanding the customer's needs, preferences, pain points and goals.
-Get a deeper understanding of how customers use the product: Customer success teams are in regular contact with customers and can provide valuable feedback on product features and functionality. Product management teams can use this feedback to develop products that meet customer needs.
-Tap into your most passionate customers: Your CSMs know who your “power users” or brand evangelists are. They can help you close the feedback loop with these high-value customers, building greater loyalty and fueling their passion for your product.

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