Companies are able to expand with efficiency using the product-led growth (PLG) strategy. In a PLG model, the product is the main vehicle for acquiring, retaining, and expanding customers, and these end-users are now in the driver’s seat. This means the road to success is paved by the experience your product provides. 

The PLG strategy sets new standards and expectations for companies based on customers’ wants and needs. Consider a PLG model for your company as you strive to meet the following characteristics: 

Your product offers a fast, unique, and effective solution.

It is crucial to think about how your product can not only become a leader in conversations but also garner positive experiences for your customers. The focus should be on real people, with real problems so you can promote active solutions that help customers achieve daily tasks. In today’s world, there is no shortage of companies creating products. That means there is a lot of competition out there, and customers have no problem ditching your product if they can get a faster, more efficient solution to their problem somewhere else.

The user quickly realizes the benefit of the product.

People want immediate gratification and will give up quickly if a product is more work than help. So, meet users where they work. A customer should be able to understand and integrate your product into an existing workflow without any major hurdles. Your product should deliver real value that has strong viral potential, and continue to bring value to its users.

Your product is flexible and customizable.

Your product needs to provide metrics that allow you to adapt to user behavior to provide continuous added value. Customers want their lives to be as easy as possible, so it is important to continue innovating and adapting. Enabling users to get creative and adjust the product to benefit how they work, will prompt continued internal optimization of your product and provide limitless growth opportunities.

Develop a strong user community.

Connect with your users, but also provide an environment and positive experience that will prompt users to build their own communities within their workforce through self-serving promotion. This free promotion of your product is a highly effective way of getting additional users to adopt your product. They have a foundation of trust with their peers and fellow co-workers that translates to the product and fosters long-term, loyal relationships. As more and more people test out and use your product, it becomes essential to run those users’ businesses.

Monetize after you deliver value.

Be strategic with your pricing and how you present high-value features. Users need to trust that it will benefit them and improve their workflow before they pay. Being flexible with pricing and basing it on usage will also make it easier to scale.

PLG creates happier, more satisfied customers, who in turn become promoters for your product. This cycle both benefits your business and the customers as it pushes constant innovation and optimization for your product. 

If you’re looking to take your business performance to the next level, contact Bluetext.

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