Product-Led Growth for Your SaaS and B2B Business: A Strategy that Thwarts Traditional Growth Models

Marketing your product needs some intelligent and witty ways that drive customers towards it. The traditional strategies seem to fail in this fast-growing market and merchants have to come up with purpose-driven marketing strategies.

Recently, SaaS and B2B businesses have taken a shift towards product-led growth that is improving customer acquisition, customer retention, and customer lifetime value. The results of the product-led growth are astonishing as merchants and sales teams do not have to divert all the focus towards the perspective of sales but towards establishing their product and using it as their marketing tool.

In this article, we are going to look in detail at product-led growth and some factors that it takes into account.

What is Product-led Growth?

Product-led growth is a growth marketing strategy that used the product as the center of the marketing strategy and drives potential customer attention using the product. unlike sales-led growth, the product lies at the crux of the marketing strategies.

In product-led growth, most of the foals of a business’s success such as higher customer retention customer acquisition, etc. lie on the part of the product; growing business through product marketing.

Tactics Used In Product-Led Growth

In product-led growth, there are certain strategies to acquire new customers, carry out the onboarding process, and retain customers. Those few tactics are as below:

  • Free trials
  • On-demand training
  • Interactive guides
  • In-depth knowledge bases
  • Community groups and user forums

Taking over Sales Led Growth – A Traditional Strategy

In recent times, it has been investigated that the product-led growth strategy is taking over the sales-led growth strategy. The results are staggering for the fact that product-led marketing has proven to be more effective as compared to sales-led growth because customers are more inclined towards using the product whether through SaaS free trials or freemiums, or any other way.

Product-led growth strategy is not limited to the free trial or freemiums only it also entails improvising your product, adding new features, and upgrading the product – hence improving the value and usability of the product.

Improvising your Product with New Features

By improvising the product, merchants add features and solutions to their products that help customers by giving them the results and value they look for. We often see products or businesses that keep on adding new features and new solutions to their business. it is because they understand the increasing needs of customers. this helps businesses and merchants in improving the customer experience (CX) and increase customer retention leading to an increase in revenue potential.

New features and product improvisation are essential for your product-led growth strategy, keep on improving the product that increases its value of the product in the eyes of your customers and target audience. When customers know that the product is adding new features, and upgrading to the needs of customers, it will boost customer retention rate as well.

Deliver Product with Value

Customers look for value in the products that will ‘benefit’ them or their business. In B2B markets and businesses, the product value is the main property since B2B merchants manage their business on an enterprise level.

As you enable your customers to use your product and get a first-hand experience, it is important to determine the value that your product will deliver to your customers. It will boost product-led growth for the business.

Prerequisites for Product-led Growth

The sales-led marketing strategy is limited to the sales representative, explaining features, and solutions to the audience interested in the product. However, in product-led growth, the case is entirely the opposite.

Product-led growth strategy invited customers or the target audience to use the product and explore the product’s features and solutions by themselves i.e. getting a first-hand experience. When it comes to customers using the product by themselves, there are certain prerequisites for signing on to the product. Below are a few of the pre-requisite for product-led growth. Let’s have a look at them.

Self-sign Up

Enable your customers to explore the product using the self-sign-up feature without any obstacles. With the self-sign-up feature of the product, you will make your customers or trial users to be self-dependent on using the product and its features. Customers now do not want to wait for self reps rather they want to get started as soon as they can. For this, you can add a single sign-on (SSO) portal for your product.

Free Trials

Free trials and freemiums are one of the most useful strategies when it comes to making your product-led growth strategy and marketing. You can enable free trials for your product so that customers can explore the value of the product by using features and solutions of the product for a limited period. For freemiums, you can select what features you want to add to the freemium model and what is in the paid version.

Self-service Customer Portal

Customers are wising up and they do not want to wait for hours for their support tickets. This is why businesses have started to launch self-service customer portals in their business so that customers can access the information without waiting for the support or customer success team. SubscriptionFlow provides a self-service customer portal through which merchants can handle the self-service portal of their customers while enabling the customers to manage their accounts seamlessly.

In the self-service portal, you can look up the following features such as:

  • On-demand training modules
  • Interactive guides
  • In-depth knowledge bases
  • Community groups and user forums
  • Detailed product documentation for users

Get your product-led growth with SubscriptionFlow

SubscriptionFlow is a subscription management platform that renders its solutions and features for B2B and SaaS businesses. We offer a self-service customer portal, a single sign-on portal for businesses, adding new features to the product, improvising the product, and much more.

Schedule a demo with us now and enable the product-led growth marketing of your business.