What is Product Led Growth (PLG)?
"Product-led growth is a business strategy that relies on using your product as the main vehicle to acquire, activate, and retain customers." — Wes Bush, author of the book Product-Led Growth
Some great examples of such products are — Zoom, Dropbox, Slack, and Netflix. For none of these products will you ever have to talk to a "human" to purchase and use their service/subscription.
Why adopt Product Led Growth (PLG)?
One of the reasons to adopt Product Led Growth is driven by the market — nearly 75% of B2B buyers say they'd prefer to buy online instead of through a salesperson. This means that product experiences have become an essential part of the buying process.
But importantly, it has great benefits for any company adopting PLG, especially the early-stage startups who are yet to mark their presence in the market. The benefits include:
- It's an opportunity to taste the real market from day 1
- You can run agile growth experiments and learn much faster than traditional sales
- Significantly lower cost of acquiring customers (CAC)
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