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Product-led growth is a go-to-market strategy that relies on a product itself to drive acquisition, expansion and conversion of a business.<\/span><\/p>\n In the contemporary business world, one of the most important things is to learn how to keep your company afloat. It\u2019s not enough to just have an interesting idea, product, or solution. It is very important for the product to have a high market value.<\/span><\/p>\n This may sound like a piece of cake but is not. Companies are using many strategies to succeed in this. One of the go-to-market strategies that companies are using very often nowadays is a product-led growth strategy.<\/span><\/p>\n Product-led growth is a bottom-up approach that speaks directly to the needs of end-users. It is a go-to-market strategy that uses a product as the main wheel that acquires leads and contributes to the company’s growth. It helps the company retain customers. This strategy easily converts leads into paying customers.\u00a0<\/span><\/p>\n Benefits that product-led growth provides for the company are:\u00a0<\/span><\/p>\n <\/p>\n <\/p>\n In the interest of explaining how product-led growth works in practice, let\u2019s take a look at some of the product-led companies.\u00a0<\/span><\/p>\n We have all heard of Zoom, Slack, Dropbox, Hubspot, Pinterest, Zapier, Atlassian, Typeform, and Grammarly. Most of us have probably used some of their services and are continuing to do so. Services that we are talking about are actually their products.\u00a0<\/span><\/p>\n The fact is that these companies are worldwide known just because of the value that their product delivers. Most of us probably do not even perceive these companies as a company, but we perceive and experience them as a product.\u00a0<\/span><\/p>\n We have all started to use them without reading a whitepaper or any blog about their benefits beforehand. We built our relationship based on trust, on a word of mouth. That is nothing strange or new. It is known that one of the benefits that product-led growth provides is user experience, and that is the most valid reference.\u00a0<\/span><\/p>\n Furthermore, besides only using these products, we want to be part of their growth, to be a part of the growth of these companies in some way.\u00a0<\/span><\/p>\n The companies mentioned above are the best examples of product-led companies. What they share among each other and what is common for each of them are the core values of product-led growth.<\/span><\/p>\n <\/p>\n The uniqueness of product-led growth is that when creating a product everyone is included in the process. Each team has a say in product development, they are just answering different questions. The company creates customer value by allowing different teams to participate in a creative process and share their insights on a product that is about to be created.<\/span><\/p>\n Besides, product-led companies involve a product team in business and this is what makes it possible for them to create a seamless customer experience. Every team has to leverage products, which makes product-led companies quite exceptional.\u00a0<\/span><\/p>\n In order to become a product lead company a company has to undergo two transformations:\u00a0<\/span><\/p>\n <\/p>\n <\/p>\n It is apparent that the secret of success of product-led companies is that they let the product speak for itself and they trust their customers by giving them the keys to unlock all the possibilities that the product holds. After doing this the product sells itself.<\/span><\/p>\n Even though it is very cheap to build a startup company, it is very difficult to grow it and to beat the competition which is big and expanding every day. In addition, companies are struggling to grow leads and convert them into paying customers, so marketing costs can be very high.\u00a0<\/span><\/p>\n Fortunately, with a product-led growth strategy, there are no difficulties in growing leads and converting them into paying customers. Here are the secrets of product-led growth:<\/span><\/p>\n <\/p>\n <\/p>\n In addition to product-led growth as one of the go-to-market (GTM) strategies, there are also marketing-led and sales-led growths.<\/span><\/p>\n <\/p>\n It is clear that in order to position your business for success you would need to choose the right GTM strategy. This means that you have to specify how you\u2019ll reach target customers and achieve a competitive advantage.<\/span><\/p>\n Before doing this you would need to understand market conditions, competitive positioning, ideal customer, and product offering. Once you learn all this, it will be easy to choose your go-to-market strategy. The right strategy will easily acquire, retain and grow customers.\u00a0\u00a0\u00a0<\/span><\/p>\n\n
Product-led companies<\/strong><\/h2>\n
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Secrets of a product-led growth success<\/strong>\u00a0<\/span><\/h2>\n
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Hitting the market<\/strong><\/h2>\n