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ProductCafe Newsletter #44: Product Led Growth (PLG) For Established Software Companies
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Good Evening Readers!☕️
Welcome to another week of the ProductCafe newsletter.
Get your hands on some fantastic updates on Product Management, Startups, upcoming product events, etc., freshly curated by us.
Our Top Pick this week ⚡
Product Led Growth (PLG) For Established Software Companies
The main concept under discussion in this article is the use of PLG in established software companies that haven’t built themselves up around PLG from the beginning. Popularized by consumer SaaS companies like Evernote and Dropbox, with roots that go back to the shareware movement of the 80’s and 90’s, PLG is ever-more relevant in B2B SaaS.
Product Good reads 📚
Key Product Led Growth (PLG) measures and benchmarks for K12 B2B edtech companies
There are lots of good reasons to adopt a PLG model. For one, it beats the traditional slog of top-down enterprise sales. It also enables your startup to reach more users faster and realize the impact you want to achieve with your edtech startup. Another reason to pursue PLG is that research shows that companies with product-led growth outperform traditional enterprise sales companies, especially as they grow in size.
The Beating Heart of PLG
What is the implication for PLG founders? It is that an emerging emotional connection between the user and the product is the beating heart of PLG.
You can always feel when product/market fit isn’t happening. The customers aren’t quite getting value out of the product, word of mouth isn’t spreading, usage isn’t growing that fast, press reviews are kind of “blah”, the sales cycle takes too long, and lots of deals never close.
Organic viral growth loops, activation & conversion hacks, account expansion drivers are all wonderful and necessary, but imagine their impact in the world when you have touched your users so deeply that they go out of the way to champion your creation to the world. Such growth would be truly product-led, it would be unstoppable, enduring, beautiful, a rare pleasure to witness.
Startup Story 🚀
ProductWind raises $1.67M to connect your brand with hundreds of influencers
ProductWind aims to connect brands with influencers in one click. The company is building a platform to enable brands to launch influencer marketing campaigns. Today, it announced $1.67 million in seed funding led by Early Light Ventures.
“We want brands to come in and have 100 or 200 influencers working with them,” he said. “Before, you might go on a platform and sort through a list of influencers and find them, but not know who would drive sales the best. It was mostly at the top of the funnel rather than the bottom.”
Tweet-worthy Tweets 🐦
Quote of the week ✨
Every Saturday we send you a collection of the best product management content on the internet curated by our team. We hope this week’s dose helped you get some insights into the world of product.
It’s the weekend, Mankind! Time to rescue some wine trapped in a bottle 🍷
Until next weekend,
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