How to Thrive in the Product-Led Era
A few years ago, the only go-to-market strategy for software providers was relying on field sales. This approach is still valid for many more complex software solutions that target the enterprise market.
But the majority of SaaS businesses are becoming product-led companies.
This means that the product itself becomes a) the key competitive advantage and b) the distribution channel for your go-to-market strategy.
Basically, instead of relying on marketing or sales to target executives and other decision makers, product-led SaaS businesses target and engage end-users who become internal champions within an organization.
User experience becomes a key differentiator together with the value proposition of your product: the ability to quickly address and solve a specific pain point that the end-user experiences.a
Nowadays, end-users are well-informed and can compare and test multiple solutions. The buying decision happens in the product, not outside of the product.
Barriers to entry need to be extremely low, and users need to be guided step-by-step to results and success. Time to value, engagement, and usage become the most important factors that differentiate winners from losers.
As David Barrett (CEO at Expensify) mentions, “Our users outnumber the buyers 100:1. They are the ones with the power.”
The mantra in the product led-era is engage, convert, retain!
To achieve this goal, your product and your organization must be aligned with the new customer-centric mentality that characterizes successful operations in the product-led era.
Are you on the right track when it comes to creating such an alignment?
Go through our checklist to find out!