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STARTING A NEW VENTURE / PRODUCT

Designing a new product via Product-led Growth (PLG) Methodology

PLG Philosophy and Approach

PLG is about turning your company into a growth engine. To achieve that, you will have to tick many boxes, including:

  1. Identifying the target persona properly and looking beyond the demographics.
  2. Creating a seamless onboarding process (and customer success manifesto)
  3. Shaping the principles of a customer success manifesto
  4. Incorporating an effective pricing structure
  5. Shaping a great FTE (First Time Experience)
  6. Capturing data that will allow us to: 
    1. Identify user’s behavior
    2. Nurture customers based on the above
    3. Prevent customer churn
    4. Capture conversions from the sales funnel
  7. Calculating the NPS (Net Promoter Score) and taking into account customers’ feedback
  8. Addressing the real activation channel

What You Have To Get Right in v1 vs. What Can Be Iterated Over Time

We believe that MVP doesn’t stand for “Minimum Viable product” but for “Most Valuable Product”.

Accordingly, the most important thing is the set of features we will NOT include in v1 as well as the roadmap for the next versions. V1 is not about having many features. It’s mostly about having the features that will satisfy the right marketing persona.

Only by keep in mind the marketing persona will we have selected the features that will satisfy them. Simple as that.

Design of Product vs Design of Experience vs Sufficient Marketing

  • 20% design of  Product (features + Technology)
  • 30% design of Experience (“aha” moments, value, FTE)
  • 50% support and marketing (technical events, nurturing, activating users, feedback loops). When you know how users are engaged, your product will manage to satisfy them. You cannot fix, things you have no idea about

Is Your SaaS Product a Good Fit for PLG?

All SaaS are good fit for PLG. Especially the ones with:

  • Low ticket value (low price)
  • An embedded viral approach
  • Addressing a big target audience and not a niche
  • Addressing the B2SB market (mass market in terms of volumes, yet b2b)
  • A product with a technology that allows the product to be integrated into the existing infrastructure of the customer
  • A product with the ability to facilitate the b2b towards a b2b2c approach (so that the b2b side will have to do less of an effort to acquire users)

Ready to put your product as your basis of your growth?

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