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Episode 122: Mastering the Art of Product-Led Growth: Effective Strategies for a Self-Selling Product
46 min •
7 juni 2023
In this episode of Product Thinking, Melissa Perri talks with Wes Bush, CEO of ProductLed. They explore the art of product-led growth and share effective strategies for building a product that sells itself.
Wes Bush is the renowned author of "Product-Led Growth: How To Build a Product That Sells Itself." He asserts that, over the past several years, the way we buy software has undergone a transformative shift. Businesses must lead with their product and allow potential customers to experience its value firsthand.
Product-Led Growth provides the framework for businesses to adapt to this new era of customer-driven decision-making. It's not just a trend or buzzword but an actionable business strategy that enables companies to succeed in this new business landscape. With Wes Bush's guidance and expertise, businesses can learn to build products that sell themselves and position themselves for long-term success.
You’ll hear Melissa and Wes talk about:
- Product-led growth as a strategy where the product serves as the primary means of acquiring, engaging, retaining, and monetizing users. In this approach, every part of the business leverages the product to achieve its objectives.
- When it comes to monetization, the key precursor is building a product that can sell itself. This can be achieved by providing users with a super valuable experience that enables them to derive value on their own. In many cases, this leads to users wanting more of the product and being willing to upgrade.
- In fact, in self-serve apps, this product-led monetization is quite common. To facilitate this process, it's important to minimize any friction in the user's experience, ensuring a smooth and seamless transition toward the monetization stage.
- There is a common misconception that a product-led approach requires a fully self-serve experience from the very beginning. However, this belief is not entirely accurate. The key idea behind a product-led strategy is to make it easy for potential customers to recognize the value of your product with minimal hurdles.
- There is a common misunderstanding about the complexity involved in product-led growth. Some people assume that it's simply a matter of offering free trials and giving newcomers access to everything on your platform. However, this oversimplification overlooks the nuances of the approach.
- Rather than focusing solely on these tactics, the key is to emphasize the rapid demonstration of your product's value to users. By encouraging users to engage with your product as quickly and effectively as possible, you can facilitate its adoption and promote sustainable growth.
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Previous guests include: Shruti Patel of US Bank, Steve Wilson of Contrast Security, Bethany Lyons of KAWA Analytics, Tanya Johnson Chief Product Officer at Auror, Tom Eisenmann of Harvard Business School, Stephanie Leue of Doodle, Jason Fried of 37signals, Hubert Palan of Productboard, Blake Samic of Stripe and Uber, Quincy Hunte of Amazon Web Services
Check out our Top 3 episodes:
Check out our Top 3 episodes:
- Episode 177: The Evolution of User Research: A Conversation with Steve Portigal, Author of Interviewing Users
- Tackling Product Research with C. Todd Lombardo
- Episode 128: Scaling Product Operations with Blake Samic, Former Global Head of Product Operations at Stripe and Uber
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