SaaStr's growth secret inside ??

Hey folks,?

So I went to SaaStr this week with a part of our Customer Success team (see photographic evidence below!) and there were a few insights that I really wanted to share with you:?

First of all - I was wrong.?

At least?according to Jason Lemkin?-?there's no recession!?

There's just market correction on the "unicorns" with insanely inflated valuations that had no roots in reality...or revenue.?

Meanwhile, solid B2B SaaS companies continued to grow like crazy. This is Asana for example:?

67% revenue growth, anyone?!?

So if you have some cash to spare this year, the best way to spend it is....drumroll...

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There wasn't a *single* presentation that didn't mention this trend?

Ok ok I know - I'm repeating myself. You've been hearing it from me?ad nauseam, but if you had come to SaaStr - you'd have heared it from everyone!?

Three letters:?PLG.?

Now, let me explain why Product-Led Growth is more than just a catchphrase:?

According to McKinsey (from November 2021) 65% of B2B Decision Makers prefer self-service, and 35% are willing to spend over $500k (!) via digital-self serve (up 27% from March to November 2021!!!). If 2/3 people are happy to swipe half a million dollars on their card now, what’s your excuse for forcing people to “contact sales”??

?The Head of B2B SaaS EMEA at Meta also brought up the stunning growth in demand for self-serve product-led SaaS on Facebook and Instagram, vs. a flatline demand for sales-led software:?

"But building Product-Led Experiences is difficult and expensive!"?

Trust me - parties and exhibition booths with fancy swag bags are *A LOT* more expensive *and* difficult to execute.

And yet - at SaaStr - I saw plenty of SaaScompanies that did the former, but refused to create proper in-app onboarding or self-serve support experiences in app.?

Call me a FOMO-monger - but these companies will miss out on huge growth potential.?

And for no reason really - there are plenty of tools that allow you to execute your Product-Led Growth strategy *super* easily and without code. Tools like Userpilot cost a fraction of a single conference booth. Onboarding experiences have a significant and direct impact on user activation and retention - so the ROI on spending $5000 per year on a tool like that vs. $15,000 on a conference booth is significantly higher. There's just no excuse for not implementing PLG now.?

So what are you waiting for??Book a demo with us, or if you need help with your PLG strategy first -?talk to me directly.?

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Need help with your PLG strategy??

Here's?a post you *must*?read on how to build your entire onboarding process:

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TL;DR??

• SaaS onboarding?funnels are a repeatable process or series of steps that takes people from entirely new customers to experienced users getting consistent value from your SaaS company.
• It’s important to map and improve your conversion rate because it’s the primary metric that tells you how successful your?onboarding process?is.
• Start with mapping the customer journey. This will help you understand the end-to-end onboarding process, identify areas of?friction, work out how to engineer?Aha moments, and help?drive activation?for new customers.
• Next, you’ll want to analyze how your onboarding funnel is working. That means defining clear goals and?measuring progress?against them (making sure to consider both hard numbers and customer sentiment).
• Once you’ve built an understanding of the ‘as-is’, you can take steps to improve your onboarding process and customer retention. Start by targeting areas of the flow with the most friction: can they be completely removed (or at least simplified)?
• You can also use?in-app guidance?to help convert users. Make sure you also give users the chance to solve their own problems: offering self-service support is a must in any onboarding process.
• Finally, you want to pick the right tools for the job. A whiteboarding tool like Miro is great for mapping and understanding your customer journey.
• Userpilot?is second to none for analyzing how your funnels are performing against goals and offering easy-to-deploy ways to improve the?onboarding experience.

See you next week!