Want 7.2% more growth? ??

Hey folks!

For those of you who are still sitting on the fence with?implementing a Product-Led Growth strategy :?Patrick Campbell from Profitwell hit the nail on the head at #SaaStock , as usual:

• Product-led companies?grow on average?7.2% faster than sales-led ones.
• 83% of public companies that reached $100m ARR in the last 5 years used PLG.
• Companies that use?2 different currencies in their checkout?(= pricing localization)?grow 12.7% faster.
• Companies that use?25+ currencies grow 25% faster!
• Adding just 1 alternative payment method (e.g. PayPal, Payoneer etc.) can lead to 21.8% faster growth!
• Different regions have different?Willingness to Pay (WTP)?- your South-East Asian customers are willing to?pay 37.6% less than your US-based customers. Meanwhile, your customers in the Nordics are?willing to pay almost 28% more!?That’s an over 60% difference in the perceived cost of your service!

Now, as you can see from the above: you don't need to change your entire business model and?"do freemium" to benefit from PLG.?

These huge differences in growth rates were in fact caused by simple "hacks" (hi to all the marketers allergic to the word "hacks" in the audience ????)?like introducing multiple currencies or alternative payment methods. Same applies to driving product-led growth through in-app experiences - you don't need a massive overhaul of what you're already doing.?

There are plenty of success stories of companies that made a small change with a large impact:?

• Kommunicate ?improved its users' rate of?chatbot customization from 28% to 41% by implementing just 3 tooltips:?

‘It’s a substantial increase for us?– even if it’s just 5% increase – it then translates into a 2-3% increase in revenue, which has a substantial impact on our MRR’

• GrowthMentor ?reduced their support ticket volume by 83% (!) after implementing?one?onboarding checklist.?
• Kontentino ?improved their activation rate by 10% in one month after implementing?one?interactive walkthrough.?

It's all about applying the "slight edge" principles in your product. You can literally start from just one small change, focused on improving one metric.?

It often takes literally minutes to implement.

Can we put those excuses to bed now, please????

Let's chat? if you need some help brainstorming where to start!

See you next week!?