The Right Tips to Build Your Business "Growth" Through Product Development

There are many ways to attract and convince people to buy your product. One of them is getting people to try your product right away for free.

Like method freemium or free trial which is commonly used by well-known digital companies as a strategy to attract many users. Both, it turns out, are part of the trend adaptation approach product-led growth popular since 2020. Strategy is claimed to be the future of business strategy to develop.

Product-led growth (PLG) itself is a method of centralizing products as the main driver for acquiring, activating, and managing users (user). This strategy focuses on end-user directly by trimming the long steps that companies usually do with the method marketing-led/sales-led growth.

A number of well-known brands have taken advantage of the strategy product-led growth

Focus on accelerating the delivery of product value, a version of the 'try-before-you-buy' like freemium and free trial this makes it easier for users so that they can immediately experience the benefits and all the features of the product as long as they want and experience firsthand how the product turns out to be able to solve their problems easily.

Accumulation of experience This direct and continuous process then ideally makes users interested in deciding to purchase the product or continue to use the product as a solution to their problems.

This is in line with a survey from Forrester that said, 75% of B2Bs are inclined to vote self-serve model. 3 out of every 4 B2B buyers prefer self-educate versus learning about the product from the company's sales team.

Strategy product-led growth We can see this from well-known foreign brands working in the digital-based industry cloud as teleconference as well as design online. Their product is widely adopted by users because it is easy to use and moreover it has feature options without paying.

In the end, business brands This large is growing rapidly with little money spent on marketing (marketing-led growth). Their product is marketed by itself from word of mouth of satisfied 'free' users.

Strategy building tips product-led growth

Implement product-led growth has great benefits, such as expanding user reach, increasing customer satisfaction, and reducing user acquisition costs.

As for tips in building product-led growth as follows:

1. Make customer experience The first

When make products, the vision that must be built is how the product provides the best experience for those who use it. Based on research conducted by PwC, 73% of consumers said customer experience is an essential factor in making purchasing decisions.

2. Master road map product

After having a vision that focuses on user experience, the next step is to create a product roadmap as a guide for users founder themselves and the product team on what to do to make the goals or programs that they are trying to build a success, succeed.

3. Focus on adoption and user/customer engagement

Creating a product with all the advanced features is not enough. The product you create must be attractive and help users to continue using your product. One way is to introduce and guide your users to optimize other product features that have not been explored such as features guides.

4. Always develop the product

Always develop products according to user needs. This method means that your company always cares and tries to provide the best solution. What's more, it can foster user loyalty.

5. Strengthen strategy with data

Wanting to make a product that is good and liked by many people means that you need data on the behavior of the users of your target market. You can ask feedback directly from the user or view the data tracking when a user tries your product.

For example, why feature A is used less than feature B. From this data you can make a decision which one to improve and continue to develop. Try to start to explore what problems are being faced from the data and find solutions.

Looks easy, but executes the strategy product-led growth also requires a deeper understanding of both founder nor product manager. Learning to understand directly from professional practitioners can be one of the answers.

Accommodating this, DailySocial will thoroughly explore the strategy product-led growth on Tuesday, January 18, 2022 in the #TuesdayStartup webinar with the topic “Growth Webinar: Building for Product-Led Growth. "

This online event will later explain product-led growth in greater depth along with various tips and best practices directly from Amplitude, a pioneer company in the field of digital optimisation and Robert Tan, VP of Pluang and Dhiku Hadikusuma Wahab, Chief Product Officer of Vidio.

Start “growth” your business through product development now. Sign up for #TuesdayStartup via this link.