Product-Led Growth Certificate™ Exam
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- Identify Your MOAT
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Name
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Email
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What is the best definition of Product-Led Growth?
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Product-Led Growth is when your sales team sells your product with a heavy markup.
Product-Led Growth is a go-to-market strategy that relies on using your product as the main vehicle to acquire, activate, and retain customers.
Product-Led Growth is a way for you to sell without a sales team.
Product-Led Growth is simply a free trial or freemium model.
What are the main benefits of Product-Led Growth?
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A shorter sales cycle
A wider top-of-funnel
A capital efficient way of growing
A significantly lower customer acquisition cost (CAC) than their competitors
What consumer trends are driving product-led growth?
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People have bought products that fail to deliver on their expectations and need to “try before they buy”
People are more comfortable than ever before using software on their own.
People are tired of “jumping hoops” in a sales process in order to see if a product is a good fit for their organization.
What type of marketing approach does a product-led go-to-market strategy typically employ?
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Bottom up (targets users)
Top down (targets buyers)
Can a company use both a free trial and freemium approach at the same time?
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Yes
No
What market strategy focuses on attracting underserved customers (i.e. a real estate CRM vs HubSpot)?
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Differentiated
Disruptive
Dominant
Discrete
What market strategy focuses on attracting overserved customers (i.e. Canva vs Photoshop)?
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Discrete
Dominant
Disruptive
Differentiated
How do Marketing Qualified Leads (MQLs) breed misalignment in a team?
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Marketers are incentivized to gate all content in order to hit their marketing goals
Marketing is focused on generating leads vs helping potential customers
Lead scoring is often based on arbitrary factors, such as page views
What is the main reason why someone will purchase your product?
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Emotional: how customers felt as a result of executing on the functional job
Functional: the core task that someone wants to get done
Social: how customers want to be perceived by others by using your product
Why should you segment in the first place?
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You will attract the right kind of customer.
You will be able to turn away potential customers that are not a good fit for your business.
You will be able to acquire new customers more efficiently.
What one thing must you do when doing customer interviews?
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Record the call.
Ask the customer how their family is doing.
Sing for them to make them happy.
Start with small chat.
What is more valuable to look for when researching why your customers buy your product?
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Causation
Correlation
Part 2: Why is that the case?
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When should you stop interviewing new customers?
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After 10 interviews
100 interviews, if possible.
After 5 interviews
Once you start hearing the same thing over and over.
What are some other common names for an “aha moment?"
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Moment of Value
Wow Moment
Strike
Why do the majority of new users never come back after signing up?
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The perceived value doesn’t line up with the experienced value
Friction
A value gap
How can you identify your aha moment?
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Look for patterns in the data
Shortlist a list of potential triggers and test
Talk to actual users
What is the main goal of user onboarding?
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To help someone become adept at experiencing the core outcome your product solves.
To increase the motivation of a user so that they’re more likely to learn how to use your product.
To help someone become a power user.
To create a pretty looking way for people to learn how to use your product.
When does user onboarding start?
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Billboard posters
When they talk with your customer success representative
In the product
The first interaction someone has with your brand
Does user onboarding end after a user has achieved an aha moment?
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Yes
No
What are some of the main product bumpers we can use to guide users throughout our product?
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Empty states
Product tours
Tooltips
Directional cues
Checklists
What are some conversational bumpers we can use to bring people back into our product?
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Lifecycle Emails
Paid advertisements
The telephone
SMS
Your onboarding should be...
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Just-in-time (help them with what they need, when they need it)
Just-in-case (give them all the resources they might need right from the beginning)
To get a new user to experience the core value of your product, what do they need in ample quantity?
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Ability to use your product
Triggers
Motivation
Once a user has signed up, what should our main focus be?
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Sell them on your product
Send the user all the content you’ve published that you think will be relevant to them
Welcome them to the product.
Get users to a quick win
Once a user has experienced the value of your product, what decision do you need to help them make?
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Help them become a returning user that eventually becomes a product qualified lead (PQL)
Upgrade and continue experiencing the value of the product
Welcome them to the product.
Send the user all the content you’ve published that you think will be relevant to them
What are the main benefits of using Product Qualified Leads (PQLs)?
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PQLs require the user to experience a core aha moment in the product.
You never have to talk to the user, ever.
Your product qualifies the user for you.
What percentage of users typically never come back to SaaS products after the first visit?
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10-20%
20-40%
40-60%
60-80%
80-99%
What’s the best definition of a value metric?
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A value metric is the way you measure value exchange in your product.
It’s a way to quantify value (i.e. per user)
It’s a way to price goods and services.
What are examples of a value metric?
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Per contact: ActiveCampaign
Per pair of shoes
Percentage of sales: Stripe
Per person: Slack
Why are value metrics important?
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It allows potential customers to quickly identify how much they will be charged
They provide a simple way for us to charge based on value.
They’re only important for sales-led companies
What are some of the biggest fundamental differences between sales-led and product-led marketing teams?
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MQLs vs PQLs
Bottom-up vs top-down marketing approach
The main call-to-action is often to get started vs sign up for a demo
How does a sales team operate differently in a product-led vs a sales-led organization?
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Less challenger sales model, more technical
Focuses less on value-based selling if the business is using value metrics
There are no sales teams in product-led organizations
How does a support team operate differently in a product-led vs a sales-led organization?
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Tickets are used to improve the product experience
Proactive vs reactive
They're focused on hand-holding every user and helping them successfully set up their account
How does a product team operate differently in a product-led vs a sales-led organization?
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Features can be thought of as growth levers
Works with all teams to help utilize the product to hit their goals
Is seen as a profit center and not a cost center in the organization
Your users success eventually becomes your success.
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True
False
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