As a product-led business, you have an unfair advantage over competitors as you have unlimited access to a dominant growth engine and significantly lower CACs. But, it takes an entire team to make the strategy work.
This week, we’ll go over:
Wes Bush:
... product teams, definitely, where it comes to building a product [inaudible 00:00:05] business have a lot of different things. I'll touch on some of the main ones here. Then right after this, I'm going to ask you to really try and dig through what are some of those biggest differences between each of the teams.
Wes Bush:
Product teams, they think of features a lot different than you're a sales led counterpart because features can be thought of as growth levers. I'll give you an example. ConvertKit, they are an email marketing platform. For the longest time, they're really just focused on helping you create amazing emails and campaigns for your subscriber base, but they decided to launch a feature which was a landing page tool.
Wes Bush:
They offered it completely for free. They went into the landing page creation space. There was Unbounce, Insta page, and a bunch of other players. They just said, "Our tool is free. Feel free to use it. If you get leads and you want to email them, yes, we do have a product to help you out with that, but regardless, the product is free." It was a massive growth over for their business by just giving an incredible tool away for free and that was a growth lever for their business.
Wes Bush:
Your self-serve product team might also have revenue targets internally. As we make this transition from more of sales led to product led, it's only natural that your product team has some skin in the game as it relates to driving revenue.
Wes Bush:
One of the big pieces of just making this work for your entire organization is that your product team needs to be engaged with all teams as folks on every single team are going to start thinking about how can we use the product to better hit our goals.
Wes Bush:
The last piece I'll talk about here, as it relates to product, is that you need to really be focusing on creating products that drive usage. Not just servicing big accounts when those big deals come through and really going through how to set that up in the product for that one customer. What I hope you've been able to see by now is that for each of these teams, there's a lot of differences-
