Product-Led Growth

November 17, 2020

Product marketing leaders on product-led growth: an end-user centric strategy to acquire, expand and retain customers.

Video Transcript

Speakers: Thomas Dong, Advisor, LogiSense. Muneyb Minhazuddin, VP Solutions and Product Marketing, VMware. Meghan Keaney Anderson, VP Marketing, Hubspot. Ruth Zive, Head of Marketing, Ada

Meghan Keaney Anderson: A very exciting area: product led growth. The product marketing leader must understand when and how to utilize the end user centric strategy of product led growth as a lever to acquire, expand and retain customers

Ruth Zive: Product marketing actually has the broadest, most representative view of the market opportunity. So or at least they should, Product marketing should be talking to industry analysts and thought leaders, your customers and prospects. They should be asking sales and be BDRs for feedback about what they're hearing in the market. They should be watching the competition, trying their products to identify gaps and opportunities. You know, in my experience, too many organizations build product road map in a way that is a bit of a knee jerk response to customer requests. And customer requests are really important input. But they can taint your perspective a bit. They offer a pretty narrow view of the market opportunity and it's product marketing that is the most uniquely positioned to offer the broadest view.

Muneyb Minhazuddin: Product marketing leaders need to be the outside-in customer view into the into the company. I think that's very important because, typically, you know where we have a lot of folks for technology savvy at the helm of the development of the product. They're trying to build in a cool functions capabilities and and drive that out. I see a lot of folks gonna fall in the trap off trying to do a product market fit for some technology that's being developed by the team and then trying to figure out how to drive that into the market.

Thomas Dong: for trying to understand growth potential. Assessing product market fit is a crucial first step, and there happens to be a very simple and elegant approach called a Sean Ellis test. Much like calculating NPS where you ask your customers, how likely are you to recommend a product on the scale from 0 to 10? Instead, ask, How would you feel if you could no longer use our product? Given the choice is a very disappointed, somewhat disappointed and not disappointed. If more than 40% say they would be very disappointed you have a good product market fit anything less, it's time to revisit your product roadmap and vision or redefine your ideal customer profile.

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