Improving customer success and customer experience are two important aspects of any business. They help to grow the bottom line and make sure your customers are getting the most out of what you have to offer. When working with product-led growth strategies, though, it’s also important to remember that when you start to focus on what your customers want, you’re more likely to gain traction with your product and retain them longer term. Here are five steps you can take to build a successful product-led growth strategy based on your customers’ experiences.
The Importance of the Right Approach
Applying a product-led growth strategy is far from simple. As an entrepreneur, your role isn’t merely as a business founder; you must act in every capacity, including that of CTO, CMO and CEO all at once. You must take everything into account from understanding customer needs through evaluating product performance. Balancing key metrics can be especially challenging when you’re acting in so many capacities at once. So how do you create and implement such an impactful strategy?
The Key Benefits and Goals of a Product-Led Growth Strategy
If you are not clear on what a product-led growth strategy is, then let’s start with identifying its major benefits and goals. Why would you want to launch one in your business? What do you hope it will accomplish? If a significant portion of your target market doesn’t think that working with you is worth their time because they can get better results from other providers, then there won’t be much reason for them to buy from you. Your product must work for your base and help you keep and grow your base. Customer Success can help but it is not a silver bullet.
The Customer Journey Mapping Phase
The customer journey mapping phase is what you need to get started on a product-led growth strategy. The first thing that you’ll want to do is identify all of your customers, and create an empathy map for each one. This will help you begin to understand what their pain points are, and how they currently solve those issues. Once you have complete these maps, review them with your team so everyone has a complete understanding of who they are trying to appeal to.