Accelerate growth with Product Qualified Leads (PQLs)
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In this webinar, Aptrinsic Chief Product Officer Mickey Alon shares proven strategies to leverage your customers' product usage data to grow your business. Mickey will walk through the 5 pillars to successfully define and incorporate Product Qualified Leads (PQLs) into your product growth and customer marketing initiatives. Webinar recording available here: https://www.youtube.com/watch?v=l2H8XfG6was Download Mastering Product Experience in SaaS book: https://www.aptrinsic.com/book
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Accelerate growth with Product Qualified Leads (PQLs)
- 1. Accelerate Growth with Product Qualified Leads (PQLs) A practical guide to turn your product into your best growth tool Mickey Alon Chief Product Officer & Founder Aptrinsic
- 2. 2 Housekeeping • This webinar is being recorded and will be sent via email with the slides within 24 hours • Use #productexperience during the webinar on Twitter to ask questions for Q&A session at the end.
- 3. 3 “ 98% Of Marketing Qualified Leads (MQLs) never result in closed business “ Did you know… by SiriusDecisions “ 64% of Sales people’s time is wasted on administrative responsibilities around demand gen“ by SiriusDecisions
- 4. 4 Traditional Acquisition Model What’s Wrong With This Picture?
- 5. 5 Traditional Acquisition Model Confidential. Copyright © 2016–2017. All rights reserved. • The customer journey spans between different silos which doesn’t fit the buyer’s expectation anymore and introduces high CAC • Marketing automation uses lead scoring models (MQLs) that overweight activity around form submit and email opens to qualify leads. • ABM – is a more effective way to reach people most likely to buy your products, BUT doesn’t deviate much from the traditional MQL tactics • Product teams are not part of the process therefore would not make growth a priority in the product backlog
- 6. 6 “Building immersive product experiences that people love is the key to customer retention and growth “ Jeetu Patel • Chief Product Officer
- 7. 7 But wait? How can I create a product experience for prospective customers if they aren’t using my product?
- 8. 8 What is Product-Led Growth Strategy? Product-led growth strategy is an action plan that describes repeatable and scalable processes for how a company acquires, retains, and grows customers by leveraging it’s product as the main customer acquisition and communication channel.
- 9. 9 Why PLG is rapidly adopted in SaaS ? • The rise of the empowered buyer and consumerization of B2B software • Product led GTM enables product driven businesses to scale exponentially, lower CAC and increase CLTV. • It puts your prospects on the FAST TRACK to adopt your product, realize it’s value and become paying customers • Aligns product roadmap and priorities with growth $1 million in new contracts. Every. 11. Days. > 2M users and double digit millions in ARR Annual revenue to hit or exceed $500 million in 2018. > 20,000 paying customers
- 11. 11 What is a Product Qualified Lead? In a nutshell PQLs are qualified leads that demonstrated buying intent based on product interest, usage, and behavioral data. LEAD PQL Opportunity Revenue LEAD Revenue Opportunity MQL SQL User and Account demographics and firmographics Usage and frequency metrics Engagement metrics Package limits Support metrics
- 12. 5 Pillars to Accelerate Growth using PQLs Confidential. Copyright © 2016–2017. All rights reserved.
- 13. 13 Become a product-led company, make growth an important part of your product initiatives
- 14. 14 Drive prospects to signups, minimize gating Confidential. Copyright © 2016–2017. All rights reserved. SIGN UP NOW!
- 15. 15 Have a product oriented sales team Confidential. Copyright © 2016–2017. All rights reserved. PRODUCT LED GROWTH
- 16. 16 Continuously Measure & Onboard users Confidential. Copyright © 2016–2017. All rights reserved. Identify high converting usage behaviors Paying customer Guided onboarding Always optimize your first mile of product! 1 Mile
- 17. 17Confidential. Copyright © 2016–2017. All rights reserved. Democratize Your Product’s Data
- 18. 18 What are the benefits of a Product-Led Growth Strategy? Aligned with how customers want to buy Able to personalize experience earlier in buying cycle Product usage is better correlated with buying intent Focuses sales, product and success around solving customer problems Build innovative products that people love to use
- 19. Q&A Ask questions on Twitter using #productexperience Mickey Alon Chief Product Officer & Founder Aptrinsic
- 20. Thank You Download free copy @ Aptrinsic.com Additional Resources
Editor's Notes
- Product-qualified lead (PQL)is a prospect that signed up and demonstrated buying intent based on product interest, usage, and behavioral data. PQLs provide a more accurate method of tracking customer journeys from signup to x-sell/upsell. This is a key metric for any company that’s transitioning to a product-led GTM strategy.
- Check out https://labs.openviewpartners.com/?s=PQL for more information on PQLs