Overview - The Lateral digital enabled Shift
As we enter the Year 2023 a Few months ago, it's important to keep an eye on the latest trends in product-led growth within different industry verticals from PLG's Eye. With the COVID-19 pandemic over and accelerating the shift towards digital, businesses are relying even more on their digital offerings to drive growth. Here are the top PLG trends to watch in and after 2023.
Key Points:
1) Personalization: Companies are personalizing their products and experiences like never before. By leveraging data and analytics, businesses can offer personalized recommendations and tailored experiences to their customers. This not only enhances customer satisfaction but also increases engagement and drives revenue. At https://www.getplg.com/, we believe personalization will continue to be a critical component of PLG and all other industry verticals in and after 2023. AI will lead all the way into the mainstream.
2) Freemium model: Offering a free version of your product has become a popular customer acquisition strategy. This allows users to try out the product before committing to a paid plan. The freemium model can also help businesses collect valuable user data and understand what features are most desired. Freemium has become an essential aspect of PLG's basic plan, and we expect it to continue to grow in popularity in and after 2023. But make sure freemium is well earned by users as PLG would only be free if you bring along one going fwd.
3) Self-serve onboarding: Traditional sales processes are becoming less effective in the digital age. Customers want to be able to sign up and start using a product on their own terms, without having to interact with a salesperson. Self-serve onboarding allows businesses to offer a seamless experience for users, resulting in higher conversion rates and a more satisfying customer journey. PLG's new design helps customers to onboard services as per their needs. PLG is going to offer Project Management Tools which will come with auto onboarding options and Pay-as-you-go.
4) Product Qualified Leads (PQLs): PQLs are a specific type of leads that have already used a product and have demonstrated a genuine interest in it. PQLs are valuable because they have a higher likelihood of converting to paying customers than other leads. By focusing on PQLs, businesses can optimize their sales funnel and see better results. PLG will support the direction in which Industry is moving in all sectors, with Digitization AI being the need of the Hour.
5) Big data and analytics: The use of big data and analytics has become increasingly important in all Industry Verticals. By tracking user behavior and engagement, businesses can better understand their customers and make data-driven decisions. Data and analytics can help optimize onboarding, improve customer retention, and identify areas for improvement in the product. 6) Community building: Building communities around your product is another effective way to drive growth. Joining PLG Communities increases your network and helps you build industry connections. A strong community not only increases customer loyalty but can also help with customer acquisition through referrals and word-of-mouth marketing. PLG's Social media platforms and forums are great places to foster a community and engage with your users. In conclusion, these are some of the top PLG trends to watch in 2023. As businesses continue to adapt to the digital landscape, PLG will become an even more critical strategy for growth. At https://www.getplg.com/, we're excited to see how these trends will shape the future of product-led growth.
The Author of this Article is the Founder and CEO of loadncode and Managing Partner serving on the advisory board for future strategic decisions with PLG. You can contact JP Bhatia at JPBhatia@loadncode.com