FREEMIUM Chapter 7 Podcast
Filling the Marketing Funnel: How to Aquire Self-service Customers
Many successful companies would like the benefits of product-led growth, but not all know how to go about building it. Once they learn what it takes, not all companies are confident they can re-build their new-customer acquisition motion to support PLG.
Fair enough.
That’s what this chapter is all about. What does it look like to prioritize user acquisition over contract acquisition, and then streamline the journey from new user acquisition to activation, first impact (aha moment), and monetization?
Since all this has to be built in a self-service way, it requires a full blend of product and marketing, and discovering what works involves a mindset of experimentation.
Enjoy!
XOXO,
.
Chapter 7 Summary
PLG focuses on “user Acquisition” (vs. sales contract size or quantity).
Users are invited to experience the product prior to purchase.
Unit economics are used to measure efficacy of Acquisition– specifically CAC Payback Period.
Expect a wide top of funnel, with many happy users never becoming paid users, but still an important segment of the ecosystem, driving referrals and other opportunities for paid growth with users.
Manager Minute
Thinking about your own company, take time to reflect on the following questions:
In what ways could we allow our customers to experience our product before purchase?
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How do we currently measure our Customer Acquisition Cost (CAC)?
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How do we currently measure our CAC Payback Period?
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