Product-led growth is a business strategy focusing on using a company’s product as the primary driver of customer acquisition and revenue growth. This approach relies on the product being so valuable and easy to use that it drives adoption and customer loyalty independently, without needing a sales team or traditional marketing efforts.
Here are a few examples of companies that have successfully used product-led growth strategies:
Slack: Slack is a team communication and collaboration platform that has grown rapidly by offering a free version of its product and using word-of-mouth and viral marketing to drive adoption. Its product is easy to use and adds value to teams, which has helped it grow to millions of daily active users.
Dropbox: Dropbox is a file storage and sharing service that has grown significantly through a product-led approach. It offers a free version of its product that allows users to store and share files, and then upsells users on its paid plans with additional features and storage. Its product is simple to use and adds value to users, which has helped it grow to hundreds of millions of users.
Zoom: Zoom is a video conferencing platform that has experienced explosive growth in recent years due to its ease of use and valuable features. It offers a free version of its product that allows users to hold meetings with up to 100 participants. It then upsells users on its paid plans with additional features and larger meeting capacities. Its product is essential for remote work and has helped it grow to millions of daily meeting participants.
Overall, product-led growth is a powerful strategy for companies with a valuable, easy-to-use product that can be offered for free or at a low cost to drive adoption and customer loyalty.