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Product Led Growth

Product Led Growth

Product Led Growth (PLG) is about creating an optimal experience for users in order to cultivate long-term, sustainable growth. From the moment a user views an ad to when they first engage with a site or app, brands need to engineer a seamless customer journey to build a loyal, high-intent user base for sustainable growth.

We get more out of your acquisition budgets by creating an ideal customer experience that maximises user retention, purchases, and overall engagement to increase lifetime value and ROI.

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Our Product Led
Growth Services

Product Led Growth

What is product led growth?

Product Led Growth (PLG) is a methodology that centres growth efforts – from acquisition to retention – around the product itself.

Using the Product Led Growth approach to customer growth we align efforts across acquisition, monetization, retention, and product teams to create one holistic strategy that drives improved return on investment on your marketing spends and lifetime value from customers.

Our Product Led Growth department leverages aspects of lifecycle marketing as well as data analytics and design to create bespoke strategies and solutions for our clients.

The Importance of Lifecycle Marketing Within PLG

We consider Lifecycle Marketing (LCM) as a key component of the PLG methodology.

Lifecycle marketing is an in-depth strategy to grow your business by increasing your brand awareness and strengthening your customers’ loyalty all in one. Lifecycle marketing is about taking a ‘big picture’ view of your marketing and product funnel, and can be split into the five stages: Acquisition, Activation, Retention, Referral, Revenue.

No two stages of the marketing funnel are the same, so taking a bespoke approach to remove the pain points across the customer lifecycle is key. Our team of digital media experts have created a scalable framework to unlock your brand’s potential and increase your customers’ lifetime value.

By using analytics to optimise customers’ digital experiences and brand interactions, we can sustainably feed your acquisition funnel to expand your brand awareness and grow your revenue.

The Benefits of Product Led Growth

 

PLG lets you build a rich ecosystem for each part of your marketing and product funnel and helps your marketing budget go further over time.

By focusing on customers’ unique needs, you can streamline your product and marketing funnels, as well as increase your overall customer base. Once you’ve achieved brand buy-in, you can maximise customers’ value by focusing on retention and new sales opportunities from repeat business and organic referrals.

It’s no secret that happy consumers are more likely to purchase again, so tapping into a proven consumer segment allows you to grow your revenue with less effort. Over time, you can cultivate a well engaged group of customers and help your advertising budget go further using highly optimised strategies.

Our Product Led Growth Services

At M&C Saatchi Performance, we can advise across all stages of your customer experience, including:

App store optimisation (ASO)

We deploy best practices on your app store listing to ensure your application is more visible to customers, helping increase conversion rates across paid and organic activity.

LTV analysis

We establish optimal KPIs for key customer segments based on their forecasted lifetime value. These results allow us to focus our efforts on customers with the largest ROI and speed up the time to value.

User Onboarding Optimisation

We work to improve your data capture processes so you have a clearer picture of the pain points customers experience through the onboarding flow. Optimising the flow increases conversion rates, making marketing more efficient and leads to higher revenue per user and better retention rates.

Customer Journey Mapping

We test creative campaigns and technical elements across your app or website to refine the customer journey and drive users towards your most popular features.

Why choose us for Product Led Growth?

We take the time to get to know your business first. Once we have a clear picture of your needs and wants, we take a deep dive into your data to build a comprehensive strategy to remove customer pain points. The main three ways you’ll benefit by working with M&C Saatchi Performance are:

Complete Visibility

We diagnose opportunities and issues within your marketing and product funnel at a glance. Our customer experience and lifecycle marketing strategy maps out everything you’ll need to grow your business, giving you strategic insight into your needs.

Sustainable Growth

Quick wins are great, but there’s nothing like sustainable business growth that you can rely on. We champion the long-term health of your business by creating a comprehensive strategy that can grow with your business’s needs over time.

Data-Driven Decisions

We’re data-driven by default and passionate about offering total transparency in our services. We walk you through our methodology and help you understand how our strategy translates into KPIs to your benefit.

Our clients

Our industry accolades

Our awards

Related Reading:

How To Become A Product Led Company

How To Become A Product Led Company

Nov 6 2023
The Evolution Of Product Led Growth

The Evolution Of Product Led Growth

Nov 6 2023
A Guide To Product Led Growth

A Guide To Product Led Growth

Oct 30 2023
See More

Frequently Asked Questions

Why should you work with M&C Saatchi Performance?

We are an award-winning performance agency with a wealth of knowledge in providing effective, targeted, data-driven campaigns for our clients. As experts in this space, we have a clear understanding of the challenges that brands face with user acquisition and have established effective techniques through lifecycle marketing to increase overall user value.

How effective is product led growth in general?

PLG ensures brands are thinking about improving efficiency throughout the entire user journey. It is the most effective way to identify and address issues in your funnel. Through implementing various stages of lifecycle marketing and data analyses, brands can increase conversion rates, revenue per user, user retention, and overall lifetime value. By focusing marketing dollars on acquiring users in the most efficient manner possible, target ROI is reached faster which allows brands to reinvest into further scaling acquisition efforts. PLG is a crucial part of a strategic growth plan in order to increase user base as well as overall revenue.

What are some product led growth KPIs or benchmarks we should know about?

1. Retention: Day 1, Day 7, Day 30 and Day 90 user retention values are all indicators that users are more engaged and finding more value within the product

2. Revenue per User (RPU): measure RPU x days post-acquisition (i.e., Day 7 RPU) to determine how quickly you will reach the breakeven point of profitability.

3. Acquisition to action conversion rates: Determine which features are the most valuable to you and your users. Then measure the conversion rates between users who install your app, or visit your site to engage with those features. Features could include a purchase, sign up, or opt-in

4. Conversions rates to and from each step in your signup, onboarding and other important product flows. For example, how many users input an email in the first step but drop off before creating a password? How many users create a password but do not click to confirm their email address in their inbox? Understanding these rates will help you identify where major drop off points are in your flows and where the biggest opportunities for improvements are.

How is demographic segmentation used in different parts of product led growth?

When completing an LTV analysis, we will breakout data into tiered segments based on highest returns on investment. These tiers can be constructed in ways that are most valuable to the brand, some examples include:

1. Media partners
2. States/Countries, Regions
3. User demographics (age, gender, location) & interests (music, web3, sports)

When analysing customer journey mapping we will look for trends across user segments i.e. which users are most likely to convert across various touch points vs which users are more likely to churn. We can then customise messaging and the user experience to steer users to the most relevant features of a product.

Why is the customer retention phase so important?

Customer retention is crucial to the long-term growth of your business. Our goal is to maximise the value (product engagement, monetization, etc.) of each user to facilitate sustainable growth over time.

What type of data do you use when building customer profiles?

Available data varies wildly based on your product category, but generally would be based upon one or more of the following: media partners, states/countries, regions, user demographics or interests.

What data do you analyse when optimising user journey funnels?

First, we evaluate the data that is already available. Ideally there will be a product event, postback or pixel on every unique action within an onboarding flow and within the larger product. After this initial evaluation, we will advise on any additional data points needed for the most robust analysis and facilitate tracking integration. Some examples of key data points:

1. Account Creation/Sign Up
2. In App Purchase
3. Subscription Activation
4. Granted Permissions
5. Shares Across Social Media

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We would love to hear from you to chat about your customer lifecycle marketing goals. Drop us a message, and we’ll get back to you as soon as possible.