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Product Management , Strategy — 11.09.2020

10 Questions to Assess Your Readiness for Product-Led Growth

Katie Lukes, Principal, Product Strategy

If product-led growth strategies are on your radar, you may be thinking about your own product’s readiness to help grow your customer base and revenue. Product-led growth is a wide concept that touches on every aspect of the product. There’s no one-size-fits-all way to incorporate it into your business.

Think you’re ready to apply this new strategy to your digital product? If you’ve read our “What is Product-Led Growth” article, these 10 questions can help you think about how to add in product-led growth practices in a way that makes sense for your product. This isn’t a comprehensive assessment but it can spark ideas on how to get started.

  1. Brand: Does your brand speak appropriately to potential users who you want to try out the product? Is it approachable while being industry-appropriate?
  2. Site: Can a user visiting your website easily understand the problems your product solves, what features it has, and who the product is for? 
  3. Try it: Do you have a way for prospects to try your product or start using it immediately without contacting a human?
  4. Onboarding: When users first “enter” your product, do you have clear and friendly ways for them to acclimate to your features in a just-in-time way (meaning, not introducing every feature all at once)?
  5. Value prop: Can users easily understand and experience your key value proposition quickly in your product experience? 
  6. Sharing: Do you have ways users can share your product’s value with others through either sharing artifacts from your product or inviting others?
  7. Feature awareness: Can users easily see, learn about, and understand the value of premium features in the product itself, even if they are on a lower pricing tier?
  8. Upgrading: Can users initiate an upgrade and pay without contacting a human or going through a heavy process?
  9. Packaging on value: Is your packaging constructed such that, after a user has tried your product, you can monetize on the highest-value use cases?
  10. Analytics: Are you tracking analytics to understand how users experience your product, what areas are most frequently used, and which are least frequently used?

Ready to take the next step with product-led growth? Reach out to us with your specific questions or read our article “Where to Start with Your Product-Led Growth Transformation.

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