Navigating the Shift to Product-Led Sales: Insights from a Seasoned Growth Leader
In today’s fast-paced business landscape, the traditional “build it and they will come” mentality no longer applies. To stay ahead of the curve, companies must adopt a more customer-centric approach, focusing on the needs and pain points of their target audience. Harsh Jawharkar, a seasoned product and growth leader, shares his expertise on the nuances of a product-led sales strategy, highlighting the importance of building “routers” to direct customers down the right path and determining whether this model is right for your business.
Moving Away from the “Big Bang” Approach
In his experience, Jawharkar has seen companies move away from the traditional “big bang” product launch approach, where a product is launched with great fanfare, only to wait and see if it sticks. Instead, he advocates for a more iterative approach, where products are released and refined continuously, with customer feedback incorporated at every stage.
The Importance of an Outside-In Approach
Jawharkar emphasizes the need for an outside-in approach, where companies focus on understanding the customer’s “jobs to be done” and design products that meet those needs. This approach helps to avoid the common pitfall of looking inward and assuming that a product will succeed simply because it’s been built.
The Evolution of Product-Led Growth
Product-led growth has come a long way, and Jawharkar defines it as a self-service, frictionless method of acquiring customers using a freemium offering. However, he notes that product-led sales is the next evolution of this approach, where companies use the best aspects of product-led growth to acquire prospects efficiently and then convert them into customers using a sales-assist or sales-led motion.
Building “Routers” for Efficient Conversion
To achieve efficient conversion, Jawharkar recommends building “routers” that direct customers down the right path. These routers are designed to identify high-potential customers and provide them with the necessary support to convert into paying customers. By prioritizing these customers, companies can maximize their chances of success.
Incorporating User Feedback
Jawharkar stresses the importance of incorporating user feedback into the product development process. This feedback can come from various sources, including the product itself, marketing efforts, and sales and customer success teams. By aggregating this feedback, companies can gain a more comprehensive understanding of their customers’ needs and preferences.
Determining Whether Product-Led Sales is Right for You
So, how do you determine whether a product-led sales approach is right for your business? Jawharkar suggests asking three key questions: Is your product conducive to a self-serve, frictionless journey? Does your product align with your target persona’s needs and preferences? And, finally, is your buyer’s decision-making journey empowered to make a purchase?
The Future of Product Management
As the product management function continues to evolve, Jawharkar predicts that we’ll see a greater emphasis on building products primed for growth from the start. He also expects marketing to play a more significant role in the product conceptualization journey, with a focus on understanding the entire ecosystem in which the product will live.
By embracing these insights and adapting to the changing landscape of product-led sales, companies can stay ahead of the competition and drive meaningful growth.