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Madkudu - Product Led Summit - Product Led Onboarding

As the conversation around product-led growth builds, some interesting trends have started to emerge. Amid all the stories and strategies are some frequently repeated myths about product-led onboarding and what it means in a product-led go-to-market strategy.

So I’d like to debunk 3 common product-led onboarding myths—namely, the idea that you don’t need a sales team, that conversion is a linear process, and that people truly want to serve themselves.

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Madkudu - Product Led Summit - Product Led Onboarding

  1. 1. @FrancisBrero Product-led onboarding Myths, Learnings and tips
  2. 2. @FrancisBrero Francis Brero ● CRO & Co-Founder @MadKudu ● Background in Mathematics, Data Science ● Favourite number: 73 Your Host
  3. 3. @FrancisBrero MadKudu is an Actionable Lead & Account Scoring platform that enables B2B companies to build relevant customer journeys at scale
  4. 4. @FrancisBrero Myths & Misconceptions
  5. 5. @FrancisBrero Recently, the fastest growing companies in B2B started with no Sales team “ PLG Myth #1
  6. 6. Product Led Selling - Seductive, Yet Crappy Antipatterns https://www.atriumhq.com/ “We just publish docs, and they buy, right?” “We don’t have salespeople.” These misconceptions can lead to believing seductive antipatterns.
  7. 7. Product Led Selling - Seductive, Yet Crappy Antipatterns https://www.atriumhq.com/ “We don’t have sales people…” - BULLSHIT!
  8. 8. Why the sales confusion, founders? https://www.atriumhq.com/ Oh. Experience with selling limited to caricatures of sales from movie and TV. That’s why.Personal predilection away from selling behaviors. Fond memories of those dicks who went into sales…
  9. 9. @FrancisBrero The Product Led funnel is linear: Activation, Engagement, Conversion “ PLG Myth #2
  10. 10. 50% of conversions after trial-end @FrancisBrero
  11. 11. © 2018 MadKudu Inc. Proprietary and Confidential It can take a village... averageOPEN OPPORTUNITY CLOSED-WON OPPORTUNITY Developers Designers Analysts Project & Product Managers Marketers CEOs Founders Directors average @FrancisBrero
  12. 12. B2B Sales is inherently complex LORD OF THE RINGS @FrancisBrero
  13. 13. @FrancisBrero The consumerization of B2B means buyers want to self-serve “ PLG Myth #3
  14. 14. @FrancisBrero “The way to maximize freedom is to maximize choice” Current industrial society dogma FROM TO
  15. 15. @FrancisBrero The Paradox of Choice Marketing automation platform: 206 CRM: 375 Sales Automation: 243 Live Chat solutions: 288 E-Signature: 149 Distinct Smarketing Stacks: 805 billion
  16. 16. @FrancisBrero 70% of the time people spend watching youtube is driven from algorithmic recommendations “
  17. 17. @FrancisBrero How to: Product Led Onboarding @FrancisBrero
  18. 18. @FrancisBrero Analyze Product metrics through the lens of your ICP
  19. 19. @FrancisBrero Beware of averages Simpson Paradox: Even though they perform better in every lead source Lead Source Good leads # Good Leads CvR Bad leads # Bad Leads CvR Total 3140 3.69% 510 3.73% Referrals 351 17.40% 253 7.20% PPC 2789 2.00% 257 0.40% Good leads perform worse than Bad leads @FrancisBrero
  20. 20. @FrancisBrero Daily retention analysis Company: High volume, B2B, SaaS, Freemium Day 2 retention: < 50% @FrancisBrero
  21. 21. @FrancisBrero 75% of each monthly cohort is low fit (spam, disposable emails, consumers…) for the product. Cohort qualification @FrancisBrero
  22. 22. @FrancisBrero Very Good & Good fit leads display excellent retention Day 2 retention: > 80% Daily retention by customer fit @FrancisBrero
  23. 23. @FrancisBrero Not all leads are created equal, Segmentation is key “ @FrancisBrero
  24. 24. @FrancisBrero Customize onboarding against your different ICPs
  25. 25. @FrancisBrero Segment by Use-case (CloudApp) Engineering Hi Jeff, I'm Scott, VP of Sales at CloudApp. We're so excited you've joined CloudApp! To get the most out of CloudApp, be sure to install CloudApp on your computer and take your first screenshot. I noticed you work in product at Scripps Networks Interactive. CloudApp allows product teams to quickly annotate features or use cases to customers and developers alike. If a picture is worth a thousand words, imagine what an annotated picture is worth. Give it a try and let us know if you have any questions. - Scott Product Hi Mike, I'm Scott, VP of Sales at CloudApp. We're so excited you've joined CloudApp! To get the most out of CloudApp, be sure to install CloudApp on your computer and take your first screenshot. I noticed you work in engineering at Pure Storage. Engineers tend to be big fans of CloudApp because it allows them to quickly capture and share that bug or that cool feature they've been working on. Introduce CloudApp to your team and you'll be forever known as the office hero. Give it a try and let us know if you have any questions. - Scott
  26. 26. @FrancisBrero Segment by Onboarding goals averagePRODUCT ACTIVATION ECOM CONVERSION Developers Account Executives Analysts Project & Product Managers Marketers CEOs Founders Directors average @FrancisBrero
  27. 27. @FrancisBrero Onboarding campaigns Seniority Based Outreach Goal: contact decision-makers to encourage purchase (or upgrade) of a team plan Audience: new user, likely to be Buyer Timing: six messages over 30 days Content: value of having a team plan for individual users and account management features overview Goals: - Schedule meeting to discuss benefits - Upgrade to team plan - Invite team members Goal: stay in touch with new signups and teach them how to use the app Audience: new signups, likely to be Adopter Timing: six messages within 14 days Content: tutorials on how to use the product and call to action to create a team Goals: - Activate the product - Invite more users - Add Credit card if single-user (small company) New User Signups
  28. 28. @FrancisBrero Adopter vs Buyer CTA Account Executive - Adopter Hi Jason, I'm Scott, VP of Sales at CloudApp. We're so excited you've joined CloudApp! Your time is valuable, and I wanted to help jumpstart the onboarding by offering a quick product overview to ensure your team gets the most out of it. Feel free to pick a time that works for you here. Additionally, here are some quick resources on how CloudApp can help your sales, engineering, and customer team. Looking forward to our conversations. - Scott Hi Andrew, I'm Scott, VP of Sales at CloudApp. We're so excited you've joined CloudApp! To get the most out of CloudApp, be sure to install CloudApp on your computer and take your first screenshot. I noticed you are in a sales role at BuySellAds. Your customers will love you when you show them rather than telling them. The next time a customer asks "can you show me that again?", wow them with a GIF or an annotated screenshot. Give it a try and let us know if you have any questions. - Scott CEO - Buyer
  29. 29. @FrancisBrero Orchestration
  30. 30. @FrancisBrero Thank you! francis@madkudu.com @FrancisBrero

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