What is Product-Led Growth (PLG)?

Product-led growth is a go-to-market strategy or methodology in which the product itself – the individual features and the value they provide – is the chief driver of growth. It is a “try it before you buy it” approach in which the customer doesn’t have to go through a traditional sales cycle to get some value out of the product.

Instead, it uses a self-serve model in which the end-user can just using the product (often without paying a dime – more on this later). Growth is dependent on word-of-mouth, referrals, and virality, all of which in turn depend on how big of a problem you solve and how well you solve it. In simple words, the easier it is to use your product, the better.

Take Slack as an example. You don’t have to go through a lengthy process that involves you speaking to one of their sales reps. Instead, you can simply sign up, create channels, and communicating with your team members. There aren’t any complicated steps or obstacles in between.

This reduced friction or less time to value results in higher customer acquisition, retention (provided that the perceived value overlaps with the experienced value), and engagement.

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