Sam Ostrom's Work Portfolio
Product Led Growth
Summary: I led our product led growth initiative to grow our small and medium business clients without the need to hire more people
Why did we undertake this initiative?
Product Led Growth is undertaken to lower customer acquisition costs and to build customer loyalty. It is particularly effective when you need a lot of customers but can't hire more people. In my 3rd year at Autify, we found that we were spending far too much time in demo's and sales processes for low tiered customers that monthly revenue was small. We needed to have a way for low revenue generating customers to sign on, pay and use our system without the need for sales intervention.
What did I do to complete this initiative?
We implemented PLG with 3 main MVP goals:
1) A self sign up system where customers could trial the product without having to interact with us.
2) A way to start a subscription in app that was hooked up to stripe and automatically deposit payments into our accounts.
3) In app tutorials to help guide the trial customers.
Results of the initiative?
1) We started to see more small companies pay for our tool with minimal intervention. This was a huge win for us as it meant we could reach more customers without having to hire more people.
2) Payments were being made on time much more frequently.
3) It birthed the freemium model Autify has today where customers can trial a limited version of Autify Nexus. This also gave us more time to convert customers to paid contracts and keep them engaged with us.