If you’re working in sales at a Product-Led Growth (PLG) company, you know it can get pretty complicated. Balancing new logos, expansion, and trying to figure out just the right message to send to your product users is a tall order. One of the most common questions we hear from our customers at leading PLG companies is “how should we use product data to be more effective?” So...
Let’s dive into the five ways the top sales teams at PLG companies use product data to increase sales and crush their quota.
1. Prioritize active users within target accounts
One of the best signals to help you know when it’s time to reach out is active usage, ideally from your target buyer persona. Since most product led growth companies offer free, self-service products, being able to quickly see who is using your product within your target accounts and reaching out to them with a relevant message is highly effective. (Not sure how to pull this off? Correlated can help.)
2. Measure activation within an account
Activation is different from activity. Activation means users within an account are performing key actions that indicate they are hitting sticky points in the free or self-serve product. These “sticky points” are different for every product and company, so let’s jump into a quick example:
Imagine you are a calendar booking application. Activation for that product might be calendars set-up, integrations with Google Calendar initiated and invites sent to teammates. By analyzing users and accounts that hit these milestones, you have a better understanding of when would be the best time to reach out as a salesperson.
3. Expand existing customers
Why does the average expansion take almost 365 days?
Expansion has traditionally been something that only happens around an annual renewal date or when a customer raises their hand to say they want to buy more.
Instead, using product usage data, sales teams can proactively identify accounts that are organically expanding and target them with incentives to expand even faster. We’ll be writing more on this topic soon!
4. Cross-sell or upsell into additional offerings
Many PLG companies have multiple product lines and want to incentivize the sale of new products. By looking at product usage, you can see which users or accounts are testing new features and use those signals to start a relevant conversation with existing customers or trialling customers.
5. Trigger usage thresholds
Many SaaS companies are moving to usage-based pricing, and with that comes both challenges and opportunities. For the sales team, whether it’s in the context of a free trial or with a customer account, using signals to understand when accounts are close to hitting usage limits can be a great way to increase revenue over time and improve close rates. This particular strategy is one we highlighted in our blog post about sending sales emails to developers.
Unlock Product Signals for Your Team
Ready to start using the tactics above? Correlated can help your business teams get access to product data, so you know the right person to reach out to, at the right time, and with the right message. Book time here.