Navigating the Software Buying Process: Unpack the Shift to Product-Led Growth
Unpack the changing landscape and how it's influencing both buyers and users.
At Thrive Stack, we thrive on catalyzing business growth. Meet Osman Polat, our visionary collaborator, who brings a treasure trove of industry wisdom to our table. Having orchestrated and booking meetings, honing his understanding of the complexities and nuances of business communication and powered growth at ViDGREETS, a Dutch startup, his insights into the intricate SaaS landscape are unparalleled.
Join us as we dive deep into the winds of change reshaping software buying. Osman’s insights form the backbone of our exploration into the shift towards Product-Led Growth in the software buying process.
Our collaborator for this discussion, Osman, brings a wealth of industry experience to the table. In his previous role, Osman was deeply involved in orchestrating and booking meetings, honing his understanding of the complexities and nuances of business communication. He was later approached by ViDGREETS, a Dutch startup, to leverage his expertise in facilitating product growth. His unique experiences have equipped him with a profound understanding of the intricacies of the SaaS landscape. His insights form the backbone of our exploration into the shift towards Product-Led Growth in the software buying process.
In the ever-evolving world of software, the buying process is undergoing a significant transformation.
87% of technology buyers adjusted their buying process to ensure they only buy mission-critical products that will provide ROI.
TrustRadius
As a company that focuses on driving growth for businesses, we at Thrive Stack have been closely monitoring this shift. Recently, we had the opportunity to collaborate with Osman, an industry expert, to discuss the changing landscape and how it's influencing both buyers and users.
Budget Holders and Traditional Procedures
The first point of discussion was the role of budget holders in organizations. Interestingly, Osman noted that these individuals have not changed significantly over time, often sticking to traditional buying procedures. As we at Thrive Stack have observed, this lack of change can lead to a disconnect between what is purchased and the evolving needs of end users.
The Modern End User
End users today have different expectations than they did a few years ago. They prefer direct, unmediated experiences with products or services, a trend Osman has also noticed. Users want the ability to easily sign up and try a product, without having to first schedule a meeting with a salesperson. However, many organizations still insist on following traditional models, which can often result in user frustration and product abandonment.
Reaching the Decision Makers
One of the challenges both Thrive Stack and Osman have identified is the difficulty of reaching decision-makers. These individuals, such as ecommerce managers, marketing managers, and product managers, are often inundated with offers and tools, which makes standing out a tough task. The challenge is to be heard among the cacophony of voices vying for their attention.
First-Party Data Conversion
In his previous role, Osman worked on marketing gamification solutions that converted website traffic into first-party data. This experience is particularly relevant to our discussion on Product-Led Growth (PLG) as the ability to gather and effectively utilize first-party data is a crucial aspect of many successful PLG strategies. Despite achieving impressive conversion rates, they faced scepticism from marketing managers reluctant to adopt yet another marketing tool. This reflects the broader challenge in the SaaS industry - adopting new strategies and tools that may disrupt familiar workflows.
The PLG Strategy: A Magic Pill for SaaS Growth?
A common misconception is that the PLG strategy is a magic pill that can instantly boost the growth of any SaaS business. However, as with any strategy, it requires careful planning, execution, and constant iteration. It's not a one-size-fits-all solution, and what works for one business may not work for another. Stay tuned for our next blog post where we'll delve into why the PLG strategy isn't always the right choice for every SaaS business.
The Future of Software Buying
At Thrive Stack, we firmly believe that a user-centric approach that allows for easy access, trial, and evaluation of a product or service is the way forward. This aligns with the shift towards product-led growth (PLG), a methodology that focuses on the product as the main driver of customer acquisition, conversion, and expansion.
Osman echoed these sentiments, envisioning a future where software companies design their products and services with the end user in mind. He foresees a world where users can effortlessly explore and adopt new tools without the need for lengthy meetings and sales pitches.
As we continue to navigate these changes, Thrive Stack is committed to driving conversations and actions that push towards a more user-friendly, efficient, and effective software buying process. Collaborations like these, with industry experts like Osman, are crucial in keeping us aligned with the evolving needs of our customers and the industry at large.
Stay tuned for more insights and collaborations from Thrive Stack as we continue to explore the changing landscape of software buying.
.............
Stay tuned for more insights and collaborations from Thrive Stack as we continue to explore the changing landscape of software buying.
 |
|