Product-led growth is an excellent strategy for about 5% of B2B companies. This type of growth requires an incredibly easy-to-use product – one that offers a lot of value while requiring minimal effort. That typically isn’t the case in B2B, especially software as a service (SaaS).
So how should the other 95% of B2B brands grow?
The other 95% should focus on customer-led growth. It’s your customers who build your brand through purchasing, advocacy, and loyalty. And the idea of customer-led growth is based on the touchpoints of their journey and the subsequent emotions involved.
So how can brands take a strategic approach to customer-led growth?
- Measure whether or not the customer is receiving value.
- Prioritize customer data when making decisions.
- Make outsized investments in customer teams.
Back as a guest on The Customer Experience Podcast today is Chris Hicken. Chris is the co-founder and CEO at ‘nuffsaid — a software company that collects communication data and checks in with customers to measure the value they receive. For Chris and his team, the idea behind customer-led growth is that everyone at the company is obsessed with the value customers receive from the product.
Chris has more than 15 years of B2B software experience as a leader, investor, advisor, and board member — including eight years as President and COO at UserTesting. In his first appearance on this show, we discussed business metrics worth tracking (click here for CX 65 “Product Usage as a Vanity Metric”.)
Today Chris shares that, for most people, value is a feeling. When everyone makes decisions based on customer value, brands arrive at a place of success with only the best customers and use cases. This leads to higher retention, better customer advocacy, lower cost of acquisition, and quicker growth — all based on providing superior CX.
Chris and I also discussed:
• How the philosophy of customer-led growth originated
• Which of the four types of data to prioritize and why
• What three things customer-led growth companies do
• How to start collecting data on customer value
• What influence video has in creating value for customers
3 Elements of Customer-Led Growth
Hear Episode 190 and any (or every!) other conversation on The Customer Experience Podcast in your preferred podcast app …
While you’re there, please make one extra click to rate the show (or even take a minute to leave a review) – it’s very helpful!
We also embed the full conversation and make it searchable right here in these blog posts. The recording with Chris Hicken is right here …
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Video Highlights: 3 Elements of Customer-Led Growth
Check out the top five video highlights from the discussion with Chris Hicken…
1. Ranking Four Data Types for Decision Making
2. The Context, Scene, and Set-Up for Customer-Led Growth
3. Three Things Customer-Led Growth Companies Do
4. Taking Your First Step Toward Customer-Led Growth
5. Finding Product-Market Fit with Empathy, Value, and Analytics
Links Related to This Conversation:
- ‘nuffsaid Magazine
- Chris Hicken on LinkedIn
- The Rule of 40
- Dave Garr on LinkedIn
- Darrell Benatar on LinkedIn
Other Episodes You’ll Enjoy:
- Episode 65 with Chris Hicken, “Product Usage as a Vanity Metric”
- Episode 123 with Scott McCorkle, “Transforming Customer Relationships with Transparency and Collaboration”
- Episode 184 with Tonya Bjurstrom, “Holding Curious Conversations to Hear the Voice of the Customer”
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