Hey, UserGuiding family! We’ve got some exciting news to share 🚀
Last week, our CEO and co-founder, Osman Koç, moderated an insightful Fireside Chat organized by ProductLed. And I’ll bet there will be no confusion guessing the topic…
A deep dive into the power of product-led strategies to boost Net Dollar Retention (NDR) 🌟
So let’s take a closer look at the event, who our speakers were, and some valuable highlights from Osman!
The cozy little fireside chat event held by our favorite PLG advocates, ProductLed, was a massive hit for us, with some heavyweight founders like Guy Nirpaz and Mark Organ in the (virtual) room. With the topic being NDR, Guy, who is the founder and CEO of Totango, Mark, CEO coach at Categorynauts, and our very own Osman all had something to bring to the table.
Wanna know what went down?
Highlights from the Chat 🌟
👉 Osman went over NDR – what it is, how it’s measured, and why we care so much.
👉 According to Mark Organ, when NDr takes a hit, the first place to go looking for a solution is primarily product and then the customer acquisition teams like marketing and sales.
👉 Guy Nirpaz added that if we imagine our business processes in a flywheel, it’s all about thinking about the next step in the cycle; you acquired the customer, what’s next? You need to plan ahead for adoption and retention with the right customer profile in mind and then evolve to keep being the right product for this customer.
👉 Mark pressed on the fact that you could keep NDR at a maximum and still go out of business if you don’t give customer retention the attention it deserves. So instead of winning over any customer, you should focus on customers who will be successful with your product to avoid having users who were a bad fit spread bad advocacy of your product.
👉 Guy brings attention to the product side of the chat by letting us know that his product Totango saw way less churn after turning to a product-led free trial approach, and since your product is the main value, this approach helps in setting the right expectations and bringing in the right customers. Mark then adds that his product suffered with PLG in its early stages, which is a reminder that the main point is to find the most value with the least friction in a product map, with whatever growth approach that might be.
👉 Guy underlines that PLG and SLG can bring in the same value in terms of NDR, and for his product, kick-off meetings with the top executives of the customer company was how they fared well in high NDR.
👉 Guy says that churn is hands-down the most important metric for capital-efficient growth, and to reduce churn to as low as possible, the most viable tactic is to see the product as a big customer journey and optimize the product adoption and onboarding.
👉 Mark advised finding your own north star metric to really take off and be different compared to your competitors. What drives value and experience for your users is the main thing to focus on in this pursuit.
After the session, we’re buzzing with new ideas and strategies to implement in our approach to product adoption and its effect on not just NDR but an entire understanding of how to do business in SaaS.
The insights shared by Osman, Guy, and Mark were thought-provoking and also – thankfully – actionable.
I would say the talk was a must-see, especially if you’re a CEO or an executive of a SaaS company looking to get inspired.
Wrapping It Up
Osman’s moderation at the Fireside Chat was a reflection of our commitment to staying ahead in the SaaS game, and we learned much from Mark and Guy.
It’s these kinds of events that keep us sharp and ready to tackle new challenges. Stay tuned for more updates, and reach out to us on LinkedIn or Twitter if you would like to share your thoughts ❤️