To understand this we have to start by clarifying what we mean by Product led growth as a go to market strategy that puts your product at the forefront of acquiring and retaining customers. It flips the sales funnel on its head by letting folks self-select their upgrades and retention.
It’s a bold move.
It means you are banking on a strong analytics strategy, clear product market fit and an impactful user experience amongst other things I’ve summarised inspired by insights from the webinar today.
Teams have to speak the same language
Marketing, product, engineering and customer-facing teams need to be connected, this is why your analytics strategy should be comprehensive and include all parts of the user journey and metrics that express the direction each team is working on. This can be paired with goal-setting methods like OKRs to be doubly-sure your all driving in the same direction.
Imagine this… Having an email sequence send out instructions that refer to the old version of the registration flow which has the old pricing, then having the support team give the same incorrect instructions and watch the user cancel their account in realtime from your Mixpanel dashboard.
None of this please.
Understand growth with an infinite loop instead of an in-out journey
Retention isn’t the end, it should evolve into advocacy “Infinite app growth loop” was shared by Yodel. A data informed journey that means retention isn’t the end. Through
Enter OneSignal here. Yes, your product is going to be a stand-out, it’s going to delight your users by itself. However, there’s always a need for direct communication, which can include newsletters and hygiene notifications but should also include events-based notifications, personalisation and a/b testing. This is where OneSignal integrates seamlessly with Mixpanel to ensure you can be inspired by the date but also review performance of these communications in the data also.
Be prepared for growth
Many of the speakers shared from their experience of COVID fast-forwarding their product growth. Something they had designed to be a nice-to-have became a need-to-have when folks could no longer leave their homes to access healthcare services and solutions. It reminded me of something strategist Nancy Evbuomwan once asked a zoom-room full of founders “You say you want more customers but can your processes and systems handle 100,000 of your ideal customers?”
Be open to doing things differently and educating your market
“We’re fighting against pen and paper” said aptly by Gianpaolo speaking of the change from writing down your tennis court booking vs using Playtomic. There are so many industries that have yet to have their digital renaissance. So when you create a technological solution you need to be prepared to build know like and trust within your product and content to allay those fears head on. You initially have to champion the change, and then champion your specific solution.
How much do we trust our devices? How much impact do we inherently believe we can get from a gym-building vs a video workout? How do we feel about accessing therapy through instant messenger?
These are all pre-requisites to explaining why your platform should be the number one choice.
Be in tune to the needs of your users
Many businesses start through a pain point of the founder or founding team, which is the case with Jonny from Whiteflag. But at some point you stop becoming your primary persona and you have to hear other voices, ways of doing things and preferences. Get the quantitative data (in your Mixpanel Project) with the qualitative insight. No matter whether that’s user research interviews, snappy surveys and a group of beta testers include that in your product processes. This is something Gianpaolo recommended; “Having interviews with our users can help us understand we are following the right path for sure, you cannot run an app like Playtomic by not listening to your users… everyday offer a chat in a pop up in your app ” - Gianpaolo Di Nino, Playtomic
Word of mouth
Paul reminds of the cost of acquiring someone new vs retaining users, encouraging them to be advocates and share with word of mouth. Yep, tech doesn’t mean we stop talking to one another!
If someone has had a great experience why wouldn’t you make it easy to tell a friend, and another friend and another? A simple referral link that has a reward or acknowledgement or “requesting written testimonials can be a great way of spreading the word” - Paul McCallum, My Online Therapy
Especially when we consider the results of health-tech e.g. reduced stress, greater happiness, better health it’s likely they are already sharing your product at the family gathering or office. Understanding the user-journey and providing referral links and advocacy opportunities based on events and user behaviour seems a powerful fix.
Build a community around the cause
Health-tech seeks to improve our lives. People have always sought to improve our lives; you doing this with tech doesn’t put you on opposing sides.
By creating a genuine community of activists, experts, researchers, influencers, celebrities, enthusiasts and advocates for the life-change you support is a great way to build grassroots traction. We’ve seen this time and time again as folks join the waitlists of products that are still living in Testflight. Not only is it encouraging (product teams deserve some encouragement too!) but can also validate product market fit, interest, forecast active usage post-launch and more.
Test, test and test again
I mentioned Testflight… but that shouldn’t be the end of your testing; pre-launch. A/B test everything. Your registration flows, your onboarding email sequence, your onboarding text sequence, video walkthrough vs on-screen written instructions. There’s several ways you can go from point A to B in your product but when we think of Daniel Kahnemans’ “What you see is all there is” and our psychological penchant for running with the first idea we know that taking time, brainstorming other options, bringing it to the forum can be important.
Ask yourself.. Is this the best solution or is it the first?
If you have a healthtech app here are a few things you should be doing in Mixpanel:
Add annotations to your insights and funnels reports - if you’ve identified the pandemic rules are nudging your users, you should note that so you can have full context when you review performance. More here
Reviewing the user journey with the Signal report- Create a cohort of your top users, then take that cohort and ask Signal which events correlated strongly with the folks actually becoming your top users
Track Attribution - Not only for conversion, but for retention, If you indeed launch a referral programme, do this in a way it can be tracked as an attribution source alongside other organic and paid channels. In both insights, retention and funnels you can apply a breakdown to show this (the property may be named differently for you but search for source/UTM/current url and more).
What are your thoughts? Did you catch the webinar? What were your key insights? Let us know in the comments!
ICYMI stands for in-case-you-missed-it, so naturally you can access the full session recording here where you can hear directly from Paul McCallum, Marketing director at My Online Therapy, Jonny McCoy, CEO at WhiteFlag, Gianpaolo Di Nino, Product Manager at Playtomic all in a great discussion hosted by Mick Rigby, Founder & CEO at Yodel Mobile.