Like the age-old adage…’it’s not the car, it’s the driver,’ the same can be said for the PLG model you choose. There are countless examples of SaaS companies using different models. But the specific PLG strategy you choose doesn't matter as much as how you structure it. Let me explain.
A successful product-led model solves a meaningful problem for your users, helping them realize value quickly. To do that, your users must also be exposed to your product’s unique differentiator. In this article, discover the step-by-step guide on how to build a world-class PLG strategy that fits your business goals.
Is your book of business in need of a sales navigator? This article offers a detailed guide on using LinkedIn Sales Navigator to improve your sales prospecting workflow. Here's a quick tip...
Focus on the accounts you want to target by using data from your CRM. Then, discover which prospects you have connections with using the Relationship Explorer, and send them an invite!
A webinar hosted by Salesloft discussed the challenges of the modern sales process and provided actionable insights on prioritizing sales workflows. A core theme was achieving predictable sales success.
To achieve a predictable funnel, break it down into a four-step approach – excellent prospecting, effective pipeline and deal management, continuous analysis of what's working, and cultivating a culture of excellence.
Not another VC breakdown of Klaviyo’s S1 filing…I know, I know, but I’ll save you the hassle of combing through the voiceover and jump right to the interesting stuff.
Here’s a quick recap of Klaviyo’s financials and an overview of the company’s growth strategy.
Metrics Overview
- ARR & Growth: $658.3M of implied ARR (quarterly revenue * 4), growing 51% YoY
- Retention: 119% net dollar retention and 88% gross dollar retention
- Profitability: $7.9M operating income in 1H 2023
- Cash Balance: $439.8M of cash on their balance sheet as of June 2023
Product-Led Growth
Klaviyo started with a product-led approach for SMBs and later matured into a multi-product outbound sales motion for mid-market and enterprise segments.
The key personas the company targets are the Chief Marketing Officer, Chief Customer Officer, and other functional marketing leaders.
Traditional Outbound Sales
Klaviyo's sales-led growth strategy has been extremely effective in landing larger customers - ($50K+ ARR) and closing them quickly (8-week sales cycle).
Furthermore, Klaviyo has managed to maintain high efficiency across the business with a reported CAC payback period of 14 months.
Strategic Partnerships
Klaviyo has strategic partnerships with App stores and marketplaces, most notably with Shopify
Almost 80% of Klaviyo's ARR at the end of 2022 came from customers who also use Shopify.
Writing great copy is both an art and a science – it demands creativity, expertise, and a deep understanding of your audience. But the best copy not only resonates with your audience, it inspires them to take action. This article walks through 12 copywriting examples from companies and the tactics they employed.
Crack the code to higher conversion rates with marketing attribution. Your attribution data lays the foundation for surfacing your highest-performing channels. By layering attribution data with an ICP score, B2B SaaS companies can be prescriptive about who to outreach to and when. Dig into the different types of attribution models and data points to track in this article!
Success isn't always about making the big leaps; sometimes, it's about smart, incremental changes. For Miro, that meant iterating smartly to improve product onboarding. The company's user onboarding and activation strategy progressively shifted through three distinct phases – 1) Startup, 2) Covid Hyper-Growth, and 3) Growth at Scale. This article walks you through how Miro's onboarding flow shifted and practical tips your company can learn from.
Don't leave your SaaS growth to chance! Whether you’re in the initial stages of launching or looking to scale, understanding the different product-led growth models can help accelerate your growth. This article dives into six different PLG models and how some of the largest SaaS companies use them to scale.
Want to increase your outreach conversion rate by 3-5%? This article breaksdown five hacks to do so. To start, design a process diagram to map the sequence of steps and identify any bottlenecks. Next, use automation triggers to flag what accounts to reach out to. Track your results with CRM reports and improve on the process.
There are a hundred and one ways to configure your CRM. Regardless of how you decide to set up your system, be sure to design it in a way that streamlines the sales process, improves usability, and accurately tracks core metrics. This article walks you through a few best practices on how to set up Salesforce Opportunity records for success!
The SaaS industry is evolving. As single-point solutions sturggle to balance growth and profitability, companies are shifting towards a multi-product play to build a strong business model.
Here are three growth strategies SaaS founders can learn from.
Establish a Control Point. Build a product that has essential data, finances, or workflows that a customer relies heavily on, thus granting an unfair right to expand.
Patterns of Expansion. Once you have a control point, leverage workflow and data gravity to create products that complement each other, following strategies like Follow the Workflow, Single Source of Truth, and Data Enriching Data.
Cross-Compounding Frontiers. Venture into expanding products not just within a single customer but across multiple customers, capitalizing on the potential of data co-ops and network effects to cement a position in the industry.
‘Good artists borrow, great artists steal.’ Don’t quote me on that; I’m not advising anything here. But getting inspiration for your next marketing campaign can come from reviewing what other companies are doing.
Here are 15 email marketing examples to draw insights and inspiration from. This article reviews the different types of email flows, including onboarding, nurture, and win-back campaigns.
How leaky is your drip campaign? Traditional drip marketing is often filled with product promotion. But only 10% of prospects are ready to buy today. Instead, drip campaigns should be focused on providing high-value content every week.
One way to do this is by sending quality webinars within your emails. Examples include product use cases, industry insights, or customer success stories. By providing valuable content that educates subscribers, you can build trust with prospects over time as they move closer to the buying stage.
As 2023 comes to a close, customers are likely looking to reaccelerate their pipeline to hit their end-of-year targets. But to capture this demand, you may need to rework your H1 strategy – which was likely designed for scarcity and not abundance.
Here are three strategies to consider as you roll out your H2 motion. 1) Fine-tuning your paid media channels, 2) Maximizing your SEO and content marketing equity, and 3) Nurturing & reactivating dormant prospects.
The great debate continues. Amid economic uncertainty, executives are prioritizing performance marketing due to its immediate, measurable returns over brand marketing. As a result, fostering long-term customer loyalty and building brand value is often left behind.
However, sustainable growth requires both short and long-term investments. The key to advocating for brand marketing is to build relationships with budget holders (often the CFO) and showcase successful examples such as Salesforce’s ‘We Bring Companies and Customers Together’ campaign.
