PLG leverages satisfied customers to become powerful brand advocates, fostering brand loyalty and advocacy. Gartner highlights that 74% of business buyers conduct more than half of their research online before making an offline purchase, indicating the significance of creating positive user experiences which, in turn, nurture brand advocacy.
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An example to consider:
Evernote
Strategy: Building an excellent product
Result: Nurtured a loyal user base that actively cambodia businesses directory promotes Evernote among peers, expanding the brand reach.
Evernote serves as an exemplary instance of a product-focused approach fostering strong brand advocacy. Known for its standout note-taking and organization features, Evernote established a loyal user base that actively promoted the brand among colleagues and friends, hence expanding reach and adoption.
- Greater Market Penetration
PLG encourages deeper market penetration by focusing on delivering substantial value through the product itself. Efficient market penetration strategies ensure a broader user base and a deeper reach into the target market.
As evidenced by:
Zoom and its video conferencing service
Strategy: Leveraged the surge in remote work following the Covid-19 pandemic
Outcome: A meteoric rise in both the business and personal user market.
A well-known case for this can be seen in the rise of Zoom, a provider of video conferencing services. Together with the global shift towards remote work following the Covid-19 pandemic, Zoom’s easy-to-use software became an instant hit among businesses as well as individuals, providing a perfect case study of how a product-friendly utility meets a universal user need.
- Better Customer Lifetime Value (CLV)
PLG nurtures a higher customer lifetime value (CLV), defined as the total revenue a company can expect from a single customer account. Through a combination of high customer retention and consistent upselling or cross-selling opportunities, improved CLV is an effective way to lower acquisition costs and increase total revenue from customers.