The importance of customer retention in product-led growth
Imagine this: a growth strategy where your product becomes the driving force behind customer acquisition, conversion, and, most importantly, retention. This is the essence of product-led growth (PLG), a transformative approach that has emerged as the compass for businesses navigating the dynamic currents of today’s ever-evolving market. Customer retention within the realm of PLG is not just beneficial; it’s a fundamental necessity.
Fundamentally, PLG relies on the notion that if your product is valuable and user-friendly, customers will not only sign up but stick around. Therefore, retention becomes a central component of PLG as it directly influences the sustainable growth trajectory. By retaining existing customers and ensuring they continue to derive value from the product, organizations can build a solid foundation for consistent PLG.
Defining customer retention in PLG
In the context of PLG, customer...
