Elena Verna: evaluation

Transcript context

…Let's do it. Okay, so let's just start with a bigger picture kind of question of just, how do you define product-led sales? What is product-led sales, especially when it comes to what is it versus product-led growth? Great question, so let's start with product-led growth. We've talked about it a little bit in our first episode, but let's revisit the topic. Product led growth is all about product's ability to self-serve activate, self-serve engage, and convert that usage to a monetization opportunity. You bring people, you get them to an aha moment into the habit loops, and then you able to extract value back out of them. Extraction of the value can be direct where you're actually capturing revenue from them, or it can be indirect where they're participating in your growth model via virality or user-generated content and bring additional business through the doors. Let's talk about direct phase to capture that value. There's self-serve monetization, so I'm using product self-serve. I go to the pricing page. I find the plan that best suits me on features that I want to unlock or usage that I want to unlock and I buy it. However, that's not the only way to monetize that usage. You can monetize that usage with sales, too. Why? Self-serve monetization has a cap of about $10,000. That's just how much we're able to process on the credit cards before they start getting flagged and declined by the banks and how much we as a consumers and prosumers are even willing to put on our credit card because not all credit cards have limits of over 10, 20, 30, $40,000. Self-serve monetization is very much a prosumer use case where an individual is trying to solve the problem on their own. Product-led sales converts the usage that you've generated via self-serve into a sales opportunity and it attaches a salesperson to close a much larger contract, which can be 15, 20, a hundred thousand dollars in order to bring an enterprise-level solution to a company that has already been using it in a self-serve manner. Amazing. Would you say that product-led growth has always been in a sense product-led sales because sales was involved and theirs has been kind of like way of describing it? Or is this a new trend and way of approaching product-led growth?…

Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.