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Lenny's Podcast / episode intelligence

Elena Verna on how B2B growth is changing, product-led growth, product-led sales, why you should go freemium not trial, what features to make free, and much more

23 Jun 2022 12 published claims 2 attributable people

Speakers in the public record

Claim mix

evaluation 5belief 2prediction 2recommendation 2preference 1

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12 published records

01 / belief

As far as I can tell, it's between you and Casey Winters, for who's worked with more companies on their growth strategy, and I think you're winning.

“As far as I can tell, it's between you and Casey Winters, for who's worked with more companies on their growth strategy, and I think you're winning.”
Speaker
Lenny Rachitsky
Publisher
Lenny's Podcast

03 / evaluation

I think that's the key in order to create repeatable, sustainable, and competitively defensible growth model that is driving growth culture and growth mindset across the company because it's something that people can grasp on.

“I think that's the key in order to create repeatable, sustainable, and competitively defensible growth model that is driving growth culture and growth mindset across the company because it's something that people can grasp on.”
Speaker
Elena Verna
Publisher
Lenny's Podcast

04 / prediction

However, very quickly, you will realize that even your sales-led inbound of going on top of usage is going to start drying up because if you're not putting continuous pressure on growing those user growth, of driving that community, of driving that user habitual loops even on self-serve monetization, your enterprise will not grow if that was the root of your growth, if that was your original DNA.

“However, very quickly, you will realize that even your sales-led inbound of going on top of usage is going to start drying up because if you're not putting continuous pressure on growing those user growth, of driving that community, of driving that user habitual loops even on self-serve monetization, your enterprise will not grow if that was the root of your growth, if that was your original DNA.”
Speaker
Elena Verna
Publisher
Lenny's Podcast

05 / recommendation

You will take a whole village in order to activate something like that. So I think that there is freemium case for everyone, especially if you are trying to land a customer that you might not even wanting to monetize at the beginning, by the way, because you need to have a very good strategy behind your freemium.

“You will take a whole village in order to activate something like that. So I think that there is freemium case for everyone, especially if you are trying to land a customer that you might not even wanting to monetize at the beginning, by the way, because you need to have a very good strategy behind your freemium.”
Speaker
Elena Verna
Publisher
Lenny's Podcast

06 / evaluation

Tenures of leaders are shrinking because we are optimized on both sides during recruiting process to sell rainbows and unicorns and butterflies, that everything is beautiful, and this is match made in heaven, and either side is afraid to talk about problems that exist and understand whether they're going to be the right match to try to solve those problems.

“Tenures of leaders are shrinking because we are optimized on both sides during recruiting process to sell rainbows and unicorns and butterflies, that everything is beautiful, and this is match made in heaven, and either side is afraid to talk about problems that exist and understand whether they're going to be the right match to try to solve those problems.”
Speaker
Elena Verna
Publisher
Lenny's Podcast

07 / evaluation

What does it mean to have strong product market fit is that you, A, have retention, obviously. So it takes some time to actually measure retention, and I would say at least six months to almost a year post the initial offering, that's when you truly know whether customers are retaining with you, and number two, that you actually have some ability to acquire and monetize your customers potentially from the beginning.

“What does it mean to have strong product market fit is that you, A, have retention, obviously. So it takes some time to actually measure retention, and I would say at least six months to almost a year post the initial offering, that's when you truly know whether customers are retaining with you, and number two, that you actually have some ability to acquire and monetize your customers potentially from the beginning.”
Speaker
Elena Verna
Publisher
Lenny's Podcast

08 / prediction

The more industries and more products go through this evolution, the better it is for us, the users, because they actually are going to build solving our problems as opposed to solving checklists of security, data storage, and compliance.

“The more industries and more products go through this evolution, the better it is for us, the users, because they actually are going to build solving our problems as opposed to solving checklists of security, data storage, and compliance.”
Speaker
Elena Verna
Publisher
Lenny's Podcast

09 / evaluation

If somebody from the outside comes in and just slaps their previous company's growth model onto your product, it's most likely going to have 99% rejection rate and failure rate within your customers and within your employees, unless you give them actually time to figure out what your growth model is, and that might take three to six months, potentially even longer, depending on complexity of your product. So if you want quick wins, I think internal hires are the way to go.

“If somebody from the outside comes in and just slaps their previous company's growth model onto your product, it's most likely going to have 99% rejection rate and failure rate within your customers and within your employees, unless you give them actually time to figure out what your growth model is, and that might take three to six months, potentially even longer, depending on complexity of your product. So if you want quick wins, I think internal hires are the way to go.”
Speaker
Elena Verna
Publisher
Lenny's Podcast

10 / evaluation

In B2B, we've created the superficial ladder that enterprise buyer makes the decision for B2B products and they, not looking for shine, they're looking for utility, they're looking for efficiency, they're looking to solve a problem for their organization, but they're not even the users of the product in the first place. So the first wave of B2B products has been these cold interfaces, these enterprise feature checklists, these unusable products that anytime a user goes into it, they cannot wait to get out of it because they're not the ones making a decision.

“In B2B, we've created the superficial ladder that enterprise buyer makes the decision for B2B products and they, not looking for shine, they're looking for utility, they're looking for efficiency, they're looking to solve a problem for their organization, but they're not even the users of the product in the first place. So the first wave of B2B products has been these cold interfaces, these enterprise feature checklists, these unusable products that anytime a user goes into it, they cannot wait to get out of it because they're not the ones making a decision.”
Speaker
Elena Verna
Publisher
Lenny's Podcast

11 / preference

If your product is not able to activate and, more importantly, engage via habitual loops and be in the habit forming zone, then you'll have no chance to hooking an acquisition engine into your product because acquisition and product led means users invite or users refer or users create content that attracts other users.

“If your product is not able to activate and, more importantly, engage via habitual loops and be in the habit forming zone, then you'll have no chance to hooking an acquisition engine into your product because acquisition and product led means users invite or users refer or users create content that attracts other users.”
Speaker
Elena Verna
Publisher
Lenny's Podcast

12 / recommendation

That would be crazy, but if you want to play around with it, then absolutely go for it, and there's no time bound of how long it will take you to prototype something and understand whether MongoDB is the right solution for you. It's a great trial, where any production use case will go into their paid monetization model, but it doesn't give you this weird concept of you only have seven days to do it because we're busy, I'm busy, week flies by, and sometimes I don't have time to invest into discovery of a new product.

“That would be crazy, but if you want to play around with it, then absolutely go for it, and there's no time bound of how long it will take you to prototype something and understand whether MongoDB is the right solution for you. It's a great trial, where any production use case will go into their paid monetization model, but it doesn't give you this weird concept of you only have seven days to do it because we're busy, I'm busy, week flies by, and sometimes I don't have time to invest into discovery of a new product.”
Speaker
Elena Verna
Publisher
Lenny's Podcast
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