2022 Product benchmarks - Openview
About ATTACH
- Author: OpenView
Introduction
Frequently Used Terms
- Freemium: These companies with a free version of their product as the go-to product experience. We consider freemium companies to be product-led.
- Free Trial: These are companies that offer a timeboxed, self-serve free trial of their product, we consider free-trial companies to be product-led.
- Sales-Led Growth: These are comanies that require a user to work directly with a sales rep to experience the product.
- PLG
- Standout PLG: This is a subset of companise that filled out the 2022 product benchmarks survey that consistently grow at above 30% at scale, have surpassed $30M in revenue and are household names.
- PQL: are users who are prioritized as ready for saels outreach based on their usage patterns within the product.
Respondent Breakdown
Annual Growth Rate ATTACH
Product experience
Product-Led Growth ATTACH
PLG companies
The new User Journey ATTACH
Hwo can business meaure and optimize the new user journey?
Discover: How Can a PLG Company Grow ATTACH
PLG method
- Exposure Virality: Every single time someone interacts with your product, they expose your brand in some way and are happy to do it because it makes them look good.
- Collaborative Virality: Users who want external parties to view their work or interact with them in an application can invite them, driving user growth and awareness.
- Sidecar Products: are standalone products taht solve for issues your ideal customers face. Great examples are HubSpot’s Website Grader, Snyk’s Vulnerability Database, and Wistia’s Soapbox.
- Product-Driven SEO
Start: Capturing User Interest ATTACH
Web-to-free rate: Freemium > Free Trial > Standout PLG
The median rate at which users will sign up within 90 days after visiting the website for th first time is 3.12%.
Activate: Nailing the Aha Moment ATTACH
Aha Moment is:
- A one-time event that cannot be undone or completed multiple times.
- It represents true value to the user, not a vanity metric.
Convert: How Does Sales Work at PLG Company ATTACH
The median rate at which users will upgrade to paid within 90 days after signup is 6%.
PQL model have free-to-paid Conversion Rate that are nearly 20% higher than their peers without PQLs.
Scale: Focus on Usage Retention to Grow ATTACH
Tools in the new era of PLG will find a new way to capture user engagement.
