How to Start Product-Led Growth with 1-Click Upsells

Product-led growth (PLG) is a strategy relying on utilizing the product as the primary driver of customer engagement, acquisition, monetization, and retention. In other words, it’s when a product should be able to sell itself.

Here are some key features of a product-led growth strategy:

• Company-wide alignment: Everyone in the company, from product development to sales and marketing is aligned around the product as the most important source of sustainable and scalable business growth.
• Customer-centricity: A product-led growth strategy relies on customer feedback for product development. They focus on analyzing usage data and collecting feedback from customers to develop new features and adjust the current ones.
• Faster growth: Companies focusing on a product-led growth strategy are growing faster than companies that don’t. According to Bain, a product-led growth strategy was found to result in greater market share and faster revenue growth

So how to set up your product-led growth strategy? Upselling is a good first step.

How to start product led growth with one-click upsells?

What are one-click upsells?

Instead of forcing your customers to enter their payment details to purchase again, one-click upsell functionality makes it possible for them to click the “buy” button once.

In other words, one-click upsells make it easy for your customers to buy.

According to our case study, the seamless one-click upsell functionality can double your revenue.

But what does that have to so with starting a product-led growth strategy?

Let’s see….

1. Upsell premium services to build customer loyalty

Many companies choose to upsell premium customer support, installation or customization services, customer management services, etc.

Upselling premium services allows for many marketing and product development opportunities that result in increased customer lifetime and loyalty:

• Better customer experience: Premium services often come with additional features and added value that can greatly improve the customer experience.
• Personalization and customization: Premium services aim at meeting specific customer needs. This can in return foster a stronger bond with customers. It also helps better understand your customers, collect their feedback and adjust your marketing strategy accordingly.
• Exclusivity: Service-based upsells tap into people’s natural desire for a higher status or belonging to an exclusive group. Your customers will feel a sense of attachment to the brand which fosters advocacy.
• Competitive advantage: Upselling premium services sets a company apart from its competitors. Customers who value the quality of your provided services will be less likely to switch to a competitor

Upselling premium services allows brands to provide enhanced value, create personalized experiences, and build a loyal customer base. 

2. Upsell coaching programs to educate your customers

Educating customers allows brands to help them succeed in their own businesses and get them to know your product better. This can help you achieve quite a few important marketing goals:

1. Customer empowerment: Coaching provides customers with valuable knowledge to enhance their understanding of your product. This in turn results in better customer satisfaction and engagement.
2. Relationship building: On-going education settings create a direct and personalized interaction between the brand and the customer.
3. More feedback: Interactions make sharing feedback easier. If your team regularly talks with your customers, they will stay informed on how they use your product, which problems they still seek to solve and how to adjust your product development accordingly. Understanding your customers’ pain points, areas for improvement, and emerging customer needs is key to creating a product-led growth strategy.
4. Brand advocacy: Educated customers who have benefited from coaching programs become advocates for the company. They are more likely to share their positive experiences and recommend the company to others.

A coaching program is pretty easy to set up. There are quite a few coaching themes you can use to avoid any additional set-up costs.

3. Upsell matching products and collect more feedback

Upselling complimentary products can naturally boost your revenue. But more importantly, upselling help you better understand your customers and how they interact with your product base:

1. Identify product gaps and opportunities: Knowing how your customers mix and match your various products helps you understand what additional features they tend to look for. This insight guides the development of a product-led strategy, focusing on meeting customer needs. Additionally, input from product operations can streamline the identification of product gaps by providing valuable insights into customer preferences, market trends.
2. Data-driven decision making: Making it easy to purchase additional products will encourage more customers to do that. This generates more data on various buying patterns. This, in turn, drives more informed decisions about product upgrades and pricing strategies. A data-driven approach helps ensure that the product-led strategy is aligned with current customer needs.

When starting a new store or introducing an innovative project, customer feedback will also help you better understand how to position your business in order to sell more.

How to set up 1-click upsells using PayKickstart

Paykickstart makes it incredibly easy to set up 1-click upsells. The functionality is already integrated into your sales funnel, all you need is to connect the appropriate Payment Gateway and to enable one-click upsells in your Campaign settings.

For 1-click upsell purchases to work correctly, the upsell product must be purchased using the same payment gateway as the main product.

Conclusion

Upselling can engage more customers in sharing feedback with you. This is fundamental to creating an effective product-led growth strategy. Depending on your product, you can upsell premium services and/or private coaching. 

Both of these upsells will foster stronger relationships with your customers, build brand loyalty and collect more feedback. Upselling also helps you better understand buying patterns by giving you more insight into how your customers combine your products.

Want to See How PayKickstart Can Add Product-Led Growth to Your Business with 1-Click Upsells?

Ann Smarty

Ann Smarty is the Brand Manager at Internet Marketing Ninjas, as well as co-founder of Viral Content Bee. Ann has been into Internet Marketing for over a decade, she is the former Editor-in-Chief of Search Engine Journal and contributor to prominent search and social blogs including Small Biz Trends and Mashable. Ann is also the frequent speaker at Pubcon and the host of a weekly Twitter chat #vcbuzz

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