Posted on by Vishnu Devarajan
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Netcore Cloud’s PLG Mindset Event in Malaysia Showcases the Power of Product-First Approach for Business Growth
08 Mar
Netcore Cloud, a prominent Software as a Service (SaaS) provider, hosted The PLG Mindset event at the luxurious Eastin Hotel in Kuala Lumpur, Malaysia, on February 23, 2023. The event was centred around product-led growth (PLG) and how businesses can leverage this approach to drive growth.
Product-led growth (PLG) which is a go-to-market strategy that emphasizes the use of the product as the primary driver of customer acquisition, retention, and expansion has been increasingly gaining the attention of brands. In a PLG strategy, businesses prioritize the product experience and its ability to drive customer adoption and growth, rather than relying on sales and marketing efforts alone.
With a product-led approach, therefore businesses aim to create a product that is so valuable and user-friendly that it drives customer adoption and growth through positive word-of-mouth recommendations, product referrals, and increased user engagement.
This approach often involves offering a free or low-cost version of the product, allowing users to experience the value of the product before upgrading to a more advanced version with additional features and capabilities.
Product-led growth strategies prioritise customer experience, and the goal is to create a product that drives customer engagement and loyalty. This approach is particularly effective in the technology industry, where customers expect a user-friendly and intuitive product experience.
By focusing on the product, PLG can drive sustainable growth by creating a virtuous cycle of customer acquisition, retention, and expansion.
With a focus on unlocking product-led growth strategies and insights, The PLG Mindset event by Netcore Cloud featured an impressive lineup of speakers who shared their expertise with the attendees.
The event aimed to help brands deliver exceptional experiences that drive revenue growth and retention. Among the brands that participated in this insightful event were Domino’s, Bonuslink, DoctorOnCall, Malaysia Airlines and FMT News.
On the stage, respected experts such as Linda Hassan from Domino’s Pizza Malaysia & Singapore, Waikuan Wong from Malaysian Airlines, Azeem Abu Bakar from FMT News, and Varun Atul Vashishtha from Beam Mobility presented their perspectives on achieving reliable and continuous revenue. They deliberated on diverse methods to utilize PLG as a means of enhancing revenue expansion and customer retention.
According to Waikuan Wong, data provides guiding principles but not the final decision, therefore, a more targeted approach is necessary for achieving effective customer engagement. This is where the PLG approach is most suitable.
Linda Hassan also chimed in, stating that while building brand equity is important, it is equally essential to focus on increasing customer equity. Customer equity can be improved by creating delightful experiences for customers, which in turn increases their lifetime value.
The event offered an outstanding chance for enterprises to gain valuable knowledge and discover how to attain product-led growth from distinguished industry specialists. Brands have consistently struggled with achieving a long customer lifetime value, and the PLG Mindset event shed light on the crucial steps required to achieve this.
As Azeem Abu Bakar from FMT News highlighted, maintaining the discipline to continuously “wow” customers is critical in creating the most effective customer retention strategy.
