“Product-led businesses are ones that look at the product as central to the customer experience —not just part of it, not just a way to acquire things, but rather every function, every department can take advantage of the product to be more effective and more efficient in what they do,” Olson says.
Tatyana Mamut, Pendo’s senior vice president of new products, joined the company to drive innovation. She is currently working to give people managers a similar set of tools to those used by product managers in order to transform corporate cultures: “Companies that are truly product-led have much better efficiencies across the board internally, and they have much happier employees. Why? Because the companies that produce amazing products not only have better product-led growth in terms of virality, but they also have lower costs for recruiting, right? Because people want to work at companies that produce great products, right? So your recruiting costs go down. They have lower attrition, so your HR costs go down.
“Everyone in the organization starts thinking about and taking pride in the product experience. So there’s just efficiencies across the board as you shift to a product-led mindset, in finance, in HR, in recruiting … We’re not just seeing product-led growth from the product teams, but also from the marketing teams, from the sales teams, the finance teams, the HR teams. The product is leading across the board, so we see incredible culture being built that way, incredible efficiencies being built that way, and just lots of possibility.”
Learn more about Todd’s and Tatyana’s insights into building product-led organizations and their work at Pendo, as well as their thoughts on experimentation and Total Addressable Market, on this episode of This Is Product Management.
Download the transcript of this episode here:
Here are the highlights:
The importance of human insights and feedback
Defining product-led businesses
Experimentation and iteration in product-led companies