Innovation and Technology

Drive Customer Growth

Published

3 weeks ago

January 1, 2025

The Five Steps To Drive Customer Growth With Product-Led Growth

Long practiced in emerging companies, product-led growth (PLG) has been touted as one of the fastest ways for B2B firms to grow. Perhaps even more compelling than rapid growth is the lower cost of sales in PLG motions. Because the methodology is based on simplified products targeting individual users for self-serve purchase, initially, there is no need for business development reps or sales outreach.

Drive Customer Growth with PLG: A 5-Step Approach

While traditional sales-driven firms may not have traditionally employed PLG, they can still benefit from this approach by adopting PLG strategies that complement their sales efforts at each stage of the customer growth trajectory — and drive faster and more profitable growth. Here are five steps to drive customer growth with PLG:

Step 1: Drive User Growth to Seed the Market

PLG can generate rapid user growth by relying on users to do the selling. Offer free trials and make sure that the product has a network effect where users gain more value the more others are using it — by collaborating within their team (e.g., Jira), across their company (e.g., Slack) or even across companies (e.g., Calendly). Create user referral programs where users are incentivized to share the product. These network and viral effects can drive “exponential growth” across markets and accounts.

Step 2: Turn Heavy User Companies into Product-Qualified Accounts

With users seeded across multiple companies, segments, and even regions, it’s easy for PLG organizations to identify the accounts where more users have adopted their product. Accounts with enough active users become new opportunities in the pipeline for a sales rep to close. This process is typically less costly than traditional top-of-funnel marketing efforts, and these product-qualified accounts are considered to be “better than the best” of traditional pipeline opportunities.

Step 3: Leverage Product Telemetry to Optimize the Experience and Build Loyalty

A product that delivers fast time to value is foundational to PLG success and will help drive growth and retention for all selling motions. Build in product analytics so you can pinpoint user friction and optimize the time and effort it takes users to achieve their desired outcomes. This type of product telemetry can be used across small and simple or large and complex software modules and is instrumental in improving the user experience and building ongoing loyalty.

Step 4: Use In-Product, Personalized Messaging to Upsell Customers to Higher Tiers

In PLG motions, the product is the primary marketing and selling method. Create contextual, personalized messages that both provide tips for specific activities and showcase additional offerings that could extend the value that users receive. In the context of existing workflows, alert users to new features, product extensions, or higher-tiered offerings. Offer trials for premium capabilities to make it easy for users to experience the value before expanding their purchase.

Step 5: Combine Product- and Sales-Led Efforts to Expand into New Buying Centers

Now that you’ve set up a PLG motion, use it to extend to new buying centers with the support of traditional sellers. Account teams should scout out new buyers and identify new use cases for offerings within accounts. Gain cross-sell business through PLG motions using trials and referral programs to incentivize users to share across buying centers.

Conclusion

PLG strategies, while practiced successfully at smaller firms, have become additional arrows in the toolkit of go-to-market practices for many larger B2B firms. Pursuing a bottom-up PLG strategy in conjunction with traditional sales efforts has been shown to have the best results for rapid and scalable revenue growth. Just look at the success of Atlassian, Airtable, Dropbox, Calendly, HubSpot, and others to see how well the PLG and sales combination works.

Frequently Asked Questions

Can traditional sales-driven firms benefit from PLG strategies?
- Yes, PLG strategies can be used to complement traditional sales efforts and drive faster and more profitable growth.
What are the advantages of PLG over traditional sales-driven approaches?
- The cost of sales in PLG is lower, and the methodology is based on simplified products targeting individual users for self-serve purchase.
How can PLG be used to expand into new buying centers?
- Use product- and sales-led efforts to scout out new buyers and identify new use cases for offerings within accounts, and leverage trials and referral programs to incentivize users to share across buying centers.

Innovation and Technology

Building a Thriving Innovation Culture

Published

1 hour ago

January 22, 2025

WORxK Global News Team

Building an Ecosystem for Innovation

Introduction

To ensure their companies stay innovative, leaders need to create an ecosystem that allows winning ideas to consistently emerge. In two decades of strategy consulting and research, the authors have learned that building such an ecosystem requires developing capabilities for exploring new ideas, experimentation, accepting failure, and working with external partners.

Exploring New Ideas

The first step in building an innovative ecosystem is to encourage employees to explore new ideas. This can be achieved by:

* Providing a platform for employees to share their ideas and get feedback from others
* Offering training and development opportunities to help employees develop their creative skills
* Fostering a culture of experimentation and calculated risk-taking

Experimentation

Experimentation is a critical component of an innovative ecosystem. This involves:

* Encouraging employees to try new things and learn from both successes and failures
* Creating a culture that values experimentation and learning from failure
* Providing resources and support to help employees experiment and innovate

Accepting Failure

Accepting failure is an important part of the innovation process. It allows companies to learn from their mistakes and improve their approach. To accept failure, companies must:

* Encourage a culture of experimentation and calculated risk-taking
* Provide resources and support to help employees learn from their mistakes
* Celebrate the lessons learned from failure and use them to improve the innovation process

Working with External Partners

Working with external partners is another important aspect of building an innovative ecosystem. This can include:

* Collaborating with other companies, startups, and research institutions to access new knowledge and expertise
* Partnering with suppliers and customers to co-create products and services
* Engaging with the broader community to stay up-to-date with the latest trends and innovations

Conclusion

Building an ecosystem for innovation requires developing capabilities for exploring new ideas, experimentation, accepting failure, and working with external partners. By implementing these strategies, companies can create an environment that fosters innovation and allows winning ideas to consistently emerge.

FAQs

Q: What is the most important aspect of building an innovative ecosystem?
A: Encouraging employees to explore new ideas and experiment with new concepts is key to building an innovative ecosystem.

Q: How can companies accept failure in the innovation process?
A: Companies can accept failure by encouraging a culture of experimentation and calculated risk-taking, providing resources and support to help employees learn from their mistakes, and celebrating the lessons learned from failure.

Q: Why is working with external partners important in building an innovative ecosystem?
A: Working with external partners provides access to new knowledge and expertise, allows for co-creation of products and services, and helps stay up-to-date with the latest trends and innovations.

Innovation and Technology

Staying Connected: The Top Communication Tools for Hybrid and Remote Teams

Published

5 hours ago

January 22, 2025

WORxK Global News Team

Staying Connected: The Top Communication Tools for Hybrid and Remote Teams

In today’s fast-paced and constantly changing work landscape, staying connected with your team is more crucial than ever, especially for hybrid and remote teams. With the rise of flexible work arrangements and virtual collaboration, communication tools have become an essential component of success. In this article, we’ll explore the top communication tools that can help hybrid and remote teams stay connected, productive, and successful.

The Importance of Effective Communication

Effective communication is the lifeblood of any team, whether working together in-person or remotely. Without clear and open communication, teams can quickly become disorganized, frustrated, and ultimately, inefficient. In hybrid and remote teams, communication tools are essential for ensuring that all team members are on the same page, can access important information, and can collaborate seamlessly.

The Top Communication Tools for Hybrid and Remote Teams

### Video Conferencing Tools

* Zoom: A popular video conferencing platform that allows teams to hold virtual meetings and collaborate in real-time.
* Google Meet: A simple and easy-to-use video conferencing platform that integrates with Google Calendar.
* Microsoft Teams: A communication and collaboration platform that includes video conferencing capabilities.

### Instant Messaging Apps

* Slack: A popular instant messaging app that allows teams to communicate in real-time, share files, and collaborate on projects.
* Microsoft Teams: In addition to its video conferencing capabilities, Microsoft Teams also offers instant messaging and file-sharing features.
* Discord: A communication platform that’s popular among gamers, but also suitable for business use, with features such as voice and video chat, screen sharing, and file sharing.

### File Sharing and Storage

* Dropbox: A popular cloud storage service that allows teams to share and access files from anywhere.
* Google Drive: A cloud storage service that allows teams to store and share files, and integrates with Google Workspace apps.
* Microsoft OneDrive: A cloud storage service that allows teams to store and share files, and integrates with Microsoft 365 apps.

### Project Management Tools

* Trello: A visual project management tool that uses boards, lists, and cards to track and manage tasks and projects.
* Asana: A task and project management tool that allows teams to create and assign tasks, track progress, and collaborate.
* Basecamp: A comprehensive project management tool that includes features such as scheduling, time tracking, and file sharing.

### Virtual Event Platforms

* Hopin: A virtual event platform that allows teams to host webinars, conferences, and meetups with up to 10,000 attendees.
* Demio: A virtual event platform that offers features such as webinar hosting, attendee tracking, and analytics.
* BigMarker: A virtual event platform that allows teams to host webinars, conferences, and meetups with up to 10,000 attendees.

### Virtual Whiteboarding Tools

* Mural: A virtual whiteboarding tool that allows teams to collaborate and brainstorm in real-time.
* Google Jamboard: A digital whiteboard tool that allows teams to collaborate and brainstorm in real-time.
* Microsoft Whiteboard: A digital whiteboard tool that allows teams to collaborate and brainstorm in real-time.

### Communication Analytics Tools

* Mixmax: A communication analytics tool that provides insights on email engagement, meeting effectiveness, and more.
* Chartbeat: A communication analytics tool that provides insights on team activity, communication patterns, and more.
* Zoom Analytics: A communication analytics tool that provides insights on meeting activity, attendee engagement, and more.

Conclusion

Effective communication is essential for the success of any team, regardless of whether they’re working together in-person or remotely. The tools listed above are just a few examples of the many options available to help hybrid and remote teams stay connected and productive. By choosing the right communication tools, teams can improve collaboration, reduce misunderstandings, and achieve their goals. Whether you’re just starting to transition to hybrid or remote work, or are looking to enhance your existing team’s communication skills, these tools can help.

FAQs

**Q: What is the most popular communication tool for remote teams?**

A: The most popular communication tool for remote teams is Zoom.

**Q: What are the benefits of using a project management tool?**

A: The benefits of using a project management tool include improved organization, increased productivity, and enhanced collaboration.

**Q: Can I use a video conferencing tool for personal or professional use?**

A: Yes, most video conferencing tools can be used for both personal and professional use.

**Q: How can I determine which communication tool is best for my team?**

A: You can determine which communication tool is best for your team by considering factors such as team size, communication needs, and technology infrastructure.

Innovation and Technology

Record-Breaking DDoS Cyberattack

Published

7 hours ago

January 22, 2025

WORxK Global News Team

Cloudflare Mitigates Largest DDoS Attack on Record

Cloudflare has mitigated the biggest distributed denial of service (DDoS) attack on record, according to a new report. The DDoS attack, which hit an East Asia-based telecoms firm last year, reached 5.6 terabits per second (Tbps) and lasted for 80 seconds. It was comprised of a botnet of 13,000 devices taken over by the Mirai malware, according to Cloudflare’s blog.

DDoS Attacks — Growing In Number And Getting Faster

DDoS attacks are increasingly common. Last year, Microsoft confirmed that an Azure outage on July 30 lasting nearly 10 hours was triggered by a distributed denial of service cyberattack. Overall, Cloudflare blocked around 21.3 million DDoS attacks in 2024, a 53% increase on 2023. The number of DDoS attacks exceeding 1 Tbps grew 1,885% in Q4 from Q3.

Ransom DDoS Is On The Rise

In the final quarter of 2024, Cloudflare observed a surge in Ransom DDoS attacks, where adversaries try to extort money by threatening to take down their targets’ web properties or networks. China maintained its position as the most attacked country.

Conclusion

As DDoS attacks surge, causing outages and worse, it’s important to get the cybersecurity basics right. Understand your service, the risks associated with losing access to it, and ensure you are as resilient as possible to avoid being hit in the first place.

Frequently Asked Questions

What is a DDoS attack?
- A DDoS attack is a type of cyberattack where a website or service is flooded with traffic, making it unusable.
What is Mirai malware?
- Mirai is a type of malware that takes control of devices, such as IoT devices, to launch DDoS attacks.
How does Cloudflare mitigate DDoS attacks?
- Cloudflare uses its distributed defense systems to detect and mitigate DDoS attacks autonomously, without human intervention.