EDITOR’S NOTE: “The business value of being product led” is now “4 ways your product can accelerate your business,” with enhanced content for large and enterprise-scale teams.
Imagine a world where the product you sell saves you millions in operational costs each year, onboards hundreds of thousands of users on its own in a matter of minutes, and reduces the workload on your organization’s top talent.
This world isn’t too good to be true—it’s the reality of being product led.
The most resourceful organizations are turning to product-led strategies to meet growing customer expectations, scale how they engage with users, and become more agile and adaptable.
Until recently, the conversation around the benefits of being product led largely focused on growth and the customer buying journey. But the true value actually extends far beyond growth or customer acquisition alone, and is unlocked when teams leverage product-led principles across the enterprise.
We wanted to measure these outcomes to show organizations who haven’t yet started their product-led journey (and those looking to accelerate theirs) the rewards product-led strategies could help them reap. So we surveyed over 400 companies around the world and asked them to quantify the value they’ve experienced by becoming product led—and by leveraging product-led tools like Pendo.
Today, we’re thrilled to share the results of this study in our new report: The business value of being product led.
The results of our study reveal that enterprises achieve value from becoming product led in four key business areas:
Product-led companies retain more customers and revenue, with respondents reporting an average 15% increase in net revenue retention (NRR).
Product-led companies generate higher-quality leads and more engaged users, including an average 30% increase in qualified leads.
Product-led companies spend less time on manual support, data collection, and onboarding—including an average 27% reduction in user onboarding time.
Product-led companies make data-informed decisions to innovate and iterate faster. For example, respondents reported collecting product and customer feedback an average of 30% more quickly than they did previously.
Our findings also show that groups across the enterprise benefit greatly from leveraging product-led methodologies. From customer success (CS) to marketing to IT and beyond, becoming product led isn’t just for product teams—it’s a strategy that works best when it’s adopted throughout the enterprise.
Read the full report
Download the full report to discover even more insights on the value of becoming product led, get guidance on how to leverage product-led strategies in your own organization, and see success stories from organizations who’ve done it before.
You can also use these findings to build the case for why your business should invest in product-led tools and tactics, and to help inspire new product-led use cases throughout your organization.