The rise of the product-led growth (PLG) model is causing many companies to rethink their overall growth strategy. They’d be crazy not to.
“Firms that rely primarily on PLG are growing faster than companies with limited or no PLG focus and are almost three times as likely to have gained market share in recent years,” according to Bain Research.
PLG companies are also more likely to be valued by investors compared to those ho-hum MLG and SLG ones. But guess what? Look closely at those companies and you’ll find that many rely on a hybrid approach, combining the best of all worlds.
Kameleoon interviewed over 150 companies in the US and the UK to explore the dynamics between product-led and marketing marketing-led companies regarding growth and experimentation. [Find the research here].
Each company was asked how successful they felt compared to their competitors and how much growth they expected over the next 12 months.
Have a look and see how closely (or not) your company resembles a leading company. 👇
Who’s successful? Who’s growing?
Product Managers believe they are winning. Product teams were far more likely than experimentation leaders, marketers, and engineers to report success and growth, indicating a strong link to strategic business impact.
Size matters. Mid-sized organizations, particularly those with 1,000 to 4,999 employees, report a higher perception of success. But size is double-edged. Companies with “only” 500 to 999 employees exhibit a notably optimistic outlook toward growth.
Both in terms of success and growth expectations, mid-sized organizations (by employee count and revenue) seem to have an edge, possibly due to their agility and potential for scaling.
Show me the money. Companies with annual revenues between $300m to $399m are most likely to report success. Organizations with smaller to mid-sized revenues ($20m to $99m) report the highest expectations for growth.
Pandemic pay off? The Healthcare sector reports the highest perception of success, followed by sectors like E-commerce. Healthcare stands out again with significant growth expectations.
What do product managers do differently than marketers?
Product teams are 3x more likely than marketing teams to believe their company is the leader in their industry, according to the Experimentation and Growth Survey. James McCormick, who led the survey on behalf of Kameleoon, highlights what sets them apart here.
I’d love to hear from you. I’m interested in stories of teams working (or not working together) on growth and experimentation. Please reach out.