Growth Products: Generating Revenue, When To ScaleIn my career, I’ve focused mostly on enterprise products. Unlike consumer-facing products, there are different ways that product teams feedback to build growth products. While the engagement process may be different, I’ve learned a few lessons along the way that product teams can use in gauging where to grow revenue and when to start scaling up. Unlike consumer products, the sales cycle for enterprise products is much longer and takes time to cultivate. As a result, it’s difficult to get timely feedback to inform your product development process. This applies both to customers and your sales team – as it’s critical to understand the needs of both groups.
That said, the most critical task that product teams should solve for is getting users to sign up and maintain retention. Ultimately, engaging users and keeping them active on your platform is the surest way to drive revenue. Most importantly, it’s much less expensive to keep customers on board than it is to go out and find new customers.