What are Product Qualified Leads? Wes Bush on the Metric Stack Podcast
🎙️ Wes Bush, CEO of ProductLed and bestselling author of “Product-Led Growth: How to Build a Product That Sells Itself,” joins Allan and Lauren on the Metric Stack Podcast.
This episode’s focus: Product Qualified Leads (PQLs). Wes explains that PQLs go a step beyond Marketing Qualified Leads (MQLs) and are determined by identifying users who show interest in a product and experience its value firsthand. PQLs are applicable beyond software companies and can be measured differently depending on the business.
Wes clarifies that activation is closely related to PQLs and can be considered a similar metric. Activation is the specific moment when users experience the product’s value, which can occur during the first use or multiple interactions. Tracking PQLs and activation aligns everyone’s interests within an organization to support user success.
Moving to the significance of this metric, Wes emphasizes that Product-Led Growth is a transformative business approach. Companies shifting from sales-led to product-led motions prioritize user experience and early value delivery. In many contexts, customers today prefer trying products themselves, as it is more efficient for them and doesn’t involve a salesperson. By focusing on PQLs, companies can ensure early delivery of customer value, ultimately leading to their success.
Tracking this metric allows companies to optimize the user’s journey and accelerate their path to value, ultimately building trust and loyalty.
Wes advises that optimizing for PQLs requires identifying the initial value and quick wins for users. Understanding customers deeply and designing experiences that deliver small, meaningful victories within the first few days or minutes is crucial. Companies can establish a strong correlation between PQLs and revenue generation by testing and refining these strategies.
Join Allan and Lauren on the Metric Stack Podcast as they delve deeper into the world of PQLs and the game-changing potential of Product-Led Growth. The full episode can be found here: https://www.klipfolio.com/metric-stack/episode/27/wes-bush
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