Product Led Organisations
What is a Product Led Organisation? A business that makes its products the vehicle for acquisition and retention of customers, driving growth and influencing organisational priorities. If you've been in the Product led growth segment as…
What is a Product Led Organisation?
A business that makes its products the vehicle for acquisition and retention of customers, driving growth and influencing organisational priorities.
If you've been in the Product led growth segment as me for a while, you might start wondering as to how a product led organisation is different from the same. I found this really cool visualisation that resembles the fundamental difference between the two.
Product led organisations believe everything they do, leads back to the core product. The Product can be viewed as the nexus of the customer experience. This generally lead to increased efficiencies, faster innovation capabilities, greater collaboration and ultimately higher revenues for the business.
Product led tactics can help businesses of any sizes accelerate their digital transformation and improve their customer experience. There are a variety of examples from FMCG, banks that follow these practices.
So taking in an example, What makes Tesla Product led?
Tesla has historically focussed on creating a product experience rather than just making another car. If you notice the finer lines, you can see a clear case where people who buy Teslas talk about the experience of owning a tesla rather than just the model that they own, it could range from the self driving capabilities, sleeker designs to frustrations as range anxiety as well. This cohesiveness of an experience, keeps the product at the forefront of the company and allows the word of mouth do the advertisement.
Secondly, Tesla considers consumers' needs. Third, They sell directly to consumers, there's no third party dealer innvolved and in such a case, Tesla can inevitably control the end-to-end experience of purchasing and owning a car. Fourth, They deliver product updates seamlessly as updating an app on your phone. To continuously improve the experience over time, they collect the consumer data and analyze the same to iteratively keep things interesting of the same product.
Tesla, successfully transitioned an one-time event such as purchasing a car, into an experience.
