PLG CRM – Connecting Data Sources to a Sales Pipeline
In addition to connecting data sources, a PLG CRM platform can connect to data sources such as a sales pipeline. PLG focused CRM, like regular CRM, tracks accounts and users.
This data-driven approach allows reps to take action on accounts that have recently moved through the funnel. Accounts that have reached a certain milestone are referred to as Product Qualified Accounts (PQAs).
While many large organizations operate in silos, they are finding that a more collaborative approach is essential to providing the best possible customer experience. In fact, Inc. magazine defines a cross-functional team as a group of people who come from different areas of a company.
These teams can bring different expertise and insights to bear on specific problems or issues, which in turn will help to improve the organization’s decision-making process and increase efficiency.
In a recent article in Harvard Business Review, the Chief Revenue Officer of software company Segment explained how their PLG transformation process led to a 150% increase in annual recurring revenue in two years. To achieve this, the company’s leadership launched a company-wide transformation program to align its entire team with its buying audience and improve its go-to-market approach.
This type of collaboration helps to ensure that all departments understand the nuances of customer experience and can work together to achieve higher levels of customer satisfaction.
In the PLG model, CS teams play a vital role in nudging customer adoption across the organization. These teams help to identify new customers and nurture them to larger deployments. While PLG organizations are often focused on their sales teams, they do also have account development teams and support staff.
The latter is responsible for expanding the customer base and discovering leads within existing customers. In addition to these teams, PLG organizations often utilize account development reps (ADRs) to develop new customers.
Product-led growth is all about creating better products that satisfy customer needs. Customer engagement requires blending enterprise sales and product-led strategies. The process begins with a central platform that allows different team members to communicate with each other.
With this central platform, product teams and marketing and sales teams can easily collaborate on the customer experience, increasing revenue. When product-led growth strategies are executed well, customers will be excited and loyal.
Cloud data warehouses
The key to success in the modern PLG-focused CRM is to connect it to your data sources and data warehouse. You’ll need to know which accounts are at a certain stage of the sales cycle to be able to take action when it matters.
A cloud-based data warehouse can connect to your sales pipeline and help your reps understand which accounts are likely to become profitable over time. This information is essential for your sales team.
PLG CRM will tie into a cloud data warehouse and helps you visualize user activity. With this data, you can segment users and identify champions, current users, and those with decision-making authority. PLG CRM will help you measure the quality of your leads by mapping their journey over time, highlighting key moments that lead to conversion, and providing your sales reps with the next best action.
Depending on the type of business, a cloud-based data warehouse can help you better target your marketing efforts and make them more effective.
Using a cloud-based data warehouse is highly cost-effective, as it saves on overhead by leveraging open-source software. The cloud-based data warehouse can take advantage of the growing array of web services and artificial intelligence (AI) and machine-learning capabilities.
It can provide businesses with the information they need to make better decisions and even create new applications. There are many benefits to using a cloud data warehouse.
In addition to being an effective tool for PLG CRM, cloud-based data warehouses can improve the speed of data discovery and analysis. Cloud data warehouses also provide a central repository for all the data that the PLG team needs to make informed decisions.
For example, a cloud data warehouse can be connected to a customer’s existing reporting systems. It’s also important to know that a cloud data warehouse offers ongoing care maintenance, including data validation and backups.
In addition to having a cloud data warehouse, a cloud-based data warehouse can help SMBs leverage the multi-billion-dollar infrastructure of a large cloud provider. Not only does it provide superior reliability, security, and expertise, but it can also scale up and down as your business grows.
As long as your cloud data warehouse can accommodate the growth, you’ll be able to use it with cloud data warehouse.
Account lifecycle tracking
In order to be effective at generating high-quality leads, PLG companies must have a CRM that is capable of account lifecycle tracking. Account lifecycle tracking is critical to go-to-market teams since many leads come into a product and need to be accounted for when it comes to payments.
PLG CRM must provide frictionless integration with various other tools, such as customer data platform, cloud data warehouse, and Snowflake. In addition, this technology must enable go-to-market teams to understand which customers are using the product and how to improve their interactions.
Unlike typical CRM systems, PLG CRMs allow users to automate reporting. Unlike manual data entry, these tools also use product data to infer the stage of a customer. This information is valuable as it can be used to improve customer retention and minimize churn. In addition to automated reporting, PLG CRMs make it easy to create and send personalized engagement campaigns, and even add to engagement campaigns.
Some of the most popular PLG CRM tools are Slack, Miro, and Snowflake, which all allow prospects to experience the value of their product before purchasing it.
PLG SaaS businesses have a higher velocity than traditional CRMs, so they need to be able to support all types of leads. Smart automation is key to creating scalable workflows. PLG CRM supports intelligent automation through native and built-in integrations.
PLG CRM allows revenue teams to visualize accounts and close more deals. To maximize revenue growth, PLG SaaS businesses must have the right tools.
The ConvergeHub Account Management module enables authorized users to see the complete history of accounts. In addition to account creation, the ConvergeHub Account Management module lets users attach files and notes to accounts. This helps managers analyze the past performance of deals and identify up-selling and cross-selling opportunities. It also lets users set up loyalty programs and rewards.
Lastly, Account lifecycle management requires a high level of the omnichannel experience. Unless you can offer the ultimate omnichannel experience, your company cannot effectively manage and track the customer lifecycle.
Also, you can check Zoho CRM here.
Push notifications to sellers
With PLG CRM, your sales team can send out real-time push notifications to sellers to engage with high-intent customers right when they are ready to buy. Traditional CRMs don’t offer just-in-time interventions and aren’t built for this.
As a result, your sales team will see a huge boost in conversion rates. Those are the kinds of people who make your sales team successful.
A successful PLG email marketing campaign respects users’ time and rhythms. People want to receive information in real-time. In addition, they expect quick responses and direct communication. Thus, in-app chats are crucial. You can embed a chat tool into your products such as Drift or Intercom.
By doing so, you can provide customer support and smooth the onboarding process. And don’t forget to provide useful content to your users.
When your prospects click on your ad, a pop-up will appear asking if they want to receive push notifications. Of course, they must opt-in to receive them. But these are the types of prospects that will most likely respond positively to push notifications.
A good PLG CRM will connect all customer data sources, which means your sales team can focus on paid conversions. This will save your reps a lot of time.
The biggest difference between PLG CRM and Salesforce CRM is in the way these two products communicate with each other. Unlike Salesforce, PLG CRM is built for SaaS companies, which means it can support many different applications.
In addition to sales and marketing, it has built-in marketing-related features, ensuring greater collaboration between the two go-to-market teams. While Salesforce has a powerful data hierarchy, its data hierarchy is not designed for SaaS products, which is why it requires a consultant to add new components.