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Today's newsletter is by my friend and SaaS marketer Natalie Marcotullio.
Natalie is a marketer at Navattic and a PLG pro.
I've asked her to share some of her top insights on PLG trends she's seeing.
Hi, I'm Natalie Marcotullio, Head of Growth at Navattic.
Today I'm going to walk through how companies like Ramp, Dooly, Mixpanel, Fivetran, and more are using interactive demos to increase the number of eyeballs on their products.
I got involved with Navattic because I was the go to software buyer at my past company. I felt like I spent hundreds of hours evaluating software that was never going to be a good fit. All because I was never able to see the software until my third or fourth call with a sales rep.
The process typically went like this:
- Book a demo on the site
- Wait for an SDR/BDR to get back to me with the availability
- Get on the first call and do a qualification call
- Get on a second call - finally see a small glimpse of the product that is being run by a salesperson and not at my pace
Which meant most of the time it took a few weeks to finally see the product, and I never got to play around with it myself.
Looking into the data, this is a pretty common experience across most B2B sales motions. On average:
- 1 in 50 books a demo
- 1 in 500 becomes an opportunity
- 1 in 1000 signs the contract
This means only .2% of website visitors will ever see your product, and even less experience any value from it.
But what about if you have a product demo video on your website?
In this LinkedIn post, Peep Laja - CEO Of Wynter shared that only about 10 - 15% of page visitors will watch a product video.
So even if you have a video only about one in ten website visitors will understand what your product does.
When looking into this data I assumed it had to be better for PLG companies. So I asked some PLG experts and found on average:
- 1 in 100 website visitors will sign up for a trial
- 1 in 300 website visitors will become an activated trial
Andrew Capland, Founder and PLG coach at Delivering Value goes over these numbers for PLG in this tweet.
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So even though PLG is slightly better than sales-led, that still means a vast majority of website visitors are never experiencing any of your product's value.
The next wave in product-led growth
After collecting these numbers, we wanted to see the impact that interactive demos had on product exposure. In our State of the Interactive Product Demo 2023 - we looked at over 3000+ demos built on our platform to answer this question.
On average we found:
- Demos have a 25 - 40% engagement rate
- Demos have a 5 - 15% conversion rate to free trial or demo
Compared again to demo videos and traditional CTAs:
- Only 10 - 15% of site visitors watch a video
- Only 2 - 5% of website visitors convert to book a demo or free trial
With interactive product demos, the numbers totally switch.
1 in 3 site visitors see the full value of your product.
And get to the product aha moment before every signing up for a trial or AE call.
It's important to note - interactive demos shouldn't replace free trials or live demos (in the same report we found 25.88% of interactive demo CTAs lead to a free trial or demo request).
Instead, use them to activate and educate free trials before they even jump into an account. Or get prospects excited about your product from the first moment they see your website. Let them see the value they are going to get before they put in the work of setting something up or talking with your team.
If you're looking to implement interactive demos, below are some key tips to consider:
Tip #1: Keep the intro short and include multiple conversion points
- The intro section for top-performing interactive demos was on average 15 steps.
- The highest number of CTA clicks were at Step 7 and Step 15.
Tip #2: Place your interactive demo CTA or embed high up on the landing page
- The majority of interactive demos are linked out via a CTA button (55.8%), followed by embedded on a landing page (39.6%).
- Interactive demos higher up on the page had 3.5x the engagement rate of those below the fold.
- If you embed the demo lower on the page, use a scroll button that jumps you to the demo.
And read our full State of the Interactive Product Demo 2023 for more tips.
What did you think?
—Corey
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