When we originally constructed the PLG Index, the goal was to highlight companies that were clearly pioneering a different go-to-market model which was far better aligned with what modern buyers wanted. At the same time, we wanted to define PLG in a simple enough way that everyone could understand and identify with their own eyes by going to a company’s website.
We came up with the following rubric in order to qualify or disqualify companies:
- Transparently displayed pricing
- A trial or freemium frictionless signup experience
The index continues to add companies every day and we continue seeing our search volume go up. Increasingly we are finding buyers visiting the site and using the index as a way to decide which companies they might want to work with when looking for a new software solution.
Trust Radius just put out a report that backs up a lot of what we believe to be true. Here are a few of the highlights.
Buyers REALLY Want Transparent Pricing and Frictionless Signup
An overwhelming amount of respondents (70%+) said the most important things for them in the buying process are Transparent Pricing and Frictionless trial. Ads, salespeople and analyst reports were all in the 10% range. This is a clear line in the sand on what we would consider to be a PLG motion versus a more traditional top-down approach. It also goes without saying that this is a far more efficient way to qualify yourself with a buyer versus the more expensive model of ads, salespeople, and analyst reports.
Show Your Pricing or Get Disqualified
The survey goes on that nearly 60% of all buyers cancel the vendor or delay them out of consideration if they can’t find pricing. These are opportunities that these software companies never even see!
Trust Radius has been doing this survey for years and they highlight that for the first time ever salespeople have dropped out of the top 5 information sources for the buyer and a Free Trial has moved from 5th place to 2nd place in the buying consideration.
What Can Sales Teams Do To Connect Better With The Buyer?
If you are a revenue leader or seller you could look at this data and think that increasingly the buyer wants you out of the process. But I think there is a better way to look at this survey. You should demand your company is set up for what the buyer wants. You should demand that company be:
- Transparent in their pricing so you aren’t missing deals
- Offer a frictionless trial so you can start to document, qualify and coach an account that is clearly interested enough to sign up for your product.
The data is clear that this is what buyers want. As a seller if you don’t have these two tools, you should find a company that does, because it seems quite clear you are going to sell a lot more at that company.