👋 Hi, I’m Kyle and welcome to my newsletter, Growth Unhinged. Every other week I take a closer look at what drives a SaaS company’s growth. Expect deep dive takes on SaaS pricing, product-led growth, public company benchmarks, and much more.
Product Qualified Leads (PQLs) are users who signal their buying intent based on product usage rather than just traditional marketing or sales qualification.1
Data consistently shows that PQLs convert at extremely high rates - often 15-30% - and are far more valuable than MQLs. The benefits of a PQL strategy include:
Higher free to paid conversion
Faster and more efficient sales process
Tighter alignment between product <> sales
Clear north star for product growth efforts
Sounds like a no brainer, right?
Unfortunately only one-in-four SaaS companies have rolled out a PQL strategy, a figure that’s unchanged from 2020, according to OpenView’s 2021 Product Benchmarks report. Too many companies haven’t prioritized it either because they don’t know how to do it or they think it’ll be too big of a lift relative to the return.
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