Oct 24, 2022
Karen Chiang is a co-founder and managing partner of Ibbaka, a company that provides software and expertise to enable business growth by optimizing revenue performance through customer value management and talent optimization.
In this episode, Karen talks about service-led growth and its advantages over product-led growth in certain situations. She also tells us when and how to utilize it, along with the concept of collaborating with the customer throughout the journey in order to maintain and maximize the value of your product or services.
Why you have to check out today’s podcast:
- Learn the fundamentals of service-led growth
- Discover why service-led growth might be more useful to your business than product-led growth
- Find out how to maintain and maximize value by keeping in touch with your clients
“My piece of advice is for any business to recognize the importance that pricing can play in reaching their growth targets and objectives and making sure that they recognize that pricing has to be rooted in value”
– Karen Chiang
Topics Covered:
01:12 – How Karen got into pricing
01:53 – What is service-led growth?
04:09 – Product-led growth vs. service-led growth: Which one to use, and when
14:47 – Is service-led growth functional in industries other than consulting?
18:26 – How knowing the insights of your customers helps in increasing the value for your product
21:02 – The concept of customer journey in service-led growth
23:52 – The difference between product-led growth and service-led growth
26:54 – Karen’s pricing advice
28:24 – Connect with Karen Chiang
Key Takeaways:
“The reality is that not all customers are looking for product-led solutions.” – Karen Chiang
“If you are working with customers which are trying to solve complex problems, which require a more collaborative approach, then you are not in the business of product-led growth or you shouldn't choose product-led growth as your strategy. In fact, you should be looking at service-led growth.” – Karen Chiang
“Pricing is very linked, very much linked to the value that your customer cares about.” – Karen Chiang
“With service-led growth, you are not just thinking about the term of the platform once a year. You are, by nature, collaborating with your customer throughout the journey.” – Karen Chiang
People / Resources Mentioned:
- Ibbaka: https://www.ibbaka.com/
- Steven Forth: https://www.linkedin.com/in/stevenforth
Connect with Karen Chiang:
- LinkedIn: https://www.linkedin.com/in/karen-chiang-2623241/
- Email: karen@ibbaka.com
Connect with Mark Stiving:
- LinkedIn: https://www.linkedin.com/in/stiving/
- Email: mailto:mark@impactpricing.com