Why Miro Should Be More Popular?

Q: "What is one product in your opinion that's doing product-led growth right?"

I'd nominate Miro.

‍

Why?

Let's look at some topline stats (estimates):

• 6.5 Million registered users; 35K paying
• $57.2 Million in Revenue in 2020
• 3x Year-on-Year Growth
• Estimated Average Revenue per Employee = $140,000+

So, what is Miro doing right?

It's knocking some home runs in various PLG aspects:

Strong Product Strategy

• Market: Underserved startup & tech/marketing teams looking to collaborate effectively
• Gap: No clear winner when it comes to a visual tool for real-time collective brainstorming
• Value: Provide a compelling whiteboard experience
• Unique selling point: Real-time collaboration + Adapts to a wide variety of use cases
• Delight factor: Extremely intuitive, low learning curve, limitless canvas space, widget for every occasion

Acquisition: Freemium model

With a forever-free 3 board "Free" package available, a vast majority of Miro's registered base are still on the lowest rung of their offering.

Even though less than 1% have converted to paid, the freemium base represents massive potential energy and runway that can be monetized in the future.

This approach opens the top-of-funnel encouraging more and more people to give the tool a spin without any friction.

Note: It takes 4 clicks + a 3-field form to start whiteboarding on Miro.

Activation: Lightning time to value

Along with the simplistic acquisition journey, Miro's extensive library of templates bootstraps users to quickly adopt boards for their specific purpose.

It's one thing to be able to use the editor tools to craft something from scratch. It's another to be able to leapfrog repetitive steps and produce end results much quicker.

Retention: Exclusive data format

A Miro board is exclusive. You can export designs but not in a format that is editable in any other tool. Once the data resides on Miro, you either stick with the platform or lose the document. This lock-in serves as an effective retention hook.

Referral: Viral Loops

Miro employs an elegant growth loop to keep fuelling acquisition.

A board author can invite a bunch of others to edit a certain document. Once these users land on the board, they are invited to create one of their own, thereby, triggering recursive acquisition.

Community & Miroverse

Miro has a community-driven universe of best practices and templates. The forum keeps ever-expanding and the connectedness of the people around the product makes for a compelling unique asset for members to stick around.

Branding

Miro's branding efforts across LinkedIn, Quora & other channels exudes the personality of a friendly & suave counsel. The brand voice is consistent & campaigns possess a certain flair to appeal to a wide range of whiteboarding prospects. This helps in establishing trust and authority, and thus, more business at the top-of-the-funnel.