Product led growth is a strategy in which a company focuses on creating a product that is so compelling that it drives growth through user adoption and word-of-mouth referrals. Basically giving and amazing user experience and value that more and more users onboard the product.

Great example of Product led growth are Zoom, Figma, slack etc.

Instead of relying solely on sales and marketing efforts to acquire new customers, a product-led approach emphasizes creating a product that solves a real problem for users and delivers an exceptional user experience. By doing so, the product becomes a powerful marketing tool in and of itself, as satisfied users naturally share their positive experiences with others.

In business terms: Product-led growth is a business strategy that focuses on using a product to drive customer acquisition, retention, and expansion. In a product-led growth approach, the product is designed to be so compelling and user-friendly that it essentially sells itself through customer adoption and referrals.

Product-led growth typically involves a three-step process:

1. Acquiring users: This involves creating a product that is so valuable and user-friendly that it attracts new users through word-of-mouth referrals and organic growth.
2. Activating users: Once users have signed up for the product, the focus shifts to activating them and getting them to engage with the product in a meaningful way.
3. Expanding usage: Finally, the goal is to expand usage by encouraging users to invite others to try the product and by offering additional features and functionality that keep users engaged and coming back for more.

Overall, a product-led growth strategy can be a powerful way to drive growth and build a sustainable business that is driven by customer satisfaction and loyalty.