SaaS Marketing: A Complete Guide to Market your SaaS
For Software as a Service (SaaS) companies, marketing is one of the important areas for progressive growth. Growth is directly dependent on customers. However, applying the right Saas marketing techniques can be a real challenge for most companies.
When you are selling SaaS, marketing is a completely different game. In traditional marketing, you have a product to display and prove your point. In SaaS, you need a dynamic approach and the right communication to prove your point.
In this blog, we will formulate some SaaS marketing techniques. We will also develop the right strategies to gain customers. In addition, we will identify priorities and understand how to measure success.
What is SaaS Marketing?
SaaS is used to describe the distribution method of software applications. Instead of downloading and running the software on individual computers, SaaS aims to make Software accessible through the internet.
SaaS marketing is a linked term for action taken by SaaS companies to promote their product. It is different since you are promoting an intangible asset. You want to convince people about a product that has no physical existence.
Challenges of SaaS Marketing
Once you understand your product is different, you can analyze the challenges associated with it. The marketing is based on growing a customer base and creating awareness of your product. Traditional marketing focuses on brand promotion and the physical involvement of the product. With SaaS, you have to convince customers about the requirements of your Software.
The first challenge is to convince the customer about the necessity of the product. Next, even if you can sell the product, you have to ensure that the customer stays with it for a long time. The main concern is to convince your customer to buy, use your Software and stick to it. SaaS marketing must be able to fulfill all the needs of the customers. Ideally, it would be best if you were the one-stop solution for all software-related problems.
Another problem is to outshine all other cloud services already in the game. It would be best if customers are convinced that your services are better than others. The strategy should find customers, persuade them and ensure they don’t leave your services.
Why is SaaS Marketing Required?
Having a marketing strategy for SaaS business is important. It lays a foundation for marketing work for the clients. SaaS marketing must outline the company’s goals, buyer’s persona, content plan, and tracking the buyer’s journey.
One of the main reasons for a marketing plan is to achieve your maximum potential. It entails breaking down the number of customers you aim to acquire in a given time. Reaching your goals needs a correct approach and a plan in place.
Here are a few reasons why companies need a SaaS marketing plan.
- Making a written plan is easier to implement on the ground.
- It keeps your team focused on your goals.
- Helps in identifying gaps in training and acquired skills.
- Helps in setting aside a budget for marketing.
- It will help you identify the right market and potential customers.
5 Best Saas Marekting Strategies
The main flaw with SaaS companies is focusing on rapid growth and short-term gains. It is the main reason why more than 90% of companies fail within three years despite showing initial growth. The reason is unfair marketing practices and not making a long-term strategy.
The mantra is to grow slowly and steadily instead of fast-paced growth and to collapse after some time. While creating a SaaS marketing strategy, we must find answers to these three questions.
- How will the marketing strategy help in getting customers?
- How will we showcase our service so that they are convinced to buy?
- What methods will be required not to lose clients and succeed in making new ones?
All our SaaS marketing strategies must stick to finding these three answers. All these designed strategies will keep your SaaS services ahead in the race. Here are some proven strategies for assured growth.
1. Give Customers Free Trial
Customers want to try services before they are convinced of their usage. Give them a free trial, and be rest assured that they will buy it if your services are good. Moreover, signing for an unfamiliar service for a year or six months is scary. Giving a free trial builds trust, and a potential client is added to your mailing list.
A second way is to give a free version with limited features. Many platforms like Grammarly and Slack adopt this strategy to hook clients. Once customers download your free version, target them with emails and messages informing them about new features or discounts and offers.
2. Use SEO to Succeed
Saas marketing must also focus on SEO. Customers use search engines to look for the best Software. Your chances of getting discovered are bleak unless you have all SEO parameters in place. With little SEO optimization, you have a good chance of getting discovered.
Create a catchy title with the right keywords to grab attention. Give a good description with a screenshot of your service. In addition, give a detailed report with explanatory videos on your website. It is also a good idea to spend some money on ads. Staying on top of the search page matters for your product’s discovery and sale.
3. Offer Flexibility in Pricing
Customers should have the option only for the service they use. Don’t make your customers pay for all the features for an extended duration. If a client wants to buy for a month, give them if they are interested only in a certain service and provide them at a reduced cost.
A good way is to offer four to six plans. The basic plans can have the minimum cost with basic features. Features and cost increase with the plan. Another strategy that you can use here is giving discounts for longer-duration packages. Give a 10% discount on annual packages, but if someone buys a three-year plan, give them a 50% discount. The idea is to retain customers for a longer duration.
4. Target Customers with Social Media Marketing
The potential of social media can never be underrated. Social media is your digital marketplace for selling digital products. In addition, social media can become a platform to interact with your clients.
SaaS marketing clubbed with social media puts you in upfront of billions of people. The chances of getting potential customers are high provided you deliver the right content. Publish meaningful content with refined pictures and catchy slogans to attract visitors. Give a voice and an identity to your brand so that people start recognizing it.
5. Value your customers
Retention of customers is important for growth, and happy customers are your loyal clients. Your work doesn’t finish but starts once you have a customer. Contented customers recommend your services to others provided they vouch for your service.
The best way to do this is to share unbiased and authentic reviews. The review matters if your customer is a known figure or a high-profile client. A few negative reviews do not count if many people are saying positive things. You can give your customers referral codes or a loyalty bonus to keep them happy.
Keep your communication channel open with your customers. It can be a regular email or your newsletters with valuable information. However, do not spam them with too many emails.
In a nutshell, your services count, and no strategy will keep you afloat unless your services are up to the mark. SaaS marketing is an evolving industry that has a long way to go. With a well-thought marketing plan and keeping all your strategies in place, you can show great results.
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1. Do we need to invest in brand building for SaaS marketing?
Building a brand is the most effective way to establish yourself for the longer term. Your brand building should be deliberate and have a consistent growth plan. This way, you will set yourself faster and better than your competitors. If you think all your marketing efforts are not paying off, try focusing on building your brand. Today for SaaS companies, building a brand is the best way to succeed.
2. What Would be the right pricing for a SaaS company?
The users will provide the best answer. To find out, you can conduct a survey and conclude. People often feel the pricing is inflated with SaaS companies. You can also make a price comparison with companies offering similar services. The process also varies according to the duration and the geographic area. Consider these two factors before you decide on the price.
3. How can SaaS marketing help in sales?
Marketing is designed to generate leads and sales to close it. Marketing supports sales by providing not only leads but also information to convert prospects into customers.