Have you imagined marketing something that has no physical existence? It seems challenging, right? It indeed is! But we also have been in a world where digitalization and automation are on the surge of growing phenomenally.
Have you imagined marketing something that has no physical existence? It seems challenging, right? It indeed is! But we also have been in a world where digitalization and automation are on the surge of growing phenomenally. And that is why it’s been quite easy for SaaS marketers to connect with their target audience.
However, the question remains that how will you establish trust and get your customers excited about something that they have not even seen? We guess this very concern gave rise to the most widely used SaaS marketing strategy, which a Free Trial of the product. We will deep dive into it in the later part of this blog, but just to give you a gist about it – it plays a vital role in marketing your product to the customers by allowing them to explore it for a period of time before making the purchase decision. And this strategy, for sure, does not work wonders in a traditional marketing environment.
How is SaaS Marketing Different?
SaaS approaches challenge even the professionals with the most expertise in marketing. Although many of the techniques employed to sell software-as-a-service resemble those used in other types of online (and offline) marketing, factors such as value proposition, target consumer preferences, customer support, and distribution of information are notably different. And therefore, the marketing strategy for SaaS is way too different from traditional marketing strategies.
As marketers, we first tend to analyze the behavior of our prospects before and after making the purchase decision. But the process of making this decision is entirely different in a SaaS market. One of the key reasons is because of the subscription-based nature of the SaaS model.
Hence, you should have a more holistic approach, understanding how the overall marketing strategy impacts on your brand, revenue, customer satisfaction and retention, to ensure that you are on the right path to attain success. Sounding arduous? To take this burden off your shoulders, we have compiled the 10 best strategies to market your SaaS product efficiently. So, let’s dive into it:
10 Best Strategies to Market Your Saas Products
Develop A Strategy Specific to Your Product
The key to developing an effective SaaS marketing strategy is to be specific while promoting your product in the market. If your SaaS product is the only one of its kind, then it pretty much speaks for itself. When this is not the case, you might want to highlight what you serve better than your competitors in the market, which will, in turn, make it easier for your prospects and customers to understand the difference clearly.
However, your job does not end here. The SaaS experts suggest that you need to do much more than just explaining your features to your audience, considering the fast-paced and rapidly changing environment. You need to ensure your prospective clients that they are investing in a completely safe and reliable solution for their business. Always be ready to provide additional support not just at the time purchase but throughout the period of service.
Utilize SEO To Generate Leads
Using on-page SEO strategies, you can boost search rankings for your website and make sure that customers with a search question specific to your company are able to find it. You can also use SEO to build quality backlinks and drive referral traffic to your web site. It plays a vital role in generating leads that are relevant to your product and have a high probability of conversion.
All you need to do is identify the trending keywords that your targeted audience is currently using to find the solutions to their problems. Keep an eye on the loading time for your web page as people do not like to wait much longer. Also, a responsive site design will ensure that that your potential customer has an appropriate view of your website irrespective of the device he/she is using.
Embrace Freemium Policy
One benefit SaaS companies have over those with a more traditional business model is their ability to offer free trials. There is nothing to lose at the end of a trial period, whether a customer wants to go ahead with a paid contract. For example, look at Keka HR, an HR Payroll software SaaS product homepage.
In addition to this, you may also want to include free trial offers in your email content when you plan to shoot emails to your subscriber lists or run an email campaign. After all, it is in your best interest to remind them consistently about how convenient it is to do so.
Make Sign-up Seamless
If you want more customers to try your product, you need to remove as many constraints to the sign-up process as possible. Understand that asking for credit card information in a free trial sign-up could chase out the prospective customers.
People don’t like to fill out lengthy or complex registration forms and are more likely to leave halfway. You need to build forms that are simple and precise, by keeping requests for details to a minimum. The format of the sign-up form has a great impact on getting visitors converted as it acts as a landing page.
Discover Ways to Boost Activation
Having a customer to sign up for a free trial during the acquisition period is just half the fight. The other half gets people to use the product. Develop a strategic approach that helps you identify the actions that influence your trial users to get converted as your customers. And of course, these actions differ based on the product you are marketing, so make sure you create a strategy that is specific to your product, encouraging them to continue the journey ahead.
Offer Various Pricing Models
In a conventional model of sales, pricing may not sound much of a marketing tactic, but for a SaaS model, they go hand in hand. Having trial users to turn into paying customers is an enormous part of SaaS marketing strategies, and pricing plays a vital role in developing a strong foundation for this.
These pricing models will help you in creating a consistent flow of revenue for your business. According to a study, expansion revenue for subscription-based businesses accounts for less than 10 percent of monthly sales — meaning your performance largely depends on your ability to produce ongoing subscriptions. And hence, you may want to experiment with different pricing models to figure out which one is best for you.
Invest in Affiliate Marketing
Affiliate marketing works well for SaaS firms as it offers them a steady supply of leads. The greatest benefit that the partner system provides is that you just need to pay once you have closed the deal. In affiliate marketing, you will have the option of making recurring payments to affiliates. Such incentives encourage affiliates to bring in more customers as they will be reaping the benefits if the client stays with you.
However, you can also turn to your current customer base by offering them a commission if they are willing to recommend your product to others in the market. It’s no wonder that loyal customers will bring a lot of sales to the company.
Provide Better Customer Experience
That is perhaps the most important of all the SaaS marketing strategies advocated by experts. A smart way to offer a better customer experience is by personalizing the service as much as possible. You can also provide a live chat option on your website for solving customer queries when they interact with your website. This may help them better navigate the site and find answers to any queries that they may have.
Find the best support personnel, as your strategy could be thwarted by unprofessional employees. Your staff should be smart, courteous and patient towards your clients.
Increase Your Social Media Presence
Building a social media presence for your SaaS company is one of the best investments you can make for your own business. For instance, you can primarily consider LinkedIn, which is one of the powerful business platforms that experience high engagement of professionals from different industries. This will enable you to seamlessly target specific buyers and engage with a variety of content ranging from informative blogs to viral videos.
You will also be able to keep track of number shares, mentions or any engagement across various segments.
Ensure That You Get Featured on SaaS Review Websites
It won’t be wrong to say a lot that before making any kind of purchase decision, people first look for the ratings and reviews of that product. In the case of software as well, people research online and try to compare similar products before making any purchase decision.
To give your company more market visibility, you can try to get featured on trending review platforms in your business sector. You should reach out to the technical teams of the concerned website and provide them with all the required information about the product.
SaaS marketing is different for sure, but at the core, it’s still marketing. And the two most significant elements of a successful marketing strategy for any business are “a good product” and “an exceptional customer service.” A good product will ensure your clients that they are receiving value for their investment, and constant support from your service team will build trust, creating a way to develop a long-term relationship with them.
And its usually said that if you believe in what you are selling, it becomes even easier to convince your prospects!