Juggling with Marketing your SaaS Product? Overwhelmed about how to handle the Saas marketing strategy of your company? We’ve got your back. When you have physically visible products, marketing communication can be a lot easier. However, if it is an online or intangible product, how would you market it? That is truly hard and needs extra expertise. This is where SaaS Marketing can bring on a change. If you think this is an easy hack to marketing, certainly not! It has its own share so challenges, but since it is new and readily accepted in the world of online digital marketing strategies, you too can benefit from it.
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SaaS is expanded as Software as a Service. This medium of marketing is used by businesses who wish to acquire their sales and lead conversions via the online mode of marketing. Using premium functionalities, various cloud backed applications, and creative digital marketing techniques, marketing goals can be fulfilled.
Here, the main focus is on software products and services that will be marketed digitally across the globe in pocket friendly subscription plans. This would encourage customers and business clients to try out the products in bite-size portions or rather in a more well managed manner.
Often people think that Saas Marketing is the same as digital marketing. But there is a small difference and understanding how it works will add to the effectiveness of your marketing strategies.
There is a feasible and highly revenue generative connection between the two of them. In fact, Saas Marketing is a part of digital marketing and it can be called SaaS Digital Marketing also. For those companies who have invested in Digital Marketing until now, you may have realized the way digital marketing can boost your reach to the target audience.
In business, each niche is different and has to be approached in various manners. Digital marketing cannot be utilized in all business niches with one strategy. That is why we ensure that our digital marketing strategies for each client are tailor made. For instance, no two customers may have the same opinion about your Saas product, e-commerce website, online website, etc. So, we curate the strategy to balance their perceptions and company marketing goals.
This has to be understood by the digital marketer. This is the foundation of each project. It focuses on three vital phases of customers. The phase before they buy the Saas product, the purchase and experience moment, and finally, after the purchase phase. This helps digital marketers guide the company marketing team to bring forth feasible subscription plans for the product or service at hand.
To start, a free trial can help the digital marketer reach out to more than 70% of prospective customers.
First Customer Retention. Then Customer Acquisition
Puzzled by what you just read? Well, traditionally if you see a lot of marketing work was aimed at bringing in many customers. Whether they would stay loyal, whether they would buy again, or whether they would spread the word of mouth, was not the prime concern of marketing. Sales had to be done and customer preferences were less considered.
Digital marketing goes the other way around. Taking customer satisfaction into consideration, the efforts help to present the Saas product in the way that a customer perceives. This helps to reach out faster and helps retain existing customers in an engaging manner.
Online Reputation Management (ORS) is the new way of building a company’s reputation on the online front. During the offline marketing days, word of mouth mattered. But today with eCommerce and global companies selling products, people look for Google ratings, testimonials, and review to understand their opinions and preference levels. So this way the reputation will be built and that will help grow the customer base.
SaaS SEO is a collection result driven sum of techniques to add value to the SaaS product, It will have to use keyword research, set a unique technical website structure to help crawl your website to the top of Google rankings, build value added website links, and also place useful content in the right manner.
The idea behind digital marketing is to increase sales conversions. So, with PPC or pay per click, is to encourage people to enter your sales funnel and make the buy. That said, the old marketing style was to hint at a ‘Buy Now’ and expect them to come your way. Today, Digital Marketing addresses the problem with a question based link’ “Easy CRM workflow” or “ Leveraged CRM system”. That would take them to the page fuss free or even to a query page. Here persuasion is less and convincing is more.
The world of videos is ruling the online marketing domain today. Whether you need to train your students or tutor your customers about your products, or even have a quick virtual conversation – a video is a way to go! That said, SaaS video marketing has the potential to increase product awareness, feel more connected with the customers, and drive in more conversions. For instance, if you have a Saas Financial product, and a Sales SaaS tool, these cloud based computing services will be useful for companies. Instead of fixing an appointment and having a sales meet-up, it would be much easier to add these tutorials, promotional short videos, explainer videos, and testimonials to your SaaS website. Add them to your YouTube, Linkedin, and other social media channels. People will watch them and connect with you. So, here you will get product purchases from multi-dollar companies and even small startups. Digital marketing expands your marketing horizons with less effort front eh company side. A result centric digital marketing agency will pave this path to the extent required.
Today, companies can create a wonderful SaaS product, but how will it sustain the interest level of the buyer always?
You will have competitors bringing forward better products, better promotional gimmicks, etc. How will that be handled?
For this, the Feature based SaaS Digital Marketing works well. Our data analytics will unbundle the features and requirements that probable customers have opted for in the past. This could be for competitor products or data derived from feedback forms’ opinions. Using this, new product upgrades and new features can be implemented over time. The strategy would be to continually inform the customers about such features, engage them with interesting giveaways, and add feature based social media interactions. Customers feel it is worthwhile associating with a SaaS product that introduces innovative products to the market.
Business is all about balance. You may have the right skillsets, and the right intuitions of what product will create a wave in the market, but still SaaS product marketing can fail. This is because many other aspects are not directly considered during the research. With SaaS marketing, understanding beyond the normal product features like customer perceptions, competitor strategies, global trends, and what the industry actually requires from such a SaaS product.
The right communication can often lend a personal touch to the marketing effort. When you think about value addition, even the way of communication and route or method of communication should be taken care of. How would you like to present your SaaS product? Through a promotional email, a YouTube video, a blog on Medium, or perhaps a paid ad on Linkedin, Facebook, and Twitter. The choice is yours completely. Just make sure that you have kept the idea or concept clear, transparent, and trustworthy. Most of all, communication should be creative. Saas companies have to ensure that the communication is worth every bit of investment and it earns quality leads
In the case of SaaS products, the business can grow only when it is backed by a community of buyers, faithful patrons, and teams working together with them. This means a meaningful and long lasting community needs to surround the SaaS business concept, and product, So with the help of SaaS Marketing, community building can be channelized through various loyalty programs, free trial sessions, talk shows, interactive social media posts, conversations, etc.
In the case of SaaS Digital marketing, good digital marketers work on a model to go much beyond the scope and features of the product. This is where the company team will get to know more about how customers like to experience a particular SaaS product. It is best to understand that at the end of the day, your products are to be handled by normal people. They may have suggestions or other personal and professional uses for your specific SaaS product. The marketing sales funnel should research how much people continue their daily lives, what issues they constantly incur, and how the SaaS can give solutions. This kind of Solution made SaaS marketing customer targetted and personalized, adding more value to your efforts.
In each community that you mingle or form, there will be both experts and learners. This interaction through your SaaS Marketing will foster more satisfied advocates for the product. Such virtual communities will bring about great professional relationships, and solve issues in a collective effort and everyone tries to pitch in their SaaS experience. This is the value addition that we seek to always give our customers. You get to learn more from such interactions and expand or upgrade the product with ease.
Today the IT market is home to plenty of SaaS tools that give the digital marketer a better picture of what the need is. The focus will be on how optimally solution drove the SaaS product is, rather than just highlighting the features of the product. The need analysis is a tailor made research process that will complete the cycle of product marketing at the macro level of planning.
Once the need analysis is done, elevate the way the product is presented to the world. Of course, your product is sure a great product, but how do your end consumers know that? The SaaS Marketing helps to present this. Have a content flow wherein you introduce the product, help the customer onboarding phase, and make their experiences count always. You can have interesting sigh- ups, innovative brand building stories on the web, and retarget customers with a personalized tone and drive in a customer cycle that goes on from month to month in a lucrative revenue generative model.
Your content always should speak volumes of value and not anything. After all, you need a customer base who sticks to you, right? Let the target audience know what you have in stock for them. The Saas content marketing strategy can use a wide bundle of choices like images, carousels, videos, explainer videos, conferences, small e-courses, online technical meet-ups, influence marketing tie-ups, newsletters, and elaborate news libraries, etc,
We’re definitely stopping here, as the options for innovative SaaS marketing are a lot out there. By the way, do have a stopover at your competitor pages to see their track of actions and thoughts. It is a great idea to watch and blend in what is good for you. However, you need not copy it, but adapt from it – showcasing the brand identity in your style.
To understand if your product is a market fit product, the Saas marketing strategy analysis should be undertaken. It helps to unveil the degree or the extent to which any IT product will meet the user satisfaction level. Here the service factor of your SaaS product is to be considered. Only if you have a product that will have repeated sales, then only will it thrive and share the success of your company. This applies to your startup and any sized company that you have.
This represents the number of website visitors who are willing to try your SaaS service. The entire sales funnel has to be checked thoroughly. The total count, the unqualified leads and qualified leads comparison, and finally when it turns into sales. The analytics will showcase when the visitor dropped out. The study will help to take measures and restructure the website to acquire the results.
This is the basic metric that even the team can watch. It will give an overall chart of multiple buyers and even individual buyers. You can see how they visited the website, the time spent, the bounce rate, and spot the problem and success trigger points of the website. To get such a deep understanding, you will need the understanding.
Instead of following the conventional style of marketing, this time, we suggest you understand how to work on SaaS marketing techniques and grow your business. In 2023, SaaS marketing is needed for B2B marketing, digital marketing, products, services and so much more. If you are venturing into a new product launch, this is something you need to consider. It paves the way to add value for your tangible and intangible products over a notable period of time
You may have got qualified leads. However how many of them are converted into positive sales? That is what SaaS marketing will help handle. So, choose the ones that meet your ideal customer criteria and then get in touch with them. Understand how they like to use your SaaS product, location, department, years of expertise, etc. Then approach with a curated strategy.
The CPL or cost per lead will help in B2B SaaS Marketing. Companies may use more than three channels to promote their product. So, each lead generation channel cost should be calculated, time taken to convert a random visit into a lead, and the diversity of media used to promote or educate the user. This will help to optimize the marketing costs for the long term.
Here you get to know the possible revenue the SaaS product can earn from a customer for the entire period of use. The cost calculation will give digital marketers a detailed understanding of the cost incurred, They use data analytics to dive deeper into this aspect.
Here the time and cost incurred to acquire a customer are calculated as CAC. The lesser time and cost incurred to convince a customer, the better the strategy used. So, this will help companies understand how value added to each of their features, customer service, and website structure is for a customer. However, if you have a new company or a relatively new SaaS product, then the initial days of business will have a high CAC. But with the right strategy, this will have to reduce.
In some cases, this is labeled as the customer attrition rate. If a customer loses interest in your product and stops being your customer, then it is called Customer Churn. The aim of every product marketer and SaaS marketer should be to create products and develop marketing strategies that genuinely reduce customer churn rates.
The acquisition cost and the lifetime value cost for obtaining and maintaining a customer are the vital aspects to find this ratio. This metric is an indicator of how much the product utility and marketing can able to retain customers. The smaller the ratio becomes, the ratio is a good one. This will include the old customers and the new ones too.
We agree the process of building, designing, and brainstorming your fabulous SaaS was hard enough, It deserves to be recognized and gain a customer base. Often the product marketing team may have all the best SaaS features, but if it is not marketed,m you lose the chance of acquiring customers.
This is why every SaaS company needs to partner up with SaaS Marketing experts, as they will help the company meet its marketing and sales goals in the most optimized manner. This is not like a buffet where you get to choose a couple of the best known digital marketing techniques for your company. You need to choose what suits your company, your SaaS product, and of course your target audience.
That kind of research and analytics is done by the digital marketing team. They bring forth the following plus points:
It’s not fancy talk, but results on your analytics sheet! The main reason has to be the first here. You can increase your sales only if you have the right SaaS marketing services tagged to your marketing efforts. The numbers indicate how you need to market your products in a super targetted manner.
Since the Saas marketing strategy involves a methodology to find where your audience is and how to approach them, the company will have better results in the long run. There is a calculated reasoning behind every action making your marketing investment counted for varying time periods.
Saas products are not an everyday buy by the common man. So, you need customers who are companies and big time entrepreneurs who are ready to use them for a long time. Use Saas Marketing experts to track out whom and how to contact and build the loop of conversations in the most professional manner.
No man is an expert in everything, but could be a Jack of all trades! So, why break your time, mind, and efforts over so many things, that yield nothing at all? It is best that Saas companies take the inputs from the digital marketing experts on how to feature the product, note the customer preferences from analytics, and improve their product on the whole. The marketing can be fine-tuned by the people who know how to make your sales funnel just right always.
If you are seeking expertise and result for your Saas product, then SaaS Marketing is the way to go. This process will help you enjoy the boons of targetted based sales in an augmented manner, Try going back to our section on how to measure the success of the SaaS marketing efforts and see where you need to focus. In case, you feel confused, we can help you go to the right path of decision making in the world of SaaS.
Founder & CEO @ LogicRanks, (Simply Put, I’m in charge of this exciting venture and we’ve some EPIC blogs taking shape). Gotcha 14+ year entrepreneurial ride where I have donned the "Strategic digital marketer and multi-faceted business consultant” cap. That got me unfolding these awesome blogs published here. Nonetheless, my versatile experience & learnings in real-time, proven digital marketing ventures & notable business journeys are wrapped with innovation, research, and result-oriented accolades. Stay with me on this journey :)
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