By Ashish Dwivedi What is the most important primary ingredient of Business Management and commerce? A factor which never let any business Feature-packed Product and Service to get covered. Yes, that’s right we are talking about “Marketing”. A great persuasive platform to promote the Products/Services and make them public everywhere. But with every day passing, the businesses are leveraging the durable digital strategies, so why not take the most advanced one to lighten up your products. A method that doesn’t spin out of control and that is SaaS Marketing.
What is SaaS Marketing?
Harness the power of SaaS Marketing which allows your business to flash the products and services and acquire the right lead for Subscription-based SaaS products.
The term SaaS is basically known as Software-as-a-Service which plays a key role in every diverse type of business. It means those who are looking to uncover their business can seek the chance of promoting their business and their valuable products in cloud-based applications. SaaS keeps on updating everything daily and will add the latest functionality of your product.
“SaaS educate the Market about Business products”
Well, what’s the most amazing things to know about SaaS Marketing plans-
- The business selling software and also a service too
- There’s a Short buying cycle
- It is not offering any Physical products to anyone
It’s a surprise for most of you because we entail “Short Buying cycle” the best advantage of this digital marketing method. When leads find you online, they will read out the content thoroughly about the product, visit the website, check out the free trial, and then decide to buy or not. It will take hours or days. The process will not go for too long like months or years. A complete advantage for your business!
Main Difference behind Traditional Marketing and SaaS Marketing
Many don’t know the difference and the advantages of both the marketing clearly and still going with unplanned business methods. This is where the company drops the ball. Running an organization at astonishing speed, so you must be well aware of which marketing is embedded with the right function for your right business.
Traditional Digital Marketing is good because here the company makes achievable goals like making sales, getting innumerable email addresses for business, etc. They always note down the goal of Brand awareness with no intimidated and complicated process.
But in the case of the SaaS Marketing strategy, it is outstanding. The SaaS companies easily track the dollar spent on the marketing goals, convincing the prospect who visited the website to sign up for free trials, etc. It also convinces the valuable prospect to try the paid software by sign-up as well.
We want the customer to put the right foot forward. Therefore, we don’t want the Traditional Marketing or SaaS Marketing plan to get the dark phase from customers. Leverage which according to you can vastly enhance business efficiency and productivity.
SaaS Marketing and Sales are Fundamentally different. How?
What are Sales? Selling your important products and valuable service to a person to boost up your business growth and development. Its first and topmost goal is to turn the prospect into a regular customer. They do all this with the assistance of cold emails, meetings, etc.
The Sales and SaaS Marketing are fundamentally different because SaaS Marketing is about flashing the business products and service to numerous people at a time. Sales are completely different because they sell with the process of one-by-one to others.
We have to announce one more thing which we personally like about the SaaS Marketing strategy and that is it prepares the “Leads” for the sales department of your business.
Current Important SaaS Statistics that you can’t ignore
What are the marketing stats and how the SaaS is holding every business? How SaaS is a helping hand regarding sales and revenue? Get your answers by knowing the 2021 stats of the SaaS platform.
Excited to know the First one?
The Revenue retention rate of every company of SaaS is 100% and this year, the corporate mobile SaaS marketing will reach $7.4 Billion.
Every SaaS company offers 30% more greatest functionality and approximately 44% of the companies of SaaS offer the Free trials or Demo of products.
Around 33% of medium/large scale SaaS businesses shared the additional and important services.
Want some more Intriguing statistics about this cloud-based software?
The companies here invest more than 80% of their revenue in the Marketing field and also in Sales.
Around 73% of the businesses said all applications will be cloud-based (SaaS) this year. Even 50% of enterprises are looking to run businesses alone on the cloud in the coming years.
84% is the actual stat of SaaS customers who are using the Free trial and are newbie visitors on the website.
Making tenacious connections with every customer, this cloud-based software looks to strengthen the relationship with every company. The organizations must adapt the SaaS Marketing strategies and Sales factors to gauge great profit and business efficiency. Make sure to share these statistics above with every organization to guide them on the significance of this cloud-based software.
Steps to begin the journey with the SaaS Marketing platform
You seek much information about SaaS Marketing and everything which is required for your business. Also, your business team entices you to go for this digital marketing method. Well, if ready to plunge into this method, first, get aware of the steps to start with it.
- Find your Niche first to start
You are looking to flourish your organization globally so it is better to work and find out your niche. If you can’t share a hefty amount on a niche then try to check out according to your budget and you will get popularity over there. Someone called it a daunting task but it’s actually true. You have to understand who the person is working in that niche. Make a list of all such people who you are looking to target with your business mark.
- Create accurate Content now
Do you think the content will bring good results? Yes, it is and this is our second step to follow. After getting the right people for your right business, it is now possible to tailor their needs by sharing the content about the product or service. It would be great to mention the influencer over there to fetch the audience more and more. Start creating the content which should be unprecedented enough to catch the audience.
- Focus on getting the vital information first
Happy for getting the audience on your site? Are they consuming the content? Well, it feels like the business hit the mark correctly. But you should remember one thing: taking the audience on your product should not be your goal first. Your team needs to keep a close eye on the goal of getting their email address, make sure they go for a free trial or freemium versions of your vigorous products. Getting such a piece of information first is awesome.
- Work on social media channels to gain the audience
Well, before explaining this, we just want to tell you that Optimizing the website is also imperative. Make sure to work on improving the page speed of your website and add more content there. And focus on Call to Action to make it easier for the visitors to reach you on time. Suppose you made your team for sharing the content of SuiteCRM services (just an example) then keep sharing some information on social media too. A great platform for your business to reach and the audience moves with your business with updated information while following you.
- Let the Product wins the customer’s heart
Every preeminent product of SaaS should streamline the business operations and open the door to success. The above four crucial points you should bear in mind so that the audience reaches to your accurate product on time and gets what you promised. Like if a customer searches for SuiteCRM Plugins/Products then it must solve their day-to-day problems. The product should be compelling enough to offer remarkable customer service at an affordable rate. Keep improving and updating it on time.
Greatest SaaS Marketing strategies that you need to know
We all waited for this section to know what the top-most strategies of SaaS Marketing are. This method of Digital Marketing promises to shine your business like the sun. Here we go-
- Referral Marketing is always an Opportunity
Popularly known as word-of-mouth marketing, Referral Marketing allows the customer to share their personal experience like good or bad with others. One of the holistic methods to fetch the new audience because of the influence of sharing with a lot of people.
The fact is 67% of the users make their purchase when they read views of the products on social media channels. For this digital marketing method that we are talking about in this article, you should follow the steps like: making everything easy for the audience when they refer to any friend, determine why people should adapt your product, etc.
Additionally, you can promote your referral program by email and make sure to let the audience know what they are getting. They should not be left wondering what they are paying for.
- SEO and Website Optimization strategy is also a priority
One of the ingenious ways for improving your site visibility for relevant searches is Search Engine Optimization. It is popularly known as SEO. It is ready to optimize your website to organic and unpaid traffic from search engine page ranking. What should the business remember here?
Using accurate Keywords and Google AdWords to improve your SEO technique and get the best profitable results in your hands. Let us clear one thing that both On-page and Off-page SEO activity work. And to optimize the website it is better to keep eyeballs on the Call To Action (CTA). It allows your visitors to subscribe to your products and services and can follow via emails.
- Your important SaaS products on Third-party sites
Pouring such SaaS products on a myriad of third-party sites can make a great image of your business and your brand. Like if you have a product called Email to Lead and it is highlighted on the best third-party review sites like Trustpilot or Gartner.
You can gain good traffic on your website because the audience trusts more on such advanced websites. Another astonishing benefit for your business is getting a Backlink and it is wonderful for the SEO purpose. But before you go on such sites, let us be aware of the fact that you are not alone in the race of fetching audiences.
You will see numerous products there and the audience will have the option to choose according to their choice and their plans. We recommend you ask your customer to leave a review about that product. SaaS Companies strive for such great sites that we mention above, so it seems like your business is following the right track.
- Offer them a Product Tour for a better understanding
Keep yourself in the place of your customer and ask this question from yourself: “If I get stumped when using the products what will I do”? The majority of the answer would be “Leave the product and purchase next”.
Even we guess many of us do the same because we are not geniuses who can use any product or service and not get confused or have any problem. Every SaaS Company is looking to work on customer retention. Therefore, we suggest you share a “Product Tour” with your customers.
This is a complete all-in-one solution to retain your customer. Share the Product Tour to solve their queries on time and they will never leave you. No customer will churn if you help them to understand the product better by offering a Product Tour on time.
- Attention! Customized Emails is also necessary
Whenever the audience visits your website to read out the content, they first sign-up before going to jump into the content. When they finish signing up or registering, the website will share the emails in their mailbox regarding business and all.
Most of the time audiences first get “Welcome Emails”. This is an effective and noteworthy strategy. How? Sharing personalized email gives you a 50% chance of getting leads and boosting up your business sale.
The personalized email gets 6x higher retention rates. Such emails open up a box and share 58% of revenue with you. One of the interesting facts! Let’s add this strategy on the list of SaaS Marketing.
- Why not automate the Sales Motion for growth?
Automation eliminates the need for humans in the workplace as we guided you about Customer Service Automation in our previous article. Now this automation can also rule in your Sales department. How? Just by automating the Sales Motion. What is Sales Motion?
It is a combination of everything the organization does to sell the product publicly. It shares a complete insight into how you should sell your compelling products. Also, it can uncover the ways whether you are selling correctly or need some changes.
Every advanced SaaS company automates it to get the greatest advantages such as saving time to nurture leads, CRM software Integration, and much more. Well, we personally believe the sales motion is a helping hand for the SaaS companies. It is because you get a clear picture of your sales ecosystem. Now identifying the right leads is not at all a challenging method.
- Concentrate on Content Marketing
Everyone heard this “Content is King”. Well, it is an old adage but it will still work. Every SaaS company should be aware of the fact that Content is a top-grade growth strategy for the business.
Content is a complete example of bringing people near your business door. Therefore, it is better to strive for the strategies such as Blog posting, Video Content, etc to get the right audience for the business.
A good way to start this is by doing batching content for your audience. For example, creating batch video content will not only save you time but also help your audiences learn more about your products and make you become more productive and efficient in your business.
Suppose you launched a Mailchimp software product. Your task should not only focus on creating articles for Search Engine optimization, but also on push notification, pay-per-click, Email Marketing, etc. This is indispensable to simply catch all the fish (audience) to your funnel.
Top SaaS Marketing Metrics to measure your performance
Are you unfamiliar with the metrics of this digital marketing method? Measuring your own performance can help you to know whether you are driving a business in the right way or not. Make sure not to skip the content in the middle.
- Traffic
Let’s begin this section by explaining the simplest metric and common one called Traffic. It is great for your team to track the traffic of your visitors who are interested in buying something. To minimize your burden, make sure to follow the specific person metrics in lieu of overall traffic.
We will tell you what to do- start using Google Analytics (an outstanding web analytics service). From here you are able to catch the qualified leads, unique visitors, existing customers, and much more. Yes, it is a herculean task to get all this from the Google Analytics platform but not impossible.
- Conversion
Here we go with the second crucial one which helps to measure the percentage of visitors that you want to take action and it is Conversion. Your sales department team can take this advantage by measuring the sale funnel at different-different levels. You can measure the leads, qualified leads, lead conversion, and lead to qualified lead conversion.
What is lead-to-qualified lead conversion and how is it helpful? The business team can check out the leads turning into qualified leads over time. It Is great for the business to check out the marketing efforts they have given. Well, such challenges like nurture lead into qualified leads are difficult but also important.
- Lead quality
Let’s walk through the next SaaS Marketing metric and it is about Lead Quality. With no lead quality measuring means you are giving a hundred percent but wasting time on unqualified leads which is not the right one for your SaaS. Nobody likes to adapt the unqualified leads, so it is necessary or you can be significant to track the lead quality.
Now the question here arises is how you can track them? It is just simple by taking the assistance of Lead scoring and also using the attributes of your ideal customer. Like, get aware of the company size, number of forms they submitted, the place where they are working, etc.
- Cost Per Lead
You can’t judge in the B2B buying cycle whether it closes a deal in a few days, weeks, or months. It is not up to you. This always happens in B2B businesses and they wait for a long time to measure the exact cost per lead. What will be the solution then? Is there something to help the B2B businesses?
By getting visitors from innumerable channels, you can measure the exact cost per lead by going with the last channel attribution. You can seek a significant amount of data over time from this. The two greatest variables then need to be accounted for on this B2B SaaS Marketing metric and that is a percentage of legitimate lead and cost of converting lead into a qualified lead.
How can SaaS Companies Measure the Customer’s success?
Besides the company performance, why don’t you measure the customer’s success for your business growth and enhancement? Below we are going to enlist metrics for your assistance in the SaaS Marketing plan.
- Customer Churn
We have one more hidden statistic and an important to highlight with you. Around 69% of the SaaS businesses measure the Churn and 17% is the highest churn rate of the Sales channel. This metric is also known as Customer Attrition.
This metric means customers don’t want to do business with you and they stop all such activity. Your business will be happy when the churn rate is low because increasing this metric can minimize the chance of business development in the market. Keep the focus on acquiring customers and share such things that they need from businesses.
- Customer Acquisition Cost
We have seen many get stumped about why the CAC is so important. Let us inform you that it is a complete all-in-one solution to manage the revenue and expenses of a business. In addition to this, you can gain actionable insights into various business models and a great way to improve your organization’s value.
SaaS businesses spend at least 92% of their revenue on CAC. Put simply, this metric helps you to know how much money you spend to acquire a customer. Suppose you spend $1000 on a marketing channel and you gained 5 customers then your CAC is $50.
Bottom Line: A long race of competition and SaaS businesses are also involved. To win it clearly, there is a need to curate the awesome SaaS Marketing strategies that can lighten up your goals. No matter how many ways your business team knows for promoting the products and service, SaaS Marketing has something that others don’t. And to know the difference we share a completely comprehensive guide above with SaaS Marketing metrics to measure your progress and of your customer success. Face the fierce competition now!
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