Fact check: The SaaS market size was valued at 215.10 US Dollars in 2021. It is projected to grow by 883.34 billion dollars by 2029.
The above fact clearly tells that the SaaS industry is growing. But with loads of SaaS products and entrepreneurs coming around, how can you ensure that your software stands out from the rest? You have to lay a solid strategic foundation to achieve smashing success with your SaaS product. And how to lay that solid foundation?
Here we have come up with six smart ideas to market your SaaS business which will help you stand strong among your competitors.
You have built a SaaS solution. Now you have to acquire the customers. The first step towards compelling the customers is building a remarkable marketing strategy specifically for your SaaS product. You have to let the prospects know how your SaaS solution will resolve their problems. Create relevant messages depicting the technological capabilities of your SaaS solution. Including a clear call-to-action in your marketing strategy increases your chances of getting a response.
Taking steps to generate leads can market your SaaS business in the best way possible. Generate leads and make efforts to convert them into paying customers. You can start attending industry events like conferences and trade shows. Network with your potential customers and other attendees, exhibit your SaaS product, and raise awareness about it.
Use a cold-email marketing strategy to build trust with your target audience. It is believed to be a highly effective method of attracting leads. Targeted email campaigns establish authority. Even if you are unsure of generating leads through cold emailing, taking assistance from cold email outreach software can help you a lot in this case. It helps in customizing cold emails, and you can also send follow-up emails using this software.
SaaS business marketing cannot work effectively without a well-designed website. The website should be attractive enough to convert leads into customers. For this, you have to opt for the techniques that result in more engagement. You can include free trial sign-ups. You can provide the ease of booking a demo of the software. Just be clear with the things you want your prospects to do as a result of visiting your website.
There is one common misconception that says you need to spend more money in order to get the best results from your website. But do you know that you can actually increase the website conversion rate without having to increase your expenditure? The key to do this is conversion rate optimization on your website. For example – After adding the free trial function, you can split test the length of these trials to find out which trial gets the most number of click through. Also, include a different call-to-action on every website page to find out the one that gets the most traction.
Engaging and valuable content drives customer action. If you want your audience to understand the right value of your SaaS product, content can prove wonders for you. Moreover, SaaS content marketing also helps in search engine optimization and building brand awareness. It is not just limited to blog posts but beyond that. Content could be in the form of video tutorials, free eBooks, or podcasts that tells your brand story and explains the needs and wants of the customers. Some examples of successful SaaS companies that use content marketing and have earned a name for themselves are – Hubspot, Neil Patel, etc.
Do you know an impeccable way to market your SaaS business? Giving a free product trial. If you know that you have designed a marvelous product, give your audience a chance to discover how it is going to solve their problems. Offer a free product trial and let them have the opportunity to see what’s in the store for them. You can also give your audience free access to your product for a limited period. And if they want access for a further period of time, they have to pay for the software. The paid version also allows the customers to use some of the best features of your SaaS product/service.
Your existing customers will renew their subscription after its expiry or even can cancel it anytime if they are on a monthly contract. This means they are your prospective customers. So, treat them well. Retaining customers is more cost-effective than acquiring new ones. Engage them in a community, address their needs, keep them updated about your software, and assist them in deriving the most value out of your product. Customer retention holds power to take your business to great heights.
Use the above-mentioned strategies to mark growth for your SaaS product. Experiment and see which strategy suits you the best and get excellent results.