The right marketing strategy for a SaaS company can be considerably complex because of the many components it entails. For instance, there is the need to attract prospects, turn them into paying customers, retain them, and ultimately grow the revenue per user. This is why a detailed plan of action designed specifically for the service offered is often necessary.
Like most SaaS consultancy services will recommend, you should pitch your performance against your goals. Identify the tactics that work and those that are not effective.
That said, irrespective of how you tailor or customize your SaaS marketing strategy, specific must-have components guarantee its success. Read on to learn about these components.
1. Lead Acquisition.
What determines the right lead acquisition strategy as a SaaS company is your target audience’s level of awareness of your brand and product. Here is what you can do to arrive at a strategy that works best;
Entice your target audience with superior content
Understand the type of content your audience craves and serve them consistently. Asides from the regular valuable content, you should also do social media sharing and high-quality off-page links from sites with high authority.
Make your audience aware of your SaaS
You may record low demand if your target audience does not know about your business. This is why you should drive awareness, for instance, by attending trade shows or conferences or through sponsored placements in industry publications.
Gather strong reviews for social proof
It is easier to get new referrals from existing clients and fans through reviews. So, set up a referral program to encourage where your current users to introduce your product to new users.
Leverage paid ads to capture serious buyers
Search marketing can help you convert prospects who are aware of your brand and ready to patronize. If done well, you will only attract people ready to buy with programmatic advertising. Try several channels and demographics to see which works best for you.
2. Lead Conversion
You definitely have the attention of a good number of people, including trial users. The next step is to convert this attention into actual sales. You need to get people to use your product and see how it can help them. This is the talking stage, and you can maximize it by;
Solving more problems
Offering helpful resources to potential clients further highlights the value of patronizing your company. Your prospects will see this and have another reason to go all-in for your offers.
Putting out perfect message at the perfect timing
You can set up a messaging content that puts out content based on how people use your product. For instance, trial users can get a welcome email, followed by links to helpful videos and resources on using the product.
Nurturing leads according to Buyer Journey
Not all leads have the same level of understanding regarding the value of your SaaS product and how it can help them. Identify these users and their stages in the Buyers Journey, then leverage direct and email interactions to share relevant resources that get them to the advanced stage of understanding how to maximize your product.
Letting your leads explore the product
Ensure your software is tuned to help users understand its value. Aside from optimized usability, introduce helpful tooltips and hints that make it easier and faster to master it.
3. Customer Retention and Upsell
The SaaS landscape is such that most purchases are subscriptions. Hence, there are lower barriers to leaving a subscription compared to other software sales. This is why you must maintain a high level of engagement even after converting a prospect. The goal is to increase value and upsell them to the next subscription level.
You can achieve this by;
Keeping up the usage
Once you are sure, people are really using your product, activate a consistent communication system across all channels. This helps users to fully immerse in the experience and get the best out of your software.
Keeping the communication lines open.
Your website and application should have a working chat link through which users can reach you and ask questions. Provide timely updates about product improvements and new or improved features. This helps them see and experience increased usefulness over time. You should also request feedback regularly.
Being strategic about timing the upsell
Monitoring the user engagement with your product can help you identify the best moment to upsell, which is usually the point when users are at a crucial moment of engagement.
Rewarding loyal customers
Your best users deserve some rewards, especially if you are serious about getting referrals. They can easily become your rave reviewers and refer more people to your products. Go for an unexpected gift for the best results.
4. Maximize your website
Your website is the place where most of the initial interactions with a consumer happens. This is why you should optimize your website for attraction and conversion. Go for strategic headlines and valuable content tailored towards the goals and priorities of your customers.
You can also:
Make answers readily available
A website with a responsive search helps users to find specific details easily. You can introduce live chat and chatbots for improved engagement and conversion.
Test to optimize
Test every element of your website with A/B testing, including modifications to call-to-action (CTA) design, layout, size of headlines, pricing grid layout, and other similar elements that can influence subscription rates.
5. Data is king
Always modify your strategy based on these findings, focusing more on boosting acquisition, conversion, retention, and upsell.
Finally, while trying to develop the perfect SaaS marketing plan for your software, be methodical and precise. Note that it takes time, but consistency and dedication will surely bring you the desired results.