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No one thought the rise of Software-as-a-Service, known as SaaS, could unlock many opportunities. Today, what started as a small invention has now become mainstream, and the future is promising. Many and many companies continue to leverage opportunities this invention offers. So, what is SaaS?
What is SaaS?
But in simple terms, SaaS is a software distribution model that allows access to software provided on a subscription basis, also referred to as “on-demand software”. These software are available on your browser app, known as a “thin client.”
One of its benefit is that it allows customers to use applications without installing them. This is a plus for businesses that don’t have the muscles or are not prepared to invest in hardware acquisition, installation, and support. SaaS eliminates the most hindrance that stopped businesses from using the best technologies.
SaaS marking is never easier, and it requires those involved to flex some muscles to keep their customers and remain competitive. Companies that are prepared to stay on top of the game. This means developing SaaS marketing strategies that work and improving them to remain competitive.
The ability of a business to develop marketing strategies that work is very important. This is not the time to rely on strategies built by companies. You can borrow ideas but is crucial to building a solid SaaS marketing strategy for your business if you want to compete with notable players in this field like SAP, Oracle, Microsoft, and Salesforce.
Creating your SaaS marketing strategies
Leveraging opportunities SaaS offers, it is crucial for your business to come up with a marketing strategy that works. Below are steps on how to develop a sound SaaS marketing strategy for your business.
Develop the right products or services
It is as simple as it sounds. The first step is coming up with products or services you are confident will pay off soon or later. The key here is developing products that will help you penetrate the market and make an impact.
Start by understanding the needs of your customers. Find challenges your target could face and see the best way you can offer a lasting solution. Like it has been before, it is easier to connect with consumers once you provide solutions to things giving them sleepless nights. Show them how your solution will be the best value for their money. Once you know the answer to their challenges, you are ready to move to the next step.
Know your audience very well.
Building a product or services that target a specific group is just one step, but getting the product to them and making sure they want more from you is another crucial step. One way to do this is to make sure everything is well-aligned to meet their needs and meet your marketing goals.
Pay keen attention to how your product will look like. If you create content to support your marketing initiatives, make sure the content is right, and remember to make the look and feel of your website great. You are not limited to what you can do as long as your customers are the focus.
Know your goal and KPIs
It is often said a journey of a thousand miles starts begins with a single step. Knowing your goals helps you start off on the right foot. Besides, this helps in aligning your marketing goals with particular KPIs, which helps you know where you are and where you are heading.
For most business, the key focus is customer retention, profitability, growth, and efficiency.
While these are top areas most SaaS businesses focus on, it is also vital to track and measure SaaS metrics such as annual recurring rate, conversion rate, website traffic, customer lifetime value and number of customers leaving your business. One reason to track various metrics is to improve your decision making.
Know and test your competitors
You need to know your competitor to be successful in SaaS marketing strategies. This is the right moment to find out what your competitors are doing to remain on top of the game. Do your homework well if you are looking to develop a better marketing strategy for your business.
For example, try to understand what gives you competitor an edge, what strategies they use, their social media presence, their search ranking, how well they use backlinks, keywords they target and so on., unearth every piece of information you are confident will give you an edge.
Where possible, use the best information harvesting tools. There are many excellent tools in the market, such as SpyFu you can count on. Comparing a few tools, let’s say five is a good idea as it will help narrow down to one that will make your work easier.
Optimize your website for conversions
If you are contemplating shifting to SaaS, then you must be prepared to do business online. Almost all companies and big players in the market do business online, so you will also have to shift online. You need a good website to do business online.
With that, focus on building a conversion-focused website. This is a kind of website that helps not only in converting visitors to royal customers but also helps in keeping and satisfying the needs of existing clients. Well, you may find it tasking at first to build such a site, but once you get everything right, you will have a reason to smile.
It is also essential to keep your site simple. Avoid posting too much information. Only share what is relevant. Too much information will only make your website look cluttered, and this is not good at marketing. Also, remember to use call-to-actions in the best way possible. At least one call to action per page is a good idea but don’t over dot it.
Create the right content
Well-Optimized content is king if you are looking for a more natural way to market your SaaS business. If you leverage content, to make it easier for people searching for SaaS companies to find you. Besides, this is a better way to improve your ranking. Most business that invests well in content marketing ends up ranking on the first page of google. Why not your business?
The best solution is to come up with content showing how your solutions or products will offer sound solutions to challenges your customers have. The idea here is to come up with informative content that converts. Feel free even to hire a skilled writer if you find it challenging to prepare content yourself.
Build and maintain a strong presence on social media
Businesses are leveraging social media today. The many channels today create a prime opportunity to market your business. You are not limited to one social media account. Join as many as you can but remember to go where you are likely to meet your target customers. For example, if your services target professionals in a particular field, LinkedIn will be a perfect place to start.
The most important thing is not having an account on every social media platform, but to have a presence where your efforts are more likely to pay off fast. Again, remember to engage your audience with the right content; otherwise, your presence will not have a significant impact.
Offer free trials
Offering free trials is a good way to attract more and more people and businesses to try your services and products. Many businesses have made significant steps by simply offering free trials at the initial stages. You don’t also have to offer free trials at the initial stages. Any time you find it ok, to do so and allow your audience to try your products and services.
Often, by allowing people and businesses to experience your products for free, chances are, in the end, some will convert to be real customers. It is not a must all will become paying customers, sometimes you can get none even after free trails. But if your products and services are excellent, rest assured at the end, some customers will subscribe to your paid version.
Encourage your clients to leave feedback
This is probably one of the best SaaS marketing strategies that people don’t realize. Yes, asking your clients to leave comments does pay in many ways. First, other visitors visiting your site will get a clearer picture of the kind of experience you have guaranteed before. Remember, there are a fraction of customers who make a decision based on the feedback.
The next reason why you need to encourage them to leave feedback is that you get to know areas on your strategies to work on. Revamping your SaaS marketing strategy is inevitable if you want to remain competitive. You have to improve continuously. You can leverage feedback to make sound improvements.
Encouraging your customer to leave feedback provides a better way to communicate with them. You may not have an opportunity to give all of them a call or write to them, but going through feedback can help know what your customers are looking for. To show your clients that you take time to go through their comments, always leave a reply.
It is never an easier task to come up with the right SaaS marketing strategy for your business. You will go through a lot before finally having a reliable strategy you can bet on. Sometimes you will feel like giving up, which is common, but it is good to keep going until you make it.
The above elements are a plus when building a SaaS marketing strategy. If you have not tried them, not it is the right time to do so. They have worked for other SaaS companies well, why not your business?