SaaS is an industry with great potential and rapidly growing. With the number of SaaS companies increasing day by day, a suitable SaaS marketing strategy will help your business to compete with rival companies.
What is SaaS Marketing?
Software as a Service (SaaS) is a software application service delivery model in which the supplier will not sell software products whose primary revenue will come from selling “services” based on that software to customers via the Internet.
Popular software of SaaS companies are for instance:
- Salesforce (Customer relationship management platform)
- G suite (Integrated online workspace)
- Dropbox (File-storage cloud service)
- AccountDock (Billing history app for Stripe-user)
- Mail Chimp (Email marketing & newsletter platform)
- Pandanese (Chinese language learning platform)
Why is SaaS marketing special?
SaaS is different from conventional business models because the target audience these companies target is often very limited. This leads to many difficulties in reaching customers or in other words building SaaS marketing strategies for companies in this field.
For SaaS marketing strategies, every dollar spent is directed towards a single goal: attracting potential customers to sign up for free or trial versions, then convincing them to upgrade to paid versions.
Now let’s check out the top 5 SaaS marketing strategies that can be applied right away.
1. Sales Motions Automation
Sales motions is a combination of actions and general sales principles that can be applied to your organizational structure to sell products. Sales motions give salespeople a clearer picture of how they should sell their product and whether they’re doing it right.
Sales motions automation is one of the best SaaS marketing strategies for companies in the field because:
- Gives you more visibility into your sales pipeline, allowing you to identify your most potential customers quickly.
- Saves you a lot of time in “nurturing” and converting potential customers.
- Sales motions automation helps build legal contracts quickly based on your terms and a system of pre-approved policies.
- Offers seamless integration with your existing CRM and systems.
2. Change the registration process for purchasing SaaS products
Changing the sign-up process to purchase SaaS products can have a positive impact on your business’s conversion rate. Here are a few ways to optimize the product sign-up process:
- Create a 2-step checkout: Creating a two-step checkout process instead of a one-step checkout can improve conversion rates by about 10%. The customer’s name and email will be required in the first step, and then on the next page will be the credit card information.
- Reduce required fields in the registration process: If your current registration process requires users to fill in a lot of details like company name, role, qualifications, etc., this will reduce the conversion rate. While this information is essential for businesses to know who their customers are, potential customers can find it annoying or time-consuming while not knowing if your product is really worth the data they must provide.
- Use a third-party authentication service: Third-party authentication services like Google, Facebook, or Twitter make it easier for potential customers to verify the information. Adding a third-party authentication service also saves time, but still ensures that you have the correct information.
3. Test a Product-led growth through the Freemium model
Product-led growth is a business model that relies on the product itself to attract, convert, and retain users. In a Product-led growth strategy, word of mouth marketing will bring more effective than traditional marketing strategies.
The Freemium model helps provide customers with limited access to a free SaaS product. Then, if customers want to really get the most out of your product, they’ll have to pay for it.
There are 3 main types of Freemium models:
- Limited features: In this model, you limit the free features users can use. In other words, you can set restrictions on the available features.
- Reduce space or usage: In this model, you set a storage limit or data quota to limit user usage. For example, Sendinblue allows free users to send 300 emails per day. To be able to use more than this number, users must upgrade to a more premium plan.
- Reduce support: Free users do not receive priority customer support. For example, Heap Analytics only offers a “silver level” support email for free users.
4. Allow Scheduling demo calls instantly
Customers have a higher conversion rate when they are supported by salespeople who understand the potential benefits of a SaaS product. You can use appointment scheduling software to let prospects decide when they want your sales team to contact them.
5. Software user manual
There are many SaaS products out there that are very complicated to use, and if customers find it too difficult to use, they will leave and even switch to competitor products. So, if your business has user-friendly software tutorials such as Shoeboxed’s, it will help customers feel the value in the product you have to offer.