Did you know that the total size of the public SaaS (software as a service) market in 2020 is projected to reach $157 billion, according to 99 Firms?
Which explains why SaaS startups are growing enormously more and more every day, encouraging you to pay extra attention to your SaaS marketing.
So again, why do you need to focus on your SaaS marketing?
As of this year, there are over 10K SaaS companies, which means the competition is high, and of course, you want your company to make the cut.
With that high number of SaaS companies existing nowadays, there are definitely other companies that provide almost or exactly the same service you provide, so it’s crucial to know how to convince the audience that your product is the one they’re looking for.
How to boost your SaaS marketing strategy?
There are a few strategies you can add to your overall marketing strategy to enhance it, and ensure that you will get the best results.
1. Study your market as if it was your major
You need to take all the time you need to perform extensive research, where you can learn more about your industry, the audience you are addressing, the market you’re selling to, and your competitors.
2. Employ content marketing and SEO strategies
According to CMI, content marketing results in conversion rates six times higher than other methods.
In a nutshell, content marketing revolves around creating, curating, and publishing content for your audience. The content can be used, either to just sell the product, or introduce the product to the audience, or to provide them with updates, or even to inform the audience about a better product.
Now, using SEO alongside your content marketing, makes sure your efforts are actually being seen and noticed. Make sure you optimize as much of your content as possible for search engines, this includes your blog posts, your website, and even your software platform itself.
Why should you include them in your strategy?
Well, the basis of content marketing relies on provoking the audience to buy your product/service, you’re not just telling them about it, as if you are telling them ‘Hey! Our product is amazing and you should buy it.’ No, you should be telling them what, where, why, and how.
This ensures your audience is aware of a well-informed decision, which is the kind of awareness that turns your audience into loyal customers.
Furthermore, using SEO is crucial, because it helps your prospects find you when they’re looking for you, so for example, if your company’s product is a fashion-related software, and a customer is looking for a specific garment that is existing; search-engine-optimized product on your website, they will find you through the search results and become a possible customer.
3. Use trials to your advantage
SaaS products are usually expensive ones, which may result in users feeling a bit hesitant about paying money for that product. The hesitation may turn into frustration when the product doesn’t have a trial to help them decide whether they are willing to pay money for the desired product or not.
When it comes to software products specifically, having a trial or freemium for your product is a great way to attract prospects to try your product. Once you succeed in driving the audience towards trying your product, it’s so much easier to turn them into paying customers.
Keep this in mind: your customers only need a push to go for it.
4. Leverage referral marketing
How many times have you tried a product, a service, or an app just because someone recommended it? If not even personally recommended, most of us always tend to check reviews before buying a product, no one likes to be disappointed and regret spending money.
Referral marketing works more than you think it does, as ‘92% of consumers trust a friend’s recommendation, and 88% of customers trust online reviews.’
Study your audience and create a referral program that suits their personas, the same way gyms give you invitations to bring your friends over.
You can get as creative as you can with your program, and completely customise it. For instance, you can create a points reward program, a bring-your-friend referral system, or even a review-based incentive.
5. Optimize your user experience
Eventually, your efforts can all be in vain if you didn’t take the time to build an experience, which makes sure your visitors are here to stay.
For instance, if your customer signs up for your trial period but doesn’t understand how to use the product throughout the trial period, they will probably cancel before their billing date.
If you don’t perform constant audits to understand how your experience is resonating with your audience, you are more likely to lose them rather than win them over.
The key is to research, implement, test, interview, analyze, and edit accordingly. You can’t give your users a good experience if you have never considered them in the first place.
Of all the ways you can improve your SaaS marketing, it all comes down to who your audience is, the market you’re selling to, and, of course, the product you’re selling.
Flexibility is a great perk when it comes to these strategies as each one can be implemented in so many different ways depending on your business, so you get the luxury of tweaking and editing until you find what you like most.