Today, you’ll discover techniques which will improve your SaaS Marketing.
As you know, SaaS applications such as enterprise resource planning (ERP), customer relationship management (CRM), human resource management (HRM) and supply chain management (SCM) are making in-roads into organisations, across every vertical.
Analytical Research Cognizance anticipate that the SaaS market is to grow at a compound annual growth rate (CAGR) of 21.20% during the forecast period 2018-2023.
Whether you’re an Independent Software Vendor (ISV) or a Value Added Reseller (VAR) you need to capitalise on the current growth in the market. To do this, you need to implement SaaS Marketing techniques that produce results.
Five SaaS Marketing Techniques
1. Create Compelling Content
I thought it would be best if we started with the obvious. I’m sure you’ve heard time and time again that content is king. Well, it’s no different when it comes to SaaS Marketing.
Content can be a great differentiator in a saturated market. Furthermore, those who educate a prospect first, usually gain their custom.
There are five elements to creating compelling content. They are as follows;
- Purpose Driven – Create content that makes your audience take action
- Relevant – Your content needs to address the needs, wants, frustrations and fears of your audience.
- Exclusive – Your content needs to be original
- Affirms your Brand – Your content has to lead your reader somehow to see your brand positively and consistently.
- Appropriate – Your content must be easily read and understood by your audience
2. Give away something Valuable
Having covered the obvious, let’s move forward and provide you with more ambiguous techniques.
To be successful with your SaaS Marketing strategy consider giving something away. This ‘freebie’ needs to connect directly with your products.
A referral program is an excellent method to do this. For example, when Dropbox first started, it gave away a lot of extra storage through its referral program. Whenever you sent a friend or colleague an invite to join, and they followed through, Dropbox granted you more storage. Such a strategy turned out to be great for the company.
3. Freemium is ideal for SaaS Marketing
If you haven’t already heard of Freemium, it’s a business model that allows customers to access basic services or products for free. However, to access the full use of the product, they must upgrade to premium.
The idea behind this tactic is that by limiting the functionality of your product, to only the basic features, a customer will likely upgrade as they need to access more to complete their task.
Currently, approximately 20% of SaaS companies use a freemium model (SaaSX,2018).
However, this technique comes with both pros and cons.
– Attract a lot of users to try your product
– Streamline your customer acquisition process
– Generate user habits, which can create loyalty
– The danger of Undervaluing your product
– Challenging to persuade customers to upgrade to premium
4. Listen and Respond
There is no doubt that word of mouth is truly effective marketing. The real question is, how do we encourage this?
Listen and respond to what your customers say about your product.
A great example of a business using this technique is Slack.
Listen to your early customers – Listening is what frames everything in marketing. Listen to how your customers used what you’ve built, where they see improvements, and what makes them most happy about the solution. Slack listened to feature requests on Twitter and executed on them almost immediately. They responded to people with bugs with honesty and a plan to get them fixed. This made people happy. This made people talk.
Understand what gets a customer fully invested – You need to understand at what point the user says to themselves, “I can no longer do my job without this tool.” For Slack, they found that this point was 2,000 messages. People could do a number of things with Slack, but at the point at which a team sent 2,000 messages, Slack knew they were hooked. As a marketer, you need to work with the product team to understand how to get to your proverbial “2,000 messages.” For some, it might be messages while for others, it might be getting a whole team on-boarded. Understanding this number should inspire everything about your marketing strategy, from core messaging to content to advertising.
5. Utilize Video Content Marketing
While long-form compelling content such as blogs, articles and case studies are great. You might want to inject a few informative videos.
According to Outbrain.com, 87% of online marketers use video content. Another survey found out that 4x as many customers prefer to watch a video than read about it.
You could use video to present case studies or an explainer video on how your product works. You can also do a demo via a video short if it works for you.
Clearly, there is a range of techniques which you can draw upon to improve your SaaS Marketing. You may choose to implement several of these techniques. However, I assure you, any one of these techniques will deliver you greater results.
To ensure your investment is these techniques is worthwhile, I would suggest implementing a multi-channel campaign.