When I started working in software marketing, I had no idea what SaaS was. My colleagues would talk about it all the time, but it wasn’t until I did some research that I realized just how big of a role SaaS plays in the software industry. Nowadays, it’s hard to imagine launching a successful software product without using some form of SaaS marketing. But what is SaaS marketing? In this blog post, we’ll explore what goes into effective SaaS marketing and give you some tips on getting started with your strategy.
What is SaaS Marketing?
What is SaaS Marketing? It’s the practice of adapting standard marketing and communications practices to sell cloud-based software and service products.
On the surface, a software as a service marketing approach shouldn’t differ much from a traditional one. You have a product or service, advertise it and push it, and then you hope to sell it to many people.
But, a SaaS product, like an app, is non-physical. You can’t touch it, and it has no form.
So, you need a new strategy to sell SaaS. This is where a marketing approach comes in.
A SaaS marketing strategy focuses on selling and marketing software solutions, usually through digital means.
SaaS marketing efforts must be unique and attention-grabbing to attract new customers in the fast-growing SaaS market. To keep these customers engaged long-term, it is important to provide helpful and valuable content that meets their needs.
Digital marketing has been steadily growing as a revenue generator for many companies.
Sources.
The popularity of software-as-a-service (or “cloud computing”) is soaring. Recent forecasts suggest that by 2023, the cloud computing market will be worth more than 623 billion dollars. If you’re running a software company, you’re in a lucrative business.
With more and more companies moving their businesses to the internet, you have a ton of competition. And this number is only going to keep growing.
You need a strategy to market your software as a service. You need something that works especially well for software products.
Product
Since SaaS products are intangible, it’s up to marketing teams to devise creative ways to market them.
SaaS products are often very complex, with many features.
Your marketing message for your software as a service (SaaS) company should be clear, concise, and easy to understand.
Customer
Your typical customers will be businesses, whether they’re business-to-business (B2B) or consumer-to-consumer (C2C). When marketing SaaS products, aim to reach the decision-makers in these businesses.
If your software helps businesses keep track of their stock, then marketing should aim to reach heads of logistics and supply chain at consumer or business-to-business (B2B) organizations. This will reduce customer turnover and help keep clients satisfied.
And then there are the awful rates of customers canceling.
More customer turnover = less money.
In the software as a service (SaaS) business, it is essential to have a strategy in place to increase customer retention. Other companies might focus less on customer retention once they have acquired a client, but it’s critical to maximize marketing efforts in subscription services.
Customer journey
Because SaaS companies’ sales cycles are much longer than those of a typical B2C business, they need to take a different approach to marketing.
Your clients may have questions about any terms or features they don’t understand. They may also request a product demo to see how it will integrate with their systems.
Competition
The SaaS product market is very competitive.
With 1,227 different options to choose from, how can you make your Project Management Software stand out?
First, it’s important to have a well-defined business model and brand. Second, make sure your content is interactive and engaging.
If you want to succeed, you must ensure that your content is engaging and high-quality. However, to stand out, you need to find a way to differentiate yourself from the competition.
Pricing
Pricing may not be directly tied to your marketing, but it’s still an important part of your marketing strategy.
Companies need to price their software appropriately to stay relevant and competitive. Providing clear, concise information about prices can help increase conversion rates. Tiered pricing and different subscription levels allow businesses to target consumer and enterprise customers.
Your pricing model must be easy to understand. By clearly outlining your prices, you can increase the number of customers that convert from lead to sale.
How To Market SaaS Products
The benefit of “software as a service” is that it’s easy to get started, but customers can leave easily.
So, what strategies should SaaS companies use to show customers that a subscription service is worth it? We’ll be looking at Inbound, Outbound, and ABM marketing techniques.
Inbound Marketing
Once you’ve mapped out your buyer persona, you can better understand their pain point. You can educate them on how your product or service can alleviate their problem.
Once you’ve identified your potential customers’ needs, it’s time to educate them on how your product can fulfill those needs.
If you want people to see you as an expert, you need to provide consistent and regular information. This will show that you are an authority in your industry and know how to talk about your products.
In inbound marketing, you provide potential customers with valuable knowledge and information. This attracts them to your funnel and keeps them there.
Customer reviews and testimonials
Potential customers want to hear what other people say about your product or service. Collecting reviews and testimonials can show social proof that your offering is valuable and trustworthy. Make sure to link to these reviews and testimonials on all of your marketing assets for maximum impact.
These tips can be put on your social media channels, emails, or third-party sites like G2Crowd, Capterra, or Saas Genius.
If your software increases by 18%, you’ll need to include lots of statistics and reviews. This is necessary to convince customers that your product is right for them.
Reach out to influencers who can spread your message
Working with influencers in your niche is a great way to introduce your product or service to your audience. The influencer can vouch for you and warm your prospects to the idea.
Two good examples of how to use influencers are audible and dashlane.
Quality content
There are various ways to share your expertise with your prospects. You can do so through emails, blogs, videos, and other forms of media.
Your readers will appreciate the interactivity quizzes, animated infographics, and GIFs bring to your content. You can also capture their contact information by gating this content with a form.
A blend of free and premium content is a critical component of a SaaS marketing mix.
Develop a library of in-depth resources that answer your prospects’ questions, such as how-to guides, FAQs, videos, and whitepapers.
Your customers are always your top priority, so you should always work to give them the best possible service. By continually providing value and proving your worth, you’ll keep them coming back for more.
Provide them with exclusive content, offer discounts, engage them on various platforms, and inform them of any changes.
Segment and customize Emails
Email marketing for software as a service (SaaS) companies can help businesses build relationships with their target audience. By sending relevant, personalized content to segmented email lists, you can build trust with your customers and encourage them to become paying clients.
Personalize your messages to your prospects based on their position in the sales process. This can increase your sales by 50%. Tailor each message to where the user is in the sales process.
Outbound Marketing
Interrupting people with outbound marketing messages can be an effective way to reach a broad audience, but it’s essential to be respectful of their time.
This covers a wide range of marketing methods, including – Trade shows – Seminars – Cold Calling – PPC – Print Advertising.
Although you should still pursue them, they need to be handled carefully.
Generating a lead list through inbound activities, such as search engine optimization, content creation, and lead generation, can be effective. However, outbound marketing activities, such as paid advertising, can still be practical if done correctly.
When determining which methods are best, consider your industry, your software’s price points, and your brand’s level of awareness. It is also crucial that you identify your target market. That way, you can ensure that you reach the right audience without wasting time or money.
Examples:
If your software product has a yearly cost of $150,000, you should focus on reaching the C-level executives. Use Facebook, Linkedin, and Adroll to reach them. If your product solves a problem that many people are searching for, search ads and directory listings will be most effective. If you still lack awareness about your software solutions, you will need to do Outbound Marketing to raise awareness.
Account-Based Marketing
ABM is the opposite of the traditional method of starting with a list of customers and then figuring out who to target. Instead, it starts with identifying which companies would be good targets and then works backward.
Account-based marketing is a strategy where marketing and sales teams work together to target specific accounts.
Each prospect is treated as its market and should be treated as such. According to research conducted by Gartner, the average B2B purchase involves 6-10 people.
Account-based marketing (ABM) is a strategy that focuses on building long-term relationships with individual accounts. By focusing on the needs of each specific customer, the sales and marketing teams can tailor their messaging and approach to each account and, as a result, increase the likelihood that they influence purchasing decisions.
While both inbound and account-based marketing (ABM) are distinct, they align nicely. For instance, an eBook or whitepaper created for one company’s target audience may be perfectly aligned with another.
Alternatively, something that was developed for a client may be used in inbound marketing.
The sales and marketing teams need to work together to achieve effective Account-Based Marketing. Your Outbound Specialist, for example, isn’t part of the marketing or sales department but has established relationships with target accounts and has knowledge of them.
This strategy is effective because it considers the long-term goal of securing and growing an account. By nurturing and personalizing the relationship with your target accounts, you increase the chances of success.
Conclusion
What is SaaS Marketing? It’s the practice of adapting standard marketing and communications practices to sell cloud-based software and service products. If you’re ready to take your SaaS product to the next level, it’s time to start implementing a solid marketing strategy. With those tips, you will be able to establish a winning strategy!
