SaaS Marketing is no walk in the park.
And it gets even difficult when you’re dealing with a product that you can’t even touch or feel. We are talking about SaaS here—Software-as-a-Service.
But here’s the thing: SaaS is booming across industries like retail, real estate, healthcare, you name it. It’s everywhere! And with so many players entering, the competition is fierce. If you’ve found yourself grappling with the complexities of SaaS marketing, don’t worry—you’re not alone. SaaS products may be complex, but that complexity brings along a world of endless marketing possibilities!
Once you wrap your head around how SaaS growth marketing sets itself apart, a whole bunch of strategic options open up. With the right strategy and a little creativity, you can make your mark in the SaaS world. And that’s what we will cover in this blog.
But first, let us understand SaaS marketing.
What is SaaS Marketing?
To grab the attention of the people you want to reach and persuade them that your software is really special. You have to keep reminding them why your product is so amazing and different from others.
Now, since this SaaS product is intangible, you might face the challenge of convincing them of its value. That’s where SaaS marketing comes into play.
SaaS marketing is a specialized approach that revolves around creating brand awareness, generating leads, and acquiring as well as retaining customers specifically for a SaaS product.
The goal is to make sure you don’t forget the benefits of the service amidst the sea of other options out there. It’s all about creating a lasting impression and demonstrating the value of the SaaS product.
But wait, does that sound more or less like traditional marketing? Actually, not! Let’s find out.
How is SaaS Marketing Different from Other Types of Business Marketing?
SaaS marketing is different from other types of business marketing for various reasons. It’s important to grasp these differences to effectively promote your SaaS product in the industry.
Here is how it differs from regular marketing.
- Long-Term Customer Relationships
When we talk about SaaS marketing, it’s all about building lasting relationships with your customers. Unlike traditional businesses, SaaS companies have their sights set on acquiring customers for the long haul.
Once your prospect becomes a SaaS customer, the entire marketing game changes. The focus shifts towards maintaining constant communication and engagement to avoid churn. Churn is when customers decide to leave your sales funnel, and it’s something every SaaS company wants to minimize.
Reducing churn is a top priority in SaaS marketing. Instead of treating each interaction as a one-off, SaaS companies are in it for the long run. After a potential customer tries a demo or downloads their product, the goal is to keep them onboard for the foreseeable future.
That’s why you’ll often see SaaS companies offering a freemium model, providing a free version of their product to entice users and convert them into paying customers later on. It’s all about nurturing that relationship and proving the value of their product over time.
- No One-size-fits-all Approach
Closing an enterprise deal in the SaaS industry can take anywhere from six to eighteen months.
Why does it take so long? Well, the customer journey in SaaS marketing is far from easy.
For starters, SaaS marketing involves creating and promoting content that caters to different levels of awareness.
Let’s say you’re marketing a project management software. The customer journey for this type of product can be quite complex.
At the beginning of the funnel, prospects may be unaware of the benefits of project management software and need to be introduced to the concept. They may be searching for general information on project management and its advantages.
Moving further down the funnel, you might encounter prospects already familiar with project management but exploring different software options. They may compare features, pricing, and user reviews to determine which solution best suits their needs.
There’s no one-size-fits-all approach. In other words, customers come in all shapes and sizes. This means you need to create a wide range of content and marketing materials that cater to what your prospects already know or what they need to know.
- Ever-evolving Nature of Competition
In 2022, there were about 17,000 SaaS companies in the US, according to Statista.
This number indicates a significant level of competition and a crowded market. With so many companies offering SaaS products, it becomes crucial to differentiate yourself and stand out from the competition to capture the attention and interest of potential customers.
SaaS products often operate in specific niches or cater to specific industries, which further intensifies the competition within those segments. You’re not only competing against other SaaS companies in general but also against those targeting the same customer base or addressing similar pain points.
Additionally, the ever-evolving nature of technology and software means that new SaaS companies are constantly entering the market.
This influx of competition creates a dynamic landscape where staying ahead and maintaining your market share requires continuous innovation, adaptability, and a deep understanding of your target audience’s needs.
- Variable Pricing Strategy
Unlike traditional businesses that stick to a single price, the pricing approach of SaaS is different. They offer multiple pricing tiers and options, and it’s not just to confuse you! This segmentation is actually a smart move to cater to different types of customers and industries with their own unique needs and budgets.
You see, finding the right pricing strategy in SaaS marketing is crucial. It’s all about understanding how each product feature aligns with what customers are willing to pay.
You don’t want to give away valuable features for free if your competitors charge for them. Instead, you want to price your features based on their real value and show that you understand your customers’ pain points. It’s all about striking that sweet spot where your pricing resonates with customers and sets you apart from the competition.
That’s all – the difference between regular marketing and SaaS marketing! So you surely need a rock-solid marketing plan for your SaaS product.
Moreover, did you know that the worldwide SaaS market is expected to hit a whopping $195 billion in 2023? That’s a 17% jump from last year! With such rapid growth in the sector, plenty of exciting opportunities exist.
And to have a killer SaaS marketing strategy, you’ve got to understand your potential customers—who they are, where to find them, and how to engage with them effectively. It’s all about finding the right approach that works for you.
So let’s discuss the best SaaS strategies.
Top 8 SaaS Marketing Strategies of 2023
When it comes to marketing a SaaS product, there are two important aspects you need to focus on – drive as much organic traffic to your website and promote and showcase your service to turn that traffic into actual sales effectively.
To help you out, we’ve organized our proven SaaS marketing strategy into two sections. The first section is all about boosting traffic to your SaaS site. Once you have the traffic flowing, we move on to the second section—converting that traffic into sales.
Generate Website Traffic
The more eyes you have on your site, the better chance you have of converting them into customers. Let’s see how you can get that.
- Use Content Marketing
When it comes to generating leads for your SaaS website, content marketing is an excellent avenue that can keep people coming back for more—if you do it right, that is.
The key is to publish top-notch content that resonates with your target audience’s interests.
Now, you must also optimize your blog content for user intent and keywords. Each piece should aim to answer a specific query or address a pain point that potential customers have been researching.
If someone is searching on Google with the intention of purchasing a service, they will expect to land on a sales page. But a blog post will likely be more appealing if they’re looking for informational content.
Understanding where your potential customers are in the sales funnel is key, and having the right content available is crucial. It could be a landing page, detailed case studies, informative blog posts, or any other relevant format.
However, having great content alone isn’t enough. To maximize the visibility and reach of your content, you also need to engage in effective Search Engine Optimization (SEO) activities. Now, let’s delve into how SEO can be beneficial for your content marketing strategy.
- Search Engine Optimization (SEO)
SEO and content marketing go hand in hand to ensure your content gets discovered on search engines. When it comes to SEO, there are two main categories to consider: on-page SEO and off-page SEO.
Let’s start with on-page SEO. The great thing about on-page SEO is that you have full control over it. This involves creating content that people genuinely want to read, share, and link to.
However, there are other factors to keep in mind as well. This includes developing a solid keyword strategy, implementing internal linking within your website, optimizing titles and descriptions, ensuring fast page load times, and creating a user-friendly interface.
Moving on to off-page SEO, it is commonly associated with link building, which indeed plays an important role. However, there’s more to off-page SEO than just link building. While building links is important, the quality of those links holds greater significance. It’s better to have a few high-quality links from trustworthy and authoritative websites than a large quantity of low-quality links. Social media also plays a crucial role in off-page SEO, as shares and links from influential social accounts act as another indicator of quality.
To gain links and shares, it’s essential to create a distribution strategy. Remember, SEO is an ongoing process, and it requires continuous effort to stay ahead of the competition and maintain a strong online presence.
- Paid searches or PPC
Paid search or pay-per-click (PPC) advertising is an avenue definitely worth exploring in your SaaS marketing strategy. It’s like having a turbo boost for your visibility and reach.
While content marketing and SEO are important for long-term organic growth, PPC can provide quick traffic wins and immediate visibility. It’s not a replacement for content marketing and SEO but rather a complementary approach to maximize your marketing efforts.
Setting aside a budget specifically for branded search terms is crucial. These terms include your company name and are likely to be targeted by competitors as well. By investing in PPC ads for branded terms, you ensure that you maintain a strong presence and capture potential customers who are actively searching for your specific solution.
Creating compelling and engaging ad copies is key to attracting attention and driving conversions. Your ads should clearly communicate the unique value proposition of your SaaS product and entice users to click and explore further.
To optimize your PPC campaigns, continuous testing and optimization are essential. Experiment with different ad variations, test various keywords, and closely monitor performance metrics. This iterative process allows you to fine-tune your campaigns, improve conversion rates, and maximize the return on your advertising investment.
- Getting Industry Exposure
Getting industry exposure for your SaaS business builds trust and credibility among potential customers. Reviews and testimonials hold a significant influence on the decision-making process.
To gain industry exposure, it’s important to leverage SaaS review sites like G2 Crowd and Capterra. These platforms provide a valuable opportunity to showcase your SaaS product and gather positive reviews from satisfied customers.
Having your business listed on multiple review sites increases the chances of attracting site traffic and gaining visibility. While not all sites may feature your business, securing listings across different platforms is worth the effort.
Positive reviews on these sites serve as social proof and help persuade potential customers of the reliability and value of your SaaS offering. The more positive presence you have across review sites, the stronger the impression you make on potential customers.
Using the Traffic to Make Sales
Let’s talk about turning website visitors into actual customers for your SaaS business. Here are some things you can do.
- Keep the Choices Limited
It may seem counterintuitive, but offering too many options can overwhelm SaaS customers. Instead, it’s better to limit the range of choices, making it easier for them to decide.
The phenomenon of decision overload, also known as choice paralysis, occurs when individuals are presented with an excessive number of options. Instead of feeling empowered by the variety of choices, they often feel overwhelmed and struggle to make a decision. This can lead to a delay in the decision-making process or even result in customers abandoning the process altogether.
By limiting the range of choices, you simplify the decision-making process for your customers. You narrow down the options to a manageable number, making it easier for them to evaluate and compare the available choices. This streamlines their decision-making journey and reduces the cognitive load they experience.
- Be Transparent about Pricing
When it comes to pricing, some SaaS businesses adopt a mysterious approach by keeping it hidden until they believe they have captivated your interest in their service. Their intention is to generate curiosity and build anticipation before disclosing the cost. But let’s be honest, that can be a major roadblock in customer acquisition.
Put yourself in the shoes of a potential customer. You’re browsing a website, eager to make a purchase or subscribe to a service. But without knowing how much it’s going to cost, you start feeling uneasy. Will it be too expensive? Is it worth the investment? Doubts start creeping in, and you might just end up abandoning the site, searching for alternatives that are more upfront about their pricing.
This lack of transparent pricing can be a massive source of loss for SaaS businesses. Customers want to know what they’re getting into financially before committing. They value transparency and being informed.
Instead of hiding the price like a secret treasure, be open about the cost of your services. Showcase your pricing structure and how each plan or package delivers value clearly. Help potential customers understand the investment they’ll be making and the benefits they’ll receive in return.
By being transparent about pricing, you not only build trust with your audience but also save them time and effort. They can easily evaluate if your service fits within their budget and compare it with other options. It’s about empowering customers to make informed decisions without any unnecessary hurdles.
- Offer Free Trials and/or a Freemium Model
Free trials have become a staple in SaaS marketing, and it’s not hard to see why. They are a powerful tool for selling SaaS products because they give users a chance to experience the software firsthand. You can roll up your sleeves, click buttons, and navigate through all the features.
But wait, there’s more! If a free trial doesn’t quite tickle your fancy, another option is the freemium model. This is where a SaaS company offers a free version of their software forever. You can use it to a certain extent, but you’ll need to become a paying subscriber to unlock all the bells and whistles..
It gives customers a taste of the benefits they’ll receive by signing up, enticing them to rely on your product and integrate it into their daily operations. It’s like offering them a slice of the cake, but if they want the whole cake with extra frosting, they’ll need to join the club.
Whether it’s a free trial or a freemium model, these strategies serve as powerful magnets in SaaS marketing. They break down barriers and provide potential customers with a firsthand experience of what your software can do. It’s all about removing doubts, building trust, and showing them the value they’ll gain by choosing your solution.
- Simplify the Signup Process
People have a knack for abandoning ships when they encounter lengthy and intricate signup forms. Even if they were initially excited about your product, the hassle of filling out a never-ending questionnaire could quickly deflate their enthusiasm. They might start questioning if it’s really worth the trouble, and before you know it, they’re off to explore other options.
That’s why you must make your signup process as quick and easy as a breeze on a summer day. Remember, you’ve already won them over with your exceptional marketing and persuasive website. Now it’s time to seal the deal and ensure nothing stands in their way.
Think about it from their perspective. Put yourself in their shoes. When you’re all set to sign up for a service, the last thing you want is to get entangled in a labyrinth of unnecessary questions and requests for information you’d rather not provide. It’s like being stuck in a never-ending loop of frustration.
So, make your onboarding process clean, efficient, and hassle-free. Request only the essential information required to complete the new customer registration process. Keep it simple and straightforward. Don’t bombard them with unnecessary fields that make them question their decision.
Your goal is to make it as easy as possible for them to complete the signup process. The fewer steps they have to take and the less time it consumes, the better. Remember, you want to minimize any excuses or second thoughts that might arise along the way.
So, take a good look at your signup form, trim the fat, and create a seamless experience that leaves them saying, “Wow, that was quick and painless!”
By implementing these strategies, you can increase the likelihood of converting website visitors into valuable customers for your SaaS business.
This guide is a valuable starting point to grasp the fundamentals. The best part? You don’t need a massive budget to kickstart the growth of your SaaS business. What matters most is having a great product that solves a real problem, finding the channels that resonate with your target audience, and crafting a compelling message that positions your product effectively in the market.
In many ways, SaaS marketing follows the same principles as traditional marketing. So, if you’ve already identified a tangible need or pain point in a specific niche for your SaaS product, you’re already off to a fantastic start. Why is that? Because marketing a product that doesn’t address real issues or fulfill genuine needs is undoubtedly one of the toughest challenges to overcome.
Ready to take your SaaS marketing to the next level? Contact LSS, a leading growth marketing agency, to accelerate your business growth today.