The SAAS business model is breaking chains of success since 2010. By the end of the year 2023, the SAAS companies all over the world are expected to add $60 billion to the revenue. With the thriving success of the SAAS business model, marketing of the SAAS products will grow too. The competition will get quite tough and SAAS marketers will have to come up with new marketing strategies to promote their products.
Marketing your SAAS product is tough and challenging for many SAAS companies. Unlike traditional businesses that leverage traditional as well as digital marketing strategies to sell their services or products, SAAS companies must deal with a complex set of challenges when it comes to marketing.
For instance, one-time customers for SAAS companies are a danger even though it gets them the revenue to grow. All SAAS companies must build a network of loyal customers. Most of the SAAS products work on a recurring subscription model. That is why all of the SAAS companies need to retain their customers.
If you have a SAAS product you want to promote and market, you would have to face a lot of competition. In the ever-growing digital era, you need applicable SAAS marketing strategies to make considerable commissions.
SAAS product is short for ‘Software as a Service’ product. Technically, the product is software that companies build, sell, and receive commissions. Effective SAAS marketing provides good results and turns qualified leads into long-term customers.
According to CoSchedule, SAAS marketing is the ‘process of selling and promoting a software product in the marketplace with recurring commissions.
SAAS companies are mainstream in 2020, just like traditional companies. SAAS was a small industry in the late 90s but with the advent of technology and scope of software in nearly all industries, it thrived to the point where it’s adding millions of dollars in the world revenue.
Cisco reports that 75% of cloud workloads will turn to SAAS companies by 2021. Another important study in the industry showed that the cloud computing market is expected to grow by $1 trillion at the end of 2024.
With these figures, it is pretty clear that the competition will be tough in the marketplace. If you own a SAAS company, you need a strong yet working SAAS product marketing strategy to stand out from the rest.
Marketing helps your SAAS product to acquire quality leads that later turn into long-term customers. Inbound strategies such as affiliate marketing can educate your customers and pull them closer towards the end of the sales funnel.
Here are the 6 best ways to market your SAAS product in 2020:
Skyscraper technique refers to a marketing strategy in which you look for well-performing content on social media as well as the search engine. It enables you to create better-performing content than the existing one.
The 2 big benefits of the skyscraper technique are that it gets you backlinks and boosts your website’s traffic and visibility. Online visibility helps you to gain qualified leads that later convert into customers.
However, there’s a specific way to use the skyscraper technique:
Skyscraper content educates the readers. Therefore, you must look for topics that will get attention from your potential customers. After that, you have to navigate through the content explorer to choose relevant topics related to your SAAS product. Remember to set the referring domains to 50 and choose a language before getting started.
The content is already floating on social media. The next step is to curate better-performing content. These are some of the factors you should look after, before curating the content:
Try to curate content that’s comprehensive and guiding. Short articles might leave the readers confused. In addition to that, add the latest images, statistics, report references and facts if the information used in the previous article is outdated. It would be embarrassing to add a statistic that has been changed 2 years ago.
Another factor you should look after is the depth of the discussed topic. If the topic is not well-discussed, fill in the necessary details to make your content stand out on social media as well as the search engine. Add value to the previous content by adding empowering insights and useful yet comprehensive information about the topic.
Work to increase your content’s visibility. Reach out to the people to promote your SAAS product through backlinks and affiliate marketing. To begin with this step, it is better to reach out to people who have already shown a keen interest in the topic. You can either mail them or connect to them through social media.
By now, you must have identified all the social media platforms that your competing SAAS companies use. However, there must be channels that they are not using or promoting their SAAS products. Leverage the untapped social platforms to build a robust presence of your SAAS product.
Platforms like Reddit, LinkedIn, and Quora are not used by the majority of SAAS companies. However, they can help you reach your target audience, generate more sales, get leads and build authority on the internet.
Reddit and Quora do not let you market your SAAS product but they allow you to build an engaging community to pitch in sales and hook customers.
Here are some good practices to take advantage of unfocused social media platforms:
Co-marketing is a technique to collaborate and work with other brands and businesses that have a wide base of audience. In co-marketing, you promote their software and in return, they promote your software.
For instance, if you offer a social media integration tool, you can collaborate with a well-known company that offers email marketing or SEO software. Collaboration is the new way to reach a wide base of audience. Someone who needs an email marketing app might also need your tool, which is the social media integration tool. It is the best way to market SAAS products for newly-started companies.
Once you identify and contact other SAAS companies you want to collaborate with, here are some tips to build a long-lasting working relationship with them:
To expand your SAAS product’s reach and increase the visibility of your SAAS company, custom integrations can help a great deal. Not only do they promote your SAAS product but also attract potential buyers.
Partnering up with third-party app integrations such as Zapier and Strike will help you increase your app’s reach. In addition to that, Strike and Zapier will help you promote through their mailing lists and within other platforms. This in turn helps you to attract customers.
Building an extension of your app is another way to partner up and work with big search engines/browsers like Mozilla Firefox and Google. Since integrations and extensions are easy to access all the time, the chances of failing are low.
Major SAAS companies like Salesforce, Buffer, and HubSpot have already built their Google Chrome extension of their SAAS products.
When prospects know the ins and outs of your product and how it can solve their problems, that’s when you make more sales. The best way is to educate them about your SAAS product. Demonstrate its use and educate the customers about its features and advantages. Only then would they be able to see if the software fits their needs and requirements or not.
While educating them about your SAAS product, try to assist your potential customers via email. Attach a link to your email leading them to a live training session that teaches them to use the software properly.
Here’s an effective way to ensure success:
As with any product, people like to try it out first rather than spending money on it. In the SAAS industry, trials are necessary to retain customers and win new ones. Think of it as people testing out your brand before investing in it. To retain customers, your SAAS product should always be accessible to them.
However, you do not have to provide a full-fledge package to please your customers. Sometimes, all you need them to know that things will run effectively with your software. Just give the features your clients like the most and you will be good to go. The key to success lies in maintaining a balance between overwhelming your customers and demonstrating your SAAS product.
Lastly, you must ensure that they get a positive experience during the SAAS product testing. Or else, all your investments will flush down the drain. Besides providing a link to a comprehensive training session via email, consider quick assistance through webinars, chatbots, social media messengers, and calls.
You should go to great lengths to accommodate your potential clients as they are about to purchase your SAAS product in the future. Try to maintain healthy customer-brand relationships with people who have a high propensity to purchase the SAAS product.
Another way to educate them about your SAAS product is to create in-depth articles and blog posts of each feature as well as pros. Try to make them comprehensive and guiding. Demonstrate using real-life examples and use screenshots to help users navigate through the software. Also, explain how your existing customers are using each feature to their benefit.
In the SAAS industry, word of mouth is one of the most powerful marketing tools. From the affiliates’ perspective, SAAS product affiliate programs are attracting many people out there, particularly because of handsome commissions.
Word of mouth is unpredictable and to achieve growth, make commissions, and expand your SAAS business, you need to make room for formal marketing strategies as well. Satisfied customers grow your base of the audience through referrals, encouraging people to visit your website. It is known as organic traffic; however, we can push out efforts a little further and give a little incentive to customers who have websites and recommend people your SAAS product.
A pre-condition that you should look for is that you must have an established sales funnel that already converts leads into sales. You cannot expect affiliate marketing to work wonders and bring all the conversions for you.
An affiliate program toggles between distribution and scale. The affiliate does not provide commissions for a website’s landing pages if the leads do not convert. When attracting affiliates, make sure you have a high conversion rate as customer assurance and engagement helps people to enroll in your affiliate program.
For your affiliate program to be successful, you need to have a SAAS product with high demand in the marketplace. Making space for your product is the real deal. After that, it’s all up-to-date landing, enhancing customer experience, and providing marketing materials for affiliates.
Here are some affiliate marketing tips to market your SAAS product:
As a SAAS company, struggling to stand out in the marketplace, you might think creative and fun marketing strategies are limited to B2C companies only. However, it is not true, your audience too is craving for creative tactics to market your SAAS product.
Coming out with innovative marketing strategies to promote your SAAS product will set you apart from other SAAS companies sticking to traditional marketing tactics only.
SAAS industry is growing rapidly. The number of people using SAAS products is increasing rapidly. With innovative and right marketing strategies, you can turn qualified leads into loyal customers of tomorrow. Consider applying these above-mentioned techniques to widen your SAAS product’s reach and visibility. SAAS marketing is interesting but only if you make it worthwhile for your potential customers.