Covid-19 has impacted numerous elements of the digital environment, the most notable of which is the transition to a remote mode of functioning.
Of course, with the pandemic requiring more remote work than ever, the demand for SaaS would only rise. According to one study, about 78 percent of businesses have utilized or are contemplating utilizing SaaS Growth strategies.
According to BCC Research, the business application SaaS market will be worth $94.9 billion by 2022. In 2017, the SaaS market was estimated at $44.4 billion. The increase from $44.4 billion to $94.9 billion is significant.
Growth is vital for every company, but it is more difficult in the SaaS business. Gaining customers for SaaS companies requires a bit more work and patience.
The idea is simple: if you attract more clients than you lose, you are on the right track. If you do not follow this formula, your competitors will devour your customer base.
To keep ahead of the competition, your SaaS Company must change and be willing to welcome fresh clients. To do so, you must first ensure that the company is thriving and ready to expand to the next level.
If you own a SaaS company or are thinking of starting one in 2022, you might be asking what you can do as a SaaS startup to stand out from the crowd and demonstrate your value to potential customers.
Many methods have been tested and validated, but the industry is dynamic, and traditional growth approaches cannot be relied on alone.
We have created a few SaaS growth strategies that you may employ to succeed in today’s competitive environment.
Top 6 SaaS Growth Strategies you should know
1. Content Marketing – Find New Customers to Build Your Brand
A CoBloom assessment of 250 of the world’s largest SaaS companies found that the top 10% of SaaS blogs earned an average of 45,700 organic search traffic, while the worst 10% received only seven. A typical blog got 573 views.
The data shows that content marketing is a highly successful lead creation method and one of the best Saas growth strategies. This is because relevant content may help customers comprehend your product or service without making you sound sales .’ It might be used to engage with customers as they go down the sales pipeline.
Every SaaS company knows the value of having a content marketing plan . Because most potential clients are more inclined to look for a solution to their problems online, your organization must be able to provide it.
You may create authority and thought leadership in your niche by implementing a content marketing plan, but you can also attract more leads and increase brand recognition.
How to Implement Content Marketing for Your SaaS Business?
To develop a successful content marketing strategy, you must first research your customers’ problem areas and supply them with the solutions they require at various stages of their user journey.
Begin by studying essential industry issues and developing content that your target audience will find valuable.
Acquire contact information – Having compelling content is a great way to collect client information like emails and demographics. Popup CTAs may be used to increase blog subscriptions (CTAs). Another technique is gated content, which requires consumers to input information before accessing eBooks or webinars.
Drive sales with narratives – Engaging with current contacts about your business is vital. You may also use more technical terms if you are communicating to a specific audience with prior knowledge.
Improve client retention — SaaS companies that increase customer loyalty by 5% can see a 25% – 95% increase in profitability. To get there, provide content that facilitates the onboarding process.
2. Email Marketing
Email marketing is the most significant digital channel for SaaS companies, encompassing the whole client experience with one-on-one contacts. Email is the sole perfect medium for growth across the entire marketing funnel, linking all of your marketing efforts , from generating leads to customer retention.
With 3.9 billion daily email users, it is essential to retain clients feeling your product is valuable. With 81 % of B2B marketers using email in their content marketing initiatives, it is something you should not miss.
Email creates $42 for every $1 invested , a 4,200% ROI, making it one of the most effective options possible.
How to Implement Email Marketing for Your SaaS Business?
We have divided these strategies into five categories to illustrate how they cover the whole customer journey:
Email automation– Simple and advanced email automation strategies can help you manage more leads without limiting your growth.
Lead nurturing is the process of converting new leads into paying customers and keeping current customers paying for a longer length of time.
Customers must be interested in your software to continue using and paying for it.
Income/customer value: Increase revenue from each client while building a stable foundation of recurring revenue.
Financial and payment: Increase successful payments while making up for missed income.
Email is the most direct and simple technique for communicating with customers one-on-one. It may be used to communicate industry news and updates about your firm, send out onboarding emails or instructional content such as blog posts, highlight product launches and webinar invites, or provide critical offers and discounts.
To get started with email marketing , you must first build an email list. You may contact your subscribers regularly and send them weekly or monthly newsletters if you have an email list.
3. Focus on SEO
Content elements you generate must be SEO-optimized if you want people to visit your site immediately.
Search engine optimization (SEO) will assist you in rising to the top of Google search results and being found more readily by possible clients. But first, you must put forth the effort.
Utilize SEO tools or keyword research tools like Ahrefs, SEMRush, Moz, and Ubersuggest to identify key phrases and terms that best define your sector. Then, filter those alternatives down to what best represents your SaaS product and key features.
Keyword research should inform you what people are looking for and how frequently, as well as which keywords have the highest conversion rates, so you can include them in your content.
SEO is an important marketing method, and SaaS growth strategies growing your company’s engagement because 68 % of interactions begin with a search engine. However, in a world where companies strive to get their online content read, it is not always easy.
How to Implement SEO SaaS Growth Strategy?
Generate traffic using keywords – Ensure you are targeting terms your potential clients are searching for. Using the proper keywords can keep your text seeming natural.
Use backlinks – Backlinks are when another website connects to yours, and you may earn them by collaborating with another company. This is appealing to search engines since it demonstrates that your site is trustworthy.
Ensure a high-quality user experience – Search engines increasingly prioritize sites with a positive user experience
Finally, conduct a competitor analysis to see which keywords your competitors are currently ranking for, as well as examine their content – what kind of articles they are posting and how frequently – to fine-tune your own results
4. Share Customer Testimonials
Customers’ options are further muddled by the availability of several SaaS products. To encourage people to buy your goods, show them what it can do for them in more practical ways.
One option is to create a series of case studies demonstrating your clients’ triumphs. Use them to show your product in the best possible light and to highlight any data/numbers that indicate the benefits of using your product.
Aside from case studies, you might incorporate social media updates (UGC), reviews, and client testimonials on your website. This type of social proof is quite useful.
According to Dimensional Research, a tech market research organization, positive evaluations influence % of customers’ purchasing decisions. If you want to use client testimonials for SaaS marketing, there are a few strategies to consider and regulations to follow.
How to Implement Customer Testimonial as SaaS Growth Strategy?
Using client testimonials for SaaS marketing can be a great way of establishing authority, credibility, and trust among your potential consumers, but you must use them with caution. In some circumstances, misusing consumer testimonials may result in legal consequences. Here are some pointers to keep in mind
1. Be transparent and upfront
Inform customers that their opinions could well be utilized as testimonials. Do this before they provide any remark. You just need to add text that explains this explicitly if you are asking for client testimonials online or through your contact points. The finest recommendations are earned through honest ways rather than unethical ones.
2. Correct Use of Reviewers
When we see great reviews on review sites, we are all overjoyed. We do not, however, have an automatic license to use them as testimonials.
3. Keep the Testimonial Integrity
Most people can tell when quoted documents have been tampered with to suit the purpose of the entity giving them. Misquoting and modifying testimonials to meet your needs undermines their credibility.
Using the power of surveys and website SEO , you may collect more testimonials as part of a one-time or ongoing campaign. Consider engaging an outside marketing team if you want further support.
Referral marketing relies on individuals spreading the word about your SaaS Company. Because of the cheap direct cost and high conversion rate, it is quickly becoming one of the most successful growth tactics for new SaaS companies.
A referral program is a low-cost technique for expanding your client base that rewards existing consumers for suggesting your company to others.
Set up a referral network and watch your core audience develop instead of relying solely on marketing campaigns, which can be time-consuming and costly. Referrals work because people are more likely to believe a friend, family member, or coworker than ‘cold’ advertising.
Rewards might range from credit incentives to reductions on a customer’s subscription plan.
How can I implement the best referral practices?
Target the right referrals – By including contact information with submissions (such as job title or industry), your employees can evaluate whether clients are worth considering. You will save time and money while boosting your chances of converting the right leads.
Use software support – Technical platforms can assist your referral campaign in reaching its full potential.
SEO is a great approach to getting started quickly, but as previously noted, patience is essential – it takes weeks to build domain authority. As a result, SEO should be used with pay-per-click advertising (PPC). PPC campaigns allow you to run your own product or service advertisements, such as through Google Ads.
PPC may help you build a competitive client base, which is ideal for tiny SaaS firms! It also produces money faster than other digital marketing tactics. You will see immediate results, communication with your target consumers, and increased brand awareness.
How can I Implement PPC as SaaS Growth Strategy?
Identify target audience – You must guarantee that you are targeting your ideal consumer profile. Otherwise, you will be wasting money. You must target folks who are actively looking for your products and services. Therefore, spend time researching keywords to optimize your adverts.
Analyze your Budget- It is simple to go over your budget with PPC without realizing it. Set a strict budget and adjust your advertising based on your desired outcomes.
Check campaign outcomes – Make sure someone is monitoring how your campaigns are doing and adjusting target audiences, keywords, and budgets as needed.
There you have it, all ten tried and proven SaaS growth strategies for the modern market. To grow, you just need to take a step ahead and use these techniques.
Even the smallest tweak may propel your company to new heights. A new perspective may help you stand out from the crowd and significantly influence the success of your SaaS business.
Developing a SaaS development strategy might provide you with a unique set of obstacles. All you have to do is comprehend them, prepare a solid strategy, and take the plunge.
As a growth marketer, you will need to constantly hunt for fresh growth hacks to fuel your SaaS firm. However, the abovementioned strategies will likely benefit you in the long run.
Also Read These:
- 5 SaaS Tools That Make Starting Up More Affordable
- The Complete Guide to SaaS Development Services
- Fastest Growing SaaS Marketing Agencies
- Top 13 Email Etiquettes That Everyone Needs to Know