Did you know that the global Software as a Service (SaaS) market was valued at $215.10 billion back in 2021? If that wasn’t staggering enough, it’s forecasted to grow to $883.34 billion by 2029. This is certainly an industry that’s showing no signs of slowing down.
However, this also means that competition is fierce! So, you need to do everything in your power to stand out from the crowd.
Considering that, we’re going to take a look at some of the different ways you can do so by implementing the most effective SaaS marketing strategies.
What makes SaaS marketing different?
Many articles online today talk about marketing in general, but they fail to acknowledge that marketing differs across industries. SaaS marketing, in this case, is very different from other forms of marketing.
One of the main reasons for this is because the sales cycle is incredibly short. In the B2B world, long sales cycles are the norm. However, this is not the case for SaaS, which is all about rapid sales.
When SaaS customers require a solution, it often looks like this:
- They do some research online
- They might ask a colleague or two
- They watch a demo or try a solution
- They buy it
The entire process may only take a few hours, or at most a few days.
Some other differentiators to consider are as follows:
- Information is your greatest asset
- Customers are typically long-term
- You’re selling a service more than a product
Can you hire a marketing agency for SaaS?
Yes, you most certainly can hire a specialist marketing agency for SaaS, and in many cases, it makes sense to do so. After all, if you don’t have the time, resources, and knowledge to implement SaaS marketing effectively, it’s better to capitalize on the services of a company that does.
Nevertheless, it still makes sense to have a good understanding of the different SaaS marketing strategies that are effective so you know what you’re paying for.
What are the best SaaS marketing strategies?
1. Content marketing
There’s only one place to begin when it comes to SaaS marketing, and this is with content! Content marketing is imperative in building your brand, attracting visitors to your website, and generating leads.
Just lime a smart investment, content marketing increases in value over time. It has a compounding power of return, and that’s what makes it so special.
Other forms of marketing, such as PPC, will only drive returns as long as you keep spending. However, with content marketing, you’ll continue to drive leads long after your article has been published.
Tips on implementing content marketing as an SaaS business
- Write for each stage of the funnel
- Create for a problem, not a solution
- Develop a conversion keywordstrategy
- Capitalize on your unique data
- Give your blog an overhaul
Also known as remarketing, retargeting enables you to dramatically boost conversions by re-engaging people that left your site.
You’ll basically track website visitors, and then while they’re visiting other websites around the web, you’ll display online adverts to draw them back in.
A lot of ecommerce websites lead the way with retargeting by offering contextual offers to lure back site visitors.
Think about: how many times have you been looking at clothes online only to have then left the website and started noticing adverts, often with a discount, promoting the clothes you were looking at? That’s retargeting, and you can certainly use it in the SaaS market.
Some of the different ways you can retarget potential SaaS customers
- Reach back out to website visitors
- Connect with free trial users who didn’t convert
- Target your gated content downloaders
- Nurture your existing customers
3. Referral marketing
More and more professionals are realizing just how lucrative referral marketing can be. However, there’s still a lot of debate as to whether businesses should incentivize referrals.
Those who think you should incentivize referrals believe that you’re not going to generate a lot of referrals if you don’t provide some sort of incentive.
On the flip side, others believe that you’re going to get low value quality referrals if you incentivize too heavily.
Ultimately, the best thing to do is test what works for your SaaS company, and then optimize specifically for this.
You’ll also need to make sure you create a powerful landing page on your site where people can make referrals. Make it as easy as possible!
Steps to follow when creating an SaaS referral program
- Give your customers a reason to share your software
- Decide what your SaaS referral program is about
- Select the right incentives to motivate consumers
- Think about offering an SaaS referral fee
- Make it easy and quick for users to share
- Promote your SaaS referral program
- Use SaaS referral software to track ROI
4. Search engine optimization (SEO)
Search engine optimization is all about making sure your SaaS business is as visible as possible on Google so that you get more traffic and leads.
There are several different SEO techniques and AI-powered SEO tools you can use, which will fall into either on-page or off-page SEO.
On-page SEO is all of your website content, including titles, descriptions, international linking, your keyword strategy, UI, and page load time. All of this is in your control.
Off-page SEO is not only link building, but it includes the likes of social media, links from influential people online, and anything else that’s external and can be used to build your authority.
Some of the steps you can take to boost your SaaS SEO
- Run an SEO audit
- Carry out keyword research
- Research your competition
- Enhance the user experience your website provides
- Improve your website’s speed
- Optimize your site for mobile use
- Fix duplicate content
- Improve your website’s linking
- Produce original, engaging, and exciting content
5. Product trials
Last but not least, we cannot talk about SaaS marketing without mentioning product trials. Nothing beats “test driving” a product, right? If you’re able to try a product, this is the best possible way of figuring out whether it’s what you’re looking for.
A product trial is the next logical step after someone watches a video about how your SAAS product or service works.
Trials are particularly effective if you’re selling to an tech-savvy audience who wants to experience the product first.
In fact, when looking for software, a lot of people simply won’t even consider businesses that don’t offer a trial.
Some may assume that there’s a reason you don’t offer a free trial. Maybe you know your product isn’t one of the best on the market, so you’re worried people will go elsewhere?
Of course, this may not be the case, but it’s what people may assume. It could be that you don’t want to offer a free trial in case people simply use your product for a short space of time free of charge rather than investing in it. In this case, you may want to consider providing a demo instead.
Some of the best practices when offering a free trial
- Offer personalized account setup
- Offer helpful resources
- Show trial users the value they’re getting
- Offer personalized support
- Provide clear instructions
- Make sure the sign-up process is easy
- Narrow down your target demographic
Reach more customers with SaaS marketing
So there you have it: some of the different strategies that you can use to boost your visibility and generate more leads. The tried-and-tested approaches mentioned above can help you to take your SaaS business to the next level.
What does SaaS marketing mean?
SaaS marketing is the process of building awareness and using different techniques to sell software. You can use a range of different strategies, from SEO to providing free trials, to reach more people and lure them into purchasing your solution.
How do you create an SaaS social media marketing strategy?
The first step is to identify what platforms your target market uses, so you can focus your efforts there. Once you’ve done this, you can post engaging content that encourages people to interact with your SaaS brand. Make sure you don’t simply post a string of promotional messages. Engagement is key. You may also want to buy social media ads to reach a broader audience.
What should an SaaS business spend on marketing?
There’s no specific figure when it comes to the amount your business should spend on marketing. It depends on your financial situation and your goals. One common method for working out a suitable budget is to use 40% of your revenue-growth delta.
Ashley Davis (or ‘Ash’ for short) is the CEO & Founder of Skyline Social. For over 15 years, he has been helping business owners with lead generation. Ash specializes in helping businesses get high-quality leads, appointments and clients each month in an automated, scalable and profitable way. You can watch his free Masterclass training to learn more.