How to Market a SaaS Business

The SaaS industry is consistently booming with the rise in demand for software that could ease out the processes in organizations and households. It is estimated that the SaaS market will grow a CAGR of 27.5% during the 2021-2028 period. This rise leads to high-end market competition, so what can be the ways for any SaaS based startup to sustain in the market and fetch series of investment rounds.

Despite all the challenges to staying ahead of your competitors, there are sure shot strategies that can scale your startup.?

In this article, we will discuss some SaaS marketing strategies that will help the startup promote itself. Before proceeding toward it let us understand how the SaaS marketing funnel looks like.

The SaaS Marketing Funnel

With a marketing funnel, your business can get meaningful insights into your customer’s journey. This funnel is essential to understand where your customers are stuck so you can work on those critical points to improve the overall experience. If you successfully track your entire funnel, you can efficiently scale your SaaS startup by improving your decision-making process.

SaaS marketing has five critical stages in its funnel. We have mentioned them below.

• Awareness- involves spreading the word about your products and reaching out to the right audience. If you can create a fantastic impression at this stage, the customers tend to move down the funnel.
• Consideration- once the customers land on your website, your main aim must be to influence them to take action. It is only possible if you consider the customer’s pain points and provide your brand as a solution to them.
• Decision-? it is the stage where customers have to decide whether they to make a purchase or not. So you must be attractive enough, so the customers choose you over your customers.
• Retention- means creating a fantastic experience for your customers, so they come back after a single purchase and become your loyal customers.
• Advocacy- means that your customers refer your brand to others and explain why you loved their brand and product, like a loyalty program.

The SaaS marketing funnel is effective in improving the quality of leads. But this marketing funnel does not work as expected if you do not have a proper strategy to follow. But before you work on a strategy, you must consider some factors to tailor your strategies accordingly.

Things to assess while implementing SaaS marketing strategies

Each business has different requirements and expectations, so it might be possible that the same SaaS marketing strategy won’t work for all. But if you consider the below-mentioned few points, it will provide optimum results.

• Find your target audience.

Before any marketing strategy, you must know your target customers. If you do not know what your target customers want and their pain points, you cannot come up with an innovative idea to persuade them. Once you find their interests and pain points, you can create a solid and effective SaaS marketing strategy. You can analyze your competitor's customer base and study their behavior.

• Analyze your competitors.

If you have a strong competitor with the same products as yours, you must go through their customer’s journey, their success stories, and how they have overcome their customer’s pain point. If you get these insights, you can simply tailor your SaaS strategies that work better than them. You can use different tools to understand your competitor’s website, learn from their mistakes, and reach out to potential customers.?

• Come up with a unique selling proposition.

First, you must believe in your product and find a feature that overcomes your customers' pain points. Then use it to create a unique selling proposition that the customers can never ignore. Such features can make your product stand out among others. For this, you need to come up with the latest technologies to improve the experience for your customers.

Top SaaS marketing strategies to be followed in 2023

Below are the SaaS marketing strategies that will help you promote your SaaS-based startup.

• Embrace SaaS Content Marketing

Having great content is a bonus to your excellent SaaS website. SaaS content marketing is considered a primary factor in deciding growth. It is a good SaaS strategy if your website's content provides the solution to your customer's pain points. So while creating content, you must focus on quality and engaging content. The content should be effective enough to persuade customers. Also, your content should be SEO optimized to improve its visibility.

But, it is not enough; your content must be persona-driven, and keyword-optimized, adding value to your customers.

• Offer free SaaS trials.

Customers are most likely to prefer those SaaS companies that offer free trials. It improves the probability of converting visitors into customers. So you must include this strategy into your SaaS marketing where customers can understand your product, how it works, and if it is per their expectations.?

• SEO strategy

Make sure you take care of all SEO aspects while creating a SaaS-based website. Because if your website is not SEO optimized, it will lose its visibility and has a low SEO ranking. So, you must analyze your website for SEO as it drives more leads into the SaaS sales funnel.?

• SaaS PPC campaigns

Suppose your Google ads are effective enough to bring potential customers to your website. As it takes a lot of investment to create Google ads, you must ensure that they work effectively. You must work on a PPC campaign targeting potential customers, focusing on product development, scaling your marketing efforts, etc.?

Never go blindly with all the social media channels; you must find out which of your target customers use social media. If you get the information, try to create ads on that social media.?

• Leverage SaaS review sites.

Several websites let you review different products and applications available in the market. Such platforms help connect with potential customers. These websites help you create a strong customer relationship and trust among them. You can leverage these platforms to share your success stories with other customers, which may be effective enough to bring more traffic and sales.

• Incentivize referrals

For such marketing, marketers strongly rely on referral programs. This might be challenging if you are new to the SaaS market. First, analyze the market and its ongoing trend. Then create a program that will incentivize the people or companies who refer your brand publicly. This will encourage them to bring the good out of your brand and attract more customers.?

• Optimize call to action

You can simply add call-to-action forms or buttons on your website to allow the customers to take a specific action. This could be signing up for a form, making a purchase, or email registration. Such action increases the click-through rates that generate revenue. So you must optimize the call to action and make it practical to persuade customers to go with it.

Conclusion?

An increase in the number of online software raises their demand in the market. Many SaaS-based startups are developing the latest applications to offer consistent support. But to compete with one another, one must develop solid SaaS marketing strategies to promote their business and brand. While curating your strategy, you must consider these factors to be more precise.?

If you have not implemented SaaS strategies within your business, you must consider it and include more qualified leads at your earliest convenience.