The SaaS industry has grown in leaps and bounds over the last decade. Currently, an $85 billion industry, it’s expected to grow even more in future with its estimated market value being $185.8 billion by 2024. On the one hand, this is good news to SaaS founders and marketers as it proves increased demand for SaaS products. On the other hand, however, its bad news as it means more competition from SaaS enthusiasts who also want a piece of the market pie. With the right digital marketing tips; however, it’s possible for a SaaS founder or marketer to not only gain a competitive edge but also cement their place in this rapidly expanding scope of business. If you’re one, here are some top digital marketing tips that you can use to mark your place in this ever-growing industry.
Top Digital Marketing Tips for SaaS Founders and Marketers
Marketing, in general, is hard. It’s, however, harder in SaaS as it involves convincing clients to purchase a product that has no physical presence and one that is highly susceptible to change. But just because it’s hard doesn’t mean you can’t succeed. All you need is the right strategies, and you’ll be good to go. Below are a few to get you started;
- Sell the Product Before You Code
Most SaaS marketers and founders often make the mistake of creating the whole product and then marketing it. As tempting as it might be, don’t fall for this strategy. Once you validate your product idea, the next step should be selling it.
That said, before coding the product, invest in digital marketing strategies so potential users can know about it. For instance, create a landing page and use to explain how your product will impact anyone who uses it and also get them to sign up.
Depending on the reception you get from the landing page, it’ll be easier to determine how well your finished product will perform. Also, those who sign up will be your first customers.
- Target the Right Market
When marketing your product, you want customers who’ll use it instead of just reviewing it and then exiting. Therefore don’t just sell it to a wide pool of buyers and hope that one of them will try it, market it to your target market. In other words, direct your marketing efforts to people who need it the most. For instance, if your SaaS product aims at making accounting easy, use marketing methods that’ll attract the attention of individuals in the finance industry. These methods include content marketing, running SEO campaigns and webinars and partnering with influencers.
- Go Beyond the Sign Up
Once they get a customer to sign up, most SaaS marketers and founders often make the mistake of not following up on the said client. Unfortunately, it’s a costly mistake as the client is less likely to renew their contract once their membership period is over.
Therefore, continue marketing even after the client signs up. You can do this through value creation. For instance, organize forums for your clients to connect and empower each other or send them tips on how to get the most out of your SaaS product. If you have a CRM system, congratulate them when they make a sale and encourage them when they don’t.
Doing this not only helps you retain the said customer but also enhances their satisfaction. As a result, they become more willing to recommend your product to potential clientele which in turn helps you grow your market base.
- Stay One Step Ahead of Your Competition
Your competitors are a great source of information. Based on their performance, you can know which strategies are the most effective and what you can do to make them even better. For instance, if you’re having a hard time coming up with creative keywords for your content, do a comprehensive competitor research to see their top-ranking keywords. With the results, you can then work on coming up with even better keywords to improve your visibility.
In a Nutshell
Excelling in the SaaS industry is no rocket science. You need to be creative with the existing strategies to gain leverage in this area of technology. Many are doing it, and you too can become one of them. Check us out for more useful digital marketing tips like the ones above.
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