Marketing is a challenging job, especially when it comes to marketing a SaaS product. What’s sure is that there is no specific formula or algorithm that can fit into every situation. The marketing strategist or head of an organization has to act immediately and alter his/her strategy based on the location, competition, requirement, target audience, and other such factors.
Many companies are of the view that subscribing to a Software as a Service (SaaS) program is better and more cost-effective than developing their systems. Agreed, it’s important for SaaS providers to develop a peculiar and high-in-demand product, but that does not mean this alone will help them develop a loyal customer base. It’s also essential to provide effective customer service and support for the simple reason that the needs and specifications vary for every SaaS customer, who can range from tech novices to industry experts. So, it’s never wise to assume that a “one-size-fits-all” approach is practical. In-depth knowledge about the customers and their needs is essential to improve offerings and earn their business.
Here are some proven strategies that work well for SaaS companies. These methodologies can help organizations deliver a better customer experience.
Understand each prospect’s KPIs
Sales process, be it automated or in-person, one should take enough time to understand what the prospect’s key performance indicators are, and why. No SaaS solution is perfect for every prospect. Finding a good fit for your SaaS solution will allow scalability and growth. Else, customer retention may become a problem.
A SaaS company should first examine the prospect and then list the KPIs. Once the company knows what exactly the customer is looking for and how they want the software to sit in the enterprise, the rest of the process becomes easy. This gives clarity into the areas that need alterations to optimize the services.
Get hold of customers’ workflow and pain points
Organizations need to dig a little into understanding customer choices and patterns before they serve them. In the case of SaaS companies, they must know what a customer’s workflow is. Like how it is will solve users’ problems and issues.
As a first step, organizations must understand unique expectations, challenges, and obstacles. They must get to know their users’ pain points and ensure that the product addresses all their queries. Once you get an understanding of your customer’s expectations, show them how your product can add value to their work processes.
If one goes ahead with building something new and fancy, it will surely appeal for a few days, but if there are no positive results, your product will not last for longer in the market. It must be ensured that new customers feel valued. Only then they will stick with your product longer.
Set your prices based on consumption patterns
SaaS companies must divert from the traditional practice of subscription models or seat-based pricing. Instead, they must find success with product-led growth long with usage-based pricing. This means that customers will pay only for the value they receive. Consumption-based pricing allows customers to buy credits based on their usage expectations. This is a sure-shot way to develop customer trust in your company.
It’s a win-win for SaaS companies, too, as they get enough room to innovate and improve upon the services. In and all, it’s a win-win situation for both companies and customers. The latter gets value for money, and the former’s product will remain afloat in a competitive world.
Make your product accessible
Apart from catering to the needs of the customer’s it’s also important for SaaS companies to ensure that their products are accessible to all. Organizations must strive to make their products more accessible than yesterday. Instead of directly giving away a monthly or weekly, or yearly subscription, one can start with a free trial. Once people get an understanding of your product or get accustomed to it during the trial period, they will automatically direct it towards a subscription.
Try not to make it for too long, or you can also go for a seven-day free trial instead of 14 days or 30 days trial period. This way, your customers will be able to explore the value of your product themselves and, thus, you can eliminate marketing and promotional events and activities.
Conduct surveys and reviews regularly
It’s a good practice to get social proof by getting into SaaS review sites to increase marketing performance. Software review websites are essential to building trust and authority of a newly-launched SaaS company. This way, potential customers can see what others said about your company’s product and learn from their experience and have a significant impact.
On another note, it’s always good to do research on review sites before launching your SaaS product. You will get an idea of the user’s pain points, what people are saying about your competitors, and what message you should highlight on the sales page.
The SaaS company must also follow one positive practice, which is about responding to customer reviews and showing them your willingness to improve on your product.
Make it easier for customers to get product information
This is something that’s known but having a business op around a customer-centric mindset is a win-win. With the proliferation of the market, buyers have become smart and are capable to find the right information even in pressing times. In such cases, if a SaaS company tends to make it impossible for a customer to learn about their product through demos or gate information, it tends to put off the customer. Instead, SaaS companies must put forth as much information as possible to make it easier for the customer to buy the product.
Emphasize on security
Owing to security reasons, many clients do not allow their data to be stored in SaaS platforms for the simple reason that private data is important, too. In such a scenario, if companies want to thrive in this space, they ought to be transparent in showcasing controls, capabilities, and assurances they have thought through common and edge-case scenarios.
Product updates must become a practice
SaaS providers must emphasize ongoing enablement. Platforms like these deliver new enhancements and features and tell a lot about serving customers. Many users are unaware of opportunities that come with new updates and features on the SaaS product, which can deliver great outcomes and customer experience.
Wondering how to do this? Service providers must make the shift from passive models to active and engaging models. If you do all of it, the clients will be satisfied, and subscriptions will also grow.
With these eight SaaS marketing best practices, you will be able to:
- Capture new users and customers
- Engage existing ones
- Generate noticeable revenue
- Gather unparalleled goodwill
We hope these points give you a complete idea of how to proceed with your SaaS product, whether new or old.
Thanks in advance!