B2B SAAS MARKETING
What Is B2b SaaS Marketing And How To Improve Its Effectiveness?
Marketing is a field that revolves around selling and promoting a product to possible customers. b2b saas marketing is similar to that. When a developer creates a new SaaS software or application, they need to bring in more customers who will buy the packages. To ensure that the idea reaches them and becomes intrigued by the tool provided, proper marketing should be done. This type of marketing is all about promoting and selling SaaS tools. It can be quite different from traditional marketing, as it selling a service instead of a product that one can touch. More prominent companies can reach their customers through TV, newspapers, etc. In contrast, the smaller ventures will have to use online mediums, email marketing, etc. Here is a complete guide that will help one understand b2b saas marketing better and develop better campaigns.
SaaS marketing versus traditional marketing
SaaS tools and applications cannot be touched and cannot be played with. Also, SaaS applications target limited businesses and clients. Well, that makes marketing quite a hectic and hassling task. When the customers are narrow, there is no product but only information, and there is constant change in the development, marketing can be difficult. Marketing is not an easy job and is quite different from traditional marketing campaigns and projects. Here are few pointers that show that b2b saas marketing is different from traditional marketing:
1. Short sales cycle: Software is one of the things that keep updating and changing over time. That is why it is said to have a much faster sales cycle. The clients tend to find software, buy, use it, and be done with it. This is one of the significant differences in traditional marketing, where the sales cycle tends to extend long.
2. Long term: Now, though the sales cycle tends to be smaller, the relationship one has with customers tend to be long-term. The revenue for most SaaS tool builders comes from older customers. That is also one reason why customer retention is one thing that providers should work on using various marketing saas solutions.
3. Information oriented: In this type of marketing, there is a significant role of communication. In traditional marketing, the products can be shown to the customers directly. Such a thing cannot happen here. One will have to propagate information and make sure that more and more people are informed about the tools that can be useful.
4. Free trials: Another thing that SaaS marketing does differently is providing free tests. In traditional marketing, the majority of the products do offer free trials. In SaaS applications, open problems are crucial, which holds a lot of importance for getting long term customers.
5. Service: Lastly, the SaaS applications are more like services. The software is maintained and deployed as per the provider, and the end-user gets the services. Therefore, these tools' b2b saas marketing is different too, as one needs to directly show their customers the benefits.
SaaS marketing metrics
When it comes to marketing, tracking and reviewing the metrics tend to be the most crucial thing. Tracking the metrics gives an overall idea of how the tool performs and what changes need to be made. Usually, the SaaS providers give out free trials to their subscribers for a limited period. This is when the providers should track the metrics carefully, which will help in bettering the product. Some of the important saas marketing metrics that should be focused on are:
• CLV: The CLV is the customer lifetime value, which demotes the profit amount that the company gained. This metric is measured from the start point to the end of the customer and provider relation. This will give one an idea of how much to spend on each customer and if the current campaign style is reaping any profit.
• CAC: Cac is the customer acquisition cost, which denotes the provider's price for getting one customer. This is directly proportional to the total cost of the marketing. When the CAC increases, the incremental cost increases; the CAC should also not be more than the CLV as per the saas marketing metrics.
• Churn rate: This rate is one of the primary metrics that will tell if the product is doing good or not. Churn rate is the rate at which the customer leaves and stops using the services altogether. More churn rate means lower customer retention. Also, retaining the customer is less costly than acquiring new customers.
• CAC to CLV ratio: This ratio tells the overall condition where the business is spending more or is gaining more. This number should be low, which will denote a healthy balance between the cost and the revenue throughout the customer lifetime.
Strategies for SaaS marketing
When it comes to b2b saas marketing any product or service, choosing the right strategy or mix of systems can make a big difference. Following a procedure successfully can make the entire campaign successful and can help in gaining more customers. Not only that, but the right system will also help retain customers, which is the real source of revenue. Here are some methods that can be useful:
• Content marketing: One of the best ways to market SaaS applications and tools is by making the audience informed. Create content of various types that provides information to the audience. This can be done by knowing the most relevant topics these days, using SEO strategies, and keeping the audience engaged.
• PPC: Organic traffic is one of the biggest and best ways to get more audience and leads. But, sometimes, this can come to a halt, and quality organic traffic may get reduced. That is when the PPC campaigns can come in handy. One can use these paid ads to get more leads.
• Pricing: Another very crucial thing that the campaigns should pay attention to is the pricing plans. A useful pricing page will help the leads to check if the plans are in their affordability. State what they will get and what all features come under a particular program.
• Free trials: This is tactically the most used strategy by most SaaS applications. SaaS applications are a type of service, and before investing in the long term, the customer would want to try the tool out. Thus the seller for marketing saas can provide free trials to the leads to get an idea about what the software is about and how it can be valuable.
• Easy sign up When a lead is out there to try a SaaS application and wants to start their free trials, they will sign up. Now having a long and hassling sign-up will chase the leads away. Please do not ask for payment information during free trials, as it will cause the authorities to abandon it.
• Deals: When it comes to services and tools, arrangements can be a lovely point to start. Try to offer some reasonable offers and discounts to the leads to try the device out as a marketing saas strategy. Also, the values will help them in saving money, which will be another motivator for them.
• Interface: Those who are worried that the leads keep leaving the site within few minutes should look into the website's interface. Having an easy-to-use interface and easy-to-navigate structure will keep the leads interested. Anything that loads slow or has a cumbersome design will chase those leads away.
• Features and referrals: Some other ways to get more exposure are getting featured n various SaaS application review sites. One can also ask the customer to get offers through referrals, which will bring in more leads for marketing saas.
• Less choice: Lastly, one should offer fewer options to the leads while planning to get a plan. Having way too many options tend to confuse the user and, they might drop the program altogether.
Tips for better SaaS campaigning
Now, there are hundreds of strategies that one can find to promote their SaaS tools and software. It is relatively easy to fail as many factors will make or break a campaign. Here are few things and marketing saas solutions that will help in succeeding in the given SaaS marketing campaign:
• Budget: Always get a clear picture of the account beforehand. A bigger budget means choosing the expensive medium, and a smaller budget means choosing an affordable medium.
• Authority: One should get a strong authority on the topic and the niche to create better content that will attract leads.
• CTA: Always have a strong and polished CTA for the leads to know what they will get and what they should do.
• Customer support: Lastly, make sure that the customers are provided total support after buying a software plan.
SaaS tools and software are tricky to sell, as they are different from products traded daily. Therefore, the b2b saas marketing team must have a clear picture of the objective and know the right strategies. Picking the right approach, developing the campaign on the go, and keeping the customers engaged is crucial for better results. One should keep measuring the results and keep making smaller changes to the campaign to bring more leads and retain them for longer.