In the SaaS industry, dynamics and volatility are high. Businesses can generate leads and sell their products using conventional marketing tools. On the other hand, SaaS companies face different challenges.
For SaaS companies with subscription models, customer acquisition and retention are crucial. SaaS companies must develop successful marketing strategies as competition is overgrowing. Moreover, it is said that by 2024, the global cloud computing market is expected to reach $1 trillion, according to a recent study. With such a huge market, the competition is likely to get fierce.
Does it matter how much revenue you make or how many active users you have? Yes, definitely. An organization’s most critical success indicator is not revenue or customers but a steady flow of leads. Their growth would be stifled, unable to scale and move forward without it. A growing business with scarce resources needs to take this into account even more.
Despite that, it can still be a win. Marketers who follow best practices for B2B SaaS still generate huge amounts of leads. There are still a lot of opportunities when it comes to SaaS B2B lead generation, whether it comes from SEO or content marketing. Then you’ve landed in the right place if you want fool-proof tips for SaaS lead conversion that actually work, instead of the common tips you’ve seen everywhere.
In 2011, Marc Andreessen didn’t lie when he said, “Software is eating the world.”. The SaaS industry continues to grow and will continue to gain market share.
This change is because of technology. Creating software has never been so easy and affordable. Credit goes to the wide access to the Internet. More companies are competing for customers. Since entry barriers have been lowered and customers have greater access to the software. Software companies are put under huge pressure to perform quickly!
Let’s take a moment to understand what SaaS lead generation is before looking at these strategies in detail. Leads can be defined in various ways depending on your business model.
1. Someone submits the inquiry form to get a quote
2. Someone calling a salesperson to know more about the product
3. Someone register for a free plan
4. Someone downloads a company brochure or PDF
5. Someone subscribes to email or newsletter
Increasing the number of qualified prospects that take one of these actions is the objective of a SaaS lead generation campaign. Data is collected, analyzed, and evaluated during the campaign, and continuous improvement should be made to actions that are most likely to boost sales.
Organizations seeking access, functionality, and versatility in a highly competitive business environment are increasingly choosing software-as-a-service (SaaS). Companies don’t need to install and run software applications on their own computer systems or data centers when they can use SaaS software solutions and online data analysis. As a result, these innovations are becoming more popular every year.
SaaS is dominating cloud computing. Gartner estimates that the service-based cloud application market will reach $143.7 billion by 2022 – that’s a staggering amount of growth that will shape SaaS trends for 2021.
Several emerging trends such as AWS, platform APIs, app marketplaces, and many others have made it easier to develop software as a service (SaaS), and virtually all niches and needs can now be served. In the last few years, companies have gradually increased their spending on SaaS applications.
Here we can consider how the hospitality and restaurant sector is leveraging SaaS platforms to streamline their operations. According to Forbes, SaaS technology will become the dominant computing solution for businesses by 2018, replacing infrastructure and platform-based services.
Yet many restaurateurs and business owners are still unfamiliar with SaaS, despite its rapid growth. But the pandemic has slapped these kinds of businesses and compelled them to pivot their operations by embracing digital solutions as it has the potential to automate tasks while spending less.
However, if you are engaging with the restaurant business and looking for powerful solutions, considering the below-listed platforms won’t hinder your restaurant business growth,
1. E-Delivery by Elluminatiinc is a renowned delivery solution that restaurants can use to automate mobile ordering and delivery operations as it is brimmed with certain modern features.
2. TouchBistro is a popular name that allows restaurants to manage their operations in a smooth manner.
3. GloriaFood is another well-known name that makes it possible for restaurants to digitize their operations.
In addition, you can gain a greater understanding of SaaS trends by reading the following statistics:
1. Current growth rates for the SaaS market are 18%
2. One or more SaaS solutions will be used by 99% of organizations by the year 2021
3. Approximately 78% of small businesses have already invested in SaaS solutions
4. In the years leading up to 2023, analysts predict that the global SaaS market will be worth $60.36 billion, representing a 9% CAGR.
We’d like to explain how a typical SaaS sales process works; after that, we will focus on lead generation strategies.
SaaS sales processes may vary based on the type of product, the pricing model, and the type of company you are targeting. While the majority of SaaS companies follow a few common steps for growing their customer base, there are still some common steps to follow.
In a recent study, the ClickFunnels team analyzed sales funnels from three of the most popular SaaS companies. A SaaS sales process should contain at least four steps, according to their analysis:
1. Brand awareness, when the leads are only learning about your products through online sources, such as social media, content, paid to advertise, lead magnets, etc.
2. Engagement occurs when customers interact directly with your brand, such as website mail, social touch, etc.
3. Lead nurturing, for instance, using customer retargeting campaigns via follow-ups and emails.
4. Conversion, be in the form of order inquiry, product demo request, or actual subscription.
These are the four simple steps that usually take place in the SaaS sales process. Now without any ado, let’s discuss lead generation ideas for SaaS businesses.
A lack of resources, including monetary resources, is one of the biggest challenges for lead generation, even though 53% of B2B marketers spend half or more of their budgets to attract new customers. There is no wonder that most SaaS companies are constantly looking for lead generation tactics that are as efficient as possible.
If you are interested in increasing SaaS sales without breaking the bank, you should consider these ten strategies.
Lead generation can be achieved with content marketing. More visitors to your website can be attracted by high-quality content on your online platforms. Content marketing is a strategy employed by 84% of companies, according to Semrush.
The best method for generating leads is content marketing because it offers valuable information that traditional advertising does not. There are several types of content most commonly used:
– Blog posts
– YouTube videos
Insightful content can help SaaS companies generate leads because it educates customers and encourages them to buy your products. Furthermore, content marketing attracts large audiences at no cost.
You can generate SaaS leads without spending thousands of dollars on TV advertisements with a single blog post. It’s also amazing that one piece of content can last you your entire business life, giving you a huge return on investment.
SaaS businesses need to maintain a close relationship with customers in order to generate leads. You could accomplish this by using online forums, targeted advertisements, and blogs. Know exactly where your customers are, keep in touch with them, and do not underestimate this process.
Lead generation does not happen overnight. To create thought leadership, you should also be active on social media platforms, write on platforms where your prospects spend most of their time and contribute to them regularly.
By writing in the most prestigious newspapers or magazines or appearing on business news on television, entrepreneurs or CEOs can lure followers.
In any marketing campaign, whether you are advertising a reality show or a billboard you see every day on your way to spin class, paying for your prospects’ attention is one of the oldest and most popular methods.
Many SaaS startups can’t afford to use the traditional methods, such as TV ads, commercials, and Netflix’s $300,000,000 offer for a billboard company. In contrast, pay-per-click advertising on platforms like Google or Facebook allows almost any budget to reach online advertising.
In general, it works best for companies that have just started and do not have the resources to establish other marketing channels. You may be able to gain traction using this technique if you are an unknown entity and no one is searching for you.
SaaS review directories provide a new PPC channel in areas where AdWords and sponsored social media are too crowded. Yes, there are many fastest-growing B2B review sites, with over 5,000 business applications in an easy-to-use indexed format, many of which are your future customers.
For instance, if the user searches “best accounting software” or “top 20 project management software”, they will see the top review websites that consist of a list of accounting software from various companies with all the basic product details. By clicking on a particular software’s name, the user will be redirected to the website and can know the information about the particular product.
For SaaS companies whose services are complex or unfamiliar, free trials are an excellent lead generation strategy. By allowing prospects to try out the full service, lead generation can be maximized, and they are more likely to make an evaluation and ultimately a purchase.
You can easily get prospects to sign up for a free trial when you don’t ask for too much information (e.g., credit card information, contact details) at sign-up.
It is common to use live chat software to simulate the in-store customer experience. If you’re a small business or a startup, you lack the bandwidth to handle multiple complex requests simultaneously. As a result, customer experience can be negatively affected, and revenue can eventually plummet.
In order to generate leads, score, and support customers, AI-powered chatbots are becoming an increasingly popular tool for SaaS companies, from startups to industry leaders.
It seems that referrals in a lead generation get so little attention that we almost wonder if they don’t “count” somehow. Referrals do, however, generate leads, and referrals work just as effectively for SaaS companies as they do for any other business.
Any software or content which is available to the public can be used for SaaS referral marketing. Sales representatives might send out emails asking for referrals or ask if a client knows someone who could use their software.
Lead conversions can also be increased with an instant demo. By using the chat feature, you can clarify any doubts for the prospect and answer questions, which demonstrates your customer support. Customers who are well served will generate more leads.
Creating an instant demo may appear to be complicated, but your leader will be able to see your screen simply by sharing the desktop or mobile device.
In addition to the Advantages of promoting your content on Google, you get instant exposure in front of your audience without having to put much time and effort into it. It can also drive traffic to your website and reach a highly targeted audience as an added benefit.
Running tests to see which AdWords strategy yields the most ROI is the best way to leverage AdWords. As a result, you’ll determine what type of ads appeal to your target audience the most. Rightly done, lead generation can become one of the most important aspects of your SaaS business.
The two platforms with the most engagement among B2B marketers are LinkedIn and Twitter. By simply searching with the right keywords, you can contact people who are looking for your SaaS product/platform and have questions about it. Inbound sales from social media can be greatly increased by being proactive with customers and reaching out directly to them.
As marketing trends change, testimonials remain a valuable marketing strategy that hasn’t changed. You show your audience what makes your business unique and different by including customer testimonials on the landing page of your website.
You can gain the trust and security of your target audience by sharing positive reviews of your existing or former customers. This practice will also boost revenue growth and the lead generation process.
Now that you know many ways to maximize lead generation and business growth using SaaS marketing, you have a lot of ideas to try out. Whatever industry or audience you’re targeting, these strategies can serve as a foundation for a successful lead generation strategy for 2022.
Experiment, blend, and mix all the strategies, and identify what is making your SaaS business more profitable so you can place more emphasis on that method.
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