Marketing is a lot more than a word consisting of nine alphabets; it covers several concepts and fields. Content marketing, Email-marketing, Social media marketing, to name a few. SaaS marketing is one such term associated with marketing. However, what is it all about, and how is it different from other forms of marketing?
What is SaaS Marketing?
Software as a service marketing also known as SaaS marketing is a very unique and exemplary type of marketing in which one creates awareness about a definite type of software. It acts as an impetus due to which a software’s progress in the market is accelerated.
Not only that but, it creates an influence of the software in the eyes of the audience. They create the much-needed image of the software. It is this image that is sold to the customers. This is the reason behind the increasing popularity of SaaS marketing organizations.
SaaS organizations help in creating definite marketing strategies for a particular software. These strategies are directly linked to the popularity of the software. With the help of proper marketing techniques, one can launch software comfortably. It is very important to know about the basic concepts related to SaaS companies.
This article will act as a guide to SaaS marketing. SaaS marketing is very different from any other type of marketing. There are very crucial aspects that one needs to understand properly if they wish to learn properly about SaaS marketing.
What makes SaaS marketing different?
As marketing has different forms, what makes SaaS marketing different from other forms?
The basic difference between SaaS Marketing and other forms of marketing is that it is related to promoting software, which does not include any physical form of product or service. It can comprise a marketing service, not a product. The characteristic that makes it different from other forms is putting it into action. SaaS marketing oversees execution, installation, and migrating from already existing platforms. Adding to it, the software users often expect the after-sales services because they pay every month.
The support offered can be implied as a selling point, which can be upgraded to another version. SaaS Marketers have to mark it as important as it can take efforts a step forward.
Several products and services are about one-time consumption. However, the purpose of SaaS marketing is to build a long-term relationship with its users. In simple terms, SaaS companies aim to reach and retain their customers for a longer run. After making any potential audience as customers, these companies take responsibility to keep in touch consistently and ensure that they do not churn. Unlike traditional marketing, it is not at all related to one and done concept. The software as a service focuses on keeping up on a longer-term. Owing to this reason, many SaaS companies extend a giveaway or freemium model for their products.
As the term sales cycle refers to selling a product, the sales cycle in SaaS marketing can be another feature to understand its difference from others. SaaS companies have shorter sales cycles, and this is because the pricing models designed for SaaS are divided into monthly shares, which make it look more than affordable to its users. It uplifts the buying decision of the buyers without having to look for any other formalities. The need for consulting higher management does not exist as it can increase capital expenses.
Intricate Customer Journey
As the term describes itself, customer journey in marketing refers to the time it takes for users to first encounter a brand to the time they are your customer officially. The customer journey in SaaS is not the same as compared to other products or services. It can be anywhere from six months to eighteen to seal a SaaS deal. This is because SaaS marketing can need you to create and market your products at different levels of awareness.
For instance, it is about promoting a tool used in SEO. First of all, does your audience know about SEO yet? On the other hand, you might also have potential customers who know about your tool and several others in the market. Your target audience can consist of all kinds of people, which gives rise to the creation of the content at different levels on the basis of what they need to know.
Run Through the Fundamentals of SaaS Marketing:
- Goal Setting: This is one of the most important concepts of SaaS marketing. The organizations work with a lot of dedication and determination to deduce the goals which it has to achieve. These goals are directly connected to revenue generation. The SaaS marketing agencies start setting definitely achievable targets for themselves.
Then, they start working upon every single point that will help in setting those definite objectives. The SaaS marketing enterprises also help in comparing any software company to its competitors. These companies help in analyzing the flaws of any software company and start employing resources to fix these flaws and achieve the targets set for the company.
- Deducing the budget: The SaaS marketing companies also help in determining the budget for a software company to achieve the targets set. This is a very crucial advantage of a SaaS marketing company.
- Promotion of Content: The respective SaaS marketing companies employ all the genuine ways of promoting the name of the software companies. They do this through the various social media platforms available. These social media platforms create a good image of a software company in the eyes of the general public. It is crucial to acknowledge the power of social media.
Social Media can create an amazing image of any enterprise for the general public. These aspects make social media a genuine promoter of software companies. Software companies are able to achieve their targets with the assistance of social media platforms. They not only spread awareness about the software but also inform the public about important aspects such as location, demographics, connections, and other such important aspects.
- They identify the need of the customers: SaaS marketing companies research upon the likes and dislikes of the audience to decide whether their software company will prove to be a success or not. If some points are missing that may prove to be a turning point, then the SaaS marketing companies inform the authorities of the software companies.
The SaaS marketing enterprises make sure that almost all the needs of the customers are fulfilled by the software. This helps them in presenting the software as a one-time solution to all problems before the public.
- Help in building a community: The SaaS marketing enterprises help in building a proper community. The SaaS enterprises build a team that effectively deals with the clients. This team plays a vital role in spreading awareness about the software. The team built helps in building the reputation of company. This reputation is very important for a software company to succeed.
- Managing the established community: Building a community is very easy. The main factor that counts is managing the built community and optimizing it to gain the maximum possible results. It is very necessary to build important connections to build a strong image of the company. The proper optimization of a SaaS company helps in accelerating the rate of investment by a considerable factor. This proves the significance of SaaS marketing.
- Personalized tools for effective marketing: SaaS marketing uses the most efficient tools available to enhance the image of a software company. These effective tools have proved to be very beneficial for a software company.
- Information is the priority: SaaS marketing enterprises contain a lot of information. This information can be utilized extensively to improve the quality of the software.
- Giving free trials to customers: The SaaS marketing agencies provide free trials to the customers to spread awareness about the features of the software. This is an excellent marketing technique.
- Accessibility: SaaS marketing companies increase the accessibility of the product. This enhances the software’s popularity.
Building an effective SaaS Marketing Strategy
When the word marketing is added to a term, no justification for availing benefits is ever needed. It can make it easy to draw the bottom line that SaaS marketing paves the way for software companies to earn their share in the market.
However, something more important to put attention to is forming the right strategy for SaaS Marketing. When it is about framing an effective strategy, you need to take care of many steps. The list of the same includes:
Provide the Information
The importance of content is not unknown to anyone. In SaaS marketing also, you need to draw the attention of your target group. Marketing for software as a service depends on the information. Before short-listing your services, it is understandable that they will scroll many others of the same kind. In the process of marketing, you have to make sure that what you give them are the reasons to trust your brand. Also, like explained earlier, your target group can comprise all kinds of audiences. It means that while preparing content, you need to keep audiences of all stages in mind.
Free Trial Periods
There is no denying the fact that the term free can captivate anyone. It is what you have to avail of while marketing for SaaS. Offering trial periods without any cost is an effective way to introduce sales and new customers. There can be different models to present the free model, and the list for the same can include the trial period for 30-days, freemium model, trial with credit card details, trial without credit card details. You can share the free periods till you discover a strategy to monetise people to use your product.
Digital presence is an asset for any brand, and the same rule goes for SaaS marketing also. You have to get your brand into the sight of the buyers. It is essential to build your market and a relationship with your potential customers. Apart from these benefits, you can also attract visitors with valuable content, which showcases your knowledge and expertise.
You need to optimise the website to get more conversions. You can make the best use of call to action texts. It can include starting the trial, subscribing to the blog, and subscribing to the newsletter.
Get SaaS for Promotion
As complicated as the term SaaS marketing seems, it is not. You have to think about the possible aspects of reaching the bottom line, including cost per lead, acquisition cost for each customer, and so on. However, there are several other things you have to take into consideration. The list for the same includes having service to offer, round the clock customer service, and engaging content that resolves the need for customer support only. After having them at the place, service, and software, marketing about software as a service will be easier.
Stages of SaaS Marketing
Most businesses apply a five-stage strategy for SaaS marketing. It can include awareness, consideration, decision, retention, and advocacy. Here is an in-depth description of the same:
Awareness: This is the initial stage needing you to work on promotions, campaigns, and other forms of channels through which the audience can be made aware of the concerned SaaS product.
Consideration: In this step of marketing, you have to provide information to the coming traffic. This can help them stay persistent and avail of other services also. It is more like catching their attention and engaging the traffic in the SaaS product, which is developed recently.
Decision: This is the most crucial part of the SaaS marketing panel where the coming audience has to decide to proceed further with the SaaS product or not. If the awareness and consideration are successfully done, a marketer can generate higher leads in the decision stage of the sales funnel.
Retention: There is no point in marketing unless you can retain the customers. To ensure that the business can retain the sales, you can offer additional benefits, new offers, and other services which will keep them engaged in your business.
Advocacy: This is the final stage where the users/customers will recommend the SaaS service or product to others. This is like the end step or report card of all the marketing efforts made till now.
The world is turning into a digitally inclined place, which means that software as a service is nothing new for you to introduce. For any service you bring, chances are that it can have an already existing competition or a market to make space for yourself. If you have introduced a new concept, your focus should be around making the target audience aware of it and making a way for them to connect to you. That is where the need for SaaS marketing emerges.
As the term tells itself, SaaS marketing is about employing efforts to promote a non-tangible service, which is software. Big SaaS marketing firms easily outperform their predicted ambition. This is the reason why top software companies want these digital marketing firms to be a part of their business. SaaS marketing has seen a considerable evolution over the years. It has become an essential component of all software industries.
Currently serving as the Managing Director of SEO Discovery, Mandeep Singh is an ardent reader, learner, and writer. He embarked on a career in Digital Marketing decades ago. Since then, he has been providing solutions to many businesses. He also takes time to keep readers posted with what he learned while building his years of experience. That’s so because he believes in the concept of sharing his expertise.