The business landscape is changing. More and more SaaS companies are emerging every day, and that means there's a lot of competition for new customers. That's why it's important to have a growth strategy in place before you launch your product or service. In this blog post, we'll discuss some SaaS growth strategies that'll help your company grow.
1. Create a subscriber email list
Email marketing is a powerful strategy that can help nurture leads. According to a B2B marketing research from the content marketing institute, 87% of marketers use email to educate customers with their content.
AppSumo used their deep knowledge of marketing and experience with email lists to grow theirs from 700,000 addresses to over 6 million<Case=">Case" Study="Study" by="by" Nerdy="Nerdy" Joe="Joe</a>"> . This gave them the power to leverage a large audience while building out new features like App Sumo's full-service suite for online stores.
2.Implement referral programs that reward current customers
Running a referral program for your SaaS can help in faster conversions. It also promotes brand awareness and reduces the costs of acquiring new customers. With a referral program, customers who are already using the product can encourage friends and family to join them. They get rewarded with points/credits for referring other people to use the same service they use themselves.
Drew Houston, the Founder, and CEO of Dropbox, said that referrals increased Dropbox signups by 60%. Simply because the platform offered a bulk of extra storage space to a customer whose friends onboarded Dropbox.
3. Create a content marketing strategy
Content marketing generates more leads and is also cost-effective. It helps you generate engagement, leads, and brand awareness with minimal spending. Thus, creating a steady stream of quality written or video-based material so that you can command authority within your niche and build trust between your brand and customer base. The ability for customers/audience members to engage more easily will naturally increase conversion rates which lead to increased revenue streams.
One of the best examples is that of Buffer. The platform created a variety of content - long posts, charts, graphs, etc. and is a million-dollar SaaS company today.
4. Giveaway free goodies
Giving away something for free builds trust in your company and products because it creates the sense that you're not trying to just sell. This also helps you gather valuable feedback from customers on what is most useful and why they prefer your solution. You'll want to keep track of which giveaway has gained most traction, so you know where to invest more resources next time.
Read More: 5 SaaS Pricing Models for a Balanced Revenue
5. Offer exclusivity
SaaS companies who want to grow their customer base need to be first in mind with exclusivity. This means instituting a waitlist or limiting the number of customers who can sign up. Thus, making sure that your company is top-of-mind.
Offering exclusivity will also require entering partnerships with other companies and sharing information about new features, which may be difficult for some smaller SaaS businesses. However, not only does it show an understanding of customer needs, but it also helps generate referrals if another user shares their experience with the product. If you have little budget left for marketing efforts — offer exclusivity. The most important thing - do something different from everyone else and go first in mind as soon as possible.
6. Try first before you buy a strategy
If you are an entrepreneur looking to enter the world of software, it is important that your product can offer something unique. With so many entrepreneurs bringing their ideas into the market, there's a lot more competition for people's attention and wallets. To get these consumers on board ensure they know what value they'll get out of your product beforehand by listing features or talking about how much time will be saved after making use of them in interviews or reviews online.
Rafflecopter is one such software that enables users to test-drive its website. The best part? Users don't need to sign up to use what they offer.
7. Optimize your website
The internet is a vast space, so it's not surprising when people feel lost and can't find what they're looking for. A good product marketing strategy should be complemented with a well-optimized website. An optimized site will offer an excellent user experience and reduce bounce rates, which means that customers who are satisfied with their visit to the page may return again in the future.
One of the most effective ways to optimize your website and increase conversions is by having a live chat platform that lets you meet their expectations as soon as possible! This way, no one will be left waiting any longer than necessary; all queries are taken care of immediately. A call-to-action button on your sites, such as an email newsletter signup form or social media share links, also helps in optimizing traffic flow since visitors know exactly how to contact you afterward if needed.
8. Advertise on social media
Social media advertising will get your company the exposure it needs to grow. You can take advantage of influencers by using them as part of a promotion or contest and gather customer feedback for even more visibility. To make sure you see results from this type of ad campaign, be sure to set up the retargeting strategy so that when people visit other websites after clicking on an advertisement, they see ads related specifically to what their interests were at the time they first discovered your brand online.
Furthermore, LinkedIn ads have been beneficial for both b2b and consumer-oriented marketing campaigns. Inmail advertisements are particularly useful because they appear as messages, making them less intrusive than most forms of advertising on the site. LinkedIn's advanced search function also provides a way to find people interested in your product or service through its powerful targeting system.
9. Leverage paid ads
Businesses can engage with customers and potential customers by using organic content, paid media, or a mix of both. This ensures they're getting the best return on their marketing investment. Organic has an advantage because it's seen as more trustworthy than other forms of advertising; however, this doesn't mean you should discount paid ads altogether.
The success of a sponsored ad campaign is based on several factors:
Choosing the right keywords (long-tail words are better)
Quality/ad relevance
Keeping your costs low in order to get higher ROI out of every dollar spent.
10. Use infographics uniquely
Infographics are a simple way to share your brand story and information. We can also use them as powerful marketing tools by linking them with blog posts or landing pages. One potential downside is that they do not change content actively like blogs might; however, infographics provide a fresh perspective and may find favor with bloggers for this reason alone!
Infographic design gives readers the opportunity to digest large amounts of data in one smooth swallow. It's easier on their eyes than reading long paragraphs of text on complex subjects (such as investment strategies). Infographics allow you to tell stories quickly without overwhelming people who don't have time to read through lengthy content.
The Bottom Line
As you can see, there are plenty of ways to grow your SaaS business. You don't even need a huge budget to do so. By implementing the ideas we mentioned above, you can stay ahead in 2022 and beyond. The idea is not only to connect with customers but to understand their needs and give them reasons to buy from you. After all, focusing on customers retention is one of the best ROI driven strategies for success.
What other methods have helped your company grow? Let us know in the comments below! We would love to hear what's working well for you!