Growth and profitability are key pillars that define a company’s success or failure. However, organizations, irrespective of the sector they operate in, struggle with growth! And this is even more difficult when it comes to companies that offer SaaS products. One of the main reasons for this is that the market is already flooded with competitors, many of whom compete for customers’ already limited attention in both B2B and B2C environments.
To grow and succeed in such a dense market, it is important for SaaS companies/product owners to come up with an effective growth marketing framework – with 100% effective growth marketing strategies.
In this write-up, we have discussed the top 5 growth marketing strategies for SaaS products.
Top 5 Growth Marketing Strategies for SaaS Products
#1 Growth Marketing Strategy – Use content to demonstrate authority
Content Marketing – one of the most important strategies of growth marketing – helps you establish authority in the industry. People who have worked in the SaaS industry would understand the effectiveness of content marketing. The ultimate goal here is to attract, engage, and convert website visitors into prospective customers.
However, content marketing is not as simple as it sounds. Many SaaS firms struggle with content creation and curation. They are stuck with a number of questions such as – What kind of material would your target audience be interested in? Is the tone of the article appropriate? What platforms should the content be shared on? Etc.
At the same time, there are some great examples to follow suit. Take Hubspot for instance. They have aced the content marketing strategy and become the number one place for all marketing-related information. From educational content to DIY courses, Hubspot has carved its niche with content marketing.
Best practices for content marketing
Gather contact details through lead magnets – Using enticing content to collect email IDs and other contact information is a good method for SaaS organizations to use. HubSpot offers exclusive content in form of ebooks, webinars, etc, in exchange for contact information.
Creating relevant, high-quality, persona-driven content — To be competitive in the SaaS sector, you must offer high-quality, persona-driven, relevant material that appeals to the target audience.
Draw parallels with competitors – It is a clever idea to offer your SaaS product as a high-impact alternative to a competitor’s product.
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#2 Growth Marketing Strategy – Entice with code marketing
Code marketing is a marketing strategy where companies give a free trial of their digital product. This is a terrific method to add value to your content and persuade customers to believe in your product or service and eventually invest.
One of the best examples of doing code marketing right is the example of Slack. The company offered its services as trial versions so the target audiences can use and get familiar, before purchasing the product.
Best practices for code marketing
- Utilize actionable content marketing – As previously stated, content marketing is an important growth strategy for SaaS companies, and organizations may use it to boost their code marketing approach. There are some steps you can do to help clients imagine how your product will feel. Include statistics on how your solution will solve problems for your clients in a given industry, for example. Video material that encourages people to interact with your product is also a good idea.
- Make in-depth case studies — Obtain permission from existing clients and post their stories, and results after using your service. This provides social proof of your brand to future customers. You can also invite your consumers to write product/service testimonials for you.
- Find free trial alternatives — Offer free workshops or consulting services to potential clients so they may get a sense of what it’s like to be your client.
#3 Growth Marketing Strategy – Use the power of email marketing
What do you think of delivering value straight to your customers’ inboxes? Sounds great… doesn’t it?
Email marketing is a fantastic strategy to expand a SaaS company. With 3.9 billion daily email users, email is an important way to retain customers believing in the value of your product. Email is something you don’t want to overlook, 81% of B2B marketers use it for their content marketing campaigns. Why not? It drives user engagement, boosts conversions, and improves customer retention.
Kissmetrics uses emails the best. Through its emails, the platform offers insights into its customer’s behavior tools to boost conversions, engagement, and retention.
Best practices for email marketing
- Determine your goal – Decide on the intention of your emails and what they would be offering. When it comes to the stuff you’re delivering, be clear and unambiguous.
- Focus on design and structure — A top tip for effective email marketing is to use a distinct style that draws attention to CTAs.
- Create email content in categories based on user buying patterns, and you’ll have a higher chance of providing targeted customers the information they need to convert.
- Fix email frequency – Maintain a proper balance – make sure that you are not sending too many or too few emails. Most marketers send 3-5 emails each week, but it is up to you to determine the frequency based on your customer expectations.
- Use automated tools – Despite well-designed emails, managing email marketing is incredibly difficult if you don’t have the right AI-driven technologies to assist you in your deployment.
- Email list Hygiene- Performing email validation is a basic hygiene factor that must be a first step before sending out any email campaign. Bad leads will not only degrade the quality of your database and leave you with incorrect contacts, but sending emails to such email addresses will result in disastrous email campaign outcomes.
#4 Growth Marketing Strategy – Leverage influencer marketing
Although referral marketing is a terrific method to get your brand noticed, word-of-mouth could be ineffective if your product lacks a viral coefficient. This is where the influencer marketing strategy comes into play.
Because SaaS items aren’t physical, you’ll need to change your marketing strategy; for successful influencer marketing, you’ll need to recruit industry leaders and influencers in your SaaS niche who can verify your product claims.
Canva has nailed influencer marketing by bringing big names like Guy Kawasaki on board.
Best practices for email marketing
- Decide on the core aim of your approach – Whether it’s raising brand awareness, drawing a new audience, or generating leads, have a clear primary goal in mind.
- Find the proper people – Influencers are more than just people with a lot of followers; you will have to look for specialists with good credentials and industry expertise.
- Before you pitch your brand, look at what influencers are endorsing – For SaaS businesses, recommendations from reputable sources are essential. Like Canva, connect with others influencers who have remarkable projects in their portfolios.
#5 Growth Marketing Strategy – Don’t neglect SEO
SEO (Search Engine Optimization) is a strategy that is widely used to boost the quality and volume of traffic to your website, landing page, or blog from search engines.
Considering that 68% of online interactions start with a search engine, SEO is an important marketing approach for increasing your company’s engagement. However, in a world where businesses are vying for their online content to be viewed, it’s not always straightforward.
Startups, in particular, must recognize that this is a process that must be continually implemented and optimized over time. You won’t see immediate improvements, but patience pays off!23
Best practices for SEO
- Use keywords to drive traffic – Make sure you’re targeting keywords that your potential clients are looking for. Selecting the proper keywords will keep your text seeming natural.
- Use backlinks – Backlinks are created whenever another website links to yours, and you can obtain them by collaborating with another company. This is appealing to search engines since it indicates that your site is reliable. Offering to write a guest post for them in trade for a backlink is one strategy to create a partnership with another firm. Make sure your backlinks are from trustworthy sources. One of the best ways to get editorial backlinks is HARO, or Help A Reporter Out. You can find out more about that in this guide.
- Ensure a pleasant user experience – Search engines now give sites with a good user experience a higher ranking. You must ensure that your website is mobile-friendly, loads quickly, and is simple to navigate.
Wrapping it up
Having a proper growth marketing framework with the right strategies is key for SaaS companies, especially because the market’s already saturated. Take cues from the strategies that we have discussed above. Implementing the strategies is critical to the success of your SaaS business. Along with implementation, also emphasize constantly evaluating the effectiveness of each plan and making changes as needed.
Shivani is a talented CS manager with the skillsets to elicit, scope and manage end-to-end B2B SaaS project delivery. She has a keen interest in depicting her learnings in customer success by writing resourceful blogs and articles.
Published March 02, 2022, Updated March 01, 2023