How SaaS Marketing is Different from Every Other Type of Marketing
February 13th, 2018
Marketing your business is challenging. And things get rougher when you have to market something that has no physical presence and a goofy name, reason for which will be unknown to an average man.
Think of this way, you want to target only business owners or decision makers for your SaaS product. How do you track them down and convince them into purchasing your service?
Since everything is changing constantly, marketing services have become much more difficult for B2B businesses.
We believe, SAAS marketing gets challenging from any other type of marketing we are aware of.
Here are few reasons that explain how SAAS marketing is a bit different from any other type of marketing known to the world.
Giving away free stuff is actually a good thing.
Giving products for free is not feasible when you are a physical merchandise.
But then you’re marketing your SaaS product, this is what you should do!
Your customers will never know how much they need your product until and unless they use it. But the key word here is free. You need to give a free trial, free trial with credit card info or a freemium model for SaaS customer onboarding.
Here’s how the landing page of the SaaS- Visual Website Optimizer looks like:
Another example for landing page has to be SproutSocial that offers social media marketing services.
Giving away free stuff isn’t just a great way to promote your business but is also an essential step in SAAS marketing.
The sales cycle is remarkably short.
When businesses deal with other businesses, their estimated sales cycle lasts up to 12 months.
For marketing your SaaS customer, this is really a long period. SaaS sales are rapid and customers are not lured into the product by organizing events, contract negotiations or PR campaigns.
They might hear about the product with the word-of-mouth or do some research online. However, once they discover you, they will just use the freemium version, watch the demo and buy. Sales are quick as these decisions can be made within few hours or maximum few days.
So what exactly customers look in for before buying?
One thing that really matters is the software itself. It has to be dynamic and suitable in the environment the user brings it into.
Another thing that matters is the low price and low complexity of the SaaS. All these factors make the decision-making easy for the customer.
However, the strategy isn’t much effective on buyers who take time into making such investments. But, make sure you add enough information and reassurance for them to acknowledge.
If still, you lose few sales just because the buyer isn’t ready, don’t overthink on changing your strategy. You will soon find plenty of buyers who are willing to make a decision in minutes and seconds.
Your greatest asset is your information.
A major customer force while marketing SaaS comes from the information you have.
Now, rethink your favourite sources of information.
Which blogs do you read when you are searching for some valuable information? In our personal experience, we see that information comes from companies that sell SaaS.
If we take Hubspot for an example, the plethora of information is actually provided to market their own inbound marketing software.
And same goes for Buffer. The world-class blogs posted by Buffer are actually those that give out a lot of information about their social media service.
Yes, they want you to read their blog. But more importantly, they want you to try their product.
If you are marketing a SaaS product, you have a ton of information on your plate. Make sure you invest in your content marketing strategies and get the customers involved with your information.
It’s not a product, It’s a service
The acronym SaaS stands for “Software as a Service.” Place the emphasis on the service. Yes, the software must be important, flawless, powerful, and awesome. But service needs to be upheld as the paragon of your asset.
Lincoln Murphy nailed it when he wrote, “When creating your SaaS marketing plan, you must understand that your business model of choice is a fully-integrated architecture where all aspects of the business — product, support, revenue model, and marketing — are tightly-coupled.”
Once you figure out that you are not selling a product, but selling a service, things start getting into place.
Your main motive is to make your SaaS software capable to sell itself. Apparently, customer retention, acquisition cost, MMR, CLTV, CLV, churn, multi-touch attribution analysis, linear attribution models, statistical algorithm implementation for attribution distribution credit via continual adjustment, everything takes care once you develop an awesome support system and use killer customer service as your strategy.
You’ll probably remain skeptical until you actually discover this for yourself. Make that insanely awesome software and deliver home-run style customer service.
After all that, just watch your life get better!