Internet-enabled software-type computer programs have arguably become the “steel” of the current industrial revolution. Just like the steel industry transformed global life, so too does SaaS transform 21st-century life. Need not look farther than today’s tech people who had nothing decades and who are now millionaires and billionaires.
If you’re reading this, you probably know what SaaS stands for (software as a service). Why is a good marketing plan for your SaaS business crucial for success? With a marketing plan, you see how your vision fits in with your colleagues’ visions in your market sector. In other words, marketing plans are visionary because they have positive end goals.
Because SaaS businesses provide subscription-based products, customers can stay or go. Therefore, your SaaS business must compete with other visions that are also ongoing. With a successful SaaS marketing plan, you get to compete with the other visions in your market space.
Two Types of SaaS Products
The scale and scope of your SaaS offering, as well as who you want to sell to play vital roles in how you develop SaaS marketing plans. SaaS companies have monthly subscription prices that range from a few dollars a month all the way up to several thousands of dollars.
The first type is business to consumer (B2C). In B2C the consumer is anyone, even small to medium-sized businesses. Many eCommerce-focused services operate under a SaaS model but offer consumer-facing products that automate things like website creation. These services help small businesses sell things online. However, how is the marketing side of SaaS products?
The second type of SaaS product is business to business (B2B). Those companies that focus on B2B business tend to offer products that usual consumers do not need or cannot afford. For example, the typical homeowner doesn’t need an enterprise software suite that will run a business.
Big Price Products Can Take Longer to Sell
While SaaS marketing plans for many products will be similar, there are differences that give marketers insights into how to develop successful marketing plans for any SaaS-type product. The two most notable differences are the length of the sales cycle and the cost of the product. Big price things take longer to sell because the entity buying them has financial stakeholder investment.
Components of a Successful SaaS Marketing Plan
For B2C and B2B SaaS Marketing, the goals are the same, they just take longer in the B2B SaaS market. Consequently, you need a marketing plan that fits the product’s price point.
Lead nurturing is a crucial component of any marketing plan, after all, customers have equal paydays. There might be a tendency to focus more on lead generation because of higher price point payouts. The number of leads a company has isn’t as important as the quality of leads it nurtures. Lead nurturing is spending time and effort with potential customers you think will one day buy the product.
One of the most important aspects of lead nurturing is how it builds relationships with people, not just potential customers but also those that don’t buy anything. These leads may end up referring to other leads just by word of mouth about your honesty and integrity. These no purchase leads remain part of the contact list that just may respond to a behavioral email in the future.
The Free Trial
Those who run SaaS businesses have a veritable ace in the hole—the free trial. Free is always good. However, with a free trial, there are no return or restocking fees. While offering a free trial doesn’t give you money, it gives you other assets you might tend to overlook in other marketing strategies. Free trials have these benefits:
- Customers get something for free
- You get your brand out into the public domain
- Your company gets to collect valuable contact information.
- If managed strategically, free trials generate leads based on the contact information from free trial users.
Use Multiple Marketing Channels
Because the free trial is such an important part of any SaaS marketing plan, it should contain numerous instances that point back to the free trial as a way of getting new leads. More to the point, the SaaS marketing plan should have different channels that add to and promote lead nurturing and contact management.
Two online marketing channels SaaS businesses should consider are email marketing and social media. Each has its own types of leads and its own way of nurturing them. The SaaS marketing plan should contain ways to manage and maintain both channels. There are other channels. Hiring an agency like Web Rocket Media who specializes in SaaS businesses is the best way to get your SaaS brand out there.
Build on Your Vision
Much of the eCommerce world revolves around selling products consumers get in the mail. Although building and maintaining nurturing relationships with customers is important for all merchants, SaaS merchants must take extra time to maintain these relationships. Thus, build into the SaaS marketing plan things like “free software upgrades” and “free extra subscription time.”
Building on your vision shows your leads and contacts you are constantly improving. Build into the SaaS marketing plan ways to cross-sell and upsell, two things that can enrich your users’ lives while also providing you with income. Never forget that you want to always tell your leads and existing customers how they cannot live without your products.
Metrics, Metrics, more Metrics
Your SaaS marketing plan needs numerous places and ways where evaluation takes place. Fortunately, there are many ways SaaS businesses can do this. Web Rocket Media has professional web marketers that understand marketing metrics and how to adjust marketing plans for improvement.
If you need a SaaS marketing plan, contact Web Rocket Media today. The online marketing experts at Web Rocket Media know the ins and outs of SaaS marketing. They will work with you to help your market your SaaS products.