Technology growth offers more comfort for the users. Developing business with technology growth helps you provide a better customer experience and win more opportunities for your business.
SaaS stands for Software as a Service that hosts the software and makes it available to the network. A SaaS company maintains servers that enable the application to be accessed via the internet. Like web browsers, users can access the data from the software using any device (laptop, PC, or mobile). SaaS customers usually pay a subscription fee to access the data from the internet.
The most popular type of SaaS application available are,
- Customer Relationship Management
- Enterprise Resource Planning
- Accounting and Invoicing
- Project Management
- Web hosting and e-commerce
- Human Resources
- Data Management
Read more: SalesBabu CRM
Want to start and grow your SaaS business. Here we discuss 8 cost-effective factors to grow your SaaS business.
- Create A Referral Program
It is one of the important marketing strategies and has significant benefits. The referral program is the word of mouth marketing that offers incentives or gifts for the customer who brings referrals. In order to get more potential referrals from existing customers. You need to give them exceptional services. You need to invite your customers in a standardized way and reward them to refer your brand to other customers.
For example, Dropbox offers storage space in the cloud, grew by 3900% through a simple referral program. The product offered 16GB of free space for inviting their friends and for accepting invitations.
Evernote enables you to take notes, organize files all in the cloud. Evernote announced a referral program with a points system. The first three referral customers will earn 10 points each and can win three months of premium. If customer referral converted into premium then that customer will earn 5 more points.
- Creating A Fundamental Element – Talk Trigger
Creating a fundamental element to spread your brand’s positive word of mouth and generate more customers for your business.
Remarkable: Surprising and delightful services that the company offers the customers want to tell their friends.
Reasonable: Good impact on your product that is worth paying the price.
Repeatable: Enhanced customer experience that creates customers to come again and again.
For example, DoubleTree hotel welcomes their guest with a warm chocolate chip cookie. This impacted a great customer experience and people like this approach and there was talk among people about DoubleTree’s famous chocolate chip cookies. The brand name got established without even spending much money on advertisements.
- Content Marketing
Today’s customer’s buying behavior is non-linear, they want to do a lot of research on the product they purchase. Prospects use Search Engine Optimization to get knowledge on the product they required. When prospects find your content provides better knowledge they will reach you for your product.
Content marketing is the marketing strategy to create educational, attractive content material in the form of text or videos for your target audience. If content marketing is not properly used then it will reduce the consumer traffic towards your content. It is the best way of marketing by sharing the knowledge and content that have great potential to convert readers into clients.
- All-In-One Solutions
Businesses have many functionalities to operate. There is a need for different software to be used. Switching between different apps and the data transfer between the apps is a time-consuming process and could lower productivity. All-in-one CRM is the one software that takes care of your entire business needs. All-in-one CRM is the tightly integrated CRM tool that is cost-effective which can be used for automating marketing, sales, and customer support. All-in-one CRM has an email marketing campaign for engaging generated leads. This CRM software provides all integrations at a single cost.
Read more: Why Having An All-In-One CRM System Matters
- Encourage Free Trials
Before purchasing a product, the customers want to have a feel of that particular product. This is the reason most of the software provides you with the free trial version. You have to pay for the advanced features to become a premium member. This is the best strategy to attract customers with the free trial, customers who had better experience will prefer premium features to enjoy the benefits. This will get more referrals as well.
- Search Engine Optimization
Content marketing is not about just creating content. It needs to get organic traffic in the search engine optimization. Search Engine Optimization works better with keywords. It is important to identify the right keyword such that it boosts the SEO ranking. Better content with a better SEO ranking enables you to get more readers and so the customers.
- Nurture Your Prospects
It is crucial to nurture your prospects. Prospects might often look into your website before contacting you or sign in to your website. They might also look into your competitor’s website for content. It is important to update your website with engaging content, case studies, or videos and with different attractive looks. Recent updates on any of the industry using your products
- Focus On Benefits
You know that your SaaS product is completely developed on recent technology cloud. It’s completely online. But prospects will not worry about that unless you sell it to IT people. They want to know what benefits they will obtain when they adapt to this new technology.
Don’t try to explain the technology and provide a lead reference containing what is cloud and SaaS?. Your marketing messages should enhance the benefits of using this technology and use case of this cloud and SaaS technology.
- Building Marketing Strategy Specifically On SaaS Solution
When the prospects face some issues then the prospect will search for the solution that solves the issue. If your product is the best fit to solve the issue they will find you with their research in your content. Educate them about the benefits of the products. How your product will help them to solve their issue by building appropriate messages about your technology’s capabilities.
Retargeting refers to remarketing. Retarget your prospect in the form of online advertisements. Only 2% of the prospect will get converted in the first visit to your website. The remaining 98% of users are retargeted with these online advertisements. This is a highly beneficial marketing strategy for a beneficial SaaS business.
- Focus On Customer Story Telling
We are by nature like to hear and understand concepts with stories. Case studies will help your prospects to understand more about your products and the use case of your products effectively. The right kind of case studies makes prospects more comfortable and will increase trust towards your brand. This will maximize your ROI with the content strategy that can be used at every stage of the sales funnel.
- Leverage Business Networking Events / Workshops
Business networking events and workshops are the best cost-effective ways to generate more leads for your SaaS business. Connect yourself with the national business events, trade shows, business stalls, and more. It is crucial to collect the email addresses and get subscribers for your newsletters. Manage your contacts to build a strong relationship to grow your business.
Here are 12 SaaS cost-effective pointers to grow your SaaS business. Take these strategies and make slight improvements in your marketing strategies and have a profound impact on your SaaS business success. That means higher revenue to grow your business further. Feel free to request a demo.