Software as a Service (SaaS) continues to grow in popularity as a software solution for companies worldwide. This kind of software streamlines business processes, simplifies communication methods, and allows easy payments. SaaS providers can create products for other businesses (B2B) or market consumers (B2C).
B2B service providers promote software and automated technology for other businesses. As the SaaS market increases in popularity, B2B service providers need to create innovative marketing strategies to set themselves apart from competitors. Effective B2B SaaS marketing relies on a thorough marketing plan to attract and retain clients.
Read on for a business-to-business SaaS marketing roadmap.
The SaaS market is growing rapidly, with an estimated worth of over $200 billion by 2023. In response, many SaaS companies are enhancing or replacing their marketing strategies. Organizations need a plan that meets consumer demands and sticks out among the many competitors in the field.
A B2B SaaS marketing plan must address other company needs. To attract and retain clients, you need to develop an innovative plan that appeals to business interests and sales patterns. The business will use the software and applications to improve company efficiency rather than for personal use.
If you want to upgrade a current marketing strategy or are wondering how to market B2B SaaS, here are some steps for creating a SaaS B2B marketing strategy.
First, it's important to identify your ideal customer base before developing a plan. Understanding your customers' mindset can help you meet their needs more directly. Due to the growth of SaaS, companies of all industries are now seeking services.
There's usually no one-size-fits-all solution for SaaS, so B2B providers often find more success by marketing toward more specific buyer personas. In other words, instead of trying to appeal to every industry at once, try to focus on smaller segments. That way, you can use a more personalized approach.
A business's buyer journey starts with identifying an issue. Then, they seek solutions that will solve this problem. For example, a marketing company might realize they aren't generating enough leads, and then seek a software solution that can help. You should look for an industry that suits your software capabilities.
When considering your B2B SaaS buyer personas, ask yourself these questions:
For example, you might decide to focus on promoting your SaaS only to retail companies. The retail industry might face issues with inventory management. You could promote specific aspects of your software that would assist with inventory, such as a system that could help with communication between supply chain vendors.
Once you have an industry in mind, you should start developing content that appeals to them. Content marketing allows you to reach a broad audience of potential customers. When you publish trustworthy and helpful media content, you can establish yourself as a trusted brand among your competitors. Then, you could see an increase in potential leads and conversion rates.
Digital marketing media methods could include:
You can publish this content on your website or social media platforms for SaaS B2B marketing. Center your media around your ideal customer's interests. For instance, many B2B companies use customer success stories on their web pages to build credibility.
Another idea is to list organizations that have used your SaaS platform. Businesses seek a software solution that works, so reading other experiences helps them convert to your product. You could also create long-form articles or blog posts about your SaaS platform to spread the word. Publishing high-quality articles show potential buyers you're trustworthy and knowledgeable.
It's often best to choose one or two types of digital media for B2B SaaS content marketing. You can focus more on specific efforts and allocate your budget to these instead of keeping up with too many methods. If you find the media isn't generating any leads, you can always adapt them to meet your goals.
Next, remember to place a clear call to action (CTA) on your website and social media channels. These remind customers of the necessary next steps and how to continue with your SaaS if they're interested. The best CTAs give customers a straightforward task to complete, such as:
Many SaaS companies use free trials to give customers an idea of their platforms. Once the customer gets a firsthand experience of the product, they're more likely to continue with it.
Making these tasks accessible and simple allows customers to get started easily. Try to feature a CTA and corresponding link on all relevant pages, so potential buyers have many opportunities. You can also add “deadlines” to your CTAs to make them seem more urgent and get more customers to sign up. For instance, you could say your free trial offer period is only a few weeks, so customers should sign up soon.
CTAs also allow you to access customer information like email or phone numbers. You can follow up with them after their initial requests and create more conversions.
This part involves the series of steps between a product trial and a complete customer commitment. Whether you offer a free or paid trial, you need to communicate with customers afterward. The right approach can convert potential leads into committed customers.
If you use free or low-priced trials, send customers regular reminders about moving forward with a paid subscription. Send emails and other messages with consistent updates. If you notice low conversion rates, you could offer reduced rates for another brief period. In addition, give clients opportunities to provide feedback on the services so far. You can use the feedback to adapt your plans.
During the trial period, communication is key. Follow up with customers and encourage them to ask questions about the platform. Presenting yourself as a trustworthy and dedicated service provider can lead to higher conversion rates.
After optimizing your digital content, customer tasks, and conversion process, it's time to measure results for your SaaS B2B plan. If your goal is to expand your customer base, you need to find a strategy that converts customers often. To create this plan, you need to monitor your results regularly and adapt as needed.
SaaS companies encounter a wide range of metrics daily. Choose simple metrics, such as the number of SaaS sign-ups for your free trial. A simple number lets you regularly check on your performance without additional analysis or calculations. That way, you can adapt your plan more quickly.
Once you select your metrics, monitor them for a set time. This could be anywhere from two weeks to an entire business quarter. It's often helpful to organize your results into graphs or charts. You can share your data with other officials and discuss areas for improvement.
The last step in creating a B2B SaaS strategy is adjusting your plan. You can use performance results to identify weak areas in your strategy. You and your team can analyze what went well and what you should improve in the coming months. Then, adapt your plan as needed.
For example, you might notice a steady decline in free trials to paid subscription conversions. A decrease in interest shows that customers aren't satisfied enough with your SaaS to upgrade their subscriptions. You and your teammates should adjust your plan with a target of increasing subscriptions.
To craft the new plan, you could use customer feedback and implement new strategies. For instance, you could increase the trial period or offer reduced rates for considering customers.
As the SaaS field grows, it evolves to meet new customer demands. You should regularly update your plan to meet these needs.
As you build your B2B SaaS marketing strategy, it's important to remember the difference between B2B and B2C marketing techniques. Because your target audience differs, so should your marketing campaigns.
The two types differ by:
B2B SaaS companies should also consider marketing channels to implement their plans. Marketing channels are tools that create connections between companies and potential consumers. B2B SaaS organizations should use marketing channels that appeal to businesses, such as:
You might have trouble attracting new leads for your B2B SaaS platform as you craft your marketing strategy. These are customers who have expressed interest in your services but haven't taken any further steps. It can be challenging to start the lead generation process, especially if you're a newer business.
B2B SaaS companies can use a variety of tactics to draw in new leads, including:
Once you expand your B2B SaaS customer base, retaining them is crucial. B2B SaaS marketing strategies continue after you've gained customers, so they stay engaged and interested in your SaaS platform. Maintaining your customer base is necessary for your company's success.
Here are some ways to ensure existing clients stay:
A thorough and innovative marketing strategy can expand a B2B SaaS company's customer base. Once your company continues to grow, it will become even more important to have clear, organized subscription data. At KPI Sense, we understand the necessity for constant data monitoring and analysis to derive insights from your customer data. Our SaaS data aggregation strategy can transform your data into actionable information.
We help you collect data and optimize it for your current campaign. With our innovative team and process, you can reduce errors and identify crucial trends in the SaaS field. In turn, you can improve your decision-making and widen your customer base.
To get started with KPI Sense, contact us today.