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Marketing for Software as a Service

Software as a Service – also known as cloud service, has become mainstream in a majority of companies for a couple of years now, for good reason, too. Applications offered directly to clients on web browsers online are much easier to create, maintain, and organize.

Software as a Service is so common now that approximately 60% of companies opt for the same. The emergence of SaaS has led to the ubiquity of subscription-based services across the globe, resulting in a decline in sales of over-the-counter products and services in brick-and-mortar stores.

SaaS offers abundant scope for profits and, if adopted at the right time and in the right manner, it can lead to a revolution in how businesses operate, serve clients and also the way a client perceives a business

What is SaaS Marketing?

Hotstar, Ipsy, Netflix, Amazon Prime, Trunk Club – what do they all have in common? All of them are or provide subscription-based services. Companies that provide such services have realized the potential revenue it can generate, and are investing in popularizing the same. Marketing for Software as a Service involves marketing only those services that are subscription-based.

It can be quite a tedious task as your market has no physical presence. SaaS is constantly evolving with updates and modifications, Customer onboarding can be quite complicated with SaaS since customers can never get an exact idea of what you offer.

Benefits of SaaS Marketing

Creating Brand Value and Awareness

There are over 8000 SaaS solutions as of early 2020, and it becomes awfully hard for your service to stay find a firm footing and stay relevant among the masses. Marketing your offerings doesn’t only put your company on the map but is also crucial in earning recognition and feedback from customers.

Given the high competition in every niche, it is pertinent to market your offerings lest similar services gain more popularity from other companies. This is because the chances that a customer will abandon a brand to shift loyalty to a company offering something similar are very few.

Generating Leads

As explained earlier, client retention is the key target of SaaS. Given the quick pace of SaaS advancement and improvement, it is essential to have a lead generation mechanism that targets retaining existing customers.

High-quality content forms the backbone of a balanced lead generation campaign and companies need to identify the right people, resources, and solutions to be put in place.

Customer Retention Through Marketing

Around 80% of the customers in a SaaS-based infrastructure return at the end of a cycle. Through personalized marketing and good relationship-building processes with the customers, it is paramount to ascertain the needs of a client and evolve to adapt to them.

When you effectively market these needs, you show existing customers that you care, and that can result in potentially high gains in terms of clientele and revenue.

Biggest Problems in Marketing SaaS

Getting off the Ground

The biggest problem with marketing SaaS is that assuring customers that you offer quality takes time because these services are periodic such as monthly or weekly subscriptions. Putting yourself on the map can be most easy with quality content and planning.

Over time, companies must include blogging, customer testimonials and other strategies to reach a level where they have a significantly big customer base. Even then, they must continue working on improving their offerings and work on generating new customer leads.

Focus on ‘What’, not ‘How’

Your marketing should focus on the services you offer. Often marketing strategies revolve around showing the amazing features of their platform or software when in reality, customers are lured by the services they offer.

As an example, consider Netflix ads on TVs and other platforms. Netflix very clearly shows the series and movies they have on offer, not their app dashboard, or their user-friendly website. The focus must always be on what the customer is spending money for, not on things that can make his journey easy – easy journeys give customers a reason to come back, but only if you offer quality services.

Satisfy Existing Customers

We reiterate, 80% of your customers may return if you offer quality services. Many of these customers give feedback and expect certain changes in the UI. These are also those customers about which you should have enough data over time so as to offer them personalized ads, and content along with services based on their behavior and interests.

This ensures you have a returning base of customers which in return generates good revenue and a positive brand image. The best message companies can give their customers, after all, is ‘we care’.

Imbalanced CoCA

CoCA stands for the Cost of Customer Acquisition. As a business, it is absolutely essential to understand and plan your finances. Being naïve and spending a large sum of money on sales and marketing for customers is what drives companies into the ground.

It is imperative to keep in mind that good marketing strategies that are content-driven may take time to work, but effective lead generation strategies will result in a better return of investment over a long period of time.

Final Word

Thus, we see that marketing SaaS may be complex but is absolutely crucial in keeping with the times. As more and more companies offer online web-based services, the right kind of marketing plans can go a long way in ensuring success. For best plans on how to market SaaS and more assistance regarding this, we highly recommend going through this SaaS-marketing-plan.

Originally posted 2020-05-18 21:10:38. Republished by Blog Post Promoter

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