Tag: SaaS business model

5 SaaS Marketing Strategies That Will Give You Result

Posted on by Ankit Thakor

SaaS marketing is a new age marketing where intangible services of software are promoted and sold.

SaaS that stands for Software as a Service is a process by which any business hires a professional application that lets users to connect and use cloud-based applications via the internet.

75% of cloud workflows will be provided as SaaS by 2021. This statistic shows the growing popularity of the SaaS business model.

SaaS provides regular updates and adds timely functionality to its service.

Since SaaS marketing is an intangible product, the offered services have to be continuously monitored & improved as per the feedback received from existing and potential customers so that you can thrive in business and expand your customer base.

The Ultimate Guide To SaaS Marketing Strategies

If you are someone who is looking to study SaaS marketing, you must understand some basic differences between the marketing of a normal product and a service that is intangible.

While promoting and selling tangible products, customers normally pay only once whereas SaaS marketing users normally pay in the monthly subscription.

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Giving products as freebies is not ideal in normal marketing; however, in SaaS marketing, it could be beneficial to give users the option to use services as freebies.

SaaS is a product of the digital age and it requires different types of strategies to make it successful for your businesses.

Here are the 5 strategies for SaaS that will give you result quickly:

1. Offering Of Free Trials Or Subscription Plans

SaaS Pricing

One of the main aspects while devising a strategy for SaaS is the building of trust among the potential and current users in the services.

Since potential or existing clients cannot see the product by touching or seeing it, the offered services should show their respect in the usage.

It can be done by offering the services for free at the initial period, so the customers can taste products and if they perceive them positively, turning them into paid subscribers is not difficult.

Even if the customer does not convert into sales, SaaS companies still get a lead for the future.

To make more potential users aware of the offered services is the goal of this tactic and it has been used extensively by many SaaS offering companies for good effect.

One of the best ways to implement this “free service” is via Instagram and Facebook Ads, where the target audiences are prompted to click on the ‘Free Trial’ button by highlighting the offered services and exclusive rewards.

Also, offering a free trial via social media makes SaaS companies reach a wider audience.

2. Talk Trigger Strategy For SaaS

SaaS StrategyTalk trigger is a strategy that offers some surprise or some incentive that is related to offered services by SaaS companies for target customers, (both existing and potential) that creates positive conversations or word of mouth.

However, it has to be relatable, repeatable, and accessible for the customers.

For instance: a SaaS company offering an extra 1-month free service for referring new clients.

While devising a strategy for SaaS talk trigger, companies must keep in mind, the below points:

  • It should not be a gimmick and must follow the promised free services or incentives.
  • It should not be a one-time activity. It should be repeatable.
  • Cost-effective in both points of view, the SaaS company in question, and user.

One of the best examples of talk trigger is to offer an incentive in the form of a rebate on the current subscription fee or extension on the paid subscription time frame.

3. Promoting Positive Reviews And Rating

Review and Comment

In the age of the internet, good ratings and positive reviews on good SaaS Company listing platforms that are given by genuine customers can create a positive atmosphere for SaaS marketing.

It is one of the best strategies for SaaS marketing that gives results.

To implement this policy, the SaaS application development companies can put a review and rating section in the ads running on social media or on their websites.

However, the rating and reviews left by the customers should be original and verified. A system can be in place to check the authenticity of the reviews.

Having positive reviews and ratings from the customers creates a positive atmosphere for the company offering services.

It gives mouth-to-mouth publicity and promotes brand loyalty for SaaS Marketing companies.

If a company has a good substantial customer base, it will help to increase your positive review and rating status.

4. SEO For SaaS Marketing

SEO SaaS

When anyone is thinking of promoting a service online, SEO is one aspect that cannot be ignored at all.

The SaaS Company can boost the selling services drastically if they follow a quality SEO practice on their marketing strategy.

SEO is a continuous activity and the following are some of the important points that can affect the SaaS marketing companies on SEO ranking:

  • Technical aspects of the Website:

Having a website that loads faster, doesn’t shut down, works efficiently, and provides easy navigation to all parts is very important. All these aspects should be monitored continuously for betterment. No one likes visiting a lagging website with poor navigation and an unattractive look.

  • On-Page Aspects As Per SEO:

The second most important part is the on-page SEO aspects of the website specifically related to all Both website and blog page content must be well SEO optimized to improve the visibility on Google search.

  • Off-Page Aspects As Per SEO:

The linking of the blog posts back to the SaaS marketing page is important. As it makes Google search engine understand how valuable your services are and for customer view-point as well. More back links mean more traffic to your website and gains to SaaS marketing companies.

5. Video Posting On YouTube Social Media And Website

Youtube

Videos have become a new age medium for communication since the advancement of 4G and now with 5G, bringing more people to video consumption.

By posting positive videos about the companies services, internal working, testimonials of existing clients, and overall positive vibes fun videos on social media like

  • Instagram
  • Facebook
  • YouTube

etc, is a great way to make potential customers relate to your services and have a better understanding about them.

42% of users expect a response time of less than 60 minutes.

I’ve worked with the team at Andolasoft on multiple websites. They are professional, responsive, & easy to work with. I’ve had great experiences & would recommend their services to anyone.

Ruthie Miller, Sr. Mktg. Specialist

Salesforce, Houston, Texas

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It creates curiosity about the SaaS Marketing companies and gives insight into the company vision and work style.

Just like there is no perfect beauty in the world, similarly, there is no perfect SaaS Marketing strategy.

SaaS marketing companies need to be innovative with ideas and use a blend of services as they fit for promotion and marketing.

Conclusion:

These worthwhile SaaS marketing strategies, if leveraged, will enhance customer acquisition and lead generation for SaaS businesses.

Diverse offers avenues that marketers can explore to serve as beneficial SaaS marketing strategies, and there are endless possible combinations that work for numerous businesses.

All you have to do is to try different approaches, and with the help of consumer metrics, figure out what works. SaaS marketing is a paradise for marketers.

Are you planning to develop you next SaaS application and implement SaaS marketing strategy for your existing app! Lets discuss with our experts 

7 Powerful SaaS Marketing Strategy: A Step By Step Guide

Posted on by Jay

In the era of digitalization, the world of business has seen a drastic change. The internet has made it possible for businesses to expand their reach and target a worldwide market. However, this comes with its fair share of challenges. With the abundance of merchandise available, it’s difficult to stand out and make an impact. A marketing strategy is the key to success in the digital world. For a SaaS company, it’s important to have a solid marketing strategy. This will not only help you gain traction, but also drive your sales and monetize your business efficiently.

With the global SaaS revenue hitting $105 billion this year and then expected to cross $141 billion by 2022, it’s tempting to join the bandwagon and develop your own SaaS business.

However, the SaaS business model is quite complex and that’s why your execution needs to be on point from the very beginning.

The pandemic has hugely impacted our lives, with several business sectors barely surviving to stay afloat.

The rate of cloud adoption globally, has grown significantly this year, as many companies that were not in the cloud already, were compelled to migrate to it by enforced remote work.

In fact, the new world order has seen Software as a Service (SaaS) gaining prominence like never before.

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With limited budgets and accelerated digital growth, SaaS has become the ultimate choice for enterprise IT investments – whether big or small.

So, what makes a strong SaaS business? Here are 7 powerful SaaS marketing strategy: a step by step guide that will help you start off on the right foot from the new year.

Offer A Solution For A Problem

The first thing you need to do is ensure that you are addressing a certain problem and you are offering an effective solution for that problem.

Start by identifying a problem you’ve struggled with and think about how you can solve it in the best possible way.

Another option is to think about how you can solve a certain problem better, cheaper, or faster than your competition.

Having industry experience can also be very helpful as you will be able to identify a void that you can fill.

The bottom line is, if you don’t solve a problem, you don’t have a business.

Write A Plan

Writing a plan is the best way to put your idea onto paper.

This doesn’t mean you have to write 100 pages; you can start with a single page pitch that roughly covers the following:

Strategy section which will contain a short description of your SaaS business and your UVP, the problem you are solving, as well as your solution to that problem (i.e. your product).

This section should also identify your target audience and your competitors and say what makes you different from them.

Your tactics, i.e. the channels you will be using to sell your product, as well as the marketing strategies that you will be employing in order to attract customers.

Include a list of your core team members, as well as the resources you’re going to need.

A SaaS business model. This section will state how your SaaS business will make money. At this stage, include only your key expenses and primary revenue sources.

Once you’ve validated your idea, you’ll be able to revisit your business model and create a detailed cash flow forecast, sales forecast, and expense budget.

Make Some Market Research

Now you have your plan but at this point, it’s just a list of assumptions. In order to determine whether your assumptions are right, you need to validate your idea.

In other words, you need to find out whether your idea can be turned into a viable business that actually makes money.

The best way to do this is by talking to your prospective customers. You can get the necessary feedback by running search ads, launching a coming soon site, or launching a Kickstarter.

You can even go door to door or talk to people face-to-face to find out if they would like a product like yours.

Based on the feedback you collect, you’ll be able to revisit your idea and adjust or refine it.

Or, you might determine that there is no market for your idea and come up with an entirely different one.

Another way to validate your idea is by researching your competitors to see what solutions they’re offering for the same problem.

Is there anything that customers want but don’t get at the moment? What could you do differently and/or better than your competitors?

Get The Pricing Models Right

When it comes to your pricing models, you need to test and be ready to make changes in order for your pricing to fit what your customers are prepared to pay.

And having in mind that the competition in the industry is fierce, this might mean offering your product for less than you believe it’s worth, at least at the beginning.

Performing a thorough check on your competitors is a good place to start.

Determining their average, lowest, and highest prices will help you determine how much you should charge for your software.

Brand To Set Yourself Apart

As we mentioned earlier, the competition in the SaaS industry is fierce, so you need to figure out how to brand and set yourself apart from the others.

This means developing your own tone of voice and investing in design. You can leverage tools like Canva to workshop brand colors, logos, and designs even if you have no design knowledge.

You should also ensure that your messaging is consistent and that your partners, vendors, and clients understand who you are, what your vision is, and how you serve.

Finally, don’t forget to pay attention to your domain.

No matter how insignificant it might seem, choosing a good domain is a key part of your branding strategy, as it will give you credibility and an advantage over the competitors.

If possible, stick with a .com domain name that is short, memorable, and easy to spell.

Prepare A Solid Marketing Strategy:

Content marketing is especially important for SaaS businesses. Getting started with content marketing isn’t hard; all you need is a company blog where you will create content that will help your prospects solve their problems and share your expertise on certain topics to establish yourself as an authority.

Participate In Online Communities

Another way to establish yourself as an expert is to participate in relevant online discussions and comment on other people’s blog posts.

I’ve worked with the team at Andolasoft on multiple websites. They are professional, responsive, & easy to work with. I’ve had great experiences & would recommend their services to anyone.

Ruthie Miller, Sr. Mktg. Specialist

Salesforce, Houston, Texas

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Figure out where your potential customers like hanging out online and try to get coverage in those locations. It can also be useful to get listed on all the big SaaS directories in order to get initial feedback about your product.

Final Thoughts

The most important thing you should do as a SaaS business is to get your product out there. As long as you have a working plan and a willingness to make changes, your business will stand a chance against the competitors.

Top Reasons Why The Future Is SaaS Subscription

Posted on by Netrananda M

The software industry has gone through many changes in the last few years. Software as a Service (SaaS) is booming in this internet age.

SaaS has become an important aspect of  running a business in the internet era. However, SaaS technology refers to an application that is hosted by a provider on the server’s side and accessed by clients through a secure internet connection.

With SaaS technology , there is always a growth in the  Monthly Recurring Revenue (MRR) and Customer Lifetime Value (CLV) which helps to lower the Customer Acquisition Cost (CAC).

“In the future of SaaS will largely depend on buyer and consumer choice.  Businesses are taking note of buyer behavior and switching to subscription-based business models.

From a company perspective, the goal is to provide many different applications to satisfy consumer needs and buying behaviours.

The future will also depend on creating an ecosystem that will allow businesses to integrate into a partnership-driven community.

The integrator will be the winner.”

                                                                             – Grant Goodwin, President, AllRoads

Know more insights from Industry Experts and the future of SaaS.

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The model of the SaaS industry largely depends on retention and you can keep your customers paying month over month for a longer period of service.

Retention depends on customer engagement and both are the lifelines of every SaaS business.

Along with faster and more reliable internet, including lower barriers to entry in the multiple markets, this has paved the way to a new generation SaaS tools. The audience that needs these new solutions reaches out to these SaaS companies.  

According to SaaS benchmarking survey, let’s have a look at the difference between new customer acquisition cost (CAC) and the cost of upselling to existing customers (per $1 of New Annual Contract Value),

SaaS Benchmarking Survey

In SaaS upsells, it’s all about the value. If the customer can see the value of the upsell compared to his or her current subscription or purchase level, then they will understand why they need to buy.

Neil Patel, Co-Founder of Crazy Egg

Market Estimations

According to Forbes by 2018, 27.8% of the worldwide enterprise applications market will be SaaS-based, generating $50.8B in revenue up from $22.6B or 16.6% of the market in 2013. From IDC study data, you will find

You can refer to the below image of the SaaS success achieved by these largest SaaS companies  of 2021 and 2022 by delivering SaaS tools..

SaaS companies

 (Source: BMC.com)

  • Salesforce, Intuit and Oracle controlled 35% of the worldwide SaaS market in 2013; this could continue to decline as other companies have now established a strong foothold in the market.
  • The worldwide SaaS operations and manufacturing applications market will reach $5.8B by 2018 – In 2013 7.3% of all applications were SaaS based and this is set to increase to 10.30%
  • Cloud applications will account for 90% of all worldwide traffic data by 2019 an almost 10% hike seen from usage stats at the end of 2014.

(Source: drip.com)

“Organizations are advancing their timelines on digital business initiatives and moving rapidly to the cloud in an effort to modernize environments, improve system reliability, support hybrid work models and address other new realities compelled by the pandemic,” said Brandon Medford, senior principal analyst at Gartner

It’s the right time, to go for SaaS application for a rocking business as the future being bright.

Coming to betterbuys SaaS Report 64% of small and medium businesses today rely on cloud-based technology to drive growth and boost workflow efficiency and 78% percent of businesses indicate that they plan to expand the number of SaaS platforms.

SaaS Expenditures

Research analysts forecast a growth to $12 billion in 2016, a jump to $16 billion in 2017, and a continued growth year over year to a whopping $55 billion by 2026.

The subscription models now account for more than 50% of new software implementations over traditional on-premise licenses.

It’s estimated that by 2020, about a quarter of organizations in emerging regions will be running their core CRM systems via SaaS, a 10 percent increase over 2012.

Top Companies in SaaS

More than 1,400 SaaS companies were founded in the last five years.

Among every industry, marketing comprised nearly 4 in 10 of these relatively recent SaaS startups.

Market Segments of SaaS

Application pricing is always a hot debate and customers or users are looking more and more convenience regarding this.

Usually subscription and transactional models are used by the SaaS vendors.

In subscription model a periodic (monthly, yearly, or seasonal) payment to gain access to products or services where in transactional model you pay as you use the products and services.

The subscription-based pricing model works for services that deliver true value to users, now and in the future.

Why SaaS Subscription Is The Future

1. Provides Regular And Sustainable Income

SaaS subscription model gives regular and predictable revenues to the SaaS vendor though for a specific period of time.

As a vendor, you can track your monthly revenue to get your estimated income rather projection.

The subscription price can be easily paid by users and customer as it is cost effective and broken into smaller payments.

Wakeupsales CRM Tool Pricing Model

Wakeupsales CRM Tool Pricing Model

2. Scalable And flexible Pricing Model

SaaS subscription pricing model is scalable and flexible in nature with a long-term plan. Traditional pricing model may create problems in the competitive and fluctuating market.

SaaS provides a balanced and adjustable pricing which can be easier for buyers and users to afford. The regular billing cycle also helps users a lot.

Orangescrum Project Management tool Pricing Model

Orangescrum Project Management tool Pricing Model

3. SaaS More Focuses On Towards Retention Of Existing Customers

A business owner always relied on new customers but in SaaS relief the burden of focusing more towards new leads and prospects.

Serving better to existing customers with high-quality support and update them to the paid membership is the basic rule of SaaS.

Quality service to existing users is the key reason for its popularity. It is secure, solve wide ranges of business problems and improve your profit margin.

SaaS

4.SaaS Provides Data And System Security: 

As any subscription billing service handles a large amount of information of their customers, information such as credit card details, address and sometimes even bank account and their social security numbers. And the cybercriminals always look for chances to exploit any weakness. 

Hence, to resolve this issue the providers are always equipped with all the latest in network and data security that includes up-to-date encryption protocols and strong defense against the known hacking techniques.

I’ve worked with the team at Andolasoft on multiple websites. They are professional, responsive, & easy to work with. I’ve had great experiences & would recommend their services to anyone.

Ruthie Miller, Sr. Mktg. Specialist

Salesforce, Houston, Texas

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 It is not only applicable for the actual billing servers, but it is also for the security of the connection from the customers.

5. Subscription Billing Integration:

The major factor that implements growth of Saas companies for the future is when the clients can smoothly integrate the subscription billing service in their operations. With a quality subscriptions billing provider, makes it easy for it’s clients to customise the appearance and feel of the billing application that fits perfectly in what they are going through. It provides customizable billing portals which can be easily embedded in the existing website’s of the client

Conclusion:

No doubt software as a service has bright future and it is grabbing the attention of both consumers and vendors.

The subscription-based pricing model is more effective than the traditional. It is delivering true results to the end users with cost-effective price.

Are you planning to switch your old app to SaaS! Let’s Discuss

We have the experience and expertise for SaaS application development and deliver with high quality & support services too.

You can also depend on our service for your SaaS application development, our experts will hear out your preferences and develop your desired application accordingly

Our two products Orangescrum and Wakeupsales are the best examples of our work. Check our product pricing models and try these now.