SaaS products are now commonplace, as nearly every activity can now take place in the digital world. Buyers are happy to choose a digital option that’s more efficient and affordable than a physical one. But the problem now is that they have too many choices! How can you make sure your SaaS solution stands out from the competition?
You might have tried email marketing but received little yield from your campaigns. In the past, email blasts worked, but now customers are so inundated with email offers, they just delete them or unsubscribe.
You might also struggle with convincing customers that your product is worth the money. Although people are looking for digital solutions, they’re also gravitating towards more affordable options in this uncertain economic climate. This doesn’t mean they’re only looking for the cheapest option, but they need to understand a product’s value and how it will give them a higher ROI in the long run.
To demonstrate that your product is the right choice, you need to target buyers who are a good fit, gain and maintain their trust, and emphasize value. Here are five tactics to help you accomplish this.
1. Continue Targeting Current Customers
The buyers who are the easiest to reach when you’re releasing a new product or upgrade are the customers you already have. They already know your company and have purchased from you at least once, so they’re a prime target. Find ways to deliver more value to these customers, for example, with webinar tutorials on how to use advanced product features or newsletters with helpful tips. Offer incentives for renewal and discounts on upgrades.
Even if you don’t have a large network of customers yet, repeat purchases, upgrades, and long-term subscriptions add up. According to the Pareto Principle, 80% of your revenue will come from 20% of your customers. Continue to offer excellent customer service to maintain loyalty; be responsive to any requests and take feedback into account for future improvements.
Another reason to continue building on these relationships with current customers is that they can help you reach new ones through social proof.
2. Establish Social Proof
Stories from satisfied customers help your product stand out as a top choice. Aim to be known as the most highly rated for your type of SaaS software. Encourage your best customers to write positive reviews on your website and social media. Closely monitor reviews and address any negative ones promptly. Show appreciation for positive reviews and explain how you plan to address any feedback.
Brief reviews from customers establish your reliability, but sharing the details of how your product benefited them will take you even further. To tell the whole story, conduct case studies to highlight your customers’ success. A study by DemandBase shows that 93% of B2B buyers rate case studies as very or somewhat important in selecting a vendor. Choose to interview customers who are similar to your ideal buyer. That way, the buyer can easily imagine having a similar success story and will see how any possible objections could be overcome.
3. Optimize Your Offers
With budget being a frequent objection, consider how you frame your offers. Free trials are a common option, but you can customize your offers in a variety of ways. For example, you may offer a completely free 2-week trial where customers don’t have to enter payment information, a 30-day free trial that becomes paid if customers don’t cancel, or a freemium option with limited features. Freemium offers often work well because there’s no initial commitment required, and customers come to understand that the added features are worth paying for.
If one of these options isn’t getting the results you want, try a different one and compare. Analyze the data after every campaign so you can adjust your strategy accordingly. Certain offers may also work better on certain platforms than others.
4. Target Buyers Through Different Types of Media
To target your buyers accurately, consider which platforms and types of media they prefer. Although LinkedIn and Twitter are popular among business users, there are some users who are actually more active on Facebook. Find out which groups and forums your target buyers are active in and reach out to them there. Present your message using different types of media.
Video is not just for entertainment; it’s becoming the preferred medium for many to receive information. A study by Forbes showed that 75% of senior executives watched videos for work purposes at least once a week, and 65% of them visited a seller’s website after watching a video. An explainer video is a great way to give a potential buyer a quick, simple overview of how your product works. It can be used across a variety of channels including YouTube and social media.
For audio, host a podcast featuring experts in your industry or answering common questions about your product type or the industry in general. 44% of senior-level decision makers on LinkedIn say they regularly listen to podcasts, which makes this an ideal channel to branch out into. Podcast listeners seek out educational content and 80% of them listen to entire episodes from beginning to end. That means you have the opportunity to share in-depth expertise at length.
5. Become a Thought Leader in Your Field
When customers are choosing a software solution, they appreciate expert advice. Prove that you’re a leader in your field by developing original, informative content. This requires extensive research and consistent, high-quality output. You want to have the most complete, relevant information to become the go-to source for answers.
One way to do this is through blog content offering useful articles and original ideas. Give your reader something they can’t find anywhere else. Don’t focus on product news or making a hard-sell of your product as that may put readers off.
Expand beyond your own website and reach out to become a guest contributor for respected publications. Look for opportunities to be interviewed on a podcast or take part in panel discussions. It takes time to build up a reputation, but once you’ve gained trust, buyers are much more willing to try your products.
Putting the Ideas Into Action
To make your SaaS solution come out on top of your competitors, you need to stay in touch with your target customers’ needs and prove how your product is of value. This requires monitoring different channels, keeping up active relationships with customers, and creating varied, informative content. If your team doesn’t have the time to do this, you may consider using a full-service marketing agency.
Find out more about how Brighttail can help you market your SaaS product.