SaaS lead generation is really hard and competitive.
In fact, generating new leads for SaaS companies is becoming day-by-day aggressive. People have changed their minds and perspectives. New products are launching in a few seconds. Even your customers are smart enough these days to identify whether your product is appropriate or not.
“When SaaS pricing is easily understood, the entire sales process benefits. The time you invest in organizing your pricing and making sure it’s displayed as clearly as possible is time you save down the line during key conversations with prospects.”
Taylor Bond, Account Executive at FastSpring and formerly the Co-Founder and Head of Growth at SalesRight (Now FastSpring Interactive Quotes)
However, for SaaS businesses, customer retention is the most important factor to thrive in today’s crowded environment. If you’re a founder of any SaaS company, you have used many strategies to generate leads but what you got in your hands – not even a single piece of bread!
Well, to bring more users you need a strong lead generation strategy that can hold your customers for a longer period of time. We know you’ve spent a lot of time and money to stand your business product in-crowd and here’s the list of lead generation strategies that every SaaS company should implement to bring in new leads and convert into customers.
Before jumping to strategies, let’s get to know what exactly is SaaS?
SaaS companies a.k.a. Software as a service is a software product that businesses use to deliver to targeted customers on a subscription basis. This cloud-based service is tricky to sell as well as demanding for many businesses.
It’s challenging for SaaS marketers to market something that has no physical presence. It’s very critical. In a nutshell, SaaS lead generation is the effort made by SaaS businesses to attract users to your product and turn into paying customers.
It’s essential for every business to have SaaS solutions. The market is growing globally and powers the business world. The following statistics will help you to know why businesses are choosing SaaS to be a long term part.
- 73% of organizations say they are clearly making all their systems SaaS by 2020.
- More than 90% of businesses in Asia and the Pacific are showing great progress to use a multi – cloud environment.
- 52% of SaaS companies increased their spending on customer retention last year.
Lead Generation in SaaS Business: A challenging aspect
As we already know that lead generation is most important for any business. For B2B SaaS companies, demand and lead generation is the most challenging aspect.
SaaS business is critically different from any other business type that the world is aware of. Marketers working in this industry have a tough job to generate leads. If they don’t bring new users, the SaaS business won’t grow. To thrive in this competitive industry, SaaS marketers need to plan a strong and actionable SaaS lead generation strategy that attracts more customers to view your SaaS product and nurture them until they’re ready to purchase.
Let’s dive into the () key strategies that SaaS companies use to scale up their lead generation in the SaaS market
1.Have a clear buyer persona
Before you reach out to buyers it’s essential to come up with a clear buyer persona. To generate leads successfully, it’s important to specify who are the ideal prospects for your SaaS product or service.
A clear buyer’s persona will help you to give clear insights of buyer’s interests, weak points, and buying behaviours. As having a strong buyer’s persona is the foundation of SaaS marketing strategy, this will allow you to reach out to prospects and target them until they’re willing to provide contact information.
For SaaS companies, it’s not necessary to have one buyer persona, though it’s perfectly fine to have multiple buyer personas depending on the products or services they offer. A study shows that,
Roughly six out of 10 (62%) of those surveyed expressed confidence in the ability to create a list for a campaign that accurately reflects their target audience, while half said they are confident in the ability to segment that list.
2. Measure lead generation strategy KPIs and metrics
Key Performance Indicators or KPIs are metrics that help you to analyze your captured data effectively and measure the performance. They tell which of your objectives are achieved and which one needs improvement.
Once you define KPIs and metrics for goals, you need to set benchmarks for each specific goal that will help you to improve your lead generation, business model. In turn, you’ll be able to generate leads for your company.
For example, if your goal is to obtain email addresses from visitors who visit you, you have to measure the email conversion rate or look at the number of visits who are returning to your website. There is a lot of common lead generation KPIs that you must measure, here are some of the following:
Organic traffic, email conversion rate, click-through rate, cost per lead, bounce rate.
3. Email Marketing never dies
We have a question for SaaS B2B marketers: Are your email subscribers leads?
Well, many B2B marketers would deny this statement. And yes, it’s true email subscribers are not leads. But if they’ve started to interact with your product or service in any certain way they might become your lead.
You can mark or flag them as subscribers who start interacting like a lead. We know you’ve sent tons of emails to many subscribers. But once you know that your subscriber is taking interest in your product, don’t miss the opportunity to build a relationship.
All you need is a nice and good-looking welcome email to convert your subscribers into leads. So your lead generation activity starts here when you start getting more and more subscribers into leads.
4. Automating Lead Nurturing Strategy
Lead nurturing happens when your prospects are not yet ready to purchase. It is the process where they are constantly “nurtured” until they are ready to buy from you.
It might sound good that you’re generating too many leads for your SaaS business, but in the long run, it might get ineffective. Do you know nurturing leads costs a lot of money and time?
Apply automation in your lead generation strategy, it will make your marketing processes more productive and effective. Suppose, you’re nurturing low-quality leads and have a poor experience with you. It’s obvious that they share their experiences with other buyers and this might hinder your future SaaS marketing campaigns.
There is no need to worry about anything, there’s a high possibility to turn them into paying customers, they might actually convert. But it can only be done by automation that can assist you to learn more about leads as people and how they collaborate with your SaaS business.
5. Use LiveChat or Real-Time Support
Live Chat has been loved by customers when it comes to real-time communication support agents. In fact, 91% of users using live chat are totally satisfied in making a purchasing decision while 63% of users return to the website that supports live chat to resolve issues or any queries.
Being around for a long time, live chat support function becomes a true potential for b2b marketers when it comes to generating SaaS leads. As customers have repeated questions and tech support issues in high volume, here live chat support helps marketers to focus more on generating leads instead of addressing their issues.
A live chat function can help you in many ways:
- Real – time communication
- Reduces cost and save a lot of time
- Improves customer support
- Higher response rate
- Higher possibility of lead conversion
- Ability to build customer relationships in the long run.
6. Perform organic SEO
Don’t ever dare to ignore SEO. One false opinion has become acceptable among B2B marketers that SEO is no more important. But that’s not true. It is important when it comes to generating quality leads.
All you need is good and SEO-friendly website content that would eventually let your customers come in. Though having excellent content doesn’t get you leads, you still need to do SEO for your SaaS website.
In simple words, SEO, short for Search Engine Optimization, is done to make it easier for search engine bots to read your website, and allows SERPs (Search Engine Result Page) to display your website by giving a specific rank. No matter how excellent your content is, if your website is not properly optimized via search engine bots, your customers won’t be able to find it.
7. Highlight your benefits and advantages
To generate leads for your SaaS business, you need to offer complete access to products to customers in exchange for their contact details. By giving them the full advantage of your services, gives your visitors an opportunity to help them make their buying decision.
We would recommend you showcase your product/ service via video. It’s the best way of presenting your product. According to E2M Solutions, 4 times as many customers would rather watch a product video than read about a product.
8. Partnership with SaaS companies
Partner with the companies that sell the same service that you do. There’s a strong possibility for you to open doors to receive qualified leads. It might be a time-consuming job to have some partnerships with similar companies and more often not every tech company will have someone to manage partner marketing programs.
However, approaching other B2B tech companies and building strong ties would definitely be a good way to generate leads and highly relevant backlinks for websites.
There you go. Now that you’ve proven lead generation strategies to generate qualified leads in SaaS marketing. To start with, you’ve to experiment with the strategies and find what works best for you.
Lead generation is essentially important for growing a B2B technology business. It’s about communicating your brand’s value to your potential clients and encouraging them to provide contact details. To be successful in the SaaS business, you’ll need to understand your target audience properly and offer something valuable to them.
Did we miss any strategy that works best for your SaaS business? Share it in the comments.