5 Important Hacking Methods For Software program As A Service Progress

Growth hackers find ABM to be extremely effective at improving lead quality, increasing hopper speed, and making targeted reach more effective

Content marketing informs customers about products, creates trust, credibility and brand awareness

To be effective at SaaS growth hacking, it’s important to always deliver value to your potential customers

Five Essential Hacking Strategies For Software As A Service Growth

Many companies use Software-as-a-Service (SaaS) because of its flexibility and simplicity to meet their marketing needs. Different types of SaaS marketing platforms help companies simplify their marketing needs. Growing a SaaS business is not easy, however. It’s pretty challenging because the industry is flooded with competition. Research had predicted very early on that 73% of companies would convert all of their apps to SaaS by 2021, making SaaS competition tougher than ever. Marketers are paying attention to the already limited attention spans of consumers in B2B and B2C areas.

As a SaaS company, you create an audience, acquire new customers and scale your company. But as popular belief goes, it cannot be done without spending tons of money. But that’s not true. This is where these growth hacking strategies can improve your game.

According to ITSMA, 80% of marketers who measure ROI believe that ABM has a higher ROI than any other marketing investment.

Account-Based Marketing (ABM) is an underrated outreach tool in B2B marketing. However, it has the potential to help companies enter new marketplaces and industries, or attract potential customers for a product release or an upcoming event. For an ABM campaign to improve your SaaS, it must be based on identifying qualified leads that match the ideal customer profile and creating relevant content that provides awareness, details and pricing information, as well as the urgency of the conversion.

Growth hackers find ABM to be extremely effective at improving lead quality, increasing hopper speed, and making targeted reach more effective. This includes identifying the target accounts and the key people in the accounts that you want to influence, and gaining a deep understanding of their challenges, priorities, weaknesses, and preferred channels of communication. That way, you can create content that resonates with them, understand them better, and easily convince them to love your SaaS.

  • Use the power of referrals

Dropbox achieved a meteoric growth in registered users of 3900% in 15 months through referrals! This also applies to other SaaS companies like PayPal, Airbnb, Uber, etc.

Word of mouth is powerful. Referral programs play a vital role in transforming SaaS startups into giants. According to a Nielsen study, 92% of people would trust recommendations from people they know. People are four times more likely to buy when a friend recommends them, which makes referral programs very lucrative. Recommendations are an important source of customer acquisition. It creates positive brand awareness, increases the lifetime value of customers by 16%, lowers the costs per acquisition and increases sales.

Referral incentives such as bonus money, reduced bills and reward points are only a means of attracting new customers quickly. If a SaaS product / service doesn’t add value to customers’ lives, the chances of getting referenced are slim.

  • Content Marketing Strategies

SaaS companies that blog daily are 13 times more likely to achieve efficient ROI.

SaaS companies using content marketing saw 30% higher growth rates and 5-10% higher retention rates. Content marketing informs customers about products, creates trust, credibility and brand awareness. SaaS companies can target a specific audience and generate interest in their brand by using content marketing in the form of high-converting blogs, Quora, webinars, podcasts, etc.

Webinars, for example, are not only intended for targeted lead generation. You’ll engage new and existing users, train them on how to get the most out of a SaaS product / service, and reduce customer churn. It creates the credibility and thinking ability of a brand in your niche.

Podcast video marketing is an extremely powerful medium. Podcasts provide basic information from industry experts. Effects of Podcast Video Marketing on Customer Acquisition Cost (CAC). Customers who come via podcasts or have a certain assignment from video marketing pay less CAC.

  • Building Trust Through Software Listing Websites

To say the SaaS room is crowded is a significant understatement. A simple look up of ‘CRM’ on the software review platform – Capterra – shows 770 results. Regardless of the subset of SaaS your business is a part of, competition is fierce.

Around $ 40 billion is spent on unused or wasted SaaS tools every year. This speaks in favor of the importance of being featured and regularly checked on websites that summarize customer feedback for SaaS products. According to Groove, testimonials and social evidence go a long way in building trust and driving higher conversions. Social evidence and positive reviews on software listing platforms like G2 Product Hunt, Capterra, Software Advice, etc. are key to SaaS marketing and generate digital word of mouth.

  • Automation for lead nurturing

SaaS companies that automate lead nurturing have seen revenue grow 10% in 6 to 9 months.

Businesses that drive leads generate 50% more sales at 33% lower costs.

Automated lead nurturing is a growth hacking tool for SaaS. It enables companies to build and maintain connections with potential customers and prospects without being directly involved in the sales process. The challenge is that SaaS companies often fail to convert leads into paying customers. However, by implementing automated lead promotion strategies, they can skyrocket their conversion rates and ROI.

Creating an automated lead nurturing program usually involves:

  • Identify a campaign topic that is of interest to potential customers;
  • Creating content in the form of blog posts, articles, social media videos, eBooks, etc. that addresses all stages of the sales funnel;
  • Automate lead nurturing workflows to facilitate conversions.

When the emails are designed to engage the leads with additional content and offers and workflows set up with automation software like HubSpot, the conversion begins.

The central theses

To be effective at SaaS growth hacking, it’s important to always deliver value to your potential customers. Based on our experience in helping SaaS businesses grow, we’ve found these ideas are effective in increasing user base and revenue. It’s worth experimenting with these 5 growth hacking strategies for sustainable and organic SaaS growth.

Gaurav Lakhani, co-founder of Voxturr, co-wrote this piece.

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