10 SaaS Startup Growth Strategies to Try in 2021
Growing a SaaS startup requires the careful application of modern strategies to ensure that grip is not lost along the way. Attracting more customers and maintaining them means growth and long-term success.
Growth is a priority for a new venture but relying on the traditional marketing tactics and growth strategies may not set you apart. The advancement in technology means that whatever worked a few years ago may not be relevant today. This guide explores 10 SaaS startup growth strategies you can try in 2021.
Use influencer marketing
Influencer marketing does not only apply to the retail sector or large establishments. It is also suitable for SaaS because when you strategically use influencers, you can establish long-term relationships.
To adopt an influencer marketing strategy, identify the most relevant influencers in your niche. After knowing the influencers to target, reach them specifically via email and target to relate with them first before collaboration.
You may consider the influencers who are already on your platform or those adopting your competition. After reaching out to them, focus on building a relationship with them even after collaboration.
It is affordable to engage influencers in your SaaS startup because many of them are likely to charge less for publishing. Leveraging influencer marketing can help you to gain credibility and build trust among your audience through sharing engaging stories.
Leverage content marketing
Content marketing should be part of any campaign because, without content, there is nothing to communicate to the audience. Creating relevant content for your audience can allow you to command authority in the market and allow customers to build trust in the brand. This is important for the growth of the customer base.
Content marketing can generate more leads and is cost-effective than traditional marketing strategies. It can allow you to meet the goal of engagement, lead generation, or brand awareness. However, for better results, you need to be smart when creating content for your audience by using new media forms such as podcasts and videos.
To step your content game, adopt the following procedures:
Identify strategic goals. These could be increasing brand recognition, building a contact list, encouraging customer loyalty and brand advocacy, and so on.
Identify your metrics. The metrics will allow you to measure performance to establish whether you are reaching the desired goals
Find the audience. Creating relevant content requires extensive research to identify their needs.
Analyze the competition. Analyze the backlinks of your competitors, their content, and the targeted platforms.
Develop a solid keyword strategy. A good keyword search shows what people are interested in and so you need to create relevant keyword tactics for the content.
The referral strategy is effective for finding new customers. Giving customers incentives to refer others can be a great way to spread the word about your brand.
Referrals are cheaper solutions to the fast growth of your SaaS business. However, you need to ensure that the incentives you are offering encourage your existing users to get new customers.
Create an amazing service or product to allow the customers to have the reasons to share. Customers are more likely to refer their networks if they are convinced that your brand is good. Offer an amazing product that meets the needs of your target audience and delivers excellent customer support.
Running a referral program for your SaaS startup can lead to reliable and faster conversions. It can also promote brand awareness and reduce the costs associated with acquiring new customers.
Introduce free premium or free trials
Use a free premium or trial growth strategy targeting specific groups of audiences such as millennials. Millennials prefer pay-as-you-go models and self-serve and are open to product upgrades.
Since millennials have great purchasing power, it is good to have them in your mind in your marketing campaigns. Build trust with them and prove that your brand is valuable. By giving free premium or free trial, you are communicating confidence about your product to the users. This strategy is also good for earning more signups to your email, thereby helping to fuel the email marketing campaign.
Create a subscriber email list
One of the most effective product marketing strategies for nurturing leads is email marketing. You can use emails to educate your customers about various ways of value addition using the content. This is a great way of providing upselling or cross-selling opportunities.
Email marketing keeps the customers engaged in the affairs of the company and updates them about product modification. When the customers are educated about a product, they are likely to comfortably convert with you.
Through email marketing, customers can be involved in the culture of your SaaS company in the communities and at work. It is also a cost-effective and reliable way of reactivating dormant customers and building their loyalty.
Optimize your website
A good product marketing strategy may not work well if you fail to direct customers to your website. An optimized website can offer an excellent user experience and minimize bounce rates.
One of the most effective ways of optimizing a website and increasing conversions is by having a live chat platform. Live chat ensures meeting and managing customer expectations and queries immediately they appear on the site.
A call-to-action is also a good way of optimizing a website. For example, after writing a prospecting email, ask the recipient to get in touch with you or click a particular button to arrive at something. CTAs should appear on all pages of your website and all the articles.
Advertise on social media
Business growth requires an investment in social media advertising because many customers spend a lot of time on social media. Create a substantial budget for Facebook advertising and use retargeting strategy to achieve significant business growth.
You can use influencers because, whether they are celebrities or not, because they are well-known by their followers. Promotions and contests can also get drive traffic to your website. For online visibility, you can also gather customer feedback via Facebook.
In addition to Facebook, LinkedIn ads are effective when you are aiming to get b2b leads. The Inmail ads are particularly useful because they are displayed as messages, which means they are less intrusive. LinkedIn features advanced search that can allow you to search and get to targets interested in your product or service.
Leverage paid ads
Having a product marketing strategy combining organic and paid tactics can make your organic content get a better ranking. A successful sponsored ad campaign is based on the successful use of keywords.
Long-tail keywords achieve a better conversion because they can address the specific needs of the audiences better. They reach browsers with purchasing intent and have minimal competition. Additionally, quality and ad relevance are also important because they can help to ultimately reduce costs.
Before investing in paid ads, you need to ensure that LTV matches the investment channel because LTV plays an important role in SaaS growth strategy. Also, use the right conversion metric to predict customer acquisition and overall track performance at the end of the campaign.
Use infographics uniquely
Use infographics to create links to your blog posts and landing pages. Viral infographics can visualize and summarize research findings to pitch to several publications. Pitching an evergreen and viral infographic is better than getting external blogs to integrate with your content.
Infographics are suitable for startups to drive website traffic and create brand awareness. They are key vehicles for developing thought leadership because they can let you send lots of information within a small space.
With a SaaS startup, you may need to spend a lot of time sharing your brand journey and infographics are effective to get this work done. After creating an infographic, you can use it several times and share it across different social media platforms or via email. Infographics last long and with the right topics, they remain sharable and relevant and are an ideal format for sustainable content.
Launch an initial partner program
Having a good partner program may attract motivated partners, leading to a massive growth of your business. This requires a proper definition of partner persona in terms of their target audience and how the partner sells. Find out if your preferred partner deals with a product that is workable with yours.
The program launch also requires a clear definition of partner goals because a partnership is a give-and-take affair. When getting into a partnership, identify what constitutes a fair trade for the partnership services.
A workable partnership program requires you to define the steps needed to attain the desired goals. Your partners can be thought of as a sales team's extension and so it is important to communicate the annual, quarterly, or monthly expectations.
Implementing the above SaaS startup growth strategies thoughtfully is the gateway to success. Whereas it is not necessary to create a huge budget for your business, implementing the above ideas can help you to stay ahead of the competition in 2021. The idea is to focus on connecting with customers, understanding their needs, and giving them reasons to buy from you.
Thomas Jackson works for a leading essay writer service and holds membership in several writing clubs in New York. He also loves writing songs and has been penning songs since he was a child. As a young author, he finds his motivation to write from live concerts and his loved ones.