7 Growth Hack Strategies For B2B Saas Brands To Scale Up
As a B2B SaaS brand, you must know how to make your products stand out in the highly competitive market; otherwise, your company won’t grow. This is why companies use growth hack strategies such as offering side services and various deals to help improve the growth of their product. These strategies work for them. Brands like PayPal, Mailchimp, and Dropbox have successfully increased their user base and revenue with these growth strategies.
To successfully use these growth hack strategies, it is crucial to know what it means. Growth hack strategy refers to marketing tactics that focus on growing and amplifying your product without being dependent on traditional marketing strategies, which are usually slow-paced.
This article will discuss seven growth hack strategies for B2B SaaS brands to scale up.
1. Contribute to communities
Communities help each other. Irrespective of how big you are within your field, joining popular communities in your industry and participating actively enables you to grow faster. When you help members and contribute to conversations, you become more of an authority in your industry. Community members start to trust your word because they believe you are an expert and have authority. With this in place, they will give you their audience and engage you whenever you share your products. As a result, they are likely to respond positively and be more willing to try out your product.
Online communities are essential, and many organizations believe that it helps improve their brand credibility, awareness, and exposure.
If you decide not to promote your products in these communities but continue to put in the effort and participate actively, your efforts will still pay off. You will build relationships and connections in these communities. Your potential clients will approach you by themselves and ask to try out your products, and they will be more than willing to recommend to other people within the community and beyond.
2. Add incentives for referrals
For each person who uses your product, about 25 other people know within their industry that need your products or services as solutions. This is where you take advantage of referrals. With referral marketing, you can bridge the gap between you and your potential audience, but you have to add incentives for referrals to be effective.
The truth is, there is a higher chance of trusting recommendations from a friend or colleague over a sales pitch or advertisement. Referrals have a 4x higher likelihood of purchasing, and the lifetime value is 16% higher.
For every new prospect that a customer adds to your business, offer them incentives such as feature unlock, a free month, one month plan upgrade, etc. You shouldn't be shocked that the growth of many of the big SaaS products is attributed to referrals.
For instance, Dropbox experienced growth of 3900% within 15 months with referral marketing. Their strategy was simple and effective. After every referral, both of you are given a free space of 500MB. That's all.
3. Build smaller tools that your audience find useful
You provide resources for your audience, which they will find helpful as it provides them with more understanding of the services and products that you offer without installing them. In addition, resources of this nature can potentially increase the product’s credibility and increase the value and trust that your audience has for your brand.
Hubspot, for instance, has a vast library of resources, from idea generators to kits and guides, to help their audience scale through every part of their marketing and sales. After the audience has successfully leveraged the tools and understands their impact, they will be more willing to invest in their products.
Ensure that the tools or resources that you create can be used independently by your audience without needing your extensive products or having to pay or upgrade to get the whole product.
4. Find compatible platforms and integrate your products
Suppose your organization builds review management software, for instance. Your users would want this software connected to their email marketing software so that it is easier for them to collect reviews. If you can successfully integrate your software with email marketing software solutions, you will quickly improve the user experience of your software. That’s how much integration does for you.
When it comes to simplifying your user experience, B2B integration is crucial and has proven to be highly successful. Integrating your solutions with other products that your audience commonly uses makes it easier for your users to enable some of the specific needs.
Integrations like these help your business to attract the audiences of your integrated partners. So you have more people installing and enabling your SaaS products without going through the whole user funnel. This is how integration helps your business to grow.
5. Have a content library
Content marketing takes a lot of time, but it's crucial for your business. However, it is more important that you know how to use it to hack your product’s growth. Sharing content aggressively helps to increase your visibility on different platforms. A strategy by Gary Vee is to create long-form content and share it with various publications, repurpose it into documents, carousels, videos, etc., for different social networks. With this, you will be able to put out your values to your audience while creating a solid presence with the keywords you want your website to rank for.
Here are a few ways to go about content creation:
● Create educational how-to content about using your products to achieve a goal. Make these guides for different products and other goals.
● Inform your new audience about the problems that your products tackle. Ensure to discuss your audience’s problems regularly, how to solve these problems, and how your product helps.
● Give your audience some best practices for the specific needs that they have.
● Show examples of others using your product successfully with their strategy. This will inspire your audience, and they will be more willing to pay for your product. You can also achieve this by using customer’s stories to prove your product’s success. These stories should also give details about how the customer used your product.
● Create content to show how your products work efficiently with other popularly used tools by your audience.
6. Take advantage of ProductHunt
Product Hunt is a platform that offers you the opportunity to reach out to newer audiences. It is a platform that you have to take advantage of to not miss out on opportunities to grow. On this platform, users can share new products and discover products shared by other users. It uses a voting system that sees products with more upvotes climb high and become more visible among the list of products curated on the website.
Some products have enjoyed massive conversions and an increase in sign-ups from this platform. It has become an effective platform for B2B marketers to promote their resources and tools to attract subscriptions, gain more traction, and sign-ups for their tool. This allows them to create a subscriber list to leverage later and convert into a larger product.
To help you get a better reach from your listing, here are some best practices:
● Optimize the listing’s copy by using the right keywords. This will allow people that search for similar products to find your product as the website can direct them to you.
● Post your product at optimal times when there are more people online, and you are likely to get a high number of viewers.
● Include catchy images to your product so that it’s easier for product hunters to upvote the product.
● Use social share and direct messaging to invite your network to upvote your products—the higher your engagement, the more visibility you get on this platform.
7. Use LinkedIn
Invest most of your time on LinkedIn. It’s a very effective platform for B2B marketers to build new relationships and get new prospects. In addition, this platform accounts for over 50% of the social traffic on B2B blogs and websites, so your efforts aren’t wasted.
Here are a few ways to use this platform
● Identify your ideal audience and use tools to build a LinkedIn prospect list.
● Post content on the company’s page and get your team to share it. Ensure to use relevant hashtags, so it gets to the appropriate audience.
● Use different formats such as long-form content, documents, images, etc., to find the most effective one.
These are a few growth hack strategies your B2B SaaS brand can use to scale up quickly. With these strategies, it’s easy for you to increase your visibility and find ways to win over new audiences, and this will open you up to new opportunities for growth.
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