Strategies SaaS Businesses are Using to Grow – Part 1

While technological advances have spurred software development, it’s the subscription model favored by many SaaS businesses that has transformed it into a thriving industry. SaaS companies typically charge a subscription for their product, which is delivered and stored within the cloud. The subscription business model means companies reach profitability over time and must continually provide value, otherwise their clients will become at risk of churning. Here are some strategies SaaS businesses can use to ramp up their lead generation efforts:

Content Marketing

Businesses around the globe are using content marketing to build their brand, attract visitors to their website, and generate leads. A key advantage of content marketing is that it has a compounding power of return — just like a smart investment, it increases in value over time. Importantly, content continues to drive leads, whereas other forms of marketing, like pay-per-click (PPC) advertising, will only do so for as long as you continue spending. It’s for this reason we think of content as an asset that businesses own, whereas online advertising is rented. This distinction is important for SaaS marketers to consider.

Product Trials

The product trial is fast becoming an important source of lead generation for the SaaS industry. Nothing beats “test driving” a product and your business should consider making a trial available via your website if you don’t already.

Trials are a particularly effective lead generation tool if you’re selling to a tech-savvy audience that want to experience the product, rather than speak with a sales rep. Product trials are typically self-serve, so you can continue to generate leads with little ongoing marketing investment. However, it’s important to mention a few guardrails. You need to ensure people have a positive experience when trialing your product, so you should consider providing some onboarding or support, depending on the complexity of your product and your unit economics. This could be either through one-to-one calls, group webinars, automated emails, or a combination of all three. The value of product trials is that they are a strong indicator of buyer intent. A prospect is investing their time getting to get to know your product.

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