When starting out in the SaaS business, it's tempting to think you need to spend a lot of money on marketing. After all, your competition is spending a ton! But don't fret: there are other ways. Many ways, in fact. We'll show you how to market SaaS in a very low-cost way.
Orchestrate Your Efforts
Your marketing plan should consist of a series of activities or "campaigns." A campaign is a specific set of actions you take to reach your audience to boost sales.
Campaigns are structured around three key components: goals and objectives, budget, and tracking methods. Let's look at each one individually.
Goals and Objectives: What do you want to achieve with this campaign? What are your goals? How will success be measured? You need to define your goal clearly so that you can develop an effective strategy for achieving it.
Budget: How much money do you have available for this campaign? How much does each activity cost? The budget should enable you to carry out all the necessary activities to achieve your goal successfully within the time frame specified by management.
Tracking Methods: How will we know if we're on target or if anything needs changing? Tracking methods include sales figures, customer surveys, customer satisfaction ratings, etc., which help management evaluate whether or not its objectives have been met by each activity as well as determine whether changes need to be made before they are carried out again next year.
Implement a Referral System
Implementing a referral system can help you reach new customers, create a community, and build your brand.
A referral program is one of the best ways to market SaaS because it's easy to implement, cost-effective, and produces results. When someone refers his friend or family member to your product, he becomes an ambassador for your company—and that's great for marketing. It's also possible that the person referred will become a loyal customer because he knows someone else who uses your product or service. It could lead to increased sales as well as referrals in the future.
Network With Other Businesses
There are many ways to network with other businesses, but one of the most effective methods is attending conferences and trade shows. These events allow you to meet potential customers, partners, and investors in a relaxed setting where everyone is open to discussing their business.
To make the most of this experience, be sure to have your elevator pitch ready with you - it's your chance to introduce yourself and explain what makes your company so unique. You'll also want to have a few business cards handy so that you can hand them out after each conversation as well as during networking breaks or lunchtime conversations; this way, people will remember who you are when they get home!
Online networking can be just as effective as offline networking. By joining LinkedIn groups related to SaaS business owners or posting on relevant Slack, Discord, or Reddit groups, it's easy for people across industries (and around the world) who may not necessarily be involved in technology-based fields themselves to discover and benefit from using your software.
Define Your Target Market
Begin by defining your target market. It will help you identify the audience that is most likely to convert. Next, you should know what your customers want (i.e., what features are most important to them). It will help you identify the value proposition of your product or service and how it fits into their lives.
Once you have a clear picture of your target market and how they live their lives, it's time to focus on how you can reach them. If all goes well and they like what they see, then communicating with them becomes critical—and staying in touch over time should be a top priority!
Get to Know Your Audience
To market your SaaS product effectively, you need to know who you're talking to.
There are a couple of reasons why knowing this is important. First, it allows you to tailor your marketing messages and content appropriately for the audience that needs them most. If a specific age group or gender has shown greater interest in your software, it makes sense to try targeting them more directly—at least until those efforts dwindle or fail. Knowing your audience also helps guide any research or testing on potential improvements or changes being made within the SaaS model itself.
Offer Free Trials/Demos
Offer free trials or demos to prospective customers. A demo allows you to demonstrate the benefits of your service, and a free trial gives potential customers a taste of what they're in for once they sign up.
Signing up should be easy; if it isn't, people will give up and move on. Make sure you have a straightforward sign-up process that ensures anyone who wants to try out your product can do so easily. During the trial period, provide them with any necessary information (such as how much time is left in their trial). If possible, offer different plans for different price points so people can find one that works best for them. And remember that ease of use goes both ways: make sure the interface is intuitive and doesn't require users to jump through hoops just to complete basic tasks!
Reaching your target audience is more important than ever, so knowing how to find them is imperative. It can be a challenge if you don't have the right tools, but thankfully there are some great options to help you get started. The key is getting creative with your approach and ensuring that whatever solution works best for your business fits your budget constraints. What are some ways you've been able to market SaaS products in a low-cost way?