How To Generate Leads For SaaS Business: 10 Key Lead Generation Strategies
Did you know that 61% of marketers say that lead generation is their number one challenge? And for a highly competitive industry such as SaaS, you could imagine how much more difficult it is to generate leads.
But just because it’s hard doesn’t mean it’s impossible. The good news is that you can use several effective lead generation tactics to get your SaaS company noticed by potential customers.
In this article, we will define what a lead is and discuss how to generate leads for SaaS businesses.
What Is A Lead?
A lead is someone who shows an interest in your product or service and is likely to become a customer. Lead generation is any process that helps you identify, capture, and nurture prospects until they become paying customers.
Lead generation tactics are essential for any SaaS company to succeed in today’s market. It is the best way to attract potential customers and build trust with them ahead of a sale.
Now that we know what a lead is and how it’s important to SaaS businesses, let’s look at how you can generate leads for your business.
1) Know Your ICP & Buyer Personas
The first step to generating leads is understanding your ideal customer profile and buyer personas.
Knowing who you are targeting will help you create the right messaging to attract the right prospects. You should also have a clear understanding of how your product can solve their problems or how it can benefit them.
Let’s talk about these two in more detail:
Ideal Customer Profile (ICP)
Your ideal customer profile is a detailed description of the customers that best match your SaaS product. It should include demographics, psychographics, and other related information about your ideal customer.
If you have a business-to-business or B2B SaaS solution, you should also include firmographic data, such as industries, job titles, and business sizes.
Knowing your ICP allows you to target the right people with the right message to generate more leads.
A buyer persona is a semi-fictional representation of your customers based on market research and real data about your existing customers.
Buyer personas help you understand how different types of customers think, how they buy, and how they interact with your business. Having these insights allows you to craft campaigns tailored specifically for each type of customer.
Here are some examples of buyer personas:
The Executive: An executive-level decision-maker who is responsible for making the final purchasing decision. These include C-suite-level executives, such as CEOs, CTOs, or CFOs.
While executives may not necessarily use your SaaS product directly, they will likely make the final purchasing decisions. Their main concerns are how your SaaS solution will impact the business’s bottom line and how it can add value to their company.
The End-User: This is the person who will actually be using your SaaS product. They may be in different departments within the company, such as operations, marketing, or sales.
In fact, you should make a specific end-user buyer persona that reflects what your SaaS product does.
For example, let’s say you have a social media marketing solution. You could have an end-user buyer persona called “The Social Media Marketer” who is responsible for managing the company’s social media campaigns.
Or you could have “The Influencer” buyer persona, which is someone who doesn’t necessarily work for a company. But they need your SaaS product to grow their own social media following.
The Manager: A manager is responsible for making a team of end-users productive and successful. They usually make the purchasing decisions for their team and are responsible for how their team uses the SaaS product.
Managers are concerned with how they can help their team be more successful with your product, how they can implement it quickly and easily, and how they can get the most out of it.
However, managers can also be the end-users themselves, especially if your SaaS product has team management and reporting features.
Or if you have managerial solutions like project management software, the managers will obviously be your end-users, along with the team members.
2) Create High-Quality Content
When it comes to SaaS marketing and lead generation, content is king. Content helps you educate your prospects and customers, build trust, and turn content viewers into leads.
Content marketing even goes far beyond lead generation. Not only will it help turn leads into customers. It will also help retain customers and increase customer loyalty.
Here are some of the best types of content for SaaS lead generation:
Blog posts are the most common and cost-efficient type of content for SaaS businesses. They are a great way to drive organic traffic, educate potential leads, and build relationships with them.
You can also write and publish a wide variety of blog posts. You can create how-to articles, industry trends and research, product comparisons, buyer’s guides, and more.
To get the most out of your content marketing strategy, you might want to try creating evergreen content. This type of content doesn’t go out of date and is always useful to readers.
Video content is becoming an increasingly popular type of content even for SaaS businesses. It can be used to tell stories, explain how a product works, or even just repurpose your blog posts into educational videos.
Videos are also more engaging than text and can help keep viewers hooked for longer. You don’t have to create high-budget videos either — you can create simple videos with just your phone and some editing software.
What’s more, YouTube is the second most popular search engine in the world, next to Google. So having a presence on YouTube can be very helpful in reaching potential leads who tend to prefer watching videos rather than reading blog posts.
However, video content and blog posts don’t have to be mutually exclusive either. You can create videos and embed them in your blog posts to make your articles more engaging.
Podcasts are a great way to reach potential leads who prefer audio over text. Not only do they have the same benefits as other types of content, but they can also help you build relationships with influencers and industry leaders.
You can even host live Q&A sessions where your listeners can ask questions and get advice from industry experts. This will not only help you generate leads but also build trust with your target audience.
3) Leverage Lead Magnets For Contact Information
Lead magnets are incentives that you offer to potential leads in exchange for their contact information. This could be any gated content, which is usually more comprehensive content that you can only access by exchanging your contact information.
The goal of lead magnets is to pique the interest of potential leads and encourage them to give you their contact info.
Let’s talk about some types of leads that you can use for your SaaS company:
eBooks are the most commonly used type of gated content for generating leads. You can create an eBook that provides comprehensive information about any topic in your niche.
For example, let’s say your SaaS product is targeted toward salespeople. You could have a blog post about how to close more deals. And then you could offer a comprehensive eBook containing sales negotiation techniques, how to overcome objections, and how to maximize profits.
Online courses are another great type of lead magnet. You can create a course that walks potential leads through more advanced topics in your niche.
For example, let’s say you have a SaaS product that helps businesses manage their recruiting process. You could create a course on how to create effective job postings and how to source the best candidates.
Of course, those who want to access the course would need to sign up and provide their contact information.
Webinars are another type of lead magnet that you can use to generate leads for your SaaS business. Here, you can host a live webinar where attendees learn how to solve an issue in their niche.
For example, let’s say you have a SaaS product that helps businesses manage their customer service operations. You could have a webinar that teaches attendees the best practices in training customer service agents and how to build relationships with customers.
You can then invite your target audience to attend the webinar and provide their contact information.
Quizzes are an engaging type of interactive content and lead magnet. They allow potential leads to test their knowledge and get a sense of how knowledgeable they are in the topic.
For example, let’s say you have a SaaS product that helps entrepreneurs build their own website. You could create a quiz that tests how well they know how to optimize their website for search engines and how to write effective copy.
However, before they could see their quiz results, the people who participate in the quiz would then need to provide their contact information.
A white paper is an in-depth research paper that covers a specific topic in great detail. White papers are often used by companies to educate potential leads about their product or service and how it can help solve their problems.
For example, let’s say you have a SaaS product that helps businesses manage their inventory. You could create a white paper about how to optimize inventory management processes. Then in the later parts, it can also show how your SaaS product can help them do just that.
Sometimes, creating a spreadsheet or a keynote slide from scratch can be a hassle for some people. That’s why pre-made templates make great lead magnets.
For example, let’s say you have a SaaS product that helps marketers manage their campaigns. You could create a content calendar template to help them plan their content more easily.
With this template, they can save time and energy while also getting to know how your SaaS product can help them manage their campaigns better.
4) Improve Your SEO For Higher Visibility
Search engine optimization (SEO) is an important part of generating leads for your SaaS business. To get more visibility for your website and content pages, you need to apply various on-page and off-page SEO practices.
Here are some SEO strategies that you can use to improve your visibility, drive more traffic to your website, and ultimately generate more leads:
Optimize Your Content For Relevant Keywords
It’s hard not to talk about keywords when you’re talking about SEO. Keywords are how people find your content, and how search engines like Google decide whether it’s relevant for their users.
And there are quite a few things you need to remember when it comes to keywords and SEO:
Do Your Keyword Research: Before you even start creating your content, find out what keywords your target audience is searching for on Google.
You can also use the keyword data that they provide, such as search volume and competition level, to decide which keywords to target and how you should optimize your content.
Moreover, try looking for long-tail keywords, which are longer and more specific, as they’re usually less competitive and can help you rank better. What’s more, people who search for these highly specific keywords tend to become high-quality leads in the future.
Include Keywords In Your Content: Once you have your keyword list, make sure to include them in your content. This means using the keywords naturally in your headings, subheadings, and body copy.
It’s also important to remember that keyword stuffing (overusing keywords) can hurt your SEO ranking instead of helping it. So try not to overuse them as much as possible.
What’s more, it’s also important to include these keywords on your meta titles and meta descriptions. These are how your content shows up on search engine results pages (SERPs), and can also help you rank higher.
Another SEO strategy that can help you rank higher on the search results is link-building.
Link-building involves getting other websites to link to yours, which helps improve your website’s domain authority and thus how high it ranks on search engine results pages (SERPs).
There are a few ways you can do this:
Write Guest Posts: The most common link-building strategy is to write guest posts for other websites and publications.
When you do this, you can include a link in your post, which will help direct people back to your website. The higher the domain authority of the website or publication where you guest post, the more valuable this link can be.
Find Unlinked Mentions: Sometimes, other content creators may mention your SaaS brand and forget to link to your website.
So, try finding these unlinked mentions and get the content creators to link out to your website or content pages. You can do this by simply performing a Google search of your brand or setting up Google Alerts to notify you whenever someone mentions your SaaS product or brand.
Create Linkable Assets: Linkable assets are content pieces that are so valuable and easy to link to that people can’t help but do it.
These could include research reports, infographics, videos, or even an interactive tool. The idea is to create something unique and helpful that will encourage other websites to link back to you.
Optimize Website Structure
Technical SEO is another aspect of SEO that deals with making your website easier for search engines to crawl and index.
This means making sure your website is optimized for search engines, as well as ensuring that the structure and organization of your content make it easier to crawl.
To do this, you should make sure to use descriptive URLs, create sitemaps, and add internal linking wherever possible. In most cases, a hierarchical website structure (such as with categories and subcategories) can help make your website easier to crawl.
5) Optimize Your Website For Better Lead Capture
Your website is your main hub for lead generation, so you should make sure that it’s optimized accordingly.
Here are some things you can do to make sure that your website is at its best when it comes to lead generation:
Optimize Landing Pages & Signup Forms
Your landing pages are the pages where people usually land when clicking on an external link or a search engine result. Make sure that these pages are optimized for lead capture, with clear calls to action (CTAs) and forms to fill out.
You should also optimize your signup forms so that they’re as easy and quick to fill out as possible. This will help improve your form completion rate, which can then generate more leads for you.
Use Pop-Ups Strategically & Wisely
Pop-ups are also a great way to capture leads. However, it’s important to use them strategically and wisely. If you overuse it, you may end up annoying your website visitors and turning them off from signing up.
So try to make sure that the pop-up is relevant to the page content, and that it appears at the right time (not too soon, not too late). This will help ensure that you don’t annoy potential leads with irrelevant or intrusive pop-ups.
One way to do this is with exit intent pop-ups. These pop-ups only appear when a user is about to leave the page, so can be great for capturing leads who are just about to ‘bounce’ off your website.
You may also use a pop-up to offer a lead magnet. For example, you can set up a pop-up to appear at the end of the page, offering a free download in exchange for the user’s email address.
Make Your Website Mobile-Friendly
According to Exploding Topics, 60.9% of all website traffic comes from mobile devices.
So it’s important to make sure that your website is optimized for mobile. That means making sure the design looks good on small screens and that the navigation is easy to use on mobile devices.
If you’re using WordPress or other website builders, you can do this simply by using a responsive template for your website that automatically adjusts to different screen sizes.
And if you want to double-check whether or not your website is optimized for mobile, you can use Google’s Mobile-Friendly Test tool to find out.
By optimizing your website for mobile, you can ensure that more users are able to view and interact with your website, which can help improve lead capture.
6) Expand Your Social Media Presence
Don’t forget about social media. Social media can be a great way to generate leads for your SaaS business as it exposes you to a wider audience and gives you the opportunity to interact with potential customers.
Here are a few general tips you can use when it comes to social media marketing:
Choose The Right Social Media Platforms
Facebook, Twitter, LinkedIn, Or TikTok?
Depending on your target audience and the type of content you’re creating, different social networks may be more beneficial than others.
For example, if you’re targeting a younger audience, then it might make sense to focus on Instagram or TikTok.
However, if you are targeting a more professional B2B audience, then LinkedIn might be the better choice.
So it’s important to do your research and choose the right social media platform for your business.
Create High-Quality Content & Engage With Your Audience
Creating high-quality content that resonates with your audience is key, as this will help you build a loyal following on social media.
You should also make sure to engage with your followers and respond promptly to comments or questions. This will help you create a sense of community and trust, which can help you generate more B2B leads in the long run.
Build A Social Media Calendar
Creating a social media calendar can help you stay organized and ensure that you’re consistently posting quality content on all of your channels.
Map out what type of content you want to post, how often you want to post, and the platforms you plan to post on. This will make it easier for you to keep track of your social media goals and help ensure that your efforts are successful.
Work With Influencers
Influencer marketing can be a great way to reach new audiences and generate leads.
Do your research and find influencers in your industry who have a large following that you think could be beneficial for your business. Then see if you can strike up a collaboration with them to help promote your SaaS product.
This can be an effective way of expanding your reach and attracting potential customers.
7) Use Paid Advertising To Expand Your Reach
To bring your lead generation efforts to the next level, you may want to consider using paid advertising.
Paid advertising can help you reach a larger audience and increase your brand awareness, which can then result in more leads for your SaaS business.
But what types of paid ads can you use?
Here are a few:
Pay Per Click (PPC) Ads
PPC ads allow you to target specific audiences with your ads and pay only when someone clicks on them. This makes it a great way to generate leads as you’re able to reach prospective customers who are actively searching for solutions similar to yours.
PPC ads can be placed on search engines, and other websites that belong to the same network as your PPC ad platform.
Social Media Ads
Social media ads are a great way to reach potential customers and generate leads. You can target specific audiences based on their interests, demographics, and more.
For example, if you have an email list of existing customers, you can use that information to create “lookalike” audiences and target ads to people who have similar attributes as your current customers.
8) Engage Online Communities
Community marketing is another great way to generate leads for your SaaS business. This SaaS marketing strategy has been growing in popularity not just as a way to generate leads and acquire customers. It is also an effective way to grow customer loyalty and advocacy.
There are a few ways you can engage online communities to generate leads.
Join & Engage Existing Online Communities
The first thing you can do is search for existing online communities related to your industry and join them.
Then start engaging with other members and contributing meaningful content to the discussions. This will help position you as an expert in the field and establish credibility with potential customers.
As you consistently engage in these communities, you’ll begin to build relationships with other members and generate leads from the group.
Create Your Own Online Community
Creating your own online community can also be a great way to generate leads. You can create a private or public group on social media platforms like Facebook or LinkedIn where people can discuss topics related to your SaaS product.
By providing helpful advice and creating meaningful conversations, people will see how knowledgeable you are about the topic, which could convince them to purchase your SaaS product.
Foster Advocacy Within Your Brand Community
You can also create a brand community specifically designed for your existing customers. This is a great way to encourage customer loyalty and get existing customers to become brand advocates.
By allowing your customers to engage with each other, you can create a powerful community that will bring in referrals and generate leads for your SaaS business.
9) Participate In Live Events
Generating leads for a SaaS company isn’t just about your digital marketing strategy. You should also consider participating in live events, such as conferences and trade shows.
Live events are a great way to meet new people, build relationships with potential customers and strengthen your brand’s presence in the marketplace. Plus, it’s also an effective way to generate leads for your SaaS business.
At these events, you can network with other attendees and exchange contact information with them. You can also collect contact information from people who attend your presentation or booth at the event.
This data will be extremely valuable for you when following up with potential customers after the event is over.
10) Track The Right Lead Generation Metrics
Generating B2B leads for your SaaS business is only half the battle. You also need to track the right metrics in order to measure how effective your lead generation strategies are.
Here are some of the key metrics you should be tracking:
Visitor-To-Lead Conversion Rate
This metric measures how many of your website visitors become leads. It’s one of the most important metrics to track because it will help you understand how well your website is converting visitors into leads.
To calculate your visitor-to-lead conversion rate, divide the number of leads you’ve generated by the number of unique website visitors you’ve had.
For example, if you had 100 unique visitors in a month and 10 of them became leads, your conversion rate would be 10%.
MQLs & SQLs
Another important metric to track is how many Marketing Qualified Leads (MQLs) and Sales Qualified Leads (SQLs) you generate.
A marketing qualified lead is a lead that has deeper engagements with your marketing assets. They may have expressed some interest in your SaaS product but may not be ready to purchase yet.
A sales qualified lead, on the other hand, are leads that are ready to buy and have already reached out to your sales team.
Measuring how many MQLs and SQLs you generate will help you understand how effective your lead generation efforts are at driving high-quality leads for your SaaS business.
Cost Per Lead (CPL)
Finally, it’s important to track how much you are spending on each lead. This metric will help you understand how effective your lead generation budget is at driving leads for your SaaS business.
To calculate your cost per lead, divide the total amount spent on lead generation by the number of leads generated.
For example, if you spent $1000 on generating leads and you got 100 leads from that spend, your CPL would be $10.
Final Thoughts: How To Generate Leads For SaaS Businesses
Having a solid lead generation strategy is an essential part of growing your SaaS company.
But remember that lead generation is not the final step in the sales process. It’s rather just the beginning.
Once you have generated leads, it’s important to follow up with them and nurture the relationships. It’s only through consistent lead nurturing that you can turn your prospects into paying customers.
Looking for more guides to help you grow your SaaS business? Check out our blog site here.