How to Create a SaaS Growth Marketing Strategy for Startups
In order to achieve sustainable growth, a startup must have a well-defined SaaS marketing strategy in place. Without such a strategy, it is difficult to make informed decisions about where to allocate resources and how best to reach potential customers. In this article, we will outline the steps necessary to create a growth marketing strategy for your SaaS business.
But before that, let’s define what a growth marketing strategy is.
Growth Marketing Defined
Growth marketing is a strategic approach to marketing that focuses on acquiring and retaining customers through rapid, sustainable growth. Unlike traditional marketing methods, which focus on acquiring new customers through mass advertising, growth marketing emphasizes acquiring users through product virality, organic PR, and targeted outreach.
The goal of growth marketing is to achieve sustainable, long-term growth by acquiring new users and converting them into paying customers.
Why Do You Need a SaaS Growth Marketing Strategy?
A growth marketing strategy is important for two reasons.
First, it allows you to allocate your resources in a way that will maximize your chances of achieving sustainable growth.
Second, it helps you to track and measure your progress so that you can make course corrections as necessary.
For a SaaS startup, growth is essential. Without it, the SaaS company will not be able to survive, let alone thrive. That’s because most SaaS businesses are subscription-based and rely on recurring revenue from customers. And as any entrepreneur knows, it’s difficult to get a business off the ground, let alone keep it growing.
How to Create a SaaS Growth Marketing Strategy
Now that we’ve defined what a SaaS growth marketing strategy is, let’s take a look at the steps necessary to create one for your SaaS business.
1. Define Your Target Market
The first step in creating a SaaS growth marketing strategy is to define your target market. This involves understanding who your ideal customer is, what needs they have that your SaaS product can address, and how you can reach them.
One way to do so is by creating a customer persona. A customer persona is a fictional character who represents your ideal potential customer. It includes demographic information such as age, gender, and income level, as well as psychographic information such as interests and needs.
Once you have defined your target market, you can begin to develop marketing channels that will reach them most effectively. For example, if your target market is young professionals, you might focus on online advertising and social media marketing.
2. Identify Your Key Growth Channels
Once you know who your target market is, you need to identify the key growth channels through which you can reach them. This includes identifying the B2B marketing channels that have the highest potential for acquiring new users (e.g. paid advertising, PR, content marketing, etc.), as well as the channels that generate the most leads (e.g. your website, landing pages, etc.). In doing so, you will want to consider the costs and benefits of each channel, as well as the level of effort required to generate results.
3. Create a Conversion Funnel
The next step is to create a conversion funnel that will track how many of your website visitors become customers. This involves setting up goals and conversion tracking in your analytics tool of choice (e.g. Google Analytics, Mixpanel, etc.), and designing your website and landing pages in a way that encourages visitors to convert.
4. Create a Content Strategy
Once you have your conversion funnel in place, you need to start creating content that resonates with your target market.
A content strategy is essential for any SaaS growth marketing strategy. Content is one of the most effective ways to attract new users and convert them into customers. It also helps to build trust and credibility with potential customers, which can lead to more conversions in the future.
Your SaaS content strategy should include a mix of blog posts, infographics, e-books, case studies, and other types of content that will appeal to your target market. It should also outline how often you will publish new content, as well as the distribution channels you will use.
5. Implement a Lead Capture System
A lead capture system is also essential for any SaaS growth marketing strategy. A lead capture system is a process or tool that captures the contact information of potential customers (e.g. name, email address, phone number, etc.). This information can then be used to follow up with those leads and convert them into customers.
There are a variety of lead capture systems you can use, such as landing pages, forms, and pop-ups. You will want to make sure that the system you choose is easy to use and fits with your overall branding.
6. Optimize Your Website for SEO
You need to optimize your website for SEO so that it can rank higher in search engine results pages. This involves using the right keywords, optimizing your titles and meta descriptions, etc., and can be a time-consuming process but is well worth the effort in the long run. Optimizing your website for SEO will help you attract more visitors from search engines, which can lead to more conversions.
7. Analyze and Adjust
The final step in creating a growth marketing strategy is to analyze and adjust as necessary. This involves tracking your progress and measuring the results of your marketing efforts. If you find that a particular marketing channel is not performing as well as you hoped, you can adjust your strategy accordingly.
The key to success with a growth marketing strategy is to be flexible and adaptable. You need to be willing to make changes as you learn more about your target market and the channels that work best for reaching them.
Creating a growth marketing strategy can be a time-consuming process, but it is well worth the effort in the long run. By following the steps outlined above, you can create a strategy that will help you grow your business and achieve success.
What Custom Acquisition Channels Should You Use?
Now that we’ve gone over the steps necessary to create a growth marketing strategy, let’s take a look at some ways to determine what acquisition channels to use. You need to know: where are most of your customers coming from? Are you getting more traffic on Twitter than you are on Facebook? Knowing where your customers are coming from will help inform which channels you’ll utilize for growth marketing.
1. A/B Testing
Identify the best possible customer acquisition channels by utilizing A/B testing. First, run an A/B test with a set of users to find out if they’re more likely to complete a particular action if they see a certain message or color. This will help you optimize your site to get a higher conversion rate and more customers from those channels.
After you have a good idea of where your initial customers are coming from, you can begin retargeting. This means creating ads that appear to people based on which pages they’ve visited. For example, if someone visits your pricing page, you can retarget them with another page that shows your pricing. Creating personalized ads like this will make it more likely for people to return and become customers.
Since email is still one of the most powerful marketing tools, you want to make sure that your campaigns are getting responses. To do this, you should create multi-channel campaigns that allow people to convert on different touchpoints. This will help you figure out which channel works best for your SaaS business. For example, a user who sees a video ad can then be directed to a site that has an email collection form at the end.
4. Search Engine Optimization
When you create a SaaS content marketing campaign, you want to make sure that it can be found by customers. This means giving your brand a presence on search engines (such as Google). Include keywords that are specific to the SaaS product you offer, and make sure that you include the name of your SaaS business. If someone searches for a “project management tool”, showing up on the first page will be crucial for growing your SaaS business.
Integrate native ads into your email marketing campaigns so that you can increase the click-through rates for certain promotions. Also, monitor the social media sites where you have content to see if your ads are showing up.
The more videos you release (whether tutorials or otherwise), the more likely people will be to check out your SaaS product. It’s also important to create video ads that can be shown on YouTube, Facebook, and other social media sites so that you can optimize your campaigns.
Don’t forget about the more traditional marketing channels. For example, you can create a forum on sites like Reddit and Quora to get your name out there. This is effective because people will be more likely to check out your SaaS product if they see someone else talking about you in a positive light.
Want to get more people coming back to your website? Gamification is a great way to create incentives for people. For example, if someone makes a purchase, you can offer them the chance to win a free gift. This is also helpful because you can make announcements about new SaaS products or updates on social media.
9. Social Media
With a strong presence on social media, you’ll have the ability to market your SaaS product to more people. At the same time, you can monitor how your customers are feeling about your SaaS brand. If people have negative things to say on social media, there’s a good chance that your SaaS company is going to be viewed negatively as well. With this information, you’ll have the ability to tweak your SaaS marketing campaigns and make them more effective.
Offer people incentives in order to get them to comment about your SaaS product. The more real opinions you get, the easier it will be to determine which SaaS marketing campaign is working best for your business. This will give you the information that you need to make improvements and get more customers in the end.
Benefits to Investing in a Proper SaaS Growth Strategy
There are several benefits to investing in a proper SaaS growth strategy. By optimizing your online presence, you’ll be able to reach more customers. This will help grow your business and increase revenue in the process.
To start, it’s going to be easier for you to gain more exposure. This is crucial when trying to grow a SaaS startup. Because of the changes in consumer behaviors, it’s important to make sure that you can reach as many people as possible. This is where you’ll gain the most traction and where your SaaS marketing campaigns will be the most successful.
In addition, you’re going to increase your web traffic. There are so many people looking for the services and products that you’re offering, and it can be difficult to find them if your site doesn’t have the traffic necessary to bring them in. You can also increase conversions by optimizing different aspects of your online presence, particularly your site.
Once you have these things in place, it’s going to be much easier for you to gain repeat customers. You’ll also be able to speed up the sales cycle, which is great news if you’re trying to bring in revenue.
One final benefit that you can expect is that your employees will be happier because they’ll have the information necessary to complete their jobs. This is because there’s a lot of information that you need to know before you can begin marketing your products and services. This will help speed up the sales cycle and increase conversions.
To learn more about growth marketing strategies for SaaS startups, visit our SaaS marketing blog for the latest news and updates.