Marketing is hard. But SaaS marketers’ jobs are tougher.
Let’s say; you are asked to market something that has no physical presence. How will you do it? Or you need to market something that keeps on changing constantly? What if the thing you are marketing interests only 15 B2B companies?
Well, welcome to the world of B2B SaaS marketing.
If you are a nervous Nellie, SaaS marketing is not for you. It is tricky and quite different from other forms of marketing that you might be aware of. Besides, creating a SaaS marketing plan isn’t easy.
So, let’s traverse through this post to determine how you can create a rock-solid B2B SaaS marketing plan and what strategies you can put into practice to generate leads.
A SaaS Marketing Plan for B2B Companies
The Greg Lemond winner, Tour de France, once said, “It doesn’t get any easier, you just go faster.” Well, we can say the same for the transition of a product-fit market to the speeding growth of SaaS companies.
Once you hit $5 million ARR, you get tempted to achieve $15 million ARR (Annual Recurring Revenue) after a few quarters. To achieve this, you need to have an approximate 18-20% month-over-month MRR (Monthly Recurring Revenue) growth. It seems unachievable, isn’t it? But before you think about quitting, wait! Though it’s a daunting challenge, here are four core tenets of a marketing plan that can help you achieve your goals.
- Set clear goals
To ensure lasting growth, your marketing plan must have clear goals and a functional framework. This enables you to gauge what’s working and what isn’t. So, what should you do?
- Align your marketing and sales team behind shared goals
- Give them the resources they need to achieve goals
To make sure that your marketing efforts convert at the highest possible rates, you must leverage these sure-shot B2B Marketing strategies.
- Content Marketing
- Paid content promotion and retargeting
- Email marketing & lead nurturing
According to Tomasz Tunguz, SaaS companies spend between 80 and 120% of their revenue in sales and marketing. Although the revenue gradients of most SaaS companies show exponential growth, they differ when it comes to their growth rate. For instance, LinkedIn reached $1 billion in revenue in 10 years, whereas Kenexa took up 25 years to reach revenue of $200M-$300M.
Hence, assure that you are setting an appropriate budget for your marketing and sales to help them hit your goals.
Once you have your goals, tactics, and budget in place, it’s time you look upon the resources you and your team will require hitting the goals. You need to decide
- Tasks that will be done inhouse and those that would require outsourcing services
- Marketing & Sales team structure
Now that you are ready with your marketing plan, it is crucial to determine how it will be measured. So, here are some key metrics you shouldn’t ignore to ensure the success of your SaaS marketing plan.
- MQL (Marketing Qualified Leads) Velocity: It provides you insight beyond the pipeline report
- Opportunities sourced by marketing: It offers a close look at the contribution of the marketing team
- SaaS Metrics: This includes customer feedback, customer surveys, MRR, churn, LTV (Customer Lifetime Value), and CPA (Cost Per Action)
Utilize the above five steps to draft a SaaS marketing plan for your business and be confident in choosing the right approach to execute it.
However, if your existing approach to attracting new B2B customers or retaining the current ones isn’t yielding the desired results, we’ve got you covered. Here, we’ve compiled some B2B marketing strategies that will do your marketing job a bit better.
B2B SaaS Marketing Strategies to Leverage
There will be thousands of organizations that might need your services or products. We know that, but do the companies themselves? Probably not! So, it is essential to make them aware of the problems they have and that you have a solution to it.
While traditional companies can achieve steady business growth by following conventional methods, SaaS companies require different marketing strategies to cope up. So, here are some latest B2B marketing strategies that will help your firm in demand generation.
- Display Advertising
As the name suggests, this strategy revolves around displaying ads of your product or service in the form of text, image, and videos. Such ads likely get displayed on popular websites and blogs that your audience follow and thus drive more visitors to your website.
- Content Marketing
89% of marketers cited higher quality leads through content marketing as compared to other tactics. Well, the number speaks for itself, doesn’t it?With more and more buyers relying on digital content to make purchase decisions, it becomes vital for you to provide them the information they are looking for. It can be in the form of blogs, news articles, press releases, social media posts, videos, email newsletters, white papers, e-books, FAQs or knowledge base, infographics, case studies, and pieces of content you could think of.
- Social Media Marketing
As opposed to the 1990’s marketing strategies that utilized billboards to showcase their business, you can leverage social media platforms for the same purpose. But remember, not every social media channel works best for your business. So, pick them wisely.
- Search Engine Optimization
According to Internet Live Stats, Google receives more than 74,000 searches per second. This means searchers begin their research with generic Google searches before engaging with a specific brand. To rank higher in search engines like Google, you need to optimize your website and content for specific keywords and phrases, and that’s where SEO comes into the role.
Once you make the buyers aware of your products or services, it’s time you convert them into leads. So, here are some B2B lead generation strategies you must adopt.
It refers to displaying your ads across the internet to visitors who have already visited your website. This assures that you are never out of your audience’s mind. Moreover, it is found that the more times a user sees an ad, the more likely he/she converts into a customer.
- Pay Per Click
A PPC search ad enables you to serve buyers the moment they are looking for your product or service. It works on keyword optimization, i.e., the more closely your keywords match with a user’s search query, the easier it is for your ad to rank higher.
- Affiliate Marketing
Having effective marketing strategies is important for the overall success of your business, and affiliate marketing is one of them. Though being a new advertising model, it is growing in popularity for SaaS companies. Affiliate marketing helps you pick up brand ambassadors for your products or services and increase exposure to new audiences.
As per a study, affiliate marketing spends in the US is expected to rise to $6.8 billion by 2020.
Simply ascertaining the top B2B SaaS marketing strategies won’t help. You got to have some SaaS tools to implement them effectively.
Some SaaS Tools You can use for B2B Marketing
With so many SaaS marketing tools available on the market, which one truly deserves your attention? Well, here’s the list!
- Google Analytics for measuring website traffic metrics
- HootSuite to maintain your social media presence
- Salesforce to keep track of every step of the sales process
- Wistia for video marketing
- Optimizely to boost conversions on different pages of your website
- CallHippo for multi-channel communications and unified customer experience
- HubSpot for automating varied marketing activities
Be aware; we have mostly focused on B2B marketing strategies in this post. However, sometimes the line between B2B and B2C marketing gets blurred. So, it is crucial to understand the critical differences between the two.
Key Differences between B2B & B2C SaaS Marketing
Parameters B2B Marketing B2C Marketing Targeting It is easier for B2B companies to narrow down their target audience B2C companies rather have a broader audience and find it challenging to define them Customer Budgets B2B companies have budgets set for tools and software to improve their business B2C companies mostly opt for a freemium model to attract more customers Tone of Voice (in terms of content) B2B marketers speak the same language as their clients B2B businesses focus on individuals rather than companies, and thus their tone is friendlier Social Media Approach They utilize LinkedIn and Twitter more to launch/promote their offerings They leverage Facebook, Twitter, or Instagram Sales Cycle They have a longer sales cycle, i.e., the purchase goes through a long list of approvals Their sales cycle is much shorter
Are you leveraging B2B SaaS marketing strategies to stay ahead in this cutting-edge competition? Let us know which ones you use and how effective they have proved for your business.