Never Want Your SaaS Start-up to Fail? Read This.
More SaaS start-ups are taking birth than ever.
There are more than 15,529 SaaS companies in the world. The SaaS industry is expected to bring in close to $105 billion in 2020, and generate nearly $141 billion in 2022.
The internet software Industry is on the boom right now.
This is creating a massive competition and challenge for all the uprising start-ups in the game. Start-ups have failed despite funding.
There are two options for you to survive. Point a gun on your prospect's head or emerge with the right marketing plan. If you are someone who’s reading this, I know you will choose the latter.
It is a challenge to sell intangible products, it is easier to sell something you can touch and feel. Another challenge is awareness. People don’t know your product exists. If they knew, they would have probably invested.
Here’s a list of things you SHOULD include in your marketing plans, initiatives and activities.
Offer Lead Magnets to generate more leads
Everyone likes free stuff. Make free lead magnets that serve your audience well. Solve their problems for free.
Once you are ready with your lead magnets, you could:
Run Facebook ads and collect leads
Use Pop-ups to offer free lead magnets to their emails.
Build authority amongst your prospective customers
Create a buzz around your brand name about your free offering.
What could you offer as Lead Magnet?
‘How to’ guides
Ebooks
Templates
Checklists
Case Studies
Whitepapers
Epic newsletters
Share epic content
Epic content triumphs content marketing.
Your content should be so good that your prospects resist the idea of it being free. Content that is well researched, informative, relevant and better than everything on that subject around the internet works. It helps you build authority. It helps you get more views and shares and develop a loyal reader base.
It helps you dive deep into the brains of your prospects and positions you as a leader right away.
Bonus: It helps a great deal with SEO.
Build an Email List
Your email list is your asset. Building an email list is something you should start focusing on as soon as possible. This is where all the gold is.
Imagine you have 1000 subscribers right there who are willing to be sold. If you have an email list that trusts you. You can always survive, even in a recession. And, if you are going bankrupt too.
Further, if you have a list of people who have already purchased. You could always upsell better products. Retaining an old client is a lot easier than convincing a new one.
Establish trust by free trails and refund guarantees
Offers with 100% Refund show you trust your product. Offering a guarantee answers all the questions your prospects have. Adding words like "If you aren't satisfied with this product we'll offer you a complete refund." has shown dramatic spikes in sales.
If you are not in for a refund. Offer free trials or samples.
Claude Hopkins writes in his book "My life in Advertising"
"I never ask people to buy. I rarely even say that my goods are sold by dealers, I seldom quote price. The ads. all offer service, perhaps a free sample or a free package. They sound altruistic. But they get a reading and get action from people seeking to serve themselves. No selfish appeal can do that."
The fact is, Brands who deliver value have the confidence to do this. Anyone with flawed quality is skeptical about this.
Reach your target audience on relevant Social Media
Find where your audience is. Talk in their language.
Is your product B2B or B2C? Where can you find your ideal buyers?
They could be looking for you on LinkedIn. They could be scrolling on Instagram. They could be pinning or discussing on Reddit. Find relevant social media. Start focusing on one, develop awesome content and get to the core of your prospects and once you get enough following there. Cross-promote your other platforms.
Wrap up
There are a hundred ways to market. These 5 tips give birth to another 25 (or more).
Offering lead magnets, sharing epic content, building an email list, offering free trials and marketing on social media. These are the essentials of any SaaS start-up.
P. S. You could always hire a freelance copywriter to help you with marketing.