How Do You Market A SaaS Company?
How do you market a SaaS company? Let us count the ways. No, seriously—there are a lot of options. In part, the answer depends on your target end users for the platform. Some audiences want to be sold a simple onboarding process. Others are concerned about unique features. Still others might want to know about the training and user adoption strategies that set you apart from the competition.
Though the marketing message of each SaaS company is wholly unique, successful SaaS marketing strategies are a little more universal in terms of the components that make them work. We’re going to explain what we consider to be the four pillars of high-quality SaaS marketing, and how each can be customized to refresh your SaaS marketing strategy from 2021.
How Do SaaS Companies Do Marketing?
Our SaaS marketing agency uses four pillars in every high-performing SaaS marketing strategy we execute. In 2020, 100% of our clients hit their customer acquisition goals, so we’re confident these pillars can support you, too.
- Persona-Based Targeting: As we explained in the intro, SaaS marketing starts with understanding your ideal end user. How do you do market research for SaaS? We work with you to understand basic demographics like geography, job title, and company size. Then, we turn to clients and potential clients that meet those specs to learn more about their motivations, challenges, and goals. The result is a deep understanding of the targeted marketing messages that will resonate with your customers and move leads through the pipeline.
- Lead Quality Analysis: Speaking of leads, we believe in improving quality and quantity at the same time. Through strategic integrations between your CRM, digital ad platforms, and other data sources, we learn more about the best leads available and take real-time action to convert better leads into qualified long-term customers.
- Account-Based Search Strategy: How do we make the magic? By taking a proactive and agile approach to paid search spending. It’s our mission to make the most of every dollar your SaaS company spends on digital ads. To achieve it, we go beyond the master keyword list to understand what questions and concerns your customers are experiencing at each stage of the buyer journey. With Statwax, you’re not just spamming ads and hoping they connect—you’re meeting the customer where they are at the right moment, like hitting a bullseye.
- Predictive Modeling: It’s also not enough for us to know what’s going on in the present—we help our clients predict the future of revenue generated and their SaaS marketing ROI. Our proprietary algorithm helps you predict the number of incoming leads, how many of those leads will close, the value of each new customer acquisition, and how much it will cost to earn their new business. Yes—we do all that for you!
All this effort across the four pillars of SaaS marketing results in predictable growth that happens as fast as you can handle it.
How Much Should a SaaS Startup Spend on Marketing?
Don’t worry, our answer to this question is not “open your wallet and then let us answer.” Typically, SaaS companies are advised to spend 7-12% of their revenue on marketing. Yet some conflicting sources, especially marketing agencies, may recommend that startups prepare to spend over 100% of their revenue on marketing! Over 100%? We don’t like the sound of that either. But especially for newer SaaS solutions, or complex solutions, the cost of deployment and onboarding during the first year of a subscription means the revenue is in the negative the moment the contract is signed. Yeah, it’s a bummer—and if you’re tired of being in that situation, we’d love to talk more about how to get you out of it.
The Best SaaS Marketing Campaigns Start with Statwax
We’re proud to have achieved incredible results for every SaaS platform that has trusted us with their marketing. A volume-based approach to bringing in as many leads as possible isn’t going to sustain your company to a point of market dominance. SaaS marketing optimization decisions like how to more efficiently spend your ad dollars don’t have to be guesswork or questions that keep you up at night. We exist to help you spend money and time more efficiently, targeting high-quality end users that will become your valued long-term clients. Let’s talk today about how you could be closing more deals with the same marketing spend.