How Do You Do B2B Saas Marketing?
The market size for business-to-business (B2B) software-as-a-service (SaaS) solutions is growing. In this blog, we’ll break down what you need to know about making your business stand out from the competition through an effective B2B SaaS marketing strategy.
What is B2B SaaS?
B2B SaaS companies provide cloud-based software for business use, for tasks like accounting, office productivity, customer relationships, and so on. The software services are typically bundled and delivered on a recurring, subscription basis.
Some common B2B SaaS examples include:
- Customer relationship management (CRM) systems
A CRM unifies customer and account information in a single, accessible repository for better service and support.
- Enterprise resource planning (ERP)
This includes functions for managing daily business processes (and their data), including accounting, project management, risk management, supply chain operations, and more.
If eCommerce is a component of your business operations, you’ll need to leverage an eCommerce platform to manage data and inventory and to facilitate transactions.
B2B SaaS Market Size
In 2021, the SaaS market is estimated to be worth nearly 150 billion dollars. What’s more, the market is expected to continue to grow as the viability and versatility of B2B SaaS solutions are more widely adopted, and more B2B SaaS companies enter the market.
It’s easy for companies to put together feature lists and value propositions with the hope of differentiating their organization. The companies that stand out in their market are those who are data-driven and able to really understand their customers. And you can’t fake it—if you (and several of your competitors) are advertising “cutting-edge,” “best-in-class” solutions, you had better be able to back it up.
What Makes B2B SaaS Marketing Different?
With subscription-based services, customer loyalty and renewal are crucial to revenue. That’s because B2B SaaS companies aren’t just selling their product (the software)—they’re essentially selling a partnership. In addition to the mission-critical features and benefits of the platform, customers desire a reliable point of contact, available support, and even product training in some cases. It’s that relationship, the “trusted point of contact” that helps many B2B SaaS companies succeed.
The biggest factor that makes B2B SaaS marketing different from other forms of marketing is the challenge of proving a campaign’s ROI. This is due to a number of factors including the deeply tech-focused nature of the work and the fully-online nature of the product/service.
While that may seem like a tall order, though, it is entirely possible to prove a B2B SaaS campaign’s ROI. Consider some of the most common goals for marketers—things like acquiring, retaining, and up-selling/cross-selling customers effectively and with minimal cost.
Ultimately, the insights you can gain into your campaign’s effectiveness start and end with the quality of data and analysis.
Developing a Marketing Strategy for B2B Sales
Effective marketing strategies are unique, and B2B SaaS companies are vastly different from one another—depending on size, industry, and other factors. This means there are countless types of B2B marketing campaigns and strategies. Successful organizations achieve positive results by implementing a balanced SaaS marketing mix.
Based on how some of the best SaaS marketing campaigns drive success, Statwax has innovated a four-pillar SaaS marketing strategy, which includes:
- Paid digital marketing channels, useful for targeting the right audience of potential customers with your content.
- Persona-based targeting, the application of sophisticated data analytics to uncover actionable insights so messages and services can be optimized for an audience.
- Predictive modeling, which uses a mix of historical and current data to better understand revenue streams so targets can be better-specified (and more reliably hit).
- Lead quality optimization, to prioritize quality leads over mere quantity.
How Top B2B SaaS Companies Market Themselves
The top B2B SaaS companies, like those Statwax works with, do three things exceptionally well:
- Understand their place in the market, including vs the competition
- Create and implement the right marketing mix
- Paying attention, following through, keeping an eye on the data (and an ear open for feedback)
Ultimately, getting your marketing mix right is too important to leave up to guesswork. There are simply too many unique business characteristics. That being said, there are best practices and technologies that can give you the edge. As far as Statwax clients go, we helped 100% hit their acquisition goals in 2020!
We recommend reading a few of our case studies to see how we have:
- Used closed customer data to generate SQLs
- Increased organic leads with data-driven SEO strategy
- Saved time, money, and inquiries with CRO
Connect with Statwax today to learn more about how we can unlock potential by uncovering and optimizing the customer journey. By pairing compelling data-driven strategy with human expertise, we empower marketers to make more informed decisions.