Marketing is challenging especially if the product is not essential for an average person like food, clothes, skincare or medicine. What if you are selling digital software? SaaS companies (Software as a Service) are offering subscription-based software that helps entrepreneurs manage their business efficiently.
Whether you’re scheduling social media posts, allowing sharing of files in the cloud, or managing communication with customers, SaaS has the opportunity to solve big problems and reduce limitations of other traditional applications.
After you developed your SaaS product, spending a lot of money on completing the programs and making it a perfect system available in the market, it’s time for you to market and get subscriptions. If you are starting up, there are obstacles that you will need to overcome.
Challenge 1: The Need. Make sure that your product solves a problem. It’s not just an additional feature of existing software. It’s easy to create a need for the buyers if they know that it will settle an issue. Even if you are selling an intangible product, as long as it will greatly help in the digital world, then I’m 100% that you will get a fast ROI.
How to Overcome? Generate leads with content. Content marketing will give awareness to prospects and leads and target emotional needs. Addressing the right keywords will enable you to rank in search engine results for relevant searches. Organic visits tend to drive the most traffic for SaaS companies.
Challenge 2: The Competitor. There will be existing competition in the market that offers the same benefits. How will you prove to them that your product is better, more efficient and valuable? That it’s okay to spend their money and be a paid subscriber?
How to Overcome? Offering FREE trials is a good thing for your business. FREE subscription can take in many different forms, depending on the nature of your system. You may set a limit on users or accounts that can be connected. You may choose to have a preset trial period. You may also limit the functionality available. The benefits of giving out a free trial period are getting your leads to use the app, recognise their need and become paid subscribers sooner or later.
Challenge 3: Retention. Another challenge is retention or keeping your customers happy. After they sign up for a month or two, it is up to you on how you will maintain your customer and making sure that they will not cancel the service. They will not just become a loyal supporter of your app but they will also promote it to other possible users.
How to Overcome? Create a Referral or Incentive Program. People refer products and services to their friends for a good reason. Make sure your app is easy to recommend. If it is well developed, and it solves a major pain or problems, your users will be more inclined to suggest it to people they know. Referral rewards will just be an added bonus. But it is a great factor to help your existing customers promote your product.