Software as a Service or SaaS is a software licensing and delivery model that is highly flexible, expandable, and cost-effective which businesses are incorporating. SaaS product marketing has found its applications in a wide range of areas and industries.
Let us now take a look at the top ten trends of SaaS product marketing.
1. The popularity of feature marketing
Feature marketing is growing more popular as a marketing strategy, in SaaS product marketing. A feature marketing strategy is where SaaS companies develop parallel products that offer advantages to the same customers, like a company adds a new feature to a product, then markets it to attract new consumers and upsells the existing ones. However, these products are independent and separate from the company’s main products.
Feature marketing has some advantages:
- New buyers are attracted more.
- Existing consumers have a motivation to buy more.
- Utilises consumer behaviour to improve a product’s or service’s market performance.
- Existing clients have even more reasons to stay loyal.
2. Native advertising
Native advertisements provide a fantastic opportunity to reach your prospects at the right time in their decision-making process, and they also have the potential to convert such an audience. It is effective when the material is beneficial to the reader, and most companies develop content that answers the questions and concerns of their audience.
With native advertising, the focus should be on emphasising the product’s role in solving problems. In addition, native ads can be posted on a company’s website or any third-party website and can effectively bypass announcement blockers in SaaS product marketing. Native ads are observed 53% more than traditional display ads, which makes them an effective way to market SaaS products.
3. Mutual partnerships
Many companies are joining forces to supply their target customers with a mix of two of their favourite experiences in SaaS product marketing. As naturally more products and services are getting connected online, companies are seeing opportunities for collaboration. Not only does it help to improve the marketing of the products, but often these partnerships combine the strength and audience of two closely linked brands.
Many brands have overlapping audiences, and partnering with one of them can boost sales for both. In SaaS product marketing, affiliate programs can drive in new customers and visitors, just like your existing base by making use of their influence and reach to the benefit of both of you.
4. Use of video marketing
The U.S. consumer Internet traffic is comprised of 85% of online videos. No matter what marketing field or campaign you are in, video marketing simply cannot be ignored. Marketing professionals across the world recognise the effectiveness of short video content for engagement and performance. Video marketing has become a hot topic among business owners and marketers, especially SaaS companies. The concept of text-only content is slowly losing relevance, and video content has emerged as the new rage in marketing.
5. Creating a brand experience
The needs of consumers are continuously changing. Consumers now demand core value propositions that drive results and performance. Brand positioning is critical to SaaS product marketing, particularly for customer acquisition and retention. Customers expect brand experiences to be distinctive and attractive while also building a genuine and natural emotional connection with them.
6. Interactive infographics
Studies show that infographics are liked and participated three times more than any other type of content. It’s also suggested by reports that 40.2% of marketers consider infographics to be an attractive visual format for followership engagement. SaaS product marketing companies are formerly exercising interactive infographics to engage with prospects.
7. User-centric branding
The goal of SaaS companies is to create a brand that aims to build relationships with prospects through creating user-centric stories. This will be done by creating user-centric stories to engage the client and reach the desired outcome. Marketers now recognise that branding in SaaS is essential, and many SaaS companies are significantly emphasising branding. To create a unique brand identity, SaaS companies ensure consistent details are available at all customer touchpoints to stand out from the crowd.
8. Flexible pricing strategies
The price of SaaS products directly influences the purchase opinions of guests. According to studies, 98 % of SaaS companies have achieved positive results by changing their pricing programs. This will ensure that companies pay a small price for a service that can resolve a particular problem, rather than shipping the entire package or all the services.
Some of the pricing strategies that are anticipated to get popular in the upcoming years are-
- The freemium model will remain a crucial part of the pricing strategies in the SaaS product marketing business.
- The price as per model is a user-grounded pricing model.
- Pay as you go is different from other popular pricing models.
- Different pricing plans are offered based on the size of the business. These include small, medium, large and enterprise-level businesses.
9. Client retention optimisation
As days are passing by more companies are now on social media channels. This has made engaging with guests on social media one of the good ways to enhance the client experience. Client retention is a tough task in the SaaS product marketing business and client retention, a more delicate one. The bettered client experience will enhance client retention, and client satisfaction and will encourage guests to pay further. This will increase profit as well.
10. Referral marketing
Referral marketing is a SaaS marketing technique that should not be overlooked. We can generate more leads by rewarding customer referrals. However, for this SaaS product marketing plan to work, we must first provide incentives for our consumers to refer you, as well as by referral worthy. Running incentive-based loyalty programs is a wonderful place to start.
So, SaaS product marketing should not be avoided. Because this industry is only going to get larger and increasingly better. So make sure you make the most of it by leveraging these ways to enhance SaaS marketing strategies. They are eventually going to help you with lead generation, customer acquisition, and customer retention. Make sure you apply them in the right way and watch out for any other rising trends shortly.