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No SaaS startup is complete without a growth strategy. A growth strategy is what will take your business to the next level, growing your audience, and creating more earning potential.
For a SaaS growth strategy to be effective, it needs to prove the value of the service being offered to help build brand awareness and trust. Here are some fantastic SaaS startup growth strategies you won’t want to miss for 2020.
Try Before You Buy
Offering a try before you buy option will allow users to immerse themselves in your application and determine if it’s right for their needs. This is an effective strategy because you’re giving users a chance to explore the software before asking for financial investment.
The free trial is one way to create a try before you buy a growth hacking strategy, but there are other approaches as well. One of the most effective methods for this strategy is the freemium offering, which offers a limited free version with paid upgrades.
You can also ask for a minimal investment for the trial period, offering a deep discount. For example, the SEO platform Ahrefs provides a $7 week-long trial to experiment with the services before committing to the $99 or $179 per month plan. This strategy uses the theory that acquiring the first customer spend is the most challenging; subsequent attempts to retain the customer are far easier.
Repurpose Your Content
There’s no need to recreate the wheel to grow your SaaS startup. Repurposing your content to share the same information across various platforms is one of the most efficient ways to scale your business. For example, your blog content can become:
- An ebook lead magnet
- Scripts for videos
- Podcast topics
- An email series
To repurpose your content across various mediums, outsource to a virtual assistant who specializes in content creation. This will leave key players within the startup free to focus on further growth opportunities while delegating the busy work.
Consider working with a backlinking and outreach expert who already has a rapport with reputable sites in your industry. This is a work-heavy project that will yield incredible results but takes time and expertise to execute.
Referral and Affiliate Marketing
Word of mouth marketing still has a strong influence in purchasing decisions– the message is just amplified by social media in modern times.
Enabling a referral or affiliate marketing program is an excellent way to grow your audience without a front-loaded investment. With a referral program, you can offer discounts or payment options to users who generate future sales. Affiliate marketing strategies work well with social media influencer marketing and blogger outreach, as well.
A similar option for your SaaS is to offer a trial or subscription as a part of a marketing bundle. For example, if a B2B blogger is offering a paid course, provide a trial for your service as an add-on.
Create an Email and Social Media Marketing Cycle
It’s not enough to have separate followings on social media and email if you really want to grow. To expand both channels and promote growth, you’ll want to create a circular referral between email marketing and social media.
To enable this strategy, there needs to be value offered in each. That means creating exclusivity. Create offerings that are specific to your email marketing flow and talk about them on social media to encourage sign-ups. Conversely, create social media promotions, and discuss them in your email marketing flow. By doing so, you’ll have multiple angles by which to approach prospects, no matter how they became aware of your SaaS.
Scale and Grow
To prepare your SaaS startup for 2020, choose one growth strategy, and dedicate your efforts to executing it well. There’s always room for improvement, and focusing on one key area will yield the best immediate results.
Author’s Bio: Usman Raza is the co-founder of a Christian Social Media Agency and marketing strategist working with various brands online. Usman is the content marketing manager at a Search Engine Optimization Company, Convert Design to WordPress, and Nano Hearing Aids. He is devoted to helping small businesses bridge success gaps by providing in-depth, actionable advice on digital marketing, SEO, and small business growth. Follow him on Twitter @usmanintrotech.