The events of the past year have changed the perception of SaaS offerings. Your clients are in “do we need it?” mode as they work with fewer resources. Expectations are also very high, and SaaS companies that aren’t showing how their technology provides value are having a tough time retaining clients. It’s a lot to chew on!
We've taken a look at the most significant shifts over the last twelve months, and how they affect the way SaaS companies need to approach these high-demand markets. Here's what we found.
Rapid market growth is creating intense competition. In 2021, the SaaS market is expected to grow by $120 billion.
Coming out of the COVID-related downturn, many companies are still working with reduced budgets and less internal bandwidth.
With so many SaaS companies offering similar solutions, there is nothing to prevent your customers from jumping ship if they are dissatisfied with your solution.
SaaS marketers face a growing challenge to differentiate from the competition while educating customers in niche markets on ever-evolving product features and benefits.
These communications need to take into account that customers are working with reduced budgets and staff, and they need to clearly display how the platform creates efficiencies and saves them money over time.
Brand Positioning & Awareness
It's important to position your product as one that adds value and reduces costs.
Marketing strategies such as content syndication, programmatic advertising, and SEM will enable your brand to get in front of niche audiences without wasting budget on non-relevant eyeballs.
Content Strategy & Interactive Experiences
Create personalized, interactive, and informative content experiences that educate customers on how your product will make their lives easier and save them time and money. Think cost savings calculators or explainer videos that outline relevant efficiencies.
Through creative automation techniques, you can also personalize this content at scale to do true 1:1 outreach, further differentiating you from the competition.
Account-Based Marketing & Retention
Creating an account targeting strategy that dictates the level of time and investment each account will receive from an ABM standpoint is critical.
This makes organizing your funnels simpler and allows you to create loyalty campaigns that leverage your CRM data to provide a personal and friendly touch, boosting retention and bottom-line revenue.
The CSI Group is a leading independent B2B demand marketing and creative agency with over 25 years of success. We ideate, create, deploy, and measure campaigns that span across digital and physical landscapes, expanding brand and product recognition and driving revenue.
Did you find this content helpful? Got questions?
Let us know!